Market Research Future (MRFR) has published a research report about the global industrial air compressor market that determines advancement for this market at 5.63% CAGR between 2016 and 2023.
The major factors driving the Global Industrial Air Compressor Market growth include energy efficiency and easy maintenance. Other factors contributing to the market growth include rising demand for energy efficient compressors, rising industrialization, rising energy consumption, and global expansion of liquefaction facilities. However, factors such as strict government regulations regarding emission of greenhouse gases and noise pollution can restrain the market growth.
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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.
- Atlas Copco (Sweden),
- Danfoss (Denmark),
- Elliott Group Ltd. (USA),
- Gardner Denver (USA),
- GE Oil & Gas (USA),
- Hitachi Ltd (Japan),
- Howden Group Ltd. (UK),
- Ingersoll-Rand PLC (Ireland),
- Kirloskar Pneumatics Co. Ltd. (India),
- Kobe Steel Ltd. (Japan),
- Mitsubishi Heavy Industries, Ltd. (Japan),
- Sullair LLC (USA), and
- Sulzer AG (Switzerland).
Global Industrial Air Compressor Industry Segmentation
The report has analyzed the Industrial Air Compressor Market based on the four segments: Type, Technology, and application, in the regions of North America, Europe, APAC and rest of the world.
On the basis of type, it includes portable, Positive displacement. Positive displacement compressors are expected to hold a larger share of the market by product type in the industrial air compressor market. Growing demand for high output pressure compressors is likely to be the major driving factor.
On the basis of technology, it includes Reciprocating, rotary and other. Reciprocating and rotary holding the largest share due to owing factors such as low maintenance cost and are more efficient. Technologically advanced receivers and dryers offer less system failure and also play a vital role reducing carbon footprints leading to the introduction of these products in varied industries.
Moreover, on the basis of application, it includes energy, oil & Gas, manufacturing, healthcare, home appliances and others. The oil & gas industry is the largest contributor to the industrial air compressor market, and also acts as a key driver of the market. Whereas Asia pacific region expected to grow the Industrial air compressor market.
The regional segmentation of the global industrial air compressor market segments the market into the regional markets known as North America, South America, Asia Pacific, Europe, and the Middle East & Africa (MEA).
During the forecast period, the Asia Pacific region is expected to hold the largest share due to the expansion of regasification plants as well as liquefaction plants, along with the rising industrialization in this region.
The MEA region has been anticipated to emerge as the fastest growing market during the forecast period due to the presence of many reservoirs in this region. Another factor contributing to the market growth in this region is the rising demand for air compressors in various manufacturing industries.
In North America and Europe, the market is significant due to the presence of gasification plants, liquefaction plants, technological advancement, established industries, and the presence of many key market players. In North America, the most important country-specific markets are USA, Canada, and Mexico. In Europe, such markets are France, Germany, Russia, and the UK, followed by the remaining countries of Europe.
Compared to North America, the market in South America is smaller because the purchasing power of people is low. The two most important country-specific markets in this region are Argentina and Brazil, followed by the remaining countries of South America.
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Table Of Contents
1 Executive Summary
2 Market Introduction
3 Research Methodology
4 Market Insights
5 Market Dynamics
6 Global Industrial Air Compressor Market, By Type
6.3 Positive Displacement
7 Global Industrial Air Compressor Market, By Seal
8 Global Industrial Air Compressor Market, By Pressure
8.2 Up To 20 Bar
8.3 20-100 Bar
8.4 Above 100 Bar
9 Global Industrial Air Compressor Market, By End-User
9.2 Oil & Gas
9.3 Chemicals & Petrochemicals
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