January 10, 2022
According to the report titled ‘Global Air Compressor Market: Analysis By Technology (Reciprocating, Rotary, Centrifugal) , End User, Product Type, By Region, By Country (2020 Edition) : Market Insights, Covid -19 Impact, Competition and Forecast (2020-2025)’, available with MarketStudyReport, global air compressor market was valued at USD 16.2 billion in 2019 and is expected to witness lucrative growth during the period 2020-2025.
Increased consumer awareness about product quality, stringent government norms regarding environment conversation, and compulsory FDA regulations imposed for food safety are factors propelling the growth of global air compressor market.
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Furthermore, recent technological advancements enabling introduction of efficient and portable air compressor models and the growing demand for the same, which also offer a huge reduction in maintenance costs, thereby enticing manufacturers and buyers from across various sectors, is further accelerating industry development.
During the Covid-19 pandemic, industries were severely impacted due to the temporary shutdowns which disrupted the supply chain process. However, the worldwide air compressor industry is likely to witness expansion in post-pandemic era owing to the presence of advanced technology, surging demand for household appliances driven by a rise in the disposable income of the people, and widespread application in diverse sectors like automobiles, etc.
From a regional standpoint, Asia Pacific market is poised to garner massive returns over the course of the analysis period, due to the low cost of production and a spike in investments by major manufacturers and industrialists, particularly in emerging economies like China and India.
Additionally, cost-effective labor, easy availability of raw materials, and abundance of land are anticipated to complement the overall market in the forthcoming years.
The competitive landscape of global air compressor market is defined by companies such as Danfoss, Elgi Equipments Limited, Sullivan-Palatek, Inc., Kaeser Kompressoren, Hitachi Ltd., Ingersoll Rand, Inc., Siemens AG, DeWalt Industrial Tool Company, Emerson Electric Co., and Atlas Copco AB among others.