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Abstract, Snapshot, Market Analysis & Market Definition: Air Compressor Market
Industry / Sector TrendsAir Compressor Market Size was valued over USD 30 billion in 2017 and the industry will grow by a CAGR of more than 3.5% up to 2024. U.S. Air Compressor Market Size, By Application, 2013 – 2024 (USD Million) Significant growth in the household appliances sector will spur the entire air compressor market demand in forecast timeframe. High GDP growth rate coupled with surge in disposable income are fueling the white goods demand in Asia Pacific, mostly in China and India. The product are extensively used in refrigeration and air-conditioning systems. Asian region has the key household appliances market which is experiencing a significant demand growth and increased production. China is the largest refrigerator and freezer manufacturer with the total output exceeding 88 million units in 2016. The overall air-conditioner demand in China was more than 40 million units in 2017 and is likely to increase at a CAGR of 3.5% during the forecast timeframe. This will boost the compressor demand for use in refrigeration and air-conditioning systems in the coming years. Moreover, high economic growth is driving the household appliances demand in China. The country experienced a high GDP growth of 6.7% in 2017 while the disposable income per capita increased from USD 2,896.5 in 2010 to USD 5,095.3 in 2016. These factors coupled with rapid urbanization will increase the household appliances demand, which in turn will propel the air compressor market growth over the forecast period. Positive industrial growth in the Asian countries will boost the overall market in future as the product is widely used in several industries including food & beverage, oil & gas, energy, electronics, manufacturing, etc. Asian region has been witnessing a healthy industrial development over past years, accounting for almost 40% of the global output. Automotive, general manufacturing, electronics, and mining activities have witnessed an optimistic growth in the last decade. Low labor cost, easy availability of raw materials, and positive commodities demand have transformed Asia Pacific into a manufacturing hub of the globe. These factors are said to bolster the global market demand by 2024. Stringent government regulations regarding the noise levels of air compressors owing to sound pollution will be a major hurdle for the industry. Another restraining factor is the emission of greenhouse gases causing air pollution. Regulations and mandatory frameworks have been formed to reduce pollution caused by these machines to safeguard the ecology. These factors may result as restraints to the industry.
Market Segmentation, Outlook & Regional Insights: Air Compressor MarketAir Compressor Market, By Product On the basis of product, the air compressor market is segmented into portable and stationary. Oil & gas production and exploration activities have application of portable machineries mainly in upstream operations as they need to be moved from one place to another. Usage of portable machineries in various locations will drive wheel mounted air compressors market in near future. Widespread application of stationary machineries in various end used industries such as automobile and manufacturing will augment the market in near future. The segment was valued more than USD 20 billion in 2017 and will grow at a decent rate in the forecast time spell. Air Compressor Market, By Technology On the basis of technology, the global air compressor market is categorized into rotary, centrifugal and reciprocating. The rotary segment is further segmented into screw, scroll and others. Low maintenance cost incurred along with higher efficiency of rotary air compressor will drive its market in coming years. This segment will show the significant annual growth rate considering the other segments. Centrifugal air compressors was valued more than USD 10 billion in 2017 and is likely to expand its revenue share from 2018 to 2024. These are extensively used in heavy-duty industrial applications as they deliver high flow capacity per unit of installed space & weight, require significantly less maintenance than reciprocating compressors, and have better reliability. Air Compressor Market, By Lubrication Based on lubrication, the market is segmented into oil free and oil filled air compressor. Improving standards in the food & beverage industry related to contamination, infections and hazards will propel the demand of oil free compressor in coming years. This segment will grow with a positive growth rate due to its increasing application in food processing and packaging activities. High pressure activities such as oil extraction, drilling and mining will drive the oil filled air compressor market demand. Recent decisions taken by governments of various countries in North America and Middle East to increase oil production will drive industry in next few years. in 2017, the segment was valued over USD 20 billion and will raise with a significant CAGR in forecast timeframe. Air Compressor Market, By Application Global air compressor market on the basis of application has been categorized into home appliances, food & beverage, oil & gas, energy, semiconductor & electronics, manufacturing and healthcare and others. The others segment includes waste water, agriculture, construction, entertainment, etc. Healthcare application segment has been sub divided into medical, dental & other healthcare applications. The home appliance segment was valued over USD 7 billion in 2017 and is likely to spur its revenue share by 2024. The product has main application in air conditioners, refrigerators and also for tire inflation in household workshops. Rising demand for home appliances in most of the developing nations due to improving standard of living will bolster the entire air compressor market in future. Air Compressor Industry, By Region Asia Pacific air compressor market held share of around 55% in 2017 and will show an exceptional growth in near future. Rising population and increasing real income of population has catapulted the demand of various home appliance products, thus giving an up thrust to the air compressor market growth. In Europe the industry valued around USD 5 billion and it is expected to rise significantly as market is mature in this region. Large presence of oil & gas sector in Latin America results as demand generating factor for air compressors in the region. Additionally, steps taken by governments to boost manufacturing sector in order to revive economies will further acts as a factor increasing overall product demand.
