How Industrial Air Compressor Market will Grow in Future? Offers FMI Research
Global Industrial Air Compressor Market: Market Dynamics
Technological innovation remains one of the prominent driving market forces in the global industrial air compressor market, which results in significant replacement demand for the industrial air compressor. Moreover, over the past few years, the market has witnessed a considerable upsurge in demand for energy efficient products. Rapid industrialization of developing countries in Asia Pacific, such as China and India, and countries in Middle East & Africa, such as South Africa, is expected to fuel the market growth over the forecast period. Furthermore, upcoming investments are expected in new oil and gas projects, which in turn will create demand for industrial air compressors.
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On the other hand, factors such as noise pollution from industrial compressors pose a challenge to market growth. Performance of various end use industries will also significantly affect the growth of the global industrial air compressor market over the forecast period.
Global Industrial Air Compressor Market: Market Segmentation
On the basis of product type, the industrial air compressor market can be segmented into:
Positive displacement industrial air compressor
Dynamic industrial air compressor
Axial flow compressor
On the basis of seal type, the industrial air compressor market can be segmented into:
Lubricated industrial air compressor
Oil free industrial air compressor
On the basis of power range, the industrial air compressor market can be segmented into:
Up to 50 kW
50 kW–250 kW
251 kW–500 kW
500 kW and Above
On the basis of end use industry, the industrial air compressor market can be segmented into:
Oil & Gas
Food & Beverage
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Global Industrial Air Compressor Market: Region-wise Outlook
By region, the performance of the industrial air compressor market in North America is anticipated to remain weak owing to the sluggish performance of some of the major end use industries. The market is expected to witness moderate growth in Europe, due to existing economic uncertainty in some of the countries, which are prominent markets for industrial air compressors. Asia pacific is expected to witness fast CAGR growth over the forecast period. The major driver of the market growth in Asia Pacific is the robust ongoing industrialization in developing countries, particularly India and China. The market in Middle East & Africa is also expected to witness moderate growth, GCC countries and South Africa are anticipated to remain major contributors to the growth of the market in the region.
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