Industrial Air Compressor Market 2022 | Covid19 Impact Analysis | Business Outlook, Growth, Revenue, Trends and Forecasts 2030
Research Reports
Apr 13, 2022
Industrial air compressor Market will grow at a higher USD 37.64 Billion by CAGR of 4.56% to account for a higher market value, according to the latest research report from Market Research Future (MRFR). The report provides a thorough analysis of the global Industrial air compressors Market movement over the forecast period by analyzing the global industrial air compressors market’s historical growth trajectory and present conditions. Using this information, accurate forecasts for the market’s movement over the forecast period are made in the report. The report provides a comprehensive overview of the global industrial air compressors market’s movement over the forecast period. All aspects of the global industrial air compressors market are analyzed in the report in order to provide a comprehensive market overview. Leading players in the global industrial air compressors market are profiled in the report. The impact of the COVID-19 pandemic on the global industrial air compressors market is also analyzed in the report.
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Industrial air compressors are devices that store compressed air to be used as energy. Industrial air compressors are usually used in areas where fire hazards restrict the use of other forms of energy. Factors such as the high energy efficiency of air compressors and their easy maintenance are the major drivers for the global industrial air compressors market. The growing manufacturing sector has been a major driver for the global industrial air compressors market over the last few years. Manufacturing entities often use industrial air compressors as a form of backup power for machine tools, material handling, spray painting, and separation equipment. The growing demand for machine tools has thus been a major driver for the global industrial air compressors market over the last few years. The growing manufacturing sector in emerging economies in Asia Pacific and Latin America is likely to remain a major driver for the global industrial air compressor market over the forecast period.
The growing oil and gas industry is also likely to be a major driver for the global industrial air compressors market over the forecast period. The oil and gas industry uses industrial air compressors in high volume due to the growing need for power in offshore and remote locations. The locations of oil and gas exploration sites are often in remote areas where conventional power sources may not be easily available. This necessitates industrial air compressors for energy generation. The growing offshore oil and gas exploration and drilling is likely to be a major driver for the global industrial air compressors market over the forecast period.
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Key Players
The key players of global industrial air compressor market are Danfoss (Denmark), Atlas Copco (Sweden), Ingersoll-Rand plc (Ireland), Howden Group Ltd. (UK), GE Oil & Gas (US), Sullair LLC (US), Gardner Denver (US), Hitachi Ltd (Japan), Elloitt Group Ltd. (US), Sulzer AG (Switzerland), Kirloskar Pneumatics Co. Ltd. (India), Kobe Steel Ltd. (Japan), and Mitsubishi Heavy Industries, Ltd. (Japan).
Market Segmentation
Industrial market for air compressors was segmented by type, seal, pressure, and end-use. The market is classified according to type into dynamic and positive displacement. Positive Displacement is expected to hold the largest share due to increased demand for compressors with high pressure output. The market is classified, based on seal, into oil-lubricated and oil-free. Among these, it is expected that the oil-free segment will dominate the market as these compressors are less expensive, light weight, and produce maximum air flow and pressure. The pressure market for industrial air compressors is divided into up to 20 bar, 20-100 bar, above 100 bar. Segment holding the largest share in the global industrial air compressor market is estimated to hold up to 20 bar. The industrial air compressor market is segmented on end-use basis into oil & gas, chemicals & petrochemicals, manufacturing and others. The oil & gas segment is projected to dominate the global industrial air compressor market due to increased investment in gas liquefaction facilities in Asia Pacific and North America.
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Regional Overview
Market by region industrial air compressor is segmented into Asia Pacific, North America , Europe , Middle East & Africa and South America. Due to the rising industrialisation and expansion of regasification and liquefaction plants in the region, Asia Pacific is expected to hold the largest share during the forecast period. China is the main country for industrial air compressors in the Asia-Pacific region, due to the expansion of the country’s re-gasification facilities. Positive displacement in Asia-Pacific is expected to dominate the market for industrial air compressor based on form segment. In the forecast period, Middle East & Africa is projected to grow at the fastest rate Because of the large number of reservoirs in the Middle East and in the area of Africa. Furthermore, the increasing demand for air compressors in various manufacturing industries is expected to drive the Middle East & Africa industrial air compressor market.
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