The global industrial air compressor market is expected to be valued at US$ 33.3Billion in 2022.
With the increasing use in end-use industries the demand for industrial air compressors is projected to grow at a CAGR of 3.8% between 2022 and 2032, totaling around US$46.6 Billion by 2032. The global industrial air compressor market is expected to be valued at US$ 33.3Billion in 2022.
Industrial air compressor producers are putting a lot of effort into creating digitally controlled systems, like automated and digitalized compression solutions. It is anticipated that this will increase the demand for industrial air compressors.
Additionally, the oil and gas industry’s expanding demand will continue to be a major growth driver. During the forecast period, the oil and gas, automotive, and transportation industries will account for the majority of market sales, according to the report. As these industries expand, attractive opportunities for growth will emerge in the near future.
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Key Takeaways from the Industrial Air Compressor Market Study
“The main catalyst behind the growing popularity of air compressors is the innovation that goes into newer models in the market. In economic downturns, sales of air compressors are less likely to witness significant gains in some of the world’s more developed markets. Nonetheless, the technology will always have thriving markets as long as there are developing countries are eager to compete with the industrialized world.” says a Future Market Insights analyst.
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The industrial air compressor market is expected to be a high-opportunity market in the forecast period owing to increasing demand from various manufacturing and production industries as well as investments in oil & gas and power generation sectors, which are expected to drive the demand through the forecast period. Moreover, manufacturers are emphasizing on developing digitalized and customized products as per customer demands along with improved technology, life cycle, higher efficiency and less maintenance cost. These factors are expected to positively influence growth in demand for Industrial air compressors during the forecast period.
Key Segments Covered In The Industrial Air Compressor Industry Analysis
Industrial Air Compressor Market by Technology:
Industrial Air Compressor Market by Capacity:
Industrial Air Compressor Market by Compression Stage:
Industrial Air Compressor Market by Driver Type:
Industrial Air Compressor Market by End-Use:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Future Market Insights Inc.
Industrial Air Compressor Market Demand , Industrial Air Compressor Market Forecast , Industrial Air Compressor Market Analysis
Business ,
Jan 04, 2023
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