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Air Compressor Market Report Outlying Current Leaders and Recent Trends
Make a Direct Purchase of the latest Air Compressor Market Report published in the month of Sep-2022. Click the below link to initiate the purchase: https://strategicmarketresearch.com/buy-now/air-compressor-market
Air Compressor Market Insights:
• In 2021 the stationary segment contributed the highest revenue share of nearly 60% on the basis of type.
• On the basis of product, in 2021, the rotary compressors segment held a significant position with the largest market share of 45%.
• With a revenue share of nearly 30%, the manufacturing segment ruled the market on the basis of application.
• The oil-filled segment ruled the market with a revenue share of 65% in 2021.
• Geographically, Asia Pacific generated a revenue of over $9,911.4 million and ruled the overall air compressor market.
Air Compressor Market Dynamics
The need for air compressors is expanding across several industries due to numerous benefits such as cost-effective operation, the rapid expansion of variable-speed systems, low maintenance, and retrofitting of existing systems. The growing need for compressed air in various end-use sectors, the requirement for energy-efficient compressors, and the replacement of current compressors with more efficient units are driving the Air Compressor market.
The need for compressed air is increasing in a variety of end-use industries, including automotive, food and beverage, and manufacturing. The automobile is the biggest end-use industry for compressed air, and demand is increasing due to increased vehicle production. Another major end-use industry for compressed air is the food and beverage industry, and demand is increasing due to the requirement for compressed air in food packaging and processing.
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Air Compressor Market: A thorough Segmentation Analysis
The worldwide air compressor market segmentation has been done on the basis of type, type of lubrication used, product, application, and region.
By Type:
• Stationary
• Portable
By Product
• Axial Compressors
• Reciprocating compressors/Piston Compressors
• Centrifugal Compressors
• Rotary Compressors/Screw Compressors
By Type of Lubrication Used
• Oil-Free
• Oil-Filled
By Application
• Mining Industry
• Oil and Gas
• Home Appliances
• Manufacturing
• Electronics and Semiconductors
• Food & Beverage
• Healthcare/Medical
• Others
By Region
North America
• United States
• Canada
Europe
• Germany
• Italy
• France
• United Kingdom
• Spain
• Rest of Europe
Asia Pacific
• India
• China
• Australia
• Japan
• South Korea
• Rest of Asia Pacific
LAMEA
• Mexico
• Brazil
• Argentina
• Qatar
• UAE
• Nigeria
• South Africa
• Rest of LAMEA
With a revenue share of nearly 30%, the manufacturing segment ruled the market on the basis of application. The increased usage of air compressors in a variety of manufacturing applications, like sandblasters in machine shops, welding & cutting equipment, pneumatic nail guns, molding gas tanks, and spray painting of automobiles, has fueled category expansion in recent years. Furthermore, increased demand for energy-efficient and cost-effective air compressors and companies' desire to purchase new equipment support the growth of the air compressor market.
Geographically, Asia Pacific generated a revenue of over $9,911.4 million and ruled the overall air compressor market. This is due to the existence of a significant number of prominent companies in China and India, as well as the semiconductor industry's strong industrial foundation in China and Taiwan. Furthermore, increased atomization and automation use in industries like manufacturing, semiconductor & electronics, food & beverage, home appliances, energy, healthcare, and oil & gas are boosting regional market expansion. Furthermore, the active participation of key players in the creation of manufacturing facilities and supply chain operations in the region drives APAC market growth.
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Key industry Players in the Air Compressor Market
• VMAC Global Technology, Inc.
• Mitsubishi Heavy Industries, Ltd.
• Sulzer, Ltd.
• Kobe Steel, Ltd
• Kirloskar Pneumatic Co., Ltd
• Kaishan Compressor, LLC
• Hitachi, Ltd.
• Kaeser Compressors
• General Electric Company
• Design Compressor Co., Ltd
• Ciasons Industrial, Inc.
• Atlas Copco AB
The worldwide air compressor market in 2021 was $39.10 billion, and it will reach $51.59 billion by 2030, with a 3.74% CAGR from 2021 to 2030. Strict regulations for food safety are anticipated to increase the need for air compressors in the F&B industry. High investment in the oil and gas exploration process is anticipated to further boost the market growth in North American and Middle Eastern nations.
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