Portland, OR, Feb. 26, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global air compressor market was estimated at $18.22 billion in 2014 and is expected to hit at $26.85 billion by 2023, registering a CAGR of 4.47% from 2017 to 2023. The report provides a detailed analysis of the market size & estimations, top investment pockets, top winning strategies, drivers & opportunities, competitive scenario, and wavering market trends.
The availability of energy-efficient compressors, multiple fuel options, and variation in pressure supplied fuel the growth of the global air compressor market. On the other hand, the rise in air pollution and noise pollution curtail down the growth to a certain extent. Nevertheless, upcoming technologies are expected to create an array of opportunities in the industry.
The stationary segment to lead the trail by 2020-
Based on type, the stationary segment contributed to nearly three-fifths of the total market revenue in 2014 and is expected to dominate throughout 2017–2023. The same segment is also projected to grow at the fastest CAGR of 4.7% during the forecast period.
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The rotary segment to retain its dominance in terms of revenue-
Based on technology, the rotary segment accounted for nearly half of the total market share in 2014 and is anticipated to maintain its top status by the end of 2023. At the same time, the centrifugal segment would showcase the fastest CAGR of 4.9% throughout the study period.
Asia-Pacific garnered the highest share in 2014-
Based on geography, the Asia-Pacific region held the major share in 2014, garnering nearly two-fifths of the total market. Simultaneously, the LAMEA region would cite the fastest CAGR of 5.3% during the estimated period.
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Leading market players-
The key market players analyzed in the global air compressor market include Kobe Steel Ltd., Elgi Equipments Limited, VMAC Global Technology Inc., Mitsubishi Heavy Industries Ltd.,Ingersoll-Rand PLC, Porter Cable, Kirloskar Pneumatic Company Limited, Atlas Copco AB, Suzler Ltd., and Ebara Corporations. They have incorporated a number of strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.