Centrifugal Air Compressor Market Growth Opportunities, Demand and Top Companies Analysis till 2024
Category: #business  By Rahul Varpe  Date: 2020-03-27
  • share
  • Twitter
  • Facebook
  • LinkedIn
Centrifugal Air Compressor Market Growth Opportunities, Demand and Top Companies Analysis till 2024

In 2016, the global centrifugal air compressor market for food & beverage applications contributed over USD 840 million to the revenue. Increasing demand for packaged food across the globe is estimated to enlarge the demand for centrifugal air compressors. The food & beverage industry involves the product usage for consistent compressed air supply in a range of production & packaging tasks.

Centrifugal Air Compressor Market will surpass USD 7 billion by 2024; according to a new research report.

Request for a sample copy of this report @ https://www.decresearch.com/request-sample/detail/2185

Compressors that meet the noise requirements without using a complete sound enclosure are generally preferred by the manufacturers. This is due to the high cost associated with sound enclosures. Another reason is that sound enclosures make access to the compressors difficult for maintenance. This can be a limiting factor in the centrifugal air compressor market growth as government agencies of various countries have formulated regulations regarding the level of noise emitted from air compressors.

Centrifugal Air Compressor Market by End-user

  • Food & Beverages
  • Oil & Gas
  • Energy
  • Semiconductor & Electronics
  • Manufacturing
  • Healthcare
  • Others

Rising number of manufacturing facilities and growing food & beverage, oil & gas, energy, and electronics sectors will positively influence the demand for centrifugal air compressor market in coming years. Asia Pacific has consistently been the most substantial automotive market involving both production and consumption. In addition, robust growth in the manufacturing sector, particularly in Asia Pacific, indicates a strong potential for centrifugal air compressors market by 2024. For instance, over the last 20 years, Asia Pacific region has been contributing about 40% of the manufacturing sector.

Oil & gas exploration, particularly in South Africa and North America, will drive the centrifugal air compressor market over the forecast period. Rising number of offshore oil rigs along with increasing chemical processing in developing countries will drive the market development during the forecast timeframe. Portable centrifugal air compressors are widely used in the oil & gas sector for the production of crude oil and in the energy sector, where the compressed air is required at multiple locations.

Make an Inquiry for Purchasing this Report @ https://www.decresearch.com/inquiry-before-buying/2185     

Growth Drivers:

  • High automotive industry growth in Asia Pacific and the U.S.
  • Rapid industrial growth in Asia Pacific
  • Technological developments in the field of centrifugal air compressors

Asia Pacific centrifugal air compressor generated over USD 3 billion revenue in 2016. The region held the largest share in 2016 and is projected to observe a parallel growth trend of centrifugal air compressor market by 2024. The region's massive share will be accredited to the enormously growing manufacturing sector in China, Korea, India, Southeast Asian nations, etc. Centrifugal air compressors have been expansively used in various power, hydroelectric, nuclear, thermal, and power plants and diesel-engine generators. The region is likely to witness a substantial demand for centrifugal air compressors, especially in energy sector related applications in the near future. For example, India and China together will setup over 190 thermal power plants over the forecast timespan.

Significant industry participants in centrifugal air compressor market are:

  • Atlas Copco
  • HATCO company
  • Hitachi Ltd.
  • Kirloskar Pneumatic Co. Ltd.
  • Kobelco Compressors Inc.
  • Dresser-Rand

Centrifugal air compressor market players have been focusing on expansion through strategic acquisitions to attain the competitive superiority. For example, Sullair LLC was acquired by Hitachi in the second quarter of 2017. The company achieved significant synergies from this acquisition including the strong sales network of Sullair LLC in North America.

Request for Discount @ https://www.decresearch.com/request-discount/2185

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

Read More >>

More News By Rahul Varpe

Joint Reconstruction Devices Market statistics and research analysis released in latest report
Joint Reconstruction Devices Market statistics and research analysis released in latest report
By Rahul Varpe

Joint Reconstruction Devices Market will exceed USD 21.5 billion by 2024; as per a new research report.Rising prevalence of Osteoarthritis is one of the prominent factors driving the joint reconstruction devices market growth. Being one of the most ...

Dental Implants Market analysis research and trends report for 2019-2025
Dental Implants Market analysis research and trends report for 2019-2025
By Rahul Varpe

Dental Implants Market is expected to exceed USD 5.4 billion by 2025. Growing adoption of cosmetic dentistry and increasing prevalence of dental disorders worldwide will augment market growth. Some major findings of the dental implant market report ...

Hair Transplant Market outlook with industry review and forecasts
Hair Transplant Market outlook with industry review and forecasts
By Rahul Varpe

Hair transplant market is expected to exceed USD 31.0 billion by 2025. Rising number of people suffering from hair thinning problems will primarily drive the hair transplant market growth over the projected timeframe. Some major findings of the hair...