Global Industrial Air Compressor Market: Snapshot
An air compressor refers to an equipment that transforms power into potential energy employing gasoline engine, diesel, or an electric motor. This potential energy is stored in pressurized air known as compressed air. Using one of the various procedures, an air compressor pushes more and more air inside the storage tank, thus increasing the pressure. When the pressure of the tank reaches the brim, the air shuts off completely. The energy that has been contained in the compressor can be employed by several applications by using the kinetic energy of the air.
The use of industrial air compressor is the most frequently used air compressor as energy is needed in plenty by industries. The robust growth of industrialization, mainly in developing countries and substantial emphasis on conservation of energy is expected to lead to prominent advancements in the technology used in compressor. The different applications of industrial air compressor include driving pneumatic tools, driving pneumatic HVAC systems, and supply clean air for filling gas cylinders.
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The key factor that drives the market is the advancement in technology and the development of novel products. These factors have led to a significant rise in the demand for these products in several industries. The regions witnessing heavy industrial activities are expected to be the key adopters of industrial air compressors. Companies are likely to focus on presenting consumers with high-end products to increase their market reach and thus benefitting the market in future.
Global Industrial Air Compressor Market: Overview
The industrial air compressor market is envisioned to earn a robust demand as manufacturers ride on the expeditious industrialization observed in developing nations. This has paved the way for the need to lay a pronounced emphasis on technological innovation. Noticeable developments have been witnessed on the part of air compressor technologies due to strong emphasis on energy conservation. Air compressors are extensively used for driving pneumatic HVAC systems and filling gas cylinders with the supply of clean air.
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The global industrial air compressor market could be classified as per end use, seal, output power, maximum pressure, and type. By understanding the position of the market on the basis of segmentation, report buyers can take a customized approach in their business.
The customizable presentation of the world industrial air compressor market offered by our analysts is one of the best first steps to secure a long run in the industry. Important aspects of the market such as competitive scenario, growth factors, restraints, and market attractiveness are exclusively explained in the publication.
Global Industrial Air Compressor Market: Trends and Opportunities
The pressurized air produced and stored with the help of industrial air compressors finds important usage in a countable number of applications such as freezing and cooling, packaging, and welding and cutting. It is also vitally used for compressing a gas to ensure its successful transportation to different locations without any damage or loss and powering pneumatic equipment. As a result, unsurprisingly, there has been a diverse range of industries wanting to install air compressors at a high rate.
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The international industrial air compressor market is prognosticated to register an unparalleled growth as food and beverage, paper and pulp, pharmaceutical, electricity generation, manufacturing, and petrochemical and chemical sectors look to parade their rising demand. As processed foods rake in a strong demand, the demand for industrial air compressors is also expected to run high. The global market could be primed for a tangible growth with humongous investments made by developing nations to further their aggressive industrialization. The cross-border improvement in oil and gas transportation networks around the globe could be attributed to the surge in international demand.
In terms of type, positive displacement air compressor is a possible market that holds the potential to augment the demand significantly. This could again be accredited to the upswing in the requirement for gas and air compression and its broad-ranging scope of applications in various sectors.
Global Industrial Air Compressor Market: Regional Outlook
The economies which have witnessed a significant plunge in oil prices could find a low air compressor demand in the upstream oil and gas sector. Thus, the world industrial air compressor market is predicted to be slightly on the slower side, owing to the economic depression and sluggish industrial development in some countries. Some part of the slowdown in growth of the global industrial air compressor market could also be imputed to the adoption of renewable and cleaner electricity production techniques in nations such as France, Germany, the U.S., and the U.K.
However, attractive market opportunities are foretold to spring forth from the maturation of gas and oil pipeline networks across the world borders. Besides this, more opportunities are prophesied to take birth from the aggravating need for systemized and technologically sophisticated air compressors.
China and India have received a promising support in the form of various proactive and fresh policy reforms for their manufacturing industry. Keeping its lofty CAGR in view, the China market could grow larger followed by India bearing the second-highest demand growth. In this regard, Asia Pacific is foreseen to grasp a leading share in the world industrial air compressor market in the matter of both market size and rate of growth.
Global Industrial Air Compressor Market: Companies Mentioned
One of the latest strategies considered by most players in the industrial air compressor market is launching new technologies and products. Hitachi Ltd., Ingersoll-Rand plc, Gardner Denver, Inc., Doosan Infracore Co. Ltd., and Atlas Copco AB are some of the top companies exhibiting their prominence in the industry.