Air Compressor Market with COVID-19 impact by Design, Business, Application and Geography - Global Forecasts to 2026
Global air compressor market is expected to surpass the valuation of $107.56 billion through 2026.Increasing global demand for industrial refrigeration chillers is set to drive the global air compressor market growth over the forthcoming timeframe. Increasing prominence and popularity of cold chain supply throughout the world would further complement the overall market size in coming years.
Air compressors are easily available and can with multiple configurations which are capable of providing a diverse range of supply pressures, which is expected to increase their deployment over time. Apart from compressors with different supply pressures, air compressors that come with other design characteristics that decrease maintenance costs and also have a lower number of environmental hazards are experiencing tremendous demand over the past couple of years.
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Meanwhile, the market is also slated to grow exponentially due to the innovations in high-capacity portable air compressors providing better versatility and performance.
How is the growing food and beverage sector shaping the growth of the air compressor market?
Evolving buying patterns of consumers and growing demand for perishable and packaged food items are set to drive the food and beverages sector in the near future. In fact, the food and beverage sector is projected to grow at a CAGR of more than 6% through the forthcoming timeframe.
Refrigerant compressors are witnessing rising deployment in the F&B sector in order to maintain and preserve food items for a longer period of time in warehouses and cold storage areas.
Additionally, increasingly flourishing regional food processing warehouses and plants and further augmenting the need for preserving food items, which would substantially propel the product demand during the analysis timeframe.
Why are the air compressors witnessing a rising demand in Latin America?
Latin America air compressor market is anticipated to observe significant growth over the coming years due to rising product utilization throughout manufacturing processes of industrial machinery and goods as well as for power tools clamps, monitoring equipment, and air chucks.
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The manufacturing sector in the region is witnessing substantial expansion owing to easily available raw materials, cost-effective labor, and abundance of land, which would further complement the overall market demand in coming timeframe.
Regional regulatory initiatives and new plans to support the proliferation of manufacturing units and industrial hubs would further provide a growth impetus for air compressors. The Latin America air compressor market is anticipated to grow at a healthy CAGR of 3.4% over 2020-2026.
How will heavy duty centrifugal air compressors drive the growth of the air compressor market?
With respect to product segment, heavy-duty centrifugal air compressors are likely to record tremendous demand. These devices are used in the areas that need high power output capacities and air pressure. Some of these areas are manufacturing, oil and gas, construction, energy, and mining among others.
These air compressors are expensive due to their operational and manufacturing complexities, higher efficiencies, and bulky nature. Growing investments for the development of mining and construction activities should positively influence the overall market share during the projected time period.
Table of contents for this research report@ https://www.gminsights.com/toc/detail/air-compressor-market
Chapter 1. Methodology and Scope
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Scope, definition and forecast parameters
1.2. Data Sources
Chapter 2. Executive Summary
2.1. Air compressors industry 3600 synopsis, 2016 - 2026
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Technology trends
2.1.4. Lubrication trends
2.1.5. Application trends
2.1.6. Regional trends
Chapter 3. Air Compressors Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 - 2026
3.3. Industry ecosystem analysis
3.3.1. Distribution channel analysis
3.3.2. Vendor matrix
3.4. Regulatory landscape
3.5. Industry impact forces
3.5.1. Growth drivers
22.214.171.124. Proliferating growth in household appliances market
126.96.36.199. Surging automobile production
188.8.131.52. Technological advancements in air compressors
184.108.40.206. Expansion of cold storage facilities
220.127.116.11. Proliferating cold chain logistics industry
3.5.2. Industry pitfalls & challenges
18.104.22.168. Stringent regulations for utilization of air compressors
22.214.171.124. Growing popularity of rental services
3.6. Impact of COVID-19 on air compressor supply chain and production
3.7. Refrigerated warehouse capacity and market development index, by country
3.8. Import & export statistics of RAC compressors, 2017
3.9. Manufacturing capacity outlook
3.10. Technology landscape
3.11. Pricing analysis
3.11.1. Cost structure analysis
3.12. Innovation and sustainability
3.13. Growth potential analysis
3.14. Porter's analysis
3.15. Competitive landscape, 2019
3.15.1. Company market share analysis, 2019
3.15.2. Key stake holders
3.15.3. Strategy dashboard
3.16. PESTEL analysis
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