The growth in air compressor market is projected to be 4% during the year 2018-2027 and it will reach to USD 26 Bn in the year 2018-2027. The automobile sector has witnessed growth after its revival from 2008 financial breakdown. Automotive industry is expected to become one of the biggest end user segments for industrial air compressors market.
Air compressors are widely used in different applications. Compressed air is regarded as the fourth utility after electricity, natural gas and water. It is a device that converts power using electric motor, diesel and gasoline into potential energy stored in pressurized air, known as compressed air. Compressor is basically of positive displacement compressor which is further comprises of reciprocating and rotary compressor and centrifugal compressor. The major market segmentation is on basis of type, technology, lubrication method, power rating and end-user industry. Air compressor market is driven by major end user industries such as healthcare, manufacturing, home appliances, oil & gas, and others. The Air Compressor Market is expected to witness better growth on the account of factors which include better technically equipped machinery with good quality equipment.
Asia Pacific region is currently the largest market for the air compressors on the account to rapid industrialization and urbanization .The countries such as China and India are set to increase the production of Air compressors. North America is also focusing towards generating investment opportunities for the key players and developing industrial base. The research and development activities in Europe in order to develop superior designs and to reduce environmental degradation are resulting in the expansion of the market. The automobile sector in Europe is dominating market in the region. Germany contributes towards largest automobile share in Europe.
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Government regulations will boost Air Compressor Market
The global air compressor market has a very positive view as it is being seen as a renewable source of energy. The adoption of Air-compressor by different industries is a major growth driver for the Air compressor market. The governments of various countries are making policies which are contributing towards industrial development and is also eco-friendly thereby, helping the industries to establish themselves. The encouragement of economic environment is also a factor for the growth of air compressor market. The popularity of the automobiles in the global market is also a factor that drives the market.
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Noise pollution is a major restraining factor which will hamper the growth of air compressor market in future. Another challenge is the emission of greenhouse gases causing air pollution. In order to maintain ecological balance, mandatory framework has been formed. Strict application of these rules and guidelines could be a major restraining factor towards the growth of air compressor market.
The report titled,” Air Compressor Market: Global Demand Analysis, Growth & Opportunity Outlook 2027” delivers detailed overview of the global air compressor market in terms of market segmentation by type, by technology, by lubrication, by power rating, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the global Air Compressor market which includes company profiling of key companies like Atlas Copco AB, Kobe Steel Ltd.,Elgi Equipments Limited, Ingersoll-Rand PLC, Kirloskar Pneumatic Company Limited, Mitsubishi Heavy Industries Ltd, Suzler Ltd., Ebara Corporations, Porter Cable, VMAC Global Technology Inc., Campbell Hausfled, Doosan Infracore Portable Power. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of global air compressor market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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