Reciprocating Air Compressor Market 2020 – 2024 | Future Demand, Rising Trends and Regional Forecast
Category: #headlines  By Rahul Varpe  Date: 2020-05-15
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Reciprocating Air Compressor Market 2020 – 2024 | Future Demand, Rising Trends and Regional Forecast

Home appliances application segment will capture more than half volume share in the application segment in coming years. This is all due to its extensive usage in air conditioners, freezers, refrigerators and other household appliances. Development in home appliances industry will boost the reciprocating air compressor market in the forecast timeframe.

Rapid industrial development in the Asian countries will propel the reciprocating air compressor market they are widely used in various industries including food & beverage, oil & gas, energy, electronics, manufacturing, etc.

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Mexico reciprocating air compressor market will seize over half of the volume share in 2024 due to mature household and food & beverage industries coupled with significant growth in manufacturing industry. This in turn will positively influence the Latin America reciprocating air compressor industry throughout the forecast period.

Reciprocating Air Compressor market will surpass USD 6.4 billion by 2024; according to a new research report.

Growth Drivers: -

  1. Growth in automotive industry in Asia Pacific
  2. Significant growth in the household appliances market

Reciprocating Air Compressor Market by Application: -

  1. Home appliances
  2. Food & beverage
  3. Oil & gas
  4. Energy
  5. Semiconductor & electronics
  6. Manufacturing
  7. Healthcare
  8. Others

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Stationary product type is expected to dominate the reciprocating air compressor market over the predicted time. This is owing to the high strength, efficiency, low oil level switch, automatic tank drain, and other superior features of the product. Significant demand for the product from automotive, manufacturing and other end-use industries will boost the segment demand by 2024.

Asia Pacific has been witnessing a healthy industrial development over the past few decades with the region accounting close to 40% of the global output. Automotive, electronics, manufacturing, and mining activities have witnessed a sharp growth in the last decade. The region's lower labor prices, easy raw material availability, and rising commodities demand have transformed it into a manufacturing hub of the entire world.

Major players in reciprocating air compressor market are: -

  1. Atlas Copco
  2. Quincy Compressor
  3. Elgi Compressors
  4. Emersion Climate Technologies
  5. Gardner Denver
  6. Sullair
  7. Ingersoll-Rand
  8. Kaeser Kompressoren
  9. Frank Technologies

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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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