Press release
How Air Compressor Market Growing Rapidly…? Leading Manufacturers: Gardner Denver, Atlas Copco, Sullair, LLC, Quincy Compressor, MAT Holdings, Inc.
Air Compressor Market
High degree of industrialization and construction activities in Asia Pacific countries will boost the regional air compressor demand over the forecast period. The region is also dominated by many small and medium scale compressor manufacturers, especially in China. Availability of the machines at significantly lower rental/usage costs along with a high demand for compressed air across various end-user industries will positively influence the air compressor market.
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Rapid industrial development in the Asia Pacific region will be the key growth enabler for the air compressor market. This growth can be attributed to the increasing usage of compressed air in various end-use industries. Countries including China, India, Japan, Indonesia, South Korea, etc., have witnessed a high industrial growth in the last two decades.
The key players in air compressor market are:
• Atlas Copco
• Vanair
• VMAC Company
• Hitachi Industrial Equipment Systems
• Belaire Compressors
• Sullivan-Palatek
• AireTex Compressors
• Ciasons Industrial
• Zen Air
• Ingersoll-Rand
• Quincy Compressor
North America and Europe based companies are shifting their production bases to these countries for lower labor costs, easy availability of raw materials, and proximity to high potential markets. Increasing oil & gas exploration in North America and the Middle East will also fuel the demand for compressed air as it is extensively employed for drilling. These factors will significantly influence the air compressor market growth over the forecast time frame.
Air compressors are based on rotary, reciprocating, and centrifugal technologies, where rotary products are available in form of screw, scroll and others such as lobe, vane, etc. In terms of volume, the rotary air compressor segment will show more than 3% CAGR from 2018 to 2024. The product is gaining popularity over reciprocating types owing to various properties including higher efficiency, lesser wear and tear, and easier maintenance.
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Manufacturing sector will be the most important application sector for portable air compressor market as they can be easily carried to different plant locations to supply compressed air. Compressed air is used for various activities in this sector, including supplying plant air for paint spraying, coating, and sand blasting, process and instrument air for operating pneumatic machines and equipment, as well as providing breathing air to operators, etc.
The high initial purchase, operational, and maintenance costs associated with air compressor may hamper the market growth over the forecast period. For an instance, portable air compressors cannot be disassembled in the field for maintenance and are relatively expensive as compared to other compressors such as screws, pistons, etc., restricting the industry growth in coming years. This will further hamper the entire market growth in future. Stringent regulations associated with the noise pollution of the air compressor will also a key restraining factor for air compressor market growth by 2024.
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Arun Hegde
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Global Market Insights, Inc.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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