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Air Compressor Market Competitors:Various international and regional players have taken over the market and are implementing new technologies to stay ahead of each other. However, major strategists are mostly focusing on mergers and acquisitions for market expansion. Recently, Ohio Transmission Corporation has acquired Louisiana compressed air company which can be taken as exemplary.
Several companies are now influencing the Air Compressor Market . The significant ones are Sullair, L.L.C. (U.S.), Atlas Copco AB (Sweden), Doosan Portable Power (U.S.), Gardner Denver (U.S.), Ingersoll Rand (U.S.), Rolair Systems. (U.S.), Kaeser Compressors SE (Germany), and others.
Air Compressor Global Market Overview:
The global air compressor market can be expected to enjoy an incredible CAGR of 7.5% during the review period (2017-2023), reports Market Research Future (MRFR). Air compressors have a wide-range of applications in both industrial and non-industrial verticals. Recent developments in the industry has helped in expanding the base by filtering spectrums in a more precise and definitive manner and attain the desired market results.
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Industry Trend:
The market is now flooded with air compressors that are energy-efficient, centrifugal, and oil-free. Air Technologies have recently launched a new compressor that uses DirectAIR technology and conserves more kilowatt-hours (kWh).
SCR Air has introduced a compressor machine that uses a permanent magnet. These machines have low rotational speed which means it would generate the same airflow with device a size smaller. Also, the machines produce merely 67 decibels (dB) of sound and cut down the running cost.
Air Compressor Market Regional Analysis:-
The global air compressor market is expected to witness phenomenal growth during the forecast period. This is due to the considerable growth in utilization of air compressors in numerous end-use applications across major industries. The growth is, primarily, attributed to the growing necessity of compression of air & gas, which is likely to continue during the forecast years. The Asia Pacific region accounted for the largest share of the air compressor market in 2016, wherein China, India, Japan and other prominent emerging economies countries contributed major share. However, Europe is likely to emerge as one of the prominent markets for this technology due to the deployment of advanced air compressor in the newly built home appliances.
Segmentation:
The air compressor market can be segmented by product, technology, lubrication, and end-user.
Product-wise segmentation comprises portable and stationary. The stationary type segment is expected to dominate the market as it is experiencing a growing demand from various industries and non-industrial sectors. Home appliances, automotive, and manufacturing sectors are capable of playing a pivotal role in the market growth.
Based on technology the market is segmented into rotary, reciprocating, and centrifugal. Rotary is estimated to dominate the market as it incurs low maintenance cost and is highly efficient. Centrifugal can also fetch in heavy demand in the coming years.
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Lubrication-based segmentation includes oil free and oil filled. Rising awareness regarding various contamination is anticipated to trigger the sale of oil-free air compressors.
On the basis of end-user, the market can be segmented into home appliances, food & beverage industry, oil & gas industry, energy industry, semiconductors & electronics industry, manufacturing industry and the healthcare industry. Rapid urbanization has secured the market for home appliances where the air compressors can find utility in luxury items such as air conditioners, refrigerators, and others.
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