Selbyville, Delaware, July 05, 2021 (GLOBE NEWSWIRE) --
Global Market Insights Inc. has recently added a new report on the air compressor market which estimates the market valuation for air compressor will cross US$ 86.41 billion by 2027 owing to the rising oil & gas exploration, construction, and infrastructural development activities. The highly developing manufacturing sector will propel the demand for stationary products in Asia Pacific. Moreover, advancements in compressor technology will have a significant influence on the demand for air compressors.
Air compressors are key equipment in the manufacturing industry as they are used in different applications such as operating air tools on the production lines, monitoring production, cutting & welding operations, ejecting pieces from the mold, and effectively performing basic tasks such as screwing or turning operation. Air compressors are used in various manufacturing industries such as oil refineries, plastic manufacturing, fabrication, food & beverages, and pharmaceuticals. In the food & beverages and pharmaceutical industries, air compressors are used to ensure tight sealing and non-contaminated packaging of the final products.
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The greenhouse gas emissions from compressors are a cause for concern with several government bodies creating mandatory guidelines and ecological requisites for industrial equipment, which are the main sources for air pollution. This can be a limiting factor for the air compressor market by 2027.
The stationary air compressor market led the global industry and accounted over 95% of the total market by 2027 owing to the extensive usage of compressed air in almost all manufacturing activities. Centrifugal compressors are extensively used in industrial applications needing high-capacity, large discharge rates, and continuous operations. Air compressors used in the oil & gas industry are designed to provide a steady flow of compressed air for longer periods of time and can take fluctuating surges. It is likely to grow at a CAGR of around 2.5% by 2027. A widespread automotive production in Europe, notably in Germany, will bolster the air compressor consumption for manufacturing applications. It has recorded over20% of the overall market by 2020.
The key producers present in the air compressor market are Ingersoll-Rand, Atlas Copco, Sullair, Kaeser Kompressoren, Bauer Compressors, Bitzer, Daikin, Emerson Tecumseh, Doosan Portable Power, GMCC, and Embraco.
Some of the major findings in the air compressor market report include:
- Stationary air compressors are used in a wide range of applications including refrigeration & air conditioning systems, automobiles, and for industrial usage.
- Technological advancements related to centrifugal compressors along with their several advantages over the other two segments will propel their demand.
- Oil-filled compressors are bulky in nature and highly durable due to efficient lubrication.
- Air compressors provide compressed air, which is widely used in operating air tools on production lines, cutting & welding equipment, monitoring equipment, and metal finishing.
- Growth in the manufacturing sector in the Eastern European countries will have a significant impact on the regional air compressors market by 2027.
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Partial chapters of report table of contents (TOC):
Chapter 3 Air Compressor Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2017 - 2027
3.2.1 Covid-19 impact on industry landscape
3.3 Industry ecosystem analysis
3.3.1 Distributor channel analysis
3.3.2 Vendor matrix
3.3.3 Value chain disruption analysis (COVID-19 impact)
3.4 Regulatory trends
3.4.1 U.S.
3.4.2 Europe
3.4.3 China
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.1.1 Proliferating growth in the household appliances market
3.5.1.2 Surging automobile production
3.5.1.3 Rapid industrial growth in Asia Pacific
3.5.1.4 Technological advancements in air compressors
3.5.1.5 Mature manufacturing industry in the U.S.
3.5.2 Industry pitfalls & challenges
3.5.2.1 Stringent regulations for utilization of air compressors
3.5.2.2 Growing popularity of rental services
3.6 Impact of COVID-19 on air compressor supply chain and production
3.7 Refrigerated warehouse capacity and market development index, by country
3.8 Production process
3.9 Comparison of different equipment
3.10 Technology landscape
3.11 Pricing analysis
3.11.1 Pricing strategy of key players
3.11.2 Cost structure analysis
3.12 Innovation & sustainability
3.12.1 Patent analysis
3.12.2 Future trends
3.13 Growth potential analysis
3.14 Porter’s analysis
3.15 Competitive landscape, 2020
3.15.1 Company market share analysis, 2020
3.15.2 Strategy dashboard
3.15.3 Service and sales network status of key players
3.16 PESTEL analysis
3.17 COVID-19 impact on air compressor demand, by application
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.