Industrial Air Compressor Market to Develop at 5.63% CAGR by 2023
Research Reports
Dec 29, 2020
Market Analysis
The industrial air compressor market will grow at a healthy 5.63% CAGR between the forecast period 2017- 2023, states the recent Market Research Future (MRFR) analysis.
An air compressor market, simply put, is a device which converts power by using electric motors, gasoline or diesel engine and others into potential energy that is stored as pressurized air. Various factors are propelling the industrial air compressor industry growth. According to the recent MRFR report, such factors include ease of maintenance and energy efficiency, increasing industrialization, growing demand for energy-efficient compressors, rising energy consumption, expanding liquefaction facilities, advancements in compressor technology, focus on energy savings, growing investments to improve cross-border oil and gas transportation network, demand for processed food, need for an efficient and advanced air compressor, and growth of various industries such as food and beverage, pulp and paper, power generation, manufacturing, pharmaceuticals, chemicals and petrochemicals.
On the contrary, high maintenance cost, availability of rental services, strict government legislation related to greenhouse gas emissions and noise pollution, and the current COVID-19 pandemic are factors that may impede the global air compressor market growth over the forecast period.
Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global industrial air compressor market based on end use, pressure, seal, and type.
- By type, the industrial air compressor market is segmented into positive displacement and dynamic displacement. Of these, the positive displacement segment will lead the market over the forecast period for the rise in demand for high output pressure compressors.
- By seal, the global industrial air compressor market is segmented into oil-free and oil-lubricated. Of these, the oil-free segment will dominate the market over the forecast period as these compressors are cost-effective, lightweight, and produce maximum pressure and air flow.
- By pressure, the global industrial air compressor market is segmented into above 100 bar, 20-100, and up to 20 bar. Of these, the up to 20 bar segment will spearhead the market over the forecast period.
- By end use, the global industrial air compressor market is segmented into manufacturing, chemicals and petrochemicals, oil and gas, & others. Among these, the oil & gas segment will stay at the forefront in the market over the forecast period for growing investments in the construction of gas liquefaction.
Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/2075
Regional Analysis
By region, the industrial air compressor market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), South America, and the Middle East and Africa (MEA). Of these, the APAC region will lead the market over the forecast period. Rising industrialization, expansion of liquefaction and re-gasification plants, expansion of re-gasification facilities, positive displacement, booming pharmaceuticals, food and beverage, and power generation sectors, and proactive & new policy reforms to support the manufacturing sector in China and India are adding to the global industrial air compressor market growth in the region.
In North America, the industrial air compressor market is predicted to have healthy growth over the forecast period and in Europe is predicted to have sound growth over the forecast period.
In South America and the MEA, the industrial air compressor market is predicted to have steady growth during the forecast period for the huge number of reservoirs coupled with the growing demand for air compressors in different manufacturing industries.
Key Players
- Mitsubishi Heavy Industries Ltd. (Japan)
- Howden Group Ltd. (UK)
- Kobe Steel Ltd. (Japan)
- Sulzer AG (Switzerland)
- Kirloskar Pneumatics Co. Ltd. (India)
- Elloitt Group Ltd. (US)
- Gardner Denver (US)
- Sullair LLC (US)
- Hitachi Ltd (Japan)
- GE Oil & Gas (US)
- Ingersoll-Rand plc (Ireland)
- Danfoss (Denmark)
- Atlas Copco (Sweden).
Request for Report Discount: https://www.marketresearchfuture.com/check-discount/2075
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com
Tags:
, Reportedtimes, iCN Internal Distribution, Research Newswire, English
YOU MAY ALSO LIKE
PW Consulting Releases Comprehensive Market Research on…
Market Analysis The industrial air compressor market will grow at a healthy 5.63% CAGR between the forecast period 2017- 2023, states the recent Market Research…
read more