The global air compressor market can be
expected to enjoy an incredible CAGR of 7.5% during the review period
(2017-2023), reports Market Research Future (MRFR). Air compressors have a
wide-range of applications in both industrial and non-industrial verticals.
Recent developments in the industry has helped in expanding the base by
filtering spectrums in a more precise and definitive manner and attain the
desired market results.
Drivers
and Restraints:
With the advent of technology, the market
is experiencing more efficient machines being introduced every day. The
portable compressors have penetrated the market well and now command a high
demand from diverse sectors. The maintenance cost is also going down with the
current developments. In addition, the erstwhile problem of noise and air
pollution has been eradicated. These improvisations are boosting the market
further.
The rise in eco-awareness has also
propelled the demand for robust and energy-efficient compressors. The construction
sector is also exploring the possible utility of air compressors and has opened
up previously uncharted territory for air compressors.
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Industry
Trend:
The market is now flooded with air
compressors that are energy-efficient, centrifugal, and oil-free. Air
Technologies have recently launched a new compressor that uses DirectAIR
technology and conserves more kilowatt-hours (kWh).
SCR Air has introduced a compressor
machine that uses a permanent magnet. These machines have low rotational speed
which means it would generate the same airflow with device a size smaller.
Also, the machines produce merely 67 decibels (dB) of sound and cut down the
running cost.
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Segmentation:
The air compressor market can be segmented
by product, technology, lubrication, and end-user.
Product-wise segmentation comprises
portable and stationary. The stationary type segment is expected to dominate
the market as it is experiencing a growing demand from various industries and
non-industrial sectors. Home appliances, automotive, and manufacturing sectors
are capable of playing a pivotal role in the market growth.
Based on technology the market is
segmented into rotary, reciprocating, and centrifugal. Rotary is estimated to
dominate the market as it incurs low maintenance cost and is highly efficient.
Centrifugal can also fetch in heavy demand in the coming years.
Lubrication-based segmentation includes
oil free and oil filled. Rising awareness regarding various contamination is
anticipated to trigger the sale of oil-free air compressors.
On the basis of end-user, the market can
be segmented into home appliances, food & beverage industry, oil & gas
industry, energy industry, semiconductors & electronics industry,
manufacturing industry and the healthcare industry. Rapid urbanization has
secured the market for home appliances where the air compressors can find
utility in luxury items such as air conditioners, refrigerators, and others.
Key
Players
The significant ones are Sullair, L.L.C.
(U.S.), Atlas Copco AB (Sweden), Doosan Portable Power (U.S.), Gardner Denver
(U.S.), Ingersoll Rand (U.S.), Rolair Systems. (U.S.), Kaeser Compressors SE
(Germany), and others.
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Market Research Future:
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