What’s Driving the Centrifugal Air Compressor Market Growth? Top Manufacturers are Atlas Copco, HATCO company, Hitachi, Kirloskar Pneumatic Co., Ltd., Kobelco Compressors, Inc., Dresser-Rand
Europe Centrifugal Air Compressor market is experiencing a high demand for such machines owing to the growing adoption of automated technologies. Countries including Italy, Germany, and France are moving toward automation and adopting several smart industrial solutions for manufacturing processes. Moreover, labor shortage in the region is also a factor, which is driving the adoption of mechanized products in farms. These machines are performing several farm activities with maximum accuracy and productivity, thereby encouraging the farmers to implement the mechanized technologies in their agricultural processes. The centrifugal air compressor market is anticipated to witness a high rise in the production capacity with competitors embracing advanced methods of manufacturing.
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The Centrifugal Air Compressor Market study put together by Global Market Insights delivers a concise outlook of the powerful trends driving market growth. This report also includes valuable information pertaining to market share, market size, revenue forecasts, regional landscape and SWOT analysis of the industry. The report further elucidates the competitive backdrop of key players in the market as well as their product portfolio and business strategies.
Centrifugal Air Compressor Market in Asia Pacific has generated over USD 3 billion revenue in 2016. The region held the largest share in 2016 and is projected to observe a parallel growth trend by 2024. The region's massive share will be accredited to the enormously growing manufacturing sector in China, Korea, India, Southeast Asian nations, etc. Centrifugal air compressors have been expansively used in various power, hydroelectric, nuclear, thermal, and power plants and diesel-engine generators.
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Oil & gas exploration, particularly in South Africa and North America, will further drive the centrifugal air compressor market over the forecast period. Rising number of offshore oil rigs along with increasing chemical processing in developing countries will drive the market development during the forecast timeframe.
Significant industry participants are Atlas Copco, HATCO company, Hitachi Ltd., Kirloskar Pneumatic Co., Ltd., Kobelco Compressors, Inc., Dresser-Rand, etc. The centrifugal air compressor market players have been focusing on expansion through strategic acquisitions to attain the competitive superiority. For example, Sullair LLC was acquired by Hitachi in the second quarter of 2017. The company achieved significant synergies from this acquisition including the strong sales network of Sullair LLC in North America.
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