January 14, 2020
According to the research report titled ‘Industrial Air Compressor Market Size By Product (Portable, Stationary), By Technology (Rotary [Screw, Scroll], Reciprocating, Centrifugal), By Power (Up to 15 kW, 16 - 75 kW, 75 - 500 kW, More than 500 kW), By Lubrication (Oil Free, Oil Filled), By Application (Food & beverage, Oil & gas, Energy & Mining, Semiconductor & electronics, Manufacturing, Construction & Municipal, Pharma, Agriculture/Farming), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026’, available with Market Study Report LLC, the global industrial air compressor market is expected to exceed USD 24 billion by the year 2026.
According to the report, flourishing manufacturing sector in developing regions is the major factor driving the growth of industrial air compressor market. Industrial air compressors are widely used in industries such as pharma, food & beverage, energy & mining, automotive production, heavy engineering products, and steel fabrication. Growing importance of compressed air in various end-use applications is aiding the expansion of the market.
Rising adoption of pneumatic equipment such as automated assembly lines, robotic arms, and actuators is stimulating the industry outlook. However, strict government regulations pertaining to emission mitigation will hinder the growth of the industrial air compressor market.
Based on the lubrication type, oil filled industrial air compressor market segment is expected to be worth USD 10 billion by the year 2026. Oil filled industrial air compressors are used in hydroelectric, thermal, and nuclear power plants. The equipment is applied in quarrying, drilling, and mining activities in order to power pneumatic drilling equipment. The growth of manufacturing industry has positively impacted the demand for oil filled compressors, owing to their rough application advantages and minimal costs.
In terms of the technology spectrum, the report cites that the rotary air compressor market segment held 55% share in 2018 and is projected to register decent growth in the upcoming years. The growth is attributed to the properties associated with rotary air compressor such as less heat generation and energy conservation. Moreover, this type of air compressor requires less oil as compared to its counterparts, which in turn is facilitating the business scenario.
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As per the regional analysis, the report states that Asia-Pacific region held 40% share of industrial air compressor market in 2018. This is due to rapid industrialization, along with rising mining, construction, and manufacturing activities across the region.
The prominent companies operating in industrial air compressor market are Frank Technologies, Emerson Climate Technologies, Inc., Air Squared, Inc., Bauer Compressors, Inc., Boge Compressors, Zen Air Tech Pvt. Ltd., VMAC Co. (VMAC Global Technology, Inc.), Vanair Manufacturing, Inc., Quincy Compressor, Aerzener Maschinenfabrik GmbH (Aerzen), Oasis Manufacturing, Mat Holdings, Inc., Ciasons Industrial, Inc., Hitachi Industrial Equipment Systems Co. Ltd., Heyner UK Lt.d, Elgi Compressors USA, Inc., and Hubei Teweite Power Technology Company Limited among others.
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