March 04, 2020
As per the report titled ‘North America Air Compressor Market Size By Technology, Lubrication, Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 - 2024’, available with Market Study Report LLC, North America air compressor market is anticipated to exceed USD 8 billion by the year 2024.
Rapid expansion of the manufacturing industry on account of integration of advanced technologies such as artificial intelligence and machine learning is driving the growth of North America air compressor market. Widespread incorporation of next-gen technologies coupled with ongoing innovations in this industry vertical will aid in lowering the labor and operational costs in the manufacturing sector, thereby rendering a positive impact on the demand for air compressors across North America.
Based on the product, stationery air compressor product segment is anticipated to account for a significant share of North America air compressor market during the forecast period. The growth can be attributed to extensive use of these compressors across various end-industries owing to their favorable properties including high mechanical strength and easy commercial availability.
The report also cites that rotary technology segment of North America air compressor market is expected to register a high CAGR over the forecast timeline. Likewise, oil free lubrication segment is slated to see rapid growth in the coming years, owing to the growing adoption of these compressors in the food & beverage industry.
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Heyner UK Ltd., Doosan Portable Power, Ingersoll-Rand Plc, Sillivan-Palatek, Inc., Rolair System, Atlas Copco, Gardner Denver, Kaeser Kompressoren SE, Hitachi Industrial Equipment, Ciasons Industrial, Inc., Sullair LLC, Quincy Compressor, Boge Compressors, VMAC Company, Air Squared, Frank Technologies, Emerson Climate Technologies, Inc., Mat Holdings, Inc., and Oasis Manufacturing are the major players operating in North America air compressor market. These industry colossuses are emphasizing on acquisitions, mergers, and collaborations to maintain stronghold in the regional market.
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