Pune, India, May 02, 2022 (GLOBE NEWSWIRE) --
As per a recent industry report put forward by Graphical Research, the North America air compressor market is forecast to register its name in the billion-dollar fraternity down the line of seven years, by exceeding a revenue of USD 35 billion by 2026.
North America air compressor industry share is expanding across the automotive and healthcare sector at a significant pace. Installations of air compressors in the food & beverage, home appliances, oil & gas, manufacturing, mining & construction, commercial, transportation, and energy sectors are increasing every year.
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Take a glance at the three major factors impacting the industry forecast:
Role of air compressors in healthcare
The healthcare industry, which comprises of medical and pharmaceutical companies, is one of the fastest-growing segments in North America air compressor industry. This growth can be attributed to the increased patient load and ventilation needs amidst the ongoing COVID-19 pandemic time. Standard operations in the healthcare system necessitate medical grade air supply for ventilators and surgical procedures, air filtration and decontamination, cleaning and disinfection of facilities and equipment. All of these systems are powered by high quality, oil free air compressors.
High demand from the U.S.
Portable air compressors are projected to be in great demand in the United States for home workshops, painting, and a variety of other household activities. Rising shale gas exploration operations in the country will drive regional air compressor usage in the coming years. The robust automotive sector in the region, as well as the strong need for heavy-duty trailers with high-quality air brakes, will boost North American air compressor market forecast through 2026.
Growing uptake of stationary air compressors
In 2019, the stationary air compressor market share was valued at more than USD 25 billion in North America. Stationary compressors are preferred choice as they can provide more air at higher pressures than portable ones. Similarly, rotary compressors are expected to be the fastest growing segment in the foreseeable future. Rotary screw machinery guarantees that products in the food, beverage, and pharmaceutical industries are clean, contaminant-free, and firmly sealed.
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Product development, acquisitions and collaborations are among the leading strategies adopted by compressor manufacturers to expand their reach. For instance, In May 2021, Atlas Copco purchased the operational assets of MidState Air Compressor, a U.S. based compressor distributor and service provider. This purchase enables the firm to concentrate on developing its business, strengthening its market position in the region. The company also acquired UK-based Airflow Compressors & Pneumatics in June 2021. Because of Airflow's excellent market reputation, the company will be able to expand their product portfolio and develop their business further in the industrial centers of Liverpool and Manchester as a result of this purchase.
Gardner Denver Inc., Atlas Copco, Kaeser Compressors, Emerson Electric Co., Sullair, Elgi Equipments Ltd., Ingersoll-Rand plc, and Sullivan-Palatek Inc are some leading air compressor manufacturers in North America. Regional presence of key manufacturers and maintenance company is quite strong.
Browse Related Report:
Europe Air Compressor Market Size, By Product (Portable, Stationary), By Technology (Rotary [Screw, Scroll], Reciprocating, Centrifugal), By Lubrication (Oil-free, Oil-filled), By Application (Home Appliances, Food & Beverage, Oil & Gas, Energy, Commercial, Manufacturing, Healthcare [Medical, Dental]), Mining & Construction, Transportation), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026
https://www.graphicalresearch.com/industry-insights/1419/europe-air-compressor-market
Asia Pacific Portable Air Compressor Market Size By Technology (Rotary, Reciprocating), By Application (Building & Construction, Food & Beverage, Oil & Gas, Energy, Semiconductor & Electronics, Manufacturing, Healthcare [Medical, Dental], Mining & Construction, Municipal), By Lubrication (Oil Free, Oil Filled), Industry Analysis Report, Regional Outlook (China, India, Japan, Australia, Indonesia, Malaysia), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2024
https://www.graphicalresearch.com/industry-insights/1239/asia-pacific-portable-air-compressor-market
About Graphical Research:
Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
