New York, USA, Nov. 02, 2021 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global air compressor market is expected to generate a revenue of $39,844.6 million by 2026, growing exponentially at a CAGR of 3.4% during the forecast period 2019-2026. The comprehensive report provides a brief overview of the current scenario of the market, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the forecast period. The report also offers the market figures, which makes it easier and more beneficial for the new participants to understand the real-time scenario of the market.
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Factors Influencing Market Size Pre and Post COVID-19 Outbreak
According to the report, the real-time air compressor market size has significantly decreased compared to the pre-COVID-19 estimations. The real-time market size reached a revenue of $21,301.8 million in 2020, while its estimations were $32,772.1 million during the pre-COVID scenario. The prevalence of lockdowns in various countries across the globe in order to curb the spread of the virus transmission drastically affected the global market. There was a massive decline in the in business and industrial operational processes. In addition, stringent government restriction on the decibel levels is further expected to impede the growth of the global air compressor market.
Factors Affecting the CAGR Figures Pre and Post COVID-19 Outbreak
The report reveals the real-time air compressor market CAGR registered during the pandemic. According to the report, the market is predicted to grow at a CAGR of 3.4% during the forecast period, while it was anticipated to be 3.8% in the pre-COVID-19 scenario from 2019 to 2026. The stoppage of all construction and renovation activities across the globe during lockdowns adversely impacted the market. In addition, closure of the manufacturing sector created immense disruptions in the supply chain and distribution. Moreover, government regulations on rising greenhouse gases are further expected to hamper the growth of the global air compressor market.
Connect with Analyst to Reveal How COVID-19 Impacting On Market: https://www.researchdive.com/connect-to-analyst/215
Post Pandemic Insight
As per the report, the global air compressor market is expected to recover by 1st/ 2nd quarter of 2023. However, rigorous emphasis on R&D and technological innovation along with the rising number of strategic alliances is further expected to drive the growth of the market. In addition, surging demand for innovative, highly advanced air compressors from various industries like energy, home appliances, healthcare, and many more are further expected to accelerate the growth of the market in the post-pandemic era.
Key Players of the Market
The major players of the air compressor market include -
- Oasis Manufacturing
- Atlas Copco
- Kobe Steel
- Siemens
- Sullair
- Best Aire LLC
- Elgi Equipments
- Frank Technologies
- Bel Aire Compressors
- Airtex Compressors
- Ingersoll Rand
- Frank Technologies
- VMAC Company
- Bauer Group
- Grainger Company
These market players are concentrating on developing strategies such as new product launches, research and development, following trending market ideas, building product portfolio, mergers & acquisitions, collaborations, and business expansions. Inquire and Get Quick Access to Top Companies Development Strategies Summary Report
For instance, in May 2021, Atlas Copco, a world-leading provider of sustainable productivity solutions, acquired MidState Air Compressor, a US distributor of compressors and provider of service, in order to strengthen their market presence in the US air compressor market.
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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