COVID-19 Impact Review: What to Expect from Air Compressor Industry in 2020?
Air compressor is a mechanical device that compresses and pressurizes air to convert into usable power for various applications. Low maintenance, efficient operation at low cost, oil-free lubrication processes, rising popularity of portable energy efficient models are main factors driving the demand for air compressors market in the forecasted period. On the other hand, Stringent government regulations, regarding the greenhouse gases released by compressors and noise levels will hamper the growth of air compressor market.
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Portable Air Compressor Market Size in 2026:
Portable air compressor market will register revenue $11.92 Billion by the end of 2026, growing at a CAGR of 3.4% over the projected period. Its extensive usage in gas & oil exploration activities, mining and Construction industries due to the reason that the sites are always getting moved and portability of equipment is must, which will drive the growth of global Portable Air compressors market till the end of the projected period. The extensive use of stationery air compressor in home appliances, automobile and manufacturing will boost the stationery air compressor market size and this will cross $29,210 million by 2026, at CAGR more than 4.0%.
The market for Rotary type compressor will have the major share of the air compressor market. This is due to its superior properties like high efficiency, more power rating and decreases noise. It will reach upto $17.60 Billion by 2026, at a CAGR of 4.0% till 2026.
Oil free air compressor market will see a growth due to its use in F&B and healthcare solutions and it will register revenue of $28.3 Billion by 2026, at a CAGR of 3.6% till 2026. Oil filled compressors will have a good share due to its use in heavy industries like oil extraction, drilling, and mining and it will cross $12.83 Billion by 2026, at a CAGR of 4.3% till 2026.
Air compressor market for F&B sector will have the major growth in the forecasted period and it will reach upto $3.45 Billion by 2026, growing at a CAGR of 3.0% till 2026.
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Asia Pacific Air Compressor Market Size 2026:
The Asia Pacific's air compressor market share will cross over $21,24 million by the end of 2026, growing at a CAGR of 3.5%. This is majorly due to the increasing industrialization in the developing economies such as China and India. LAMEA region is anticipated to witness major growth over the forecasted period due to rising availability of raw materials and labors along with increasing awareness towards environmentally friendly products. Europe and North America air compressor markets are projected to grow at a low rate due to end-use industry saturation.
Air Compressors Market players
Global air compressors market key participants are Atlas Copco, Elgi Equipments, Ingersoll-Rand, Siemens, Kobe steel, Oasis Manufacturing, Frank technologies, Bel Aire Compressors and Sullair many others. Players using updated technologies for their compressors will have good probability of having success in the rapidly blooming market.
Mr. Abhishek Paliwal
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