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Air Compressor Market to 2023 - Prominent Players Profiled Atlas Copco AB, Kobe Steel Ltd., Elgi Equipments Limited, Ingersoll-Rand PLC, Kirloskar Pneumatic Company Limited, Mitsubishi Heavy Industries Ltd.
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The global air compressor market was valued at $19,798.56 million in 2016 and is projected to reach $26,850.35 million by 2023, growing at a CAGR of 4.47% from 2014 to 2023. Asia-Pacific is expected to be the leading contributor to the global air compressor market, followed by Europe and North America.
In 2016, the rotary-based air compressors, accounted for the most revenue share within the overall compressor market by technology thanks to their lower value of operations and huge production capabilities. However, the centrifugal-based air compressors are expected to produce profitable opportunities to the makers' thanks to their superior technology leading to economical continuous rate with variable compression capabilities.
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The oil-free phase is anticipated to grow at the quickest CAGR of four.77% thanks to a rise in demand for reducing the value of operation by eliminating lubrication. Moreover, the medical and power generation finish users within the compressor market is additionally expected to get engaging business opportunities throughout the forecast amount (2017-2023).
Asia-Pacific accounted for the main share of the world compressor market in 2016 thanks to the rise in demand from food & liquid, producing, and oil & gas industries. However, Asia-Pacific is calculable to grow at the best rate followed by Europe due to the rise in demand from end-user industries.
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