Air Compressor Market Business Growth 2019-2024 By Regions - Americas, Europe, APAC and EMEA
Category: #headlines  By Deepak Pardhi  Date: 2019-08-08
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Air Compressor Market Business Growth 2019-2024 By Regions - Americas, Europe, APAC and EMEA

Global Market Insights has recently added a report on Air Compressor Market Share 2019-2024 which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of this industry. The report also highlights the major challenges and current growth strategies adopted by the prominent companies that are a part of the dynamic competitive spectrum of this business sphere.  

North America and Europe based companies are shifting their production bases to these countries for lower labor costs, easy availability of raw materials, and proximity to high potential markets. Increasing oil & gas exploration in North America and the Middle East will also fuel the demand for compressed air as it is extensively employed for drilling. These factors will significantly influence the industry growth over the forecast time frame.  

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Air Compressor Market will likely surpass USD 40 billion by 2024. The high initial purchase, operational, and maintenance costs associated with air compressor may hamper the market growth over the forecast period. For an instance, portable air compressors cannot be disassembled in the field for maintenance and are relatively expensive as compared to other compressors such as screws, pistons, etc., restricting the industry growth in coming years. This will further hamper the entire market growth in future. Stringent regulations associated with the noise pollution of the air compressor will also a key restraining factor for industry growth by 2024.

  • Air Compressor Market by Application
  1. Home appliances
  2. Food & beverages
  3. Oil & gas
  4. Energy
  5. Semiconductor & electronics
  6. Manufacturing
  7. Healthcare
  • Air Compressor Market by Technology
  1. Rotary
  2. Screw
  3. Scroll
  4. Others
  5. Reciprocating
  6. Centrifugal

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Air compressor lubrication is carried out using air or oil, depending on the application area. Oil free portable compressors are employed in areas where oil contamination can't be tolerated. Healthcare, food & beverage, and electronics industries majorly rely on oil free compressors due to stringent contamination parameters. The segment will show the substantial growth with more than 3.5% CAGR in coming years. The presence of oil in the compressed air in these application areas may have severe repercussions such as health hazards, equipment damage, and other occupational hazards.

Manufacturing sector will be the most important application sector for portable air compressor market as they can be easily carried to different plant locations to supply compressed air. Compressed air is used for various activities in this sector, including supplying plant air for paint spraying, coating, and sand blasting, process and instrument air for operating pneumatic machines and equipment, as well as providing breathing air to operators, etc.

Browse Report Summery @ https://www.gminsights.com/industry-analysis/air-compressor-market

The key players in the market are: Atlas Copco, Vanair, VMAC Company, Hitachi Industrial Equipment Systems, Belaire Compressors, Sullivan-Palatek, AireTex Compressors, Ciasons Industrial, Zen Air, Ingersoll-Rand, Quincy Compressor to name a few..

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Deepak Pardhi    

Deepak Pardhi

Deepak Pardhi carries a brief yet notable experience in the digital marketing domain having worked on several projects across a range of niche verticals. Deepak is endorsed with a B.Tech degree in electrical & electronics engineering.

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