Air Compressor Market Growth Status in North America Demands & Forecast for 2023

Allied Market Research recently published a report, titled, “North America Air Compressor Market by Type, Technology, Lubrication Method, And Country: Opportunity Analysis and Industry Forecast, 2016-2023”.

The report states that the North America air compressor market accounted $4,475 million in 2016 and is anticipated to attain $5,754 million by 2023, registering a CAGR of 3.68% from 2017 to 2023. Stationary and rotary segments are expected to be the largest contributors to market growth and are expected to create profitable opportunities for industry players.

A surge in technological innovations in product offerings, propagation of energy-efficient and cost-effective air compressors, and a rise in application areas among end users have resulted in increased adoption of air compressors in North America.

An unprecedented growth of infrastructural and manufacturing activities due to rapid urbanization has, in turn, facilitated the growth of North American air compressor market. However, market growth is seriously impeded by inconsistent demand patterns across the continent.

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The stationary segment dominated the air compressor market in 2016, with around 62% revenue share and it is anticipated to exhibit the fastest growth rate. This growth is attributed to the increase in demand from end-use industries and a rise in investment across all the process industries.

Key Benefits:

•The report provides an overview of the trends, structure, drivers, challenges, and opportunities in the North America air compressor market.

•Porter’s Five Forces analysis highlights the potential of buyers & suppliers and provides insights on the competitive structure of the market to determine the investment pockets.

•Current and future trends adopted by key market players are highlighted to determine overall competitiveness.

•The quantitative analysis of the market from 2016 to 2023 is provided to elaborate the market potential.

Rotary air compressors generated the maximum revenue in the technology segment. It represented around a 46% share of the total North America air compressor market size in 2016. Furthermore, by 2023, the segment is expected to dominate the market, with a CAGR of 3.66%, owing to the widespread adoption of advanced solutions and increased IoT spending.

The U.S. was the highest revenue contributor in 2016, accounting for around 53% share. Canada is projected to grow at the highest CAGR of 4.04% during the forecast period.

The report features the competitive scenario of the North America air compressor market and provides a comprehensive analysis of the significant growth strategies adopted by major players. The key players operating in North America air compressor market include Atlas Copco, Ingersoll Rand, Suzler Ltd., Mitsubishi Heavy Industries, Ebara Corp., Sullair, Kobe Steel, VMAC, Campbell Hausfeld, Porter Cable, and others.

Top Impacting Factors

The North American air compressor market is influenced by numerous factors, including growth potential from varied industries, high adoption due to availability of energy-efficient products, demand for technologically advanced & low-cost products, and others. These factors collectively provide opportunities for the North American air compressor market growth. However, each factor has its definite impact on the market.

Key Findings of the North America Air Compressor Market:

•The stationary segment dominated the North America air compressor market in 2016.

•The rotary and centrifugal segments are estimated to provide significant growth opportunities to the key market players.

•The U.S. market is expected to be dominant, in terms of market size. However, Canada is estimated to possess the highest CAGR during the forecast period.

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