New York
City, 21 January 2019: The Report Air Compressor Market is anticipated
to reach over USD 45.6 billion by 2026. In 2017, the stationary air compressor
segment dominated the global market, in terms of revenue. Asia-Pacific is
expected to be the leading contributor to the global market revenue during the
forecast period.
The increasing applications of air
compressors in industries such as healthcare, construction, mining, automotive,
and oil & gas among others are expected to support the growth of this
market. Other driving factors include high energy efficiency, low maintenance
cost, environmentally friendliness, portability, ability to deliver variation
in supplied pressure. The increasing awareness regarding use of energy
efficient compressors would boost the market growth during the forecast period.
However, rising cost of raw material, noise pollution, and contaminated
compressed air hamper the growth of the market. Growing demand from emerging
economies, and technological advancements are factors expected to provide
numerous growth opportunities in the coming years.
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Air compressors are used to power
a variety of equipment in diverse applications such as automated tools, spray
painting equipment, material handling and separation equipment. There has been
an increasing demand of energy efficient air compressor over the years. Use of
energy efficient air compressors helps in conserving electricity and reducing
costs. Thus, launch of energy efficient air compressors by leading players in
the market would provide growth opportunities in the market.
Turbocor and thermoacoustic are some
emerging technologies in the air compressor segment. Compressors based on
turbocor technology offer an oil free design with comparatively lesser moving
parts, and deliver high performance and reliability. Thermoacoustic compressors
utilize a thermoacoustic engine and a positive displacement reciprocating
compressor. These upcoming technologies along with research and development
would provide new opportunities in the air compressor market.
Competitive Landscape and Key Vendors:
Asia-Pacific generated the highest
revenue in the market in 2017, and is expected to lead the global market
throughout the forecast period. The presence of emerging industries such as
healthcare, agriculture, construction, and automotive, substantial initiatives
in research and development, and favorable government policies drive the market
growth. Rapid industrialization and growth of manufacturing industry further
support market growth in the region.
The well-known
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 among others. These
companies launch new products and collaborate with other market leaders to
innovate and launch new products to meet the increasing needs and requirements
of consumers.
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