Press release
Centrifugal Air Compressor Market 2024 By Product (Portable, Stationary) | Atlas Copco, Hitachi Industrial Equipment Systems Co Ltd, Kobelco Compressors America, Inc., Kirloskar Pneumatic Company Limited.
Centrifugal Air Compressor Market
Centrifugal Air Compressor Market to cross USD 7 billion by 2024. Asia Pacific has consistently been the most substantial automotive market involving both production and consumption. In addition, robust growth in the manufacturing sector, particularly in Asia Pacific, indicates a strong potential for centrifugal air compressors market by 2024. For instance, over the last 20 years, Asia Pacific region has been contributing about 40% of the manufacturing sector.
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Oil & gas exploration, particularly in South Africa and North America, will further drive the centrifugal air compressors market over the forecast period. Rising number of offshore oil rigs along with increasing chemical processing in developing countries will drive the market development during the forecast timeframe. Portable centrifugal air compressors are widely used in the oil & gas sector for the production of crude oil and in the energy sector, where the compressed air is required at multiple locations.
Compressors that meet the noise requirements without using a complete sound enclosure are generally preferred by the manufacturers. This is due to the high cost associated with sound enclosures. Another reason is that sound enclosures make access to the compressors difficult for maintenance. This can be a limiting factor in the centrifugal air compressor market growth as government agencies of various countries have formulated regulations regarding the level of noise emitted from air compressors.
Rising number of manufacturing facilities and growing food & beverage, oil & gas, energy, and electronics sectors will positively influence the demand for centrifugal air compressors market in coming years.
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Centrifugal air compressors have been expansively used in various power, hydroelectric, nuclear, thermal, and power plants and diesel-engine generators. The region is likely to witness a substantial demand for centrifugal air compressors, especially in energy sector related applications in the near future. For example, India and China together will setup over 190 thermal power plants over the forecast timespan.
Significant industry participants are Atlas Copco, HATCO company, Hitachi Ltd., Kirloskar Pneumatic Co., Ltd., Kobelco Compressors, Inc., Dresser-Rand, etc. The market players have been focusing on expansion through strategic acquisitions to attain the competitive superiority. For example, Sullair LLC was acquired by Hitachi in the second quarter of 2017. The company achieved significant synergies from this acquisition including the strong sales network of Sullair LLC in North America.
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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Global Market Insights, Inc.
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