New York, USA, July 11, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global air compressor market is anticipated to generate a revenue of $41,126.7 million over the estimated timeframe from 2019 to 2026.
As per our analysts, with the rapid growth in environment-friendly compressor technologies along with the increasing acceptance of portable models, the air compressor market is predicted to experience alarming growth during the analysis period. Moreover, the increasing demand for air compressors from the F&B and oil & petroleum markets is expected to create extensive growth opportunities for the market during the forecast period. However, the stringent government regulations regarding the noise levels and greenhouse gases from the air compressors may hinder the growth of the market throughout the estimated period.
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Segments of the Air Compressor Market
The report has divided the growth of the market into various segments based on product type, technology, lubrication, application, and region.
Product Type: Portable Sub-Segment to be Most Profitable
The portable air compressor sub-segment is projected to generate a revenue of $11,916.6 million over the estimated period. The increased usage of portable air compressors by construction and mining industries is expected to bolster the growth of the market sub-segment during the forecast timeframe.
Technology: Rotary Sub-Segment to be Most Productive
The rotary air compressor sub-segment is predicted to generate a revenue of $17,575.1 million during the analysis timeframe. This is mainly because the rotary air compressors are widely used in heavy industrial and manufacturing applications. Moreover, the increasing demand for a rotary compressor for its better efficiency, power, and reduced noise is expected to uplift the growth of the market sub-segment over the estimated period.
Lubrication: Oil-Free Sub-Segment to be Most Lucrative
The oil-free air compressor sub-segment is predicted to garner a revenue of $28,293.3 million during the forecast timeframe. This is mainly due to the increasing use of oil-free air compressors in heavy work activities, such as oil extraction, drilling, and mining. In addition, the increasing demand for oil-free compressors used in the F&B industries and healthcare sectors to avoid the contamination of the products is predicted to magnify the growth of the air compressor market sub-segment during the analysis period.
Application: Home Appliances Sub-Segment to be Most Beneficial
The home appliances sub-segment is predicted to generate a revenue of $1,322.1 million over the estimated timeframe. The increasing demand for air compressors from the home appliances industry due to their high efficiency, low noise, and higher accuracy is expected to fuel the growth of the market sub-segment during the forecast timeframe.
Region: Asia-Pacific Region to Have Expansive Growth Opportunities
The Asia-Pacific region of the air compressor market is projected to garner a revenue of $16,127.4 million during the analysis period. This is mainly due to the growing manufacturing facilities and infrastructure spending in the developing countries of this region. Moreover, the increasing availability of labor and raw materials, the rising awareness of eco-friendly products, and changing regulatory scenario across the nations of this region is predicted to drive the regional growth of the market over the forecast timeframe.
Key Players of the Air Compressor Market
The major players of the air compressor market include
- Grainger Company
- Frank Technologies
- Bel Aire Compressors
- Kobe Steel
- Bauer Group
- Siemens
- VMAC Company
- Ingersoll-Rand
- Airtex Compressors
- Elgi Equipments
- Ingersoll Rand
- Oasis Manufacturing
- Sullair
- Atlas Copco
- Best Aire LLC and many more.
These players are continuously working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to acquire a leading position in the global industry. – Inquire Here before buying Full Report
For instance, in May 2022, Elgi Equipments launched electric, diesel portable air compressors at EXCON 2022. The electric-powered and diesel-powered portable air compressors have been named “PG 110E -13.5” and “PG 575 – 225” respectively. These air compressors are powered by IE3 motors integrated with η-V profile air ends which are designed mainly for drilling operations.
Further, the report also summarizes other vital aspects including product portfolio, SWOT analysis, the financial performance of the key players, and the latest strategic development.
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