Industrial Air Compressor Market Analysis
An air compressor uses an electric motor, diesel or
gasoline engine and others into potential energy which has to be stored as
pressurized air. Market Research Future (MRFR) has published a research report
about the global industrial air compressor market that determines advancement
for this market at 5.63% CAGR (Compound Annual Growth Rate) between 2016 and
2023.
The major factors driving the global industrial air
compressor market growth include energy efficiency and easy maintenance. Other
factors contributing to the market growth include rising demand for energy
efficient compressors, rising industrialization, rising energy consumption, and
global expansion of liquefaction facilities. However, factors such as strict
government regulations regarding emission of greenhouse gases and noise
pollution can restrain the market growth.
Industry Segmentation
The global industrial air compressor market has been
segmented on the basis of end-use, pressure, seal, type, and lastly, region.
Based on end-user, this market has been segmented into
chemicals & petrochemicals, oil & gas, manufacturing, and others. The oil
& gas segment is likely to dominate the global market during the forecast
period due to rising investments for construction of gas liquefaction plants in
the Asia Pacific region and North America.
The pressure-based segmentation segments this market
into up to 20 bar, 20-100 bar, above 100 bar. During the forecast period, up to
20 bar segment is likely to hold the largest market share.
On the basis of the seal, the market has been
segmented into oil-lubricated and oil-free. During the forecast period, the
oil-free segment is expected to dominate the market as these compressors are
less expensive, lightweight, and produce maximum airflow and pressure.
By type, the market has been segmented into dynamic
displacement and positive displacement. During the forecast period, the
positive displacement is estimated to hold the largest share due to the rising
demand for high output pressure compressors.
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Regional Outlook
The regional segmentation of the global industrial air
compressor market segments the market into the regional markets known as North
America, South America, Asia Pacific, Europe, and the Middle East & Africa
(MEA).
During the forecast period, the Asia Pacific region is
expected to hold the largest share due to the expansion of regasification
plants as well as liquefaction plants, along with the rising industrialization
in this region. In this region, positive displacement is expected to dominate
the market. Important country-specific markets in the Asia Pacific region are
Australia, China, India, and Japan, followed by the remaining countries of the
Asia Pacific region.
The MEA region has been anticipated to emerge as the
fastest growing market during the forecast period due to the presence of many
reservoirs in this region.
In North America and Europe, the market is significant
due to the presence of gasification plants, liquefaction plants, technological
advancement, established industries, and the presence of many key market
players. In North America, the most important country-specific markets are USA,
Canada, and Mexico. In Europe, such markets are France, Germany, Russia, and
the UK, followed by the remaining countries of Europe.
Compared to North America, the market in South America
is smaller because the purchasing power of people is low. The two most
important country-specific markets in this region are Argentina and Brazil,
followed by the remaining countries of South America.
Key Players
The key players in the global industrial air
compressor industrial air compressor market include Atlas Copco (Sweden),
Danfoss (Denmark), Elliott Group Ltd. (USA), Gardner Denver (USA), GE Oil &
Gas (USA), Hitachi Ltd (Japan), Howden Group Ltd. (UK), Ingersoll-Rand PLC
(Ireland), Kirloskar Pneumatics Co. Ltd. (India), Kobe Steel Ltd. (Japan),
Mitsubishi Heavy Industries, Ltd. (Japan), Sullair LLC (USA), and Sulzer AG
(Switzerland).
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