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Air Compressor Market 2023 - Competitive Analysis of Prominent Industry Players Profiled in this Study
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The increase within the adoption of energy economical air compressors across totally different trade verticals is anticipated to drive the demand for the air compressor market throughout the forecast amount. Also, the rise in demand from the end-user industries like food & liquid, oil & gas, producing, and power generation is additionally expected to drive market growth within the coming back years.
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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