Industry Highlights:
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. An air compressor
is a device that converts power generated through electric motor, diesel or
gasoline engine into potential energy and stores in a form of pressurized air,
i.e., compressed air. This conversion is achieved by compressing the air
present within, which is released on quick bursts. Some of the most commonly
used methods of air compressor are negative displacement, and positive
displacement technologies.
Market Competitors:
Several companies are now influencing the market. 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.
Air Compressor Market Segments Analysis:
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.
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Air Compressor Regional Market Analysis:
Region-wise segmentation includes North America,
Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
APAC accounts for a significant share of the market
and is expected to experience the fastest growth rate owing to the upsurge in
urbanization and escalation in industries across sectors. China, Japan, and
India are upcoming economies that are bolstering the growth of this segment.
In North America, the increasing number of industrial
infrastructure projects, and investment made across sectors such as process and
oil & gas industries can trigger the market growth.
Europe follows the lead of APAC closely with a robust
industrial sector that generates the demand for air compressors.
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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