Global Industrial Air Compressor Market
An air compressor uses an electric motor, diesel or gasoline engine and others into potential energy which has to be stored as pressurized air. Market Research Future (MRFR) has published a research report about the Industrial Air Compressor Market that determines advancement for this market at 5.63% CAGR between 2016 and 2023.
The major factors driving the global industrial air compressor market growth include energy efficiency and easy maintenance. Other factors contributing to the market growth include rising demand for energy efficient compressors, rising industrialization, rising energy consumption, and global expansion of liquefaction facilities. However, factors such as strict government regulations regarding emission of greenhouse gases and noise pollution can restrain the market growth.
Global Industrial Air Compressor Market Segmentation:
The global industrial air compressor market has been segmented on the basis of end-use, pressure, seal, type, and lastly, region. Based on end-user, this market has been segmented into chemicals & petrochemicals, oil & gas, manufacturing, and others. The oil & gas segment is likely to dominate the global market during the forecast period due to rising investments for construction of gas liquefaction plants in the Asia Pacific region and North America.
The pressure-based segmentation segments this market into up to 20 bar, 20-100 bar, above 100 bar. During the forecast period, up to 20 bar segment is likely to hold the largest market share. On the basis of the seal, the market has been segmented into oil-lubricated and oil-free. During the forecast period, the oil-free segment is expected to dominate the market as these compressors are less expensive, lightweight, and produce maximum airflow and pressure.
By type, the global industrial air compressor market has been segmented into dynamic displacement and positive displacement. During the forecast period, the positive displacement is estimated to hold the largest share due to the rising demand for high output pressure compressors.
Global Industrial Air Compressor Regional Market Analysis
The regional segmentation of the global industrial air compressor market segments the market into the regional markets known as North America, South America, Asia Pacific, Europe, and the Middle East & Africa (MEA). During the forecast period, the Asia Pacific region is expected to hold the largest share due to the expansion of regasification plants as well as liquefaction plants, along with the rising industrialization in this region. In this region, positive displacement is expected to dominate the market. Important country-specific markets in the Asia Pacific region are Australia, China, India, and Japan, followed by the remaining countries of the Asia Pacific region.
The MEA region has been anticipated to emerge as the fastest growing market during the forecast period due to the presence of many reservoirs in this region. Another factor contributing to the market growth in this region is the rising demand for air compressors in various manufacturing industries. The critical country-specific markets in this region are Saudi Arabia, South Africa, and the UAE, followed by the remaining countries of the MEA region.
In North America and Europe, the market is significant due to the presence of gasification plants, liquefaction plants, technological advancement, established industries, and the presence of many key market players. In North America, the most important country-specific markets are USA, Canada, and Mexico. In Europe, such markets are France, Germany, Russia, and the UK, followed by the remaining countries of Europe.
Compared to North America, the market in South America is smaller because the purchasing power of people is low. The two most important country-specific markets in this region are Argentina and Brazil, followed by the remaining countries of South America.
Key Players
The key players in the global industrial air compressor industrial air compressor market include Atlas Copco (Sweden), Danfoss (Denmark), Elliott Group Ltd. (USA), Gardner Denver (USA), GE Oil & Gas (USA), Hitachi Ltd (Japan), Howden Group Ltd. (UK), Ingersoll-Rand PLC (Ireland), Kirloskar Pneumatics Co. Ltd. (India), Kobe Steel Ltd. (Japan), Mitsubishi Heavy Industries, Ltd. (Japan), Sullair LLC (USA), and Sulzer AG (Switzerland).
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