Press release
Stationary Air Compressor Market Outlook 2024 : Expected Market Growth Rate, Major Driver And Segments | Phillips 66 Company, Idemitsu Kosan Co. Ltd., Dow Chemical Company, Bharat Petroleum Corporation Limited
Stationary Air Compressor Global Market Report
The Business Research Company presents an extensive market research report on the Stationary Air Compressor Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The stationary air compressor market size has grown marginally in recent years. It will grow from $55.91 billion in 2023 to $56.85 billion in 2024 at a compound annual growth rate (CAGR) of 1.7%. The growth in the historic period can be attributed to industrialization and manufacturing growth, construction boom, automotive industry expansion, energy efficiency concerns, maintenance and repair needs.
The stationary air compressor market size is expected to see marginal growth in the next few years. It will grow to $61.36 billion in 2028 at a compound annual growth rate (CAGR) of 1.9%. The growth in the forecast period can be attributed to renewable energy projects, e-commerce and logistics growth, focus on sustainable practices, urbanization and infrastructure development, advancements in materials and design. Major trends in the forecast period include technological integration, technological advancements, energy efficiency and sustainability, smart technology integration, digitalization of operations.
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Key Market Players:
Phillips 66 Company, Idemitsu Kosan Co. Ltd., Dow Chemical Company, Bharat Petroleum Corporation Limited, Atlas Copco AB, Ingersoll-Rand plc, Calumet Branded Products LLC, Mat Holdings Inc., Gardner Denver, Kaeser Compressors Ltd., LIQUI MOLY GmbH, Elgi Equipments Limited, Sullair LLC, Quincy Compressor, Puma Industrial Co. Ltd., Chicago Pneumatic, Fusheng Group, Bauer Compressor Ltd., ABAC Air Compressors, Sullivan-Palatek Inc., Vanair Manufacturing Inc., Gast Manufacturing, Rolair Systems, Kulmec Compressor, MAX-Air, Saylor-Beall Manufacturing Company, Ciasons Industrial Inc., EMAX Compressor, Hubei Teweite Power Technology Company Limited, Zen Air Tech Private Limited are prominent players in the industry.
Market Drivers:
The increasing demand from the manufacturing sector is expected to propel the growth of the stationary air compressor market. The manufacturing sector is a critical segment of the economy involved in transforming raw materials and components into finished products that can be sold to consumers or used in other industries. The stationary air compressors are required in the manufacturing sector to provide a reliable source of compressed air for industrial applications. They are designed to produce and store compressed air at a much greater capacity than portable air compressors. For instance, in December 2022, according to the 2021 Annual Survey of Manufactures (ASM) published by the U.S. Census Bureau, a principal agency of the U.S. Federal Statistical System, the value of shipments in the country's manufacturing sector climbed by 16.8% between 2020 and 2021, reaching $6.1 trillion. Therefore, increasing demand from the manufacturing sector is driving the growth of the stationary air compressor market.
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Market Segments Include:
1) By Product Type: Rotary, Reciprocating, Centrifugal
2) By Lubrication Method: Oiled, Oil-Free
3) By Pressure: Up To 20 Bar, 21-100 Bar, Above 100 Bar
4) By End-User Industry: Food And Beverages, Oil And Gas, Semiconductor And Electronics, Manufacturing, Other End-Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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