Industrial Air Compressor Market is expected to generate a huge demand by 2026
Category: #business  By Rahul Varpe  Date: 2020-02-03
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Industrial Air Compressor Market is expected to generate a huge demand by 2026

Manufacturing sector growth in Asian region will boost the industrial air compressor market as the product are widely used in industries including steel fabrication, heavy engineering products, automotive production, energy & mining, food & beverage, pharma, etc. Asia Pacific region has witnessed a strong industrial development in the last decades, accounting for around 40% of the global output in 2018. Manufacturing, construction, and mining activities have witnessed an upward growth over the last decade. Stringent emission norms will be a key hindrance for the growth of the industrial air compressor market in the upcoming years.

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Industrial Air Compressor Market is expected to surpass USD 24 billion by 2026. Increase in manufacturing activities in most of the developing economies will bolster the overall industry size.

Based on lubrication, the oil filled industrial air compressor segment will be valued at more than USD 10 billion by 2026. Manufacturing sector growth will have a significant impact on the oil filled compressors due to its minimal cost and rough application advantages over oil free types. Oil filled industrial air compressors have their applications in power plants including nuclear, thermal and hydroelectric plants. The oil filled industrial air compressors are mostly employed in mining, drilling and quarrying activities to power pneumatic drilling equipment.

Based on technology, the market is classified into rotary, reciprocating and centrifugal air compressors. Here, rotary air compressors is the largest and the fastest growing technology, that accounted for more than 55% market in 2018 and is likely to expand with the substantial rate by 2026. This is because they are good energy conservers and generates lesser heat than that of other air compressors. In addition to this, rotary air compressor consumes less oil in comparison to other types in the segment which in turn will drive their growth in the near term.

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Hitachi, Quincy Compressor, Sullivan-Palatek, Rolair Systems, Gardner Denver, Atlas Copco, Elgi Compressors, Sullair, Kaeser Kompressoren, Ingersoll-Rand, Bauer Compressors, Aerzener, Ciasons Industrial, Heyner, Mat Holdings, and Doosan Portable Power are the prominent players in the industrial air compressor market. Market leaders such as Atlas Copco, Gardner Denver, Ingersoll Rand, etc. have a strong global presence with several subsidiaries and joint ventures located across the world.

Some major findings of the industrial air compressor market report include:

  • Growth in manufacturing industry in developing economies will primarily boost the industrial air compressor market by 2026
  • Upsurge in demand for compressed air in several end-use applications will create opportunities for product penetration in various sectors
  • Rising usage of pneumatic equipment such as actuators, robotic arms, automated assembly lines, etc. will influence product demand

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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 ...

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