An air compressor can be described as a device that enables the conversion of power into potential energy. A standard or portable air compressor holds this potential energy in the form of compressed air by reducing its volume. Once a tank hits its upper limit, the high pressure air compressor turn offs. The air compressor parts release the compressed air as soon as a user puts it in use. Commercial and industrial air compressor varieties work along the same principle with a few tiny changes depending on the scale. A quiet air compressor has found an application in a wide variety of end-user industries like automotive, transport, packaging, food & beverages, etc. Thus, the Air Compressor Market is well positioned to register excellent growth figures during the forecast period of 2014-2020.
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Scope & Regional Forecast of the Air Compressor Market
With the latest research on climate change spelling trouble on a global level, the Air Compressor Market has witnessed the demand for air compressors with superior energy efficiency rising. The latest compressor technology has led to a reduction in maintenance expenses and resulted in a strong reception among on the general public as well as industrial clients. Various R&D efforts for enhanced energy efficiency are also expected to result in air contamination as well as noise reduction improvements.
Thanks to technological innovations and gradual global warming taking place right now, the Air Compressor Market is predicted to exhibit a CAGR of 7.3% during the forecast period. This kind of growth is expected to be supplemented with a revenue of $29.9 billion in 2020. As global population slowly weans itself away from energy powered by fossil fuels like coal, the dependence on inconsistent renewable energy like solar or wind is expected to present some tricky challenges. But the Air Compressor Market is confident that its efforts to improve the energy efficiency will eventually result in superior machines requiring only a fraction of what is needed to power modern day versions.
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Segmentations & Key Players Involved in the Air Compressor Market
The Air Compressor Market can be broken down into various segments as follows:
Type: Portable and Stationary.
Technology: Reciprocating, Rotary and Centrifugal.
Lubricating Type: Oil lubricated and Oil-free.
Geography: North America, Europe, Asia-Pacific and LAMEA.
Some of the key players involved in the Air Compressor Market are as follows:
- Atlas Copco
- Ingersoll Rand Inc.
- Sulzer Ltd.
- Krobe Steel
- Ebara Corp.
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