According to Research Study published by Custom Market Insights (CMI), The global air compressor market presented a growth of USD 31.86 billion by the year 2021 and is expected to reach USD 55.98 billion by the end of 2030 at a compound annual growth rate of 5.5% during the forecast period.
Browse the full “Air Compressor Market Size, Trends, and Insights By Mode of Operation (Reciprocating, Rotary, Centrifugal), By Type (Portable, Stationary), By Lubrication (Oil filled, Oil-free), By Application (Food and beverages, Manufacturing, Healthcare, Electronic and semiconductors, Home appliances, Oil and gas, energy, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” report at https://www.custommarketinsights.com/report/air-compressor-market/
Market Dynamics
Drivers
There are a large number of applications of air compressors in various industries. There increased usage in the packaging, transportation, construction and pharmaceuticals industry will lead to the growth of the market. Industrialization will lead to an increase in manufacturing activities. And this shall provide a major potential and it shall provide opportunities that will lead to the growth of the market. The economic developments and the industrial developments have been more Indonesians like in Africa. Initiatives are taken by the government that increased industrial automation will also help in the growth of the market.
Restraints
there are many factors that will hamper the growth of the market during the forecast period. Poor practices and artificial demand will increase the losses in the industry. Leaks will also inhibit the growth of the market. One of the largest wisps is that of air leaks. This usually takes place at the manufacturing plant. The operation of the air systems at higher pressures Leads to increased losses. All of these factors also increase the time which is nonproductive and they shall have a more significant effect on the growth of the market.
Opportunities
As various nations are engaged in reducing the number of carbon emissions and also the reduction of greenhouse gases the need for sustainable products has increased. The need for energy-efficient solutions has grown in recent years. All this is possible with the use of compressed air solutions. The safer and easier generation of compressed air has increased the need for air compressors for many industries. The reliability of compressed air solutions has increased in recent years. The use of modern compressors has also increased and it shall provide major opportunities for the growth of the market during the forecast period.
The use of these compressors helps in having better savings and a clean environment. These compressors are seen as environment-friendly products as they make very less noise and do not need a lot of fuel. One of the features that will lead to the growth of the modern compressors market and shall provide opportunities for the growth of the market is that of heat recovery. The energy that is recovered is used for the preheating of feedwater. And this serves to be a great feature for the industries that are engaged in power generation.
Challenges
Strict rules and regulations are adopted by various nations like the United Kingdom, the United States and Canada. many European countries are launching new standards for emission control. These standards are aimed at improving air quality with the use of compressors. It shall help in decreasing the number of contaminants that are discharged into the environment. When it comes to the manufacturing of such compressors the performance and the design of these products need to be altered by the manufacturers.
To reduce the number of emissions let out, in the end, weren’t many nations across the world have adopted strict regulations as well as rules, especially in industrially advanced nations. They help in reducing the number of health hazards associated with the emission of such gases. But all of these stringent policies will hamper the growth of the market during the forecast period.
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Report Highlights
On the basis of the type of the product, the Rotary segment will have a larger market share as they are used on a large scale in many industries like mining, electric power, mechanical metallurgy and paper making. On the basis of application, the segment of manufacturing has emerged as the largest market pertaining to the huge number of industries that have come up in recent years due to the active support provided by the government to the various emerging businesses which has led to this phase of industrialization.
On the basis of lubrication, the segment of oilfield has emerged as the largest market due to the rapid use of air compressors that are used in this sector. On the basis of product type, the segment of stationary air compressors has emerged as the largest market due to the extensive demand for stationary equipment in the industrial sector. On the basis of geography, the region of Asia Pacific has emerged as the largest market pertaining to the huge number of industries located in this sector.
Regional Snapshots
The Asia Pacific region will have the largest market share in the coming years. This segment has dominated the market in the past and it will continue to grow well in the coming years. As the government of various nations in the Asia Pacific region are engaged in making investments for the development of the infrastructure and for rapid industrialization. As there has been rapid industrialization in various regions of the Asia Pacific region there shall be an increased need for air compressors.
Air compressors are used in many industries like the manufacturing industries, gas and oil industry, home appliances industry, beverages and food industry. As many manufacturers of air compressors are present in the Asia Pacific region, especially in the nations like China as well as India the demand for these products will continue to grow in the coming years. As there is large-scale production of the semiconductors and electronics in these nations the market is expected to grow well in the coming year. in the North American region and the European region, steady growth will be noted in the coming years period Eastern Europe has increased the number of investments made in the industrial sector due to which the need for these compressors will continue to grow.
Key Players
- Aerzener Maschinenfabrik GmbH
- Ciasons Industrial Inc.
- Desran Compressor (Shanghai) Co., Ltd.
- Doosan Corporation (Doosan Infracore Portable Power )
- Atlas Copco AB
- Berkshire Hathaway Inc. (Campbell Hausfeld)
- Ebara Corporation
- Elgi Equipments Limited
- Gardner Denver Holdings, Inc.
- Hitachi, Ltd. ( Sullair, LLC)
- Indo-Air Compressors Pvt. Ltd.
- NINGBO XINDA GROUP CO., LTD (AUGUST Screw Air Compressor)
- Stanley Black Decker Corporation (Porter Cable)
- Suzler Ltd
- Ingersoll-Rand plc
- Kirloskar Pneumatic Company Limited
- Kobe Steel, Ltd.
- Mitsubishi Heavy Industries Ltd.
- VMAC Global Technology Inc
Table of Contents: https://www.custommarketinsights.com/report/air-compressor-market/#table-of-contents
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