Air
Compressor Market Analysis
The
global air compressor market is expected to exhibit a strong 7.5% CAGR over the
forecast period from 2018 to 2023, according to the latest research report from
Market Research Future (MRFR). The global air compressor market is mainly
driven by the growing demand for air compressors in home appliances and industrial
refrigeration units, according to the report.
Air
compressors are a vital industrial tool and are used in a wide variety of end
uses for refrigeration and other air-related purposes. The growing industrial
sector worldwide has been the major driver for the global air compressor market
and is likely to remain the key driver for the market over the forecast period,
as the demand for industrial refrigeration is likely to grow over the forecast
period. The increasing demand for cold storage units in the industrial sector is
likely to be a major driver for the global Air
Compressor Market over the forecast period. Cold storage has become a
key part of several industries in the last few years, leading to a growing
demand from the air compressor market.
The
growing development of energy-efficient air compressor units is likely to be
the major driver for the global air compressor market over the forecast period.
With many industrial players still using legacy air compressor systems that
rank low in terms of energy efficiency and environmental viability, there is
significant scope for energy-efficiency air compressor units that deliver
comparable results at a lower energy footprint. This is likely to be a major
trend in the global air compressor market over the forecast period.
Competitive Analysis:
Leading
players in the global air compressor market include Hitachi Industrial
Equipment Systems Co. Ltd., Emerson Electric Co., Bauer Compressors Inc., Elgi
Equipments Ltd., Sullivan-Palatek Inc., Doosan Portable Power, Rolair Systems, Ingersoll
Rand, Kaeser Compressors SE, Gardner Denver, Sullair LLC, and Atlas Copco AB.
Segmentation:
The
global air compressor market is segmented on the basis of product, technology,
lubrication type, end use, and region.
By
product, the global air compressor market is bifurcated into portable and
stationary. The stationary air compressor segment is likely to dominate the
global market over the forecast period due to their increasing demand in home
appliances as well as industrial units. The long-term guarantee and stability
provided by stationary air compressors is likely to drive their demand over the
forecast period.
By
technology, the global air compressor market is segmented into rotary, reciprocating,
and centrifugal. The rotary air compressor segment is likely to remain the
leading revenue generator in the global air compressor market over the forecast
period, as rotary air compressors are highly efficient and entail lower
operational costs than other types of air compressors.
By
lubrication, the global air compressor market is segmented into oil-free and
oil-filled. The oil-free air compressor segment is likely to exhibit the
highest growth in the global air compressor market over the forecast period due
to the increasing use of air compressors in industries involving products
directly consumed by consumers, such as healthcare and food and beverage.
By
end use, the global air compressor market is segmented into home appliances,
food and beverage, oil and gas, energy, semiconductors and electronics, manufacturing,
and healthcare. The home appliances segment is likely to exhibit the highest
share in the global air compressor market over the forecast period due to the
growing demand for home appliances in emerging Asia Pacific, Eastern European,
and Latin American economies.
Regional Analysis:
Asia
Pacific is the largest regional market for air compressors and is likely to
hold on to this position over the forecast period due to the growing demand for
home appliances in developing countries such as India, China, South Korea, and
the Philippines. The growing demand for refrigeration and HVAC units in Asia
Pacific is likely to be the major driver for the air compressor market in the
region over the forecast period, as the rising disposable income of consumers
in the region has driven the demand for advanced home appliances.
Europe
and North America are also likely to emerge as major regional markets for air
compressors over the forecast period due to the increasing demand for advanced,
energy-efficient home appliances and the growing demand for energy-efficient
air compressor units in the industrial sector.
Related
Reports:
