Press release
Reciprocating Air Compressor Market to cross USD 6.4 Bn by 2024, Key Players are: Atlas Copco, Sullair, LLC, Gardner Denver, Ingersoll-Rand, Quincy Compressor
Reciprocating Air Compressor Market
Reciprocating Air Compressor market will surpass USD 6.4 billion by 2024; according to a new research report.
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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.
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.
Growth Drivers: -
1. Growth in automotive industry in Asia Pacific
2. Significant growth in the household appliances market
Major players in reciprocating air compressor market are: -
1. Atlas Copco
2. Quincy Compressor
3. Elgi Compressors
4. Emersion Climate Technologies
5. Gardner Denver
6. Sullair
7. Ingersoll-Rand
8. Kaeser Kompressoren
9. Frank Technologies
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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.
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.
Browse more info. @ 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
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