Market Synopsis of Industrial Air Compressor Market.
An air compressor is a device that converts power by using an electric motor, diesel or gasoline engine and others into potential energy and stores in pressurized air. Air compressor’s also functions at high temperatures and in locations where explosions and fire hazards restrict forms of energy. More power energy efficiency and easy maintenance are some of the factors which drive the market for industrial air compressor. Moreover, Increasing industrialization and growing awareness on energy saving and advancements in compressor technology are some of drivers booming the market of air compressor. Additionally, powerful and reliable energy efficient air compressor is projected to drive the market.
- Oasis Manufacturing,
- Frank technologies,
- Bel Aire Compressors,
- VMAC Company,
- Bauer group,
- Ingersoll Rand,
- Airtex Compressors,
- Best Aire LLC,
- Grainger Company,
- Sullair among others.
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Market Research Future Analysis:
Market Research Future analysis show that the global market of Industrial air compressor market is estimated to grow at US $XX billion by the end of year 2022.Geographically, Asia Pacific dominates the global industrial air compressor market due to factors such as growth of economic scale and the demand on variety & quantity of air compressors. Air compressors are increasingly being used in mining & power industries. This attributes to high investments in fixed assets in the equipment production industry and economic growth in Asia pacific region. Moreover, new policies for improved product quality by ISO are likely to boost demand for air compressors in the region.
The global Industrial air compressor is expected to grow at CAGR of XX% between years 2016 to 2022.
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Industrial air compressors are used to increase pressure by converting power into potential energy and stored as pressurized air. This pressurized air is used to compress gas for transport, cutting & welding and cooling among other applications. This has led to the increasing installation of air compressors across industries. Moreover, Regulations and requirements related to carbon dioxide emissions from products and industrial processes are expected to increase. Additionally, increasing home appliances demand in emerging regions is projected to drive the air compressor industry in the forecasted years.
Asia pacific will be the largest market
Asia-Pacific is currently the largest market for industrial air compressors, closely followed by North America .Asia pacific market is growing due to the growing natural gas infrastructure in the country. China is referred as world’s one of the manufacturing hub due to the easy availability of resources and labors. Growing requirement for superior air quality as well as reliability is projected to stimulate growth of the market. Moreover, number of companies shifted focus to developing eco-friendly devices, along with reducing maintenance requirements and also encourage consumers to migrate from traditional products to more energy efficient alternatives.
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