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Centrifugal Air Compressor Market Growth Forecast Report to 2024 | Atlas Copco, Kobelco Compressors, Dresser-Rand, Hatco Corporation, Hitachi
Centrifugal Air Compressor Market
Estimates claim the overall vehicle sales for Asia Pacific and the Middle East regions have rose to 43.4 million units in 2015 from 35.2 million units in 2010. Moreover, taking into account the global automotive sales, in 2015, India, China, South Korea, and Japan accounted for over 40% of the total sales – a factor which validates the rapid expansion of automotive industry in APAC. Considering these facts, analysts predict the remarkable growth of the automotive industry to have a rendering impact on the regional centrifugal air compressor market, given the continuous supply of high pressure compressed and instrument air for automobiles and manufacturing activities.
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Apart from automotive, rapid industrialization trends in oil & gas, healthcare, energy, manufacturing, and food & beverage sectors have also left a noticeable impact on the regional centrifugal air compressor industry trends. Taking into account the significant deployment of centrifugal air compressor in several types of power plants including hydroelectric, thermal, diesel-engine generators, and nuclear, it is expected that the regional centrifugal air compressor market will witness remarkable growth prospects.
According to reports, India and China are projected to establish over 50 and 160 new projects of thermal power units respectively in the forthcoming years which is overtly expected to have a perpetual impact on the growth of centrifugal air compressor market. Based on these grounds, the industry analysts quoted Asia Pacific to be one of the most lucrative hubs for expansion of centrifugal air compressor industry having held the highest share in the year 2016 by generating over USD 3 billion in revenue.
Given the massive deployment of centrifugal air compressor across myriad applications, the global centrifugal air compressor industry stands to gain rewardable proceeds in the coming years. Industry analysts further anticipate strategic collaborations and M&As to improve the profitability landscape and consumer base of this business sphere. Global Market Insights, Inc., forecasts centrifugal air compressor market to exceed a valuation of USD 7 billion by 2024.
Centrifugal Air Compressor Market by End-user
1. Food & Beverages
2. Oil & Gas
3. Energy
4. Semiconductor & Electronics
5. Manufacturing
6. Healthcare
7. Others
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Centrifugal air compressor market players are:
1. Hitachi Industrial Equipment Systems Co Ltd
2. Atlas Copco
3. Kobelco Compressors America Inc.
4. Kirloskar Pneumatic Company Limited
5. Dresser-Rand
6. HATCO company
Centrifugal air compressor market, of late, has been witnessing tremendous growth prospects, the reason for which can be attributed to the plethora of innovations and product advancements across this business space. The role of compact and portable compressors in automotive, healthcare, food & beverage, and oil & gas industries has increased to quiet a commendable extent, owing to which several centrifugal air compressor industry players are launching application specific products with easy installation and usage. An instance hot off the press is of Atlas Copco, launching light weight mobile compressors especially designed for utility vehicles and other OEM applications. This advanced compressor is a multi-function machine which can deliver both air and power when equipped with optional generator.
Industry analysts are further expecting these compact and portable air compressors to fit into more vehicle types and applications including highway works, which in turn is stimulating the commercialization potential and profitability landscape of the global centrifugal air compressor industry. If reports are to be believed, the overall centrifugal air compressor market size was worth over USD 5.5 billion in 2016.
Related News: https://www.globenewswire.com/news-release/2017/11/20/1197351/0/en/Centrifugal-Air-Compressor-Market-to-hit-7bn-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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