Industrial Air Compressor Market Current Scenario and Industry Growth Forecast with Major Key Players data by 2032
Increasing investments in mechanical equipment will pave the way for the expansion of the industrial air compressor market in the coming years. As per a Future Market Insights (FMI) analysis, the industrial air compressor market is projected to be valued at ~US$ 26.7 Bn in 2021.
The ongoing crisis caused by the COVID-19 pandemic has
caused a severe impact on the global economy. It has resulted in complete
shutdown of the supply chain networks and manufacturing activities. This has
subsequently affected the industrial air compressor market, causing a
significant drop in the growth. However, the industrial air compressor market
is expected to recover as the economic activity resumes following the
containment of the pandemic.
Manufacturers of industrial air compressors are focusing on
the development of digitally controlled systems such as compression solutions
with automation and digitalization. This in turn is expected to create positive
growth prospects for the growth in demand for industrial air compressors.
Also, the consistently rising demand from the oil and gas
sector will remain a key growth driver. According to the report, both oil &
gas and automotive & transportation industries will account for maximum
sales in the market through the forecast period. Expansion of these industries
will therefore present attractive opportunities for growth in the near future.
To know more@
https://www.futuremarketinsights.com/reports/industrial-air-compressor-market
Key Takeaways from the Industrial Air Compressor Market
Study
- Industrial
air compressor market will register a CAGR of ~4.6% over the forecast
period of 2021-2031
- Expansion
of oil exploration activities have placed the U.S. as a chief market,
which accounts for over 70% sales within North America
- Improving
production in the automotive sector will fuel demand in the U.K., enabling
above 6% y-o-y growth in 2021 in terms of value
- Application
across diverse sectors will drive growth in industrial air compressor
market in Germany and France
- Rising
demand for power generation will push growth in Japan and China
“The main catalyst behind the growing popularity of air
compressors is the innovation that goes into newer models in the market. In
economic downturns, sales of air compressors are less likely to witness
significant gains in some of the world’s more developed markets. Nonetheless,
the technology will always have thriving markets as long as there are
developing countries are eager to compete with the industrialized world.” says
a Future Market Insights analyst.
The industrial air compressor market is expected to be a
high-opportunity market in the forecast period owing to increasing demand from
various manufacturing and production industries as well as investments in oil
& gas and power generation sectors, which are expected to drive the demand through
the forecast period. Moreover, manufacturers are emphasizing on developing
digitalized and customized products as per customer demands along with improved
technology, life cycle, higher efficiency and less maintenance cost. These
factors are expected to positively influence growth in demand for Industrial
air compressors during the forecast period.
Competitive Landscape
The industrial air compressor market is highly consolidated,
in which the leading players account for more than three fourths of the market
share. The penetration of small regional players makes this market more
competitive. Some of the key players in the market are Atlas Copco, Baker
Hughes, Anest Iwata Corporation, General Electric, Hitachi Industrial Equipment
Systems Co., Ingersoll Rand, Burckhardt, MAN SE, Siemens Energy AG, Ariel
Corp., and Bauer Kompressoren GmbH, among others. These players have higher
shares in the global market, and have longstanding relationships with a number
of end users, giving them an upper hand over their peers.
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Industrial Air Compressor Market by Category
By Technology
- Rotary
- Reciprocating
- Centrifugal
- Axial
By Capacity
- Upto
500 HP
- 500 –
2000 HP
- 2000 –
5000 HP
- 5000 –
12000 HP
- 12000
– 20000 HP
- Above
20000 HP
By Compression Stage
- Single
Stage
- Double
Stage
- Multistage
By Driver Type
- Electric
- Natural
Gas
- Fuel
Driven
By End Use
- Automotive
and Transportation
- Oil
and Gas
- Power
Generation
- Chemicals
- Food
and Beverages
- Pharmaceuticals
- Mining
and Metals
- Industrial
Air Separation
- Other
manufacturing
Region
- North
America
- Latin
America
- Europe
- East
Asia
- South
Asia & Pacific
- Middle
East and Africa (MEA)
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