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Air Compressor Market 2023 - Competitive Analysis of Prominent Industry Players Profiled in this Study

11-28-2018 08:40 PM CET | Logistics & Transport

Press release from: Allied Market Research

Air Compressor Market 2023 - Competitive Analysis of Prominent

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.

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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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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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