Press release
Industrial Air Compressor Market Surge Towards Solid Growth by 2024
Air compressor is the equipment that converts power energy into potential energy that is stored in the pressurized air. These air compressors are used as a gasoline engine, or electric motor or diesel engine to convert power energy into potential energy. Several different methods are used for air compression. Air compressors have many applications such as driving pneumatic HVAC control system valves, to fill gas cylinders, filling high-pressure air tanks, filling tires, large-scale industrial processes and much more. Centrifugal compressors are largely used in the various applications.
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Global Industrial Air Compressor Market: Growth Factors
Pressurized air, which comes from the industrial air compressor, is utilized for cooling, packaging, cutting & welding, power pneumatic tools, freezing, and transport which is expected to boost the global market growth. Some of the major driving factors of the global market are increasing awareness about energy saving and efficiency, and rapid industrialization in emerging economies. In addition, the government focuses on large investment on improving cross-border oil & gas pipeline networks; this is anticipated to foster the global industrial air compressor market growth in the near future. Increasing industrial network in the may further boost the global market. Exponential growth in the food packaging, automotive and oil companies in the global industrial air compressor market also foster the growth in global market.
Global Industrial Air Compressor Market: Segmentation
The global industrial air compressor market is bifurcated based on product type are dynamic, and positive displacement. The positive displacement is further sub-segmented as reciprocating, and rotary. Further, the global market is categorized based on out power as 0–50 kW, 50–250 kW, 250–500 kW, and above 500 kW. Based on end-user, the global industrial air compressor market is fragmented as food & beverages, manufacturing, chemicals & petrochemicals, power generation, oil & gas, and others.
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Global Industrial Air Compressor Market: Regional Analysis
North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa are included in the geographical segmentation. Asia Pacific accommodated for the highest market share owing to vast distribution channel available. North America is also growing at fastest rate due to high demand for industrial air compressors in this region. Developing countries such as India, China, Thailand, and Australia are anticipated to witness growth owing to significant growth in the automotive and other industries. China also shows considerable growth in the global industrial air compressor market. However, reducing LNG imports in the U.S., South Korea, and Japan are restraining the global market growth.
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Global Industrial Air Compressor Market: Competitive Players
Major players in the global industrial air compressor market are Kirloskar Pneumatics Co. Ltd., Elliot Group Ltd., Mitsubishi Heavy Industries, Ltd., Kobe Steel Ltd., Gadner Denver, Inc., and Howden Group Ltd. Other players include Sulzer AG, Atlas Copco AB, Ingersoll-Rand PLC., Siemens AG, GE Oil & Gas, Doosan Infracore Co. Ltd., Man SE, Hitachi Ltd., and Kobe Kompressoren.
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