Covina, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Prophecy Market Insights has published a new research report titled “Oil Filled Air Compressor Market accounted for US$ 23.4 Billion in 2022 and is estimated to be US$ 33.0 Billion by 2030 and is anticipated to register a CAGR of 3.5%.”
What is Oil Filled Air Compressor? How big is Oil Filled Air Compressor Market Size and Share?
Overview:
Air Compressor is a machine which presses air into smaller space and converts power into kinetic energy and thus, used for various applications such as inflating tires, powering tools and operating pneumatic equipment.
Technological advancement has contributed in target market growth. Presence of major players and new launched product is likely to propel market growth. They are widely used in various types of industries such as pneumatic tools, spray painting, and other industrial applications. Growing demand for cost-effective and energy-efficient air compressors is expected to boost the demand for Oil Filled Air Compressor Market growth over the forecast period.
Request a Sample Copy of Air Compressor Market Research Report:
https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/3585
(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)
Our Sample Report Includes:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Request.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
- Includes Updated List of table & figures.
Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Some of the Top Market Leaders Are:
- Atlas Copco AB
- Doosan Portable Power
- Sullivan-Palatek, Inc.
- Ingersoll-Rand plc.
- Sullair LLC
- Quincy Compressor LLC
- Kaeser Kompressoren SE
- Gardner Denver, Inc.
Recent Key Highlights of Air Compressor Market:
- In February 2022, ELGi North America launched new ‘GP35FP’ portable compressor at CONEXPO-CON/AGG 2023, at Las Vegas Convention Center. The new launched product has strengthen the ELGi’s position in market.
Report Scope:
| Attribute | Details |
| Base year for estimation | 2022 |
| Forecast period | 2022 – 2032 |
| Market representation | Revenue in USD Million & CAGR from 2022 – 2032 |
| Market Segmentation | By Type - Rotary, Reciprocating, and Centrifugal By Application - Home Appliances, Mining & Quarrying, Energy, Manufacturing, and Others |
| Regional scope | North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
Analyst View:
Growing adoption of oil-filled air compressors in emerging economies coupled with rapidly growing industrialization has become a leading factor in target market growth. Further, rising demand for portable air compressors in various industries such as construction and automotive is anticipated to increase the demand for Oil Filled Air Compressor market growth.
Explore the comprehensive report description, detailed research methodology, comprehensive table of contents, and informative infographics by visiting Our PDF Brochure:
https://www.prophecymarketinsights.com/market_insight/Insight/request-pdf/3585
Insights and Analysis:
Market Drivers:
- Industrial Growth: Increasing global industrialization drives demand for air compressors in machinery, boosting market growth.
- Construction & Automotive: Construction projects and automotive applications fuel demand for air compressors, particularly in pneumatic tools.
- Oil & Gas Sector: Exploration activities necessitate reliable compressors, creating demand in the oil & gas industry.
Market Challenges:
- Initial Investment: High-quality compressors pose budget challenges for smaller enterprises, impacting adoption.
- Maintenance Costs: Regular maintenance is vital, but high costs affect overall profitability for businesses.
- Competition & Compliance: Intense market competition emphasizes innovation, quality, and adherence to stringent environmental regulations, influencing production costs.
Market Trends:
- Smart Tech Integration: IoT-enabled compressors offer real-time tracking and predictive maintenance, gaining popularity.
- Oil-Free Compressors: Demand rises, especially in food & healthcare industries, ensuring clean, and high-quality compressed air.
- Portable Models: Growing preference for lightweight, portable compressors, especially in small-scale industries and DIY applications.
- Energy Efficiency Focus: Variable speed drives and advanced control systems optimize energy use, reducing operational costs.
- Green Initiatives: Eco-friendly compressors, using sustainable materials and energy-efficient tech, align with global efforts to reduce carbon emissions.
Conclusion:
The air compressor market is witnessing steady growth driven by industrialization, infrastructure development, and technological advancements. Companies need to balance innovation, quality, and environmental sustainability to stay competitive in this dynamic market. As industries continue to expand, the demand for efficient, reliable, and environmentally conscious air compressors is expected to rise, presenting opportunities for market players to thrive.
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Explore Further Insights: Dive into Complementary Reports:
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