Industrial air compressors have a wide range of applications in industries such as chemical and petrochemical, oil and gas, pharmaceutical, construction, automotive and transportation, packaging industry , power generation, healthcare, metals and mining, etc. Rapidly growing industrialization and manufacturing activities provide immense growth potential for the industrial air compressor market owing to increasing investments and capacity expansions
NEWARK, Del, May 17, 2022 (GLOBE NEWSWIRE) — Increased investment in mechanical equipment will pave the way for expansion of the industrial air compressor market In the years to come. According to a Future Market Insights (FMI) analysis, the industrial air compressor market is expected to be valued at around US$26.7 billion in 2021.
The current crisis caused by the COVID-19 pandemic has had a serious impact on the global economy. This resulted in the complete shutdown of supply chain networks and manufacturing activities. This then affected the industrial air compressor market, causing a significant decline in growth. However, the industrial air compressor market is expected to recover as economic activity picks up following the containment of the pandemic.
Manufacturers of industrial air compressors focus on the development of CNC systems such as compressor solutions with automation and digitalization. This in turn is expected to create positive growth prospects for the growth in demand for industrial air compressors.
In addition, ever-increasing demand from the oil and gas sector will remain a key growth driver. According to the report, oil and gas along with automotive and transportation industries will account for the peak sales in the market during the forecast period. The expansion of these industries will therefore present attractive opportunities for growth in the near future.
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Key Insights from Industrial Air Compressor Market Research
Industrial Air Compressor Market to register a CAGR of around 4.6% over the forecast period 2021-2031
The expansion of oil exploration activities has placed the United States as a main market, which accounts for more than 70% of sales in North America.
Improving production in the automotive sector will fuel demand in the UK, enabling growth of more than 6% year-on-year in 2021 in terms of value
Application in various industries will drive the growth of industrial air compressor market in Germany and France
Rising demand for power generation will drive growth in Japan and China
“The main catalyst for the growing popularity of air compressors is the innovation brought to the newest models on the market. During an economic downturn, air compressor sales are less likely to experience significant gains in some of the world’s most developed markets. Nevertheless, the technology will always have thriving markets as long as there are developing countries willing to compete with the industrialized world. says an analyst from Future Market Insights.
The industrial air compressor market is expected to be a high opportunity market over the forecast period owing to growing demand from various manufacturing and production industries as well as investments in the oil and gas and power generation, which are expected to drive demand through the forecast period. Moreover, manufacturers emphasize on developing digitized and customized products according to customer demands, as well as improved technology, life cycle, higher efficiency and lower maintenance costs. These factors are expected to positively influence the growth in demand for industrial air compressors over the forecast period.
Challenges: Meeting strict quality standards
Countries like the United States, Canada, United Kingdom and other European countries have introduced new emission standards for compressors to improve air quality by decreasing the release of contaminants. The standards are regularly updated from time to time, which may require the manufacturer to make drastic adjustments to the design and performance of industrial air compressors. In addition, compressed air contamination is a serious problem for several industries such as food and beverage, healthcare, pharmaceuticals and chemicals. A safer compressed air supply is necessary to maintain efficient and profitable production.
The majority of industrialized countries have imposed strict rules and regulations, which must be adhered to when using compressors, to limit the emission of contaminants from air compressors and prevent health hazards from air contaminated tablet. For example, the United States has issued Tier 4B regulations for compressor manufacturers.
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The industrial air compressor market is highly consolidated, in which the major players account for more than three quarters of the market share. The penetration of small regional players makes this market more competitive. Some of the major market players are Atlas Copco, Baker Hughes, Anest Iwata Corporation, General Electric, Hitachi Industrial Equipment Systems Co., Ingersoll Rand, Burckhardt, MAN SE, Siemens Energy AG, Ariel Corp. and Bauer Kompressoren GmbH, among others. These players have higher shares in the global market and have long-standing relationships with a number of end users, which gives them an edge over their peers.
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Technology roadmap
1.5. Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
3. Key Market Trends
3.1. Key trends impacting the market
3.2. Product Innovation / Development Trends
4. Key success factors
5. 2016-2020 Global Industrial Air Compressors Market Demand Analysis and Forecast, 2021-2031
5.1. Historical Analysis of Market Volume (Units), 2016-2020
5.2. Current and Future Projections of Market Volume (Units), 2021-2031
5.3. Analysis of annual growth trends
6. Global Industrial Air Compressors Market – Price Analysis
7. Global Industrial Air Compressors Market Demand (by US$ Value or Size) min) Analysis 2016-2020 and forecast, 2021-2031
7.1. Historical Market Value Analysis (USD Million), 2016-2020
7.2. Current and Future Market Value Projections (USD Million), 2021-2031
7.2.1. Analysis of annual growth trends
7.2.2. Analysis of opportunities in absolute dollars
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