November 15, 2022 09:58 ET | Source: Vantage Market Research Vantage Market Research
WASHINGTON, Nov. 15, 2022 (GLOBE NEWSWIRE) -- Global Air Compressor Market was valued at $32.4 Billion in 2021 and is expected to reach $38.9 Billion by 2028, registering a CAGR of 3.1% during the forecast period of 2022-2028. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Vantage Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand. 4 IN 1 Compressor
Vantage Market research has a newly released expansive study titled Global Air Compressor Market which guarantees you will remain better informed than your competition. This study provides a broader perspective of the marketplace with its comprehensive market insights and analysis which eases survival and succeeding in the market. This Air Compressor report has been produced, which results in significant growth, as well as robust sustainability in the market for the firms. This is due to the inclusion of precise facts and insights gained from market research. This study analyzes and talks about a variety of topics, including significant industry trends, estimations of market size, and market share. This report provides an advantage that not only allows one to compete but also allows one to excel over one's rivals. It classifies the global Air Compressor market size in terms of value and volume according to the various types of manufacturers, applications, and regions. The outlook for the Air Compressor market and the Air Compressor industry as a whole appears to be quite positive during the projection period.
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Rapid Industrialization and Increasing Automation in Emerging Economies Drives the Market
Industrial air compressors have an extensive range of applications in industries including chemical compounds & petrochemicals, oil & gas, pharmaceuticals, construction, automobile & transportation, packaging industry, energy generation, healthcare, metals & mining, and others. Rapidly growing industrialization and manufacturing activities provide immense potential for the growth of the commercial air compressors. In addition, government initiatives to promote commercial automation and emphasis on commercial automation for optimum utilization of resources also drive the demand for industrial air compressors as they can be used for powering pneumatic tools, packaging, automation equipment, and conveyors.
Cost-Effective Operations to Drive the Market Demand
Energy-efficient compressors are witnessing a surge in demand owing to their cost-effective operations. The increased adoption of variable-speed systems, low maintenance cost, effective operation, and retrofitting for present structures are a few parameters that propel the demand for air compressors throughout key end-use industries. Also, the expanded demand for monitoring & servicing of compressed air installations is anticipated to drive the Air Compressor Market in projected years.
List of Prominent Players in the Air Compressor Market:
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Segmentation of the Global Air Compressor Market:
The Report on Air Compressor Market Highlights:
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Key Highlights from the Report
Asia Pacific Holds Largest Market Share
Asia Pacific dominated the Global Air Compressor Market in 2021. With the increased use of machinery and equipment across numerous end-use sectors and considerable development in the manufacturing sector, the requirement for crude oil and renewable resources has increased at a substantial pace. Thus, the application of products capable of withstanding adverse environments, in turn, is anticipated to propel the growth of the Air Compressor Market in the forecast period.
Browse market data Tables and Figures spread through 142 Pages and in-depth TOC on Air Compressor market Forecast Report (2022-2028).
June 2021: Bosch signed a long-term agreement with Daimler Truck AG and Volvo Group AB to supply electric air compressors with integrated power electronics to help with the development of hydrogen fuel cell systems.
October 2021: Ingersoll Rand acquired Air Dimensions Inc. for an all-cash purchase of USD 70.5 million. Based in Deerfield Beach, Fla., Air Dimensions designs, manufactures, and sells vacuum diaphragm pumps primarily for environmental applications in high-growth, sustainable end markets, such as emission monitoring, biogas, utility, and chemical processes.
November 2021: Atlas Copco acquired S.T.E.R.I. SRL (STERI), an Italy-based compressor distributor and service provider located in Turin. The company mainly serves a wide range of local industrial companies in the Piedmont and Valle d’Aosta regions in Italy. Its range includes compressors, filters, and ancillary equipment. The business has become part of the Compressor Technique Service division within the Compressor Technique Business Area.
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