- This industry analysis report segments the air compressor market by type (stationary and portable) and by technology (PD compressors and centrifugal compressors). The report outlines market shares for APAC, EMEA and the Americas. It includes in-depth analysis of the vendor landscape covering major players such as Accudyne, Atlas Copco, Ingersoll Rand, and Kobe Steel.
Technavio analysts predict the global air compressor market , which generated nearby US $16 billion in 2014, to grow at a CAGR of around 6% between 2015 and 2019. APAC is the significant revenue contributor of the market generating around US $7 billion in 2014, followed by EMEA and the Americas. Owing to the presence of major end-users, especially chemical and petrochemical industry and the manufacturing industries, APAC is expected to occupy around 46% of the total market share in 2019.
The new market research report from Technavio presents an insightful analysis of the air compressors market underlining its growth potential through driving factors and trends.
Positive displacement air compressors segment, categorized into rotary and reciprocating compressors, occupies close to 68% of the market share, and is projected to reach over US$15 billion by 2019. In consideration to the low cost of PD compressors, it is the most widely-adopted and preferred compressors segment worldwide. Rotary air screw compressors are the most commonly used PD compressors, and are advantageous for applications requiring less power output. However, with incessant demand and requirement for time-oriented operational capabilities, centrifugal compressors are expected to gain traction among the end-users because of their low maintenance.
Source: Technavio Research
“The demand for air compressors in the APAC region has increased due to the presence of many manufacturing facilities. Continuous availability of raw materials, huge labour pool, favourite demography situations, high demand and low costs associated with manufacturing have made major discrete and process industries to set up manufacturing facilities in China, Japan, India, and Korea,” says Sriram Mohan, Leat Analyst, Automotive, Technavio Research.
To give fillip to market growth, recent ontogenesis in the air compressors market highlight the implementation of newer technologies like VSD compressors, oil-free compressors and system controllers which aim towards better energy storage and reduction in energy bills. Besides, the development of next generation compressors contrive to get energy savings of more than 50% and generate renewable energy.
Major companies in this market include Accudyne Industries, Atlas Copco AB, Ingersoll Rand Inc. and Kobe Steel ltd. Atlas Copco is the largest vendor for air compressors in the Global Air Compressors market because of its manufacturing facilities in several locations globally along with an increased focus towards R&D.
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