Selbyville, Delaware, May 22, 2018 (GLOBE NEWSWIRE) --
Stationary Air Compressor Market is forecast to exceed USD 30 billion by 2024; according to a new research report by Global Market Insights, Inc. Stationary air compressor industry will be driven by increasing automotive production in Asian countries. They are incorporated in automotive air conditioners and are used in almost all manufacturing activities around the globe. The advancements & developments in the North American mining and oil & gas sector will be another driving factor for stationary air compressor market growth. They are used to operate pneumatic equipment, oil extraction, refining, pipeline transportation, etc. Moreover, substantial growth in house hold appliances industry in Asian region due to the positive GDP growth rates, industrial development and upsurge in personal income level will positively spur the product demand. This is all due to the extensive usage of the product in air conditioners, refrigerators and other home appliances.
Adoption of portable air compressors by oil & gas and other manufacturing industries is the key restraining factor for stationary air compressor market growth in future. The portable product is comparatively cheaper than the stationary one and provides ease of handling and high power & capacity, which will negatively affect the entire industry by 2024.
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The global air compressor market is segmented on the basis of technology, lubrication, and application. Based on technology, the market is categorized as rotary, reciprocating, and centrifugal. In terms of revenue, centrifugal technology based stationary air compressor will generate over USD 12 billion in coming year owing to its high capacity, large discharge rates, continuous operation and other mechanical features.
Based on lubrication, the industry is segmented as oil free and oil filled air compressors. Oil free products will generate revenue more than USD 9 billion by 2024 owing to its high usage in healthcare sector. The product offers contaminant free compressed air and employed in diagnostic tools such as blood-analyzers, endoscopy equipment, mammography X-ray, and related tools.
Browse key industry insights spread across 350 pages with 432 market data tables & 27 figures & charts from the report, “Stationary Air Compressor Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/stationary-air-compressor-market
Based on application, the stationary air compressor market is segmented into eight sectors including home appliances, food & beverage, oil & gas, energy, semiconductor & electronics, manufacturing, healthcare, and other applications such as mining, construction, agriculture, water treatment, entertainment, etc. The manufacturing application segment includes automotive, aerospace, glass, wood products, and other general manufacturing practices. The healthcare application segment includes medical, dental, and other healthcare applications such as diagnostics, laboratory, etc. Among these, manufacturing application segment will generate revenue of around USD 8.5 billion in 2024 due to the extensive usage of the compressed air for operating & monitoring equipments, tools, etc.
Asia Pacific is the dominant region in the entire segment and will capture over 60% of the global stationary air compressor market. High growth in manufacturing activities, significant production of automotive parts in China coupled with upsurge in household appliance industry are the key driving factors for regional stationary air compressor market growth in coming years.
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The key stationary air compressor market players are Atlas Copco, Hubei Teweite Power Technology Company Limited, Sullair, Zen Air Tech, Kaeser Kompressoren, Saylor-Beall Manufacturing Company, and Ingersoll-Rand.
Browse Related Reports:
Reciprocating Air Compressor Market Forecast, 2017 – 2024
Rotary Scroll Air Compressor Market size was estimated over USD 1.5 billion in 2016 and the industry will grow by a CAGR more than 2.5% up to 2024. North America is also an important market accounting for over 12% of the total share. This region is likely to witness the significant growth owing to government regulations and incentives which promote the usage of energy efficient equipment.
https://www.gminsights.com/industry-analysis/reciprocating-air-compressor-market
Air Compressor Market Growth Report, 2017 – 2024
Air Compressor Market Size was valued over USD 35 billion in 2016 and the industry will grow by a CAGR of more than 3% up to 2024. Asia Pacific held a major share of around 50% in 2016 and is set to grow at an exceptional rate in the coming years. Increasing manufacturing activities coupled with the rise in home appliances demand will further surge the air compressor market to new heights.
https://www.gminsights.com/industry-analysis/air-compressor-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.