December 02, 2020
According to a recent study titled ‘Industrial Air Compressor Market Size By Product, By Technology, By Power, By Lubrication By Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2026’, available with Market Study Report LLC, global industrial air compressor market is expected to register an appreciable growth rate during 2019-2026, subsequently accumulating USD 24 billion by the end of the forecast timeframe.
As per the report findings, global industrial air compressor industry is largely driven by growth of manufacturing industry in emerging economies, along with increasing application of pneumatic equipment such as robotic arms, actuators, and automated assembly lines. Besides, spike in demand for compressed air in varied end-use applications is expected to boost the product penetration across various verticals. However, stringent emission will negatively impact the industry outlook in the upcoming years.
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Based on technology, rotary segment captured 55% of global industrial air compressor market share in 2019 and will exhibit strong growth through 2026. Advantages such better energy conservation, reduced heat generation, and lower fuel consumption in comparison to other types are encouraging the deployment of rotary air compressors.
On the basis of lubrication, global industrial air compressor industry from oil filled segment is projected to garner USD 10 billion by 2026. The demand for oil filled air compressors in the flourishing manufacturing sector is attributable to rough application and minimal cost benefits over oil free types. These compressors find application in thermal, nuclear, and hydroelectric plants. They are widely used in drilling, mining, and quarrying activities for powering pneumatic drilling equipment.
Considering the regional outlook, Asia Pacific industrial air compressor market is anticipated to grow tremendously over the forecast timeline. The growth is creditable to rapid industrialization in the region over the last few decades, accounting for 40% of the global in 2018.
Major players impacting global industrial air compressor market dynamics are Oasis Manufacturing, Ciasons Industrial, Inc., MAT Holdings, Inc., Hitachi Industrial Equipment Systems Co., Ltd., Elgi Compressors USA, Inc., Heyner UK Ltd., Hubei Teweite Power Technology Co., Ltd., Sullivan-Palatek, Inc., Rolair Systems, Kaeser Kompressoren SE, Doosan Portable Power, Ingersoll-Rand plc, Atlas Copco, and Sullair, LLC, and Gardner Denver, Inc. among others.