Press release
Air Compressor Market : Growth, Share, Driver, Demand and Forecast To 2023
Asia-Pacific accounted for the major share of the global air compressor market in 2016 owing to the increase in demand from food & beverage, manufacturing and oil & gas industries. However, Asia-Pacific is estimated to grow at the highest rate followed by Europe due to rise in demand from end-user industries.
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In 2016, the rotary-based air compressors, accounted for the maximum revenue share in the overall air compressor market by technology owing to their lower cost of operations and large production capabilities. However, the centrifugal-based air compressors is expected to provide profitable opportunities to the manufacturers owing to their superior technology resulting in efficient continuous flow rate with variable compression capabilities.
Key Findings of the Air Compressor Market:
o In 2016, the rotary technology type accounted for the maximum revenue and is projected to grow at a notable CAGR of 4.50% during the forecast period.
o The centrifugal segment accounted for around 24.19% in the air compressor market in 2016.
o Germany and France are the major shareholder in the market, accounting for more than half of the market share in 2016.
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The key players profiled in the air compressor market include Atlas Copco AB, Kobe Steel Ltd., Elgi Equipments Limited, Ingersoll-Rand PLC, Kirloskar Pneumatic Company Limited, Mitsubishi Heavy Industries Ltd., Suzler Ltd., Ebara Corporations, Porter Cable, and VMAC Global Technology Inc. Market players have adopted various strategies such as product launch, collaboration & partnership, and acquisition to expand their foothold in the market.
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