Selbyville, Delaware, Feb. 09, 2022 (GLOBE NEWSWIRE) --
The North America air compressor market is expected to surpass USD 30 billion by 2027,as reported in a research study by Global Market Insights Inc. Rising production of automobiles and home appliances in the U.S. and Canada will drive the regional industry revenue.
Centrifugal air compressors is anticipated to witness a CAGR of over 1.2% through 2027. These compressors are extensively used in industrial applications that need high capacity, large discharge rates, and continuous operation. Owing to their larger size & capacity, centrifugal compressors tend to be more expensive than other types. The segment growth will be propelled by the increasing number of thermal power plants around North America as the product is extensively used to supply compressed air in gas turbines.
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Oil-filled air compressors accounted for around 63% of the market share in 2020 and are expected to maintain a dominating position till 2027. Moreover, the proliferating U.S. manufacturing sector will have a significant impact on the regional market due to its rough applications and low cost compared to oil-free types.
The commercial segment from North America air compressor market will generate about USD 4.5 billion revenue by 2027. The sector extensively uses air compressors in manufacturing & servicing applications for various purposes such as conveying components pneumatically, operating sensitive valves, and printed circuit cleaning after production or during servicing. Increasing electronic equipment manufacturing in the region will drive the demand for compressors used in commercial applications during the forecast period.
Furthermore, Canada is also expected to generate considerable demand for air compressors during 2021 to 2027. Significant developments in manufacturing capabilities, accelerating healthcare spending, and growing consumption of packaged foods in the country will foster North America air compressor market growth. Additionally, increasing oil & gas exploration activities in this region coupled with huge manufacturing industries will propel industry growth.
Some major findings of North America air compressor market report include:
- Stationary air compressors will dominate the market demand owing to large-scale product applications.
- Growing adoption of rotary air compressors due to various advantages will fuel segment growth.
- Oil-filled compressors will witness significant demand owing to their ability to deliver high power and perform heavy-duty applications.
- Commercial manufacturing and servicing applications will augment product consumption in the commercial application sector.
- Some of the prominent North America air compressor industry players include, Atlas Copco, Sullair, LLC, Gardner Denver, Inc., Kaeser Kompressoren, Ingersoll-Rand Plc, Rolair Systems, Elgi Compressor USA Inc., Hitachi Industrial Equipment Systems Co., Ltd., Ciasons Industrial, Inc., Aerzener Maschinenfabrik GmbH (Aerzen), Quincy Compressor, Bauer Compressors, Inc., Emerson Climate Technologies, Inc., and Sullivan-Palatek, Inc.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 North America air compressor industry 360° synopsis, 2017 - 2027
2.1.1 Business trends
2.1.2 Product trends
2.1.3 Technology trends
2.1.4 Lubrication trends
2.1.5 Application trends
2.1.6 Country Trends
Chapter 3 North America Air Compressor Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2017 - 2027
3.3 Industry ecosystem analysis
3.4 Industry impact forces
3.4.1 Growth drivers
3.4.2 Industry pitfalls & challenges
3.5 Growth potential analysis
3.6 Regulatory trends
3.7 Regional price trends
3.8 Impact of COVID-19 on air compressor Industry
3.8.1 COVID 19 impact on industry landscape
3.9 Porter’s analysis
3.10 Competitive landscape, 2020
3.11 PESTEL analysis
3.12 Cost structure analysis
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.
