Driven by the increasing demand for products with higher operational output and efficiency, the Global Air Compressor Market is Forecasted to Cross US$ 40 Bn by 2028 says Ken Research Study.
An air compressor is a device that transforms power from an electric motor, diesel engine, or gasoline engine, etc. into potential energy stored in pressurized air i.e., compressed air. It has a wide range of applications such as vacuum packaging, dehydration, air blowing, tool powering, spray painting, cleaning, and medical equipment.
“Ken Research shares 3 key insights on this high opportunity market from its latest research study”
1. High Durability Compressor Needed for Drilling Operations to Drive Market Growth
The demand for crude oil and renewable resources has grown significantly due to a rise in the usage of machinery and equipment across several end-use industries and significant development in the industrial sector. Harnessing the oil with effective machinery and cutting-edge technology is now essential to meeting the world's needs. As a result, it is projected that the use of items that can survive harsh environments would increase demand for air compressors on a global scale.
According to Ken Research estimates, the Global Air Compressor Market –grew from ~US$ 25 billion in 2017 to ~US$ 30 billion in 2022 – is expected to grow further into a ~US$ 40 billion opportunity by 2028.
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2. Rising Demand for Eco-friendly Air Compressor Solution
The main factors that are likely to drive the air compressor market growth in the upcoming years are environmentally friendly compressor technologies, low maintenance, retrofitting of existing systems, efficient operation at lower costs, rising adoption of variable-speed systems, oil-free lubrication processes, and growth in the popularity of portable models. For instance, in the past 40 years, AF Compressors, a manufacturer of air compressors, has expanded its line of air compressors and improved technology for durability, low maintenance, and high energy efficiency. AF Compressors has continuously enhanced the effectiveness of its products to reduce energy usage.
3. Modern Compressors' High Installation Costs is Likely to Limit Market Growth
The initial purchase and installation costs of contemporary rotary screw compressors were significant. Increased costs may discourage buyers from purchasing these products. Furthermore, the deployment of knowledgeable and experienced operators is crucial for the system's efficient and trouble-free operation due to the increasing complexity of the design, installation, and operations.
To prevent issues like condensate development and rust deposits, the user must also maintain limited daily use of the compressors. The correct management of the complicated system and the regular repair of the compressor machine raise the costs associated with maintaining the operations, somewhat lowering their profitability. According to CostOwl.com, in December 2021, a 5 Horsepower (HP) industrial air compressor will typically cost between $1,500 and $5,000, a 25-HP compressor between $8,000 and $10,000, a 100-HP compressor between $20,000 and $35,000, and a 200 HP commercial air compressor up to $70,000 this high installation cost of air compressor is hampering the growth of the market
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Key Topics Covered in the Report
- Snapshot of Global Air Compressor Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Air Compressor Market
- Historic Growth of Overall Global Air Compressor Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of Global Air Compressor Industry
- Overview, Product Offerings, and Strength & Weakness of Key Competitors
- COVID-19 Impact on the Overall Global Air Compressor Market
- Future Market Forecast and Growth Rates of the Total Global Air Compressor Market and by Segments
- Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
- Analysis of Global Air Compressor in Major Regions
- Major Production/Supply and Consumption/Demand Hubs within Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Region
Notable Emerging Companies Mentioned in the Report
- Porter Cable
- Siemens
- Cook Compression
- AireTex Compressor
- Best Aire LLC
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Air Compressor Companies
- Air Compressor Manufacturers Association
- Industrial Machinery Research & Development Institutes
- Government Ministries and Departments of Engineering and Machinery
- Investment Banks targeting Industrial Machinery Sector
- Private Equity and Venture Capital Firms targeting Industrial Machinery Sector
- Components and Material Suppliers to Compressor Manufacturers
Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
For More Information on the Research Report, refer to below links: –
Global Air Compressor Market: Ken Research
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