Key Players, Recent Developments & Sector Viewpoints: Air Compressor MarketSome of the key players operating in the global air compressor market are Gardner Denver, Rolair Systems, Atlas Copco, Sullair, Kaeser Kompressoren, Ingersoll-Rand, Doosan Portable Power, Bauer Compressors, Aerzener Maschinenfabrik, Elgi Compressors, Ciasons Industrial, Heyner, Sullivan-Palatek, Hitachi Industrial Equipment Systems, Mat Holdings, Quincy Compressor, Emerson Climate Technologies and Frank Technologies. Atlas Copco is one of the giant industry players which recently acquired a number of companies such as Glauber Equipment, Mobilaris MCE AB, Pressure Compressores and others in part or whole to enhance its market share and expand its portfolio. Industry Viewpoint Compressed air is required in almost every aspect of the industry for a variety of applications, ranging from sandblasting and painting to cleaning and operating automated instruments such as actuators, switches, etc. Air compressor market is driven by major end user industries such as healthcare, manufacturing, home appliances, oil & gas, and others. Increasing use of better quality and technologically updated products in appliances and other industrial machineries will propel the industry growth in coming year
Key Insights Covered: Exhaustive Air Compressor Market1. Market size (sales, revenue and growth rate) of Air Compressor industry. 2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Air Compressor industry. 3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Air Compressor industry. 4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Air Compressor industry.
Research Methodology: Air Compressor Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
1 Report Overview 1.1 Research Scope 1.2 Major Manufacturers Covered in This Report 1.3 Market Segment by Type 1.3.1 Global Air Compressor Market Size Growth Rate by Type (2019-2025) 1.4 Market Segment by Application 1.4.1 Global Air Compressor Market Share by Application (2019-2025) 1.5 Study Objectives 1.6 Years Considered 2 Global Growth Trends 2.1 Production and Capacity Analysis 2.1.1 Global Air Compressor Production Value 2014-2025 2.1.2 Global Air Compressor Production 2014-2025 2.1.3 Global Air Compressor Capacity 2014-2025 2.1.4 Global Air Compressor Marketing Pricing and Trends 2.2 Key Producers Growth Rate (CAGR) 2019-2025 2.2.1 Global Air Compressor Market Size CAGR of Key Regions 2.2.2 Global Air Compressor Market Share of Key Regions 2.3 Industry Trends 2.3.1 Market Top Trends 2.3.2 Market Drivers 3 Market Share by Manufacturers 3.1 Capacity and Production by Manufacturers 3.1.1 Global Air Compressor Capacity by Manufacturers 3.1.2 Global Air Compressor Production by Manufacturers 3.2 Revenue by Manufacturers 3.2.1 Air Compressor Revenue by Manufacturers (2014-2019) 3.2.2 Air Compressor Revenue Share by Manufacturers (2014-2019) 3.2.3 Global Air Compressor Concentration Ratio 3.3 Air Compressor Price by Manufacturers 3.4 Key Manufacturers Air Compressor Plants/Factories Distribution and Area Served 3.5 Date of Key Manufacturers Enter into Air Compressor Market 3.6 Key Manufacturers Air Compressor Product Offered 3.7 Mergers & Acquisitions, Expansion Plans 4 Market Size by Type 4.1 Production and Production Value for Each Type | read more...