Global Air Compressor Market expected to grow from USD 31 billion in 2017 to USD 45.6 billion by 2026, at a CAGR of 4.5% during the forecast period
BROOKLYN, NY, UNITED STATES, February 8, 2018 /EINPresswire.com/ — According to a new study published by Polaris Market Research, The Global Air Compressor Market generated USD 31 billion in 2017 and is anticipated to grow at a CAGR of 4.5% during the forecast period.
Air compressors compress air at atmospheric pressure to a higher pressure, which is then harnessed and used for performing tasks. The stationary air compressors have higher capacity with large tank sizes, enabling them to operate with high-power motors. These air compressors are suitable for heavy industrial applications. Air compressors are used in industries such as petroleum, chemical, manufacturing, oil & gas, mining, power, and construction industries among others.
The demand for air compressors has increased in the manufacturing industry over the years owing to increasing industrialization, and rising energy consumption. The increasing awareness regarding use of energy efficient air compressors has resulted in increased adoption of oil free air compressors. Growing demand from oil and gas industry in Middle East and Asia-Pacific is expected to supplement the growth of the market. Introduction of low cost, and portable air compressors has increased the adoption among small organizations. Air compressors offer features such high energy efficiency, low maintenance cost, environmentally friendliness, and portability further supporting market growth. Government initiatives and technological advancements boost the growth of the market.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Air Compressor Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
Asia-Pacific generated the highest revenue in the market in 2017 owing to increasing demand of air compressors from industries such as healthcare, automotive, construction, food and beverage, electronics, and manufacturing. Growing industrialization along with rising environmental concerns has resulted in increasing adoption of efficient air compressors in the region. Increasing initiatives and investments by governments in the region and significant growth in the manufacturing sector boost the adoption of air compressors.
Competitive Landscape and Key Vendors
The global air compressors market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
The leading companies profiled in the report include Sullair, LLC, VMAC Company, Mitsubishi Heavy Industries Ltd., Atlas Copco, Ingersoll Rand Inc., Kobe Steel, Bauer Group, GE Energy, Hitachi Industrial Equipment Systems Co., Ltd., Oasis Manufacturing, Rolair Systems, and Kaeser Compressors.
Segment – 1. Type
Segment – 2. Lubrication
Segment – 3. Technology
Segment – 4. End-User
4.3Oil & Gas
Segment – 5. Region
5.2.5Rest of Europe
5.3.4Rest of Asia-Pacific
5.4.2Rest of Latin America
5.5Middle East and Africa
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Source: EIN Presswire