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Know How Centrifugal Air Compressor Market is Thriving Worldwide? Key Players - Hitachi Industrial Equipment Systems Co Ltd, Atlas Copco, Kobelco Compressors America, Inc., Kirloskar Pneumatic Company Limited.
Centrifugal Air Compressor Market
Centrifugal Air Compressor Market size will surpass USD 7 billion by 2024. High growth in the Asia Pacific automotive industry will drive the centrifugal air compressor market by 2024. Asia Pacific has been the most significant automotive market with high production as well as consumption.
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A continuous supply of high pressure compressed plant and instrument air for automobile manufacturing and assembling activities will augment the market growth. In 2015, China, India, Japan, and South Korea accounted close to 40% of the global automotive sales, including both commercial as well as personal vehicles. Continuously rising GDP and living standards of the population coupled with the increasing number of people residing in the middle and high-income groups in Asia Pacific countries will drive the centrifugal air compressor demand in the automotive industry in the near future.
Asia Pacific has been witnessing a robust industrial growth in the last two decades with the region accounting for almost 40% of the world output. Rapid industrial growth in Asia Pacific countries will propel the centrifugal air compressor market as the products are extensively used in various industries including food & beverage, oil & gas, energy, healthcare, manufacturing, etc.
The mining and oil & gas exploration activities in North America and South Africa will also boost the centrifugal air compressor market size by 2024. Compressed air is the suitable option for power especially for the environment around oil & gas platforms as the spark and heat potential from the electricity does not blend well with these surroundings. Thus, compressed air provides a gainful and safe solution to drive controls, pumps, equipment in oil rigs, refineries, etc.
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Food & beverage manufacturing needs contamination-free and consistent compressed air for running their operations and employs centrifugal air compressors for a variety of production tasks. Rising demand for packaged food items around the globe will augment the centrifugal air compressor demand for use in food & beverage sector. Global centrifugal air compressor market generated USD 840 million for food & beverage applications in 2016 and will observe significant growth over the forecast period.
Key market players are: Hitachi Industrial Equipment Systems Co Ltd, Atlas Copco, Kobelco Compressors America, Inc., Kirloskar Pneumatic Company Limited, Dresser-Rand, HATCO company, etc. The industry participants are striving to increase their share in the fragmented centrifugal air compressor market through strategic partnerships and acquisitions. For instance, in April 2017, Hitachi acquired Sullair LLC, a significant manufacturer of air compressors. Through this acquisition, Hitachi gained access to Sullair’s global sales network in the North American region.
Partial Chapter of the Table of Content
Chapter 2. Executive Summary
2.1. Centrifugal Air Compressor industry 360° synopsis, 2013 – 2024
2.1.1. Business trends
2.1.2. Product by end-user trends
2.1.3. Casing trends
2.1.4. End-user trends
2.1.5. Regional trends
Chapter 3. Centrifugal Air Compressor Industry Insights
3.1. Centrifugal Air Compressor Industry segmentation
3.2. Centrifugal Air Compressor Industry size and forecast, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.3.2. Distributor channel analysis
3.4. Industry impact forces
3.4.1. Growth drivers
3.4.1.1. High automotive industry growth in Asia Pacific and the U.S.
3.4.1.2. Rapid industrial growth in Asia Pacific
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3.4.1.3. Technological developments in the field of centrifugal air compressors
3.4.2. Industry pitfalls & challenges
3.4.2.1. Strict regulations regarding centrifugal air compressor usage
3.4.2.2. Popularity of centrifugal air compressor rental services
3.5. Growth potential analysis
3.6. Regulatory landscape
3.6.1. U.S.
3.6.2. Europe
3.6.3. China
3.7. Porter’s analysis
3.8. Company market share analysis, 2016
3.8.1. Strategy landscape
3.8.2. Emerging business models
3.9. PESTEL analysis
3.10. Pricing analysis
3.10.1. Regional pricing
3.10.2. Cost structure analysis
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