Industrial Air
Compressor Market Insight
Market
Research Future reveals that the global industrial air compressor market is
ready to expand at 5.63% CAGR during the forecast period 2016-2023. The
industrial air compressor is gaining populace for the past five years due to
rising industrialization, which is going to take the market on expansion at a
rapid pace owing to factors prevailing in the energy and power sector. A detailed analysis report
of COVID-19 impact on Industrial Air Compressor Market Analysis is provided with the
report.
Key Players
The
vital players of global industrial air compressor market are listed as
Kirloskar Pneumatics Co. Ltd. (India), Ingersoll-Rand plc (Ireland), Atlas
Copco (Sweden), Hitachi Ltd (Japan), Howden Group Ltd. (UK), Gardner Denver
(US), Danfoss (Denmark), Sullair LLC
(US), GE Oil & Gas (US), Sulzer AG (Switzerland), Kobe Steel Ltd.
(Japan), Elliott Group Ltd. (US), and
Mitsubishi Heavy Industries, Ltd. (Japan).
Market Drivers
& Trends
An
air compressor device is known for energy efficiency and required easy
maintenance, which has stood as one of the foremost reasons for the market’s
growth. The device is known for converting power with the help of using diesel,
or gasoline engine electric motor, and others into potential energy, which is
stored in the form of pressurized air. Its abilities and efficiency have
enabled the product to work according to the needs and demand of the industry.
At
the same time, rising industrialization is also highly contributing to driving
the market for air compressors. At present, the rising demand for
energy-efficient compressors, increasing energy consumption, and expansion of
liquefaction facilities globally has also been included in the list of factors
in the study conducted by MRFR. The study also claims that around 70% of the
manufacturers use compressed air in machine tools spray painting, material
handling, and separation equipment due to safety and convenience, which is yet
another critical factor behind the market’s growth.
On
the flip side, factors such as stern government regulations related to noise
pollution and emission of greenhouse gases could act like restraint the global
industrial air compressor market. Yet, the advancements in compressor technology
and concerns with energy savings is anticipated to bring rewarding business
prospects to the global industrial air compressor market.
Global Industrial
Air Compressor Market Segmentation
In
the study conducted by MRFR, the industrial air compressor
market has been segmented by the elements of type,
seal, pressure, and end-use.
By
type: Dynamic and positive displacement are the segments. Wherein, positive
Displacement is assessed to occupy the largest share in support of rising
demand for high output pressure compressors.
By
seal: Oil-lubricated and oil-free are the segments. Wherein, the oil-free
segment is likely to lead the market as the compressors are lightweight,
in-expensive, and produce maximum airflow and pressure.
By
end-use: Oil & gas, chemicals & petrochemicals, manufacturing, and many
more are the segments. Among these, the oil & gas segment is likely to lead
the global industrial air compressor market owing to the rising investments for
the construction of gas liquefaction plants in the regions of the Asia Pacific
and North America.
Regional Outlook
The
industrial air compressor market, regionally, has been studied across the
region of Asia Pacific, Europe, North America, the Middle East & Africa,
and South America.
Of
which, the Asia Pacific region is likely to occupy the largest share during the
assessment period owing to the rising industrialization and expansion of
regasification and liquefaction plants in the region. China is the foremost
country for industrial air compressors as it initiated the development of
re-gasification facilities in the country. Also, in the Asia-Pacific region,
positive displacement can lead the industrial air compressor market.
The
Middle East & Africa is also projecting to expand at the fastest rate
throughout the growth period with the presence of a large number of reservoirs
in this region. With this, the rising demand for air compressors in various
manufacturing industries is also to promote the industrial air compressor
market in these regions in the coming years.
Browse Full Report @ https://www.marketresearchfuture.com/reports/industrial-air-compressor-market-2075
About Market Research Future:
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Market Research Future (MRFR), we enable our customers to unravel the
complexity of various industries through our Cooked Research Report (CRR),
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