- A substantial upsurge in industrialization across the globe and the upcoming investments in various industries may bring tremendous growth opportunities for the industrial air compressor market across the forecast period of 2020-2030
- The global industrial air compressor market is extrapolated to expand at a CAGR of ~4 percent between 2020 and 2030
ALBANY, N.Y., Sept. 3, 2020 /PRNewswire/ -- Awareness about energy-efficiency is bolstering the growth prospects of the industrial air compressor market and may further invite great growth opportunities during the forecast period of 2020-2030. Technological developments are also helping the industrial air compressor market to garner substantial growth and are also enabling the replacement of traditional compressors with modern ones.
The TMR (Transparency Market Research) analysts predict the global industrial air compressor market to expand at a CAGR of ~4 percent during the assessment period of 2020-2030. The global industrial air compressor market is estimated to reach a valuation of US$ 26.6 bn from US$ 18.1 bn by 2030.
Oil and gas exploration and mining activities are inviting burgeoning growth prospects for the industrial air compressor market. These tough work environemnts require large industrial air compressors. This factor may generate growth. Similarly, the growing influence of industrial air compressors across other applications is also laying a red carpet of growth.
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Industrial Air Compressor Market: T.E.D (Transparency Expert Diagnosis) Talk
The analysts at Transparency Market Research highlight the potential of compressed air as a cause of COVID-19 spread. Therefore, based on this factor, healthcare workers and other end-users are opting for industrial air compressors that assure air purity and eliminate contamination issues.
The analysts further shed light on the manufacturers' need to adhere to the various regulations framed by the government such as the energy conservation amendment. The analysts also advise the players in the industrial air compressor market to increase their production capabilities in centrifugal compressors and focus on improving the designs of oil-free units. This aspect will enable the smooth replacement of diesel-driven equipment with oil-free units.
Explore 330 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into Industrial Air Compressor Market (Product Type: Reciprocating, Rotary, and Centrifugal; Lubrication: Oil-filled and Oil-free; Form Factor: Portable and Stationary; and Industry: Oil & Gas, Manufacturing, Healthcare/Pharmaceutical, Food & Beverages, Energy & Utility, Consumer Goods, Metal & Mining, Transportation, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030 at https://www.transparencymarketresearch.com/industrial-air-compressor-market.html
Industrial Air Compressor Market: Major Findings
- The rotary segment acquired a significant share of the global industrial air compressor market in 2019 and is expected to display the same between 2020 and 2030
- On the basis of lubrication, the oil-filled segment is expected to account for a major share of the global industrial air compressor market
- Asia Pacific served as the largest growth-contributing region in 2019
- Asia Pacific may expand at a high CAGR across the assessment period of 2020-2030
Request the Covid19 Impact Analysis across Industrial Air Compressor Industries and Markets
Industrial Air Compressor Market: Growth Propellers
The ability of industrial air compressors to maintain smooth airflow in harsh conditions may serve as the prominent property that will invite expansive growth for the industrial air compressor market.
- High automobile production in various regions will prove to be a significant growth factor for industrial air compressor market
- Infrastructure projects and swift urbanization may sow the seeds of growth across the industrial air compressor market
- Escalating awareness regarding energy efficiency may prove to be a major growth prospect for the growth of industrial air compressor market through the increased installations of energy-efficient air compressors
Analyze global industrial air compressor market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
COVID-19 Impact on Industrial Air Compressor Market
The novel coronavirus outbreak has affected almost every sector. Air compression has been deemed as an essential service and may observe a minimum negative impact on the growth. However, a good growth opportunity has knocked the doors of the industrial air compressor market during the pandemic. Various studies have found that compressed air is said to spread COVID-19 rapidly.
Therefore, the installation of air compressors has become the need of the hour for various companies to avoid transmission. This factor may invite massive growth prospects for the industrial air compressor market.
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Global Industrial Air Compressor Market: Segmentation
By Product Type
- Reciprocating
- Rotary
- Centrifugal
- By Lubrication
- Oil-filled
- Oil-free
By Form Factor
- Portable
- Stationary
By Industry
- Oil & Gas
- Manufacturing
- Healthcare/ Pharmaceutical
- Food & Beverages
- Energy & Utility
- Consumer Goods
- Metal & Mining
- Transportation
- Others (Construction, Automotive, etc.)
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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