The industrial air compressor market is a thriving sector that plays a crucial role in various industries worldwide.
Future Market Insights, an ESOMAR-certified consulting firm, forecasts a growth of more than 4.6% CAGR through 2021 in its report on the industrial air compressor market. Due to soaring demand from various end-use industries like oil & gas, automotive & transportation, and food & beverage, the market is predicted to grow rapidly.
The demand for industrial air compressors within the oil and gas industry is anticipated to experience steady growth over the forecast period as a result of rapid industrialization and rising investment in mechanical equipment.
The growth of the industrial air compressor market will be supported by the expansion of the oil and gas industry across numerous regions, including the United States, India, China, and the GCC nations. Sales of rotary type industrial air compressors will be boosted throughout the forecast by demand from a variety of end-use industries, including the oil and gas industry.
Increasing investment for the expansion of oil & gas industry across the Middle East & Africa region is giving a boost to the demand of the industrial air compressor market. Extensive application of industrial air compressor in oil & gas pipelines across India, China, Russia and others is creating wide growth opportunities for the leading market players.
Increasing focus in the investment for brownfield & greenfield projects, coupled with enhanced research & development activities for sustainable solutions are providing ample of opportunities for the market players. As per FMI's analysis, the industrial air compressor market will surpass the valuation of US$ 26.7 billion in 2021.
"Increasing need for sustainable and economical solutions for power generation within various end-use sectors such as food & beverage, oil & gas, and transportation are creating opportunities for expansion within the market," says the FMI analyst.
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Key Takeaways from FMI's Industrial Air Compressor Market Study
Competitive Landscape
According to FMI, the market is highly consolidated, in which leading players are accounted for over 75% of the market share. Key manufacturers are focusing on offering customized solutions to appropriate end-use industries. Product innovation and adoption of high-end technology are also the strategies adopted by some large-scale and mid-scale manufacturers.
Some of the key players profiled by Future Market Insights include:
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More Insights on the Global Industrial air compressor Market
In its latest report, FMI offers an unbiased analysis of the global industrial air compressor market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of:
By Technology
By Capacity
By Compression Stage
By Driver Type
End Use
Region
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 Inssights
Industrial Air Compressor Market , Industrial Air Compressor Market Size , Industrial Air Compressor Market Share
Jul 10, 2023
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