February 21, 2020
According to a recent study titled ‘Portable Air Compressor Market Size By Technology (Rotary [Screw, Scroll], Reciprocating), By Lubrication (Oil Free, Oil Filled), By Application (Building & Construction, Food & Beverage, Oil & Gas, Energy, Semiconductor & Electronics, Manufacturing, Healthcare [Medical, Dental], Mining & Construction, Municipal), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2024’ available with Market Study Report LLC, the global portable air compressor market is subjected to amass USD 7 billion by the year 2024.
Amplifying manufacturing sector is supporting the product demand as portable air compressors act as essential source of energy for various processes. The systems is extensively used in control air tools, conveyor systems, metal finishing processes, production line operations, and welding procedures. Developing countries such as India, China, Thailand, Singapore, Malaysia, etc. have observed considerable manufacturing activities over the decades making Asia Pacific a leading market prospect for the product over the period of study.
In terms of technology, reciprocating segment of portable air compressor market is slated to amass a revenue of over USD 800 million during 2019-2024. Low maintenance requirements and high production efficiency are two main factors complementing product penetration. These products are primarily suitable for small and medium-sized end-users. Primarily, the technology adopts a crankshaft-driven piston and cylinder to condense the air. This unique characteristic of the segment will positively influence portable air compressor market statistics.
Regionally, North America will emerge as a profitable revenue pocket in the near future owing to developments in the oil and gas, IT, and automobile industries in the region. U.S. is leading the regional market due to the presence of prominent product manufacturers. Moreover, surging oil & gas exploration activities in North America will positively contribute to the market size.
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An increase in disposable income among the people in both developed and emerging nations will drive advancements in the food and beverage industry to meet the changing product preferences, which in turn will foster the adoption of portable air compressors across this application segment. The product is broadly required for contamination-free air for a variety of purposes such as filling equipment, product packaging, closing & checking devices, nitrogen generation, and mixing & movement of food items. Additionally, the product is also used in vending machines, ozone generators, bakeries etc. Portable air compressors provide clean air with comparatively low cost of maintenance making them highly viable for this industry.
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