New York, USA, July 06, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global air compressor market is projected to register a revenue of $41,126.7 million during the forecast period (2019-2026), increasing from $30,517.2 million in 2018. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
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Dynamics of the Market
Drivers: The main factors attributing to the growth of the global air compressor market include innovation of eco- friendly compressor technologies, retrofitting of existing systems, low maintenance, proficient operation at lesser costs, oil-free lubrication processes, rising implementation of variable-speed systems, and growing popularity of the portable models.
Restraint: The major factor hindering the growth of the market is the greenhouse gases emitted by the air compressors.
Opportunity: The rising demand by F&B and oil & petroleum markets has initiated many opportunities for the market in recent years.
Segments of the Market
The report has divided the market into different segments based on product, technology, lubrication, application, and regional analysis.
Product: Portable Sub-Segment Expected to be the Most Lucrative
Portable sub-segment is expected to generate the highest revenue of $11,916.6 million during the analysis period, increasing from $9,119.9 million in 2018. The main reason behind this growth is the increasing demand by the end-users such as oil & gas, and construction and mining industries.
Technology: Rotary Sub-Segment Predicted to be the Most Profitable
Rotary sub-segment is predicted to generate the highest revenue of $17,575.1million during the forecast period, surging from $12,841.9 million in 2018. Mostly used in heavy industrial and manufacturing applications, rotary compressors will generate maximum market share because of its beneficial properties such as efficiency, power, and ability to reduce noise.
Lubrication: Oil-Free Sub-Segment Expected to be the Most Beneficial
Oil free sub-segment accounted for $21,320.9 million in 2018, and is further estimated to surpass a revenue of $28,293.3 million by the end of 2026. The main attributor of this growth is forecasted to be the application of oil-free air compressor in heavy-work activities such as mining, oil extraction, and drilling.
Application: Home Sub-Segment Expected to Earn the Maximum Revenue
Home appliances sub-segment is anticipated to generate the highest revenue of $1,322.1million during the forecast period. The reason behind this growth is the high efficiency, accuracy, and low noise.
Regional Analysis: Asia-Pacific to Dominate the Market
Asia-Pacific regional market is expected to dominate the market by generating a revenue of $16,127.4 million during the forecast period. Growing urbanization in the regional countries has resulted in construction and mining activities. This is the reason enhancing the growth of the regional market.
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Key Players of the Market
The most significant players global air compressors market players include -
- Oasis Manufacturing
- Atlas Copco
- Ingersoll-Rand
- Siemens
- Kobe Steel
- Elgi Equipments
- Grainger Company
- Frank Technologies
- Bauer Group
- Bel Aire Compressors
- Airtex Compressors
- VMAC Company
- Ingersoll Rand
- Best Aire LLC
- Sullair
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
In March 2021, Fralock Holdings, LLC, a leading developer and manufacturer of engineered advanced materials solutions for critical applications, completed the acquisition of Oasis Materials, a global leader in rapid temperature transition applications used in medical, semiconductor, defense, aerospace, and other applications.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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