Press release
By 2024, Reciprocating Air Compressor Market to surpass $6.4 BN | Quincy Compressor, Atlas Copco, Gardner Denver, Sullair LLC, Ingersoll-Rand, Kaeser Kompressoren
Reciprocating Air Compressor Market
Rapid industrial development in the Asian countries will propel the reciprocating air compressor market they are widely used in various industries including food & beverage, oil & gas, energy, electronics, manufacturing, etc. Asia Pacific has been witnessing a healthy industrial development over the past few decades with the region accounting close to 40% of the global output. Automotive, electronics, manufacturing, and mining activities have witnessed a sharp growth in the last decade. The region's lower labor prices, easy raw material availability, and rising commodities demand have transformed it into a manufacturing hub of the entire world. Reciprocating Air Compressor market will surpass USD 6.4 billion by 2024; according to a new research report by Global Market Insights, Inc.
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Mexico reciprocating air compressor market will seize over half of the volume share in 2024 due to mature household and food & beverage industries coupled with significant growth in manufacturing industry. This in turn will positively influence the Latin America reciprocating air compressor market throughout the forecast period.
Stationary product type is expected to dominate the reciprocating air compressor market over the predicted time. This is owing to the high strength, efficiency, low oil level switch, automatic tank drain, and other superior features of the product. Significant demand for the product from automotive, manufacturing and other end-use industries will boost the segment demand by 2024.
Reciprocating Air Compressor Market by Application:
1. Home appliances
2. Food & beverage
3. Oil & gas
4. Energy
5. Semiconductor & electronics
6. Manufacturing
7. Healthcare
8. Others
Home appliances application segment will capture more than half volume share in the application segment in coming years. This is all due to its extensive usage in air conditioners, freezers, refrigerators and other household appliances. Development in home appliances industry will boost the reciprocating air compressor market in the forecast timeframe.
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The reciprocating air compressor industry is categorized into single and double acting technology-based air compressor. From these, single-acting will hold more than one-third share of the complete segment by 2024 owing to its wide acceptance and usage in automotive workshops and also used for household purposes.
The industry is split into lubrication type which include oil filled and oil free. Oil filled segment will capture more than half of the whole share in 2024 owing to its superior mechanical features coupled with substantial use in manufacturing and industrial areas.
Major reciprocating air compressor market players include:
1. Sullair LLC
2. Kaeser Kompressoren SE
3. Ingersoll-Rand
4. Gardner Denver
5. Elgi Compressors
6. Atlas Copco
7. Quincy Compressor
8. Vanair
9. Frank Technologies
10. Emersion Climate Technologies Inc.
11. Hertz
The size of reciprocating air compressors is one the crucial factors restraining the market growth. The size of a compressor tends to increase with increased capacity. Bulkier size results in higher amounts of noise and air pollution along with problems related to space limitations. Larger compressors are also less efficient than smaller ones leading to higher energy consumption.
Related News: https://www.globenewswire.com/news-release/2018/05/07/1497300/0/en/Reciprocating-Air-Compressor-Market-to-cross-6-4bn-by-2024-Global-Market-Insights-Inc.html
About Global Market Insights:
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.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
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