According to the World LPG Association (WLPGA) annual report 2017, annually LPG production across the world surpassed 300 million tonnes and grew by 5.75% in the year 2017. This statistic is reflective of the increasing consumption of LPGs worldwide and to accomplish this huge demand, air compressors play a major role in filling the gas cylinders which is ultimately delivered to the intended customers. Air compressors help convert the kinetic energy of several systems and machinery whereby it is enhancing their working. With a wide range of application in pneumatic and abrasive weeding systems, farming utilities, spray painting guns, jackhammers, and many others, the air compressor market is growing gradually. Owing to the large scale utility in the household work and industrial sector coupled with rising demand for air conditioners, the global air compressor market is experiencing a lucrative outcome which stood at $19.2 billion in the year 2018. With the growing trend of ready-to-eat meals, packaged foods are acquiring huge demand and are also prone to food adulteration at the levels of food distribution whereby necessitating safe air packaging. Vacuum packaging is widely used in food and beverage industry for providing an air-tight shield around the food product thereby enhancing its shelf life. Air compressors are imperative vacuum packaging requirements which also aids in safety seal applications. Consequently, the air compressor market opportunity is anticipated to grow at a CAGR of 4.28% driven by these factors during the forecast period of 2019-2025.
The Asia Pacific is one of the largest region with mounting air conditioners demand owing to the increasing population, economic diversification, growing domestic and commercial expenditure, and an upsurge in modern infrastructures. Additionally, APAC dominates the global air conditioning market with a regional share of 34% – 37% as of 2018 which resonates with the considerable rise in air compressor market demand in this region. These factors consistently drive the APAC air compressor market which is why it contributed a major portion of 31.86% share in the year 2018. The application segment of the manufacturing and energy industry is evaluated to increase at a notable CAGR of 6.78% through to 2025.
Air Compressor Market Growth Drivers:
· Rapid industrialization and high demand for portable air compressor are leveraging huge profit income hence majorly fueling the global air compressor market growth.
· Hike in demand for air conditioners for in-door, official, and commercial utility coupled with rising vacuum packaging market scope propels the air compressor market development.
Air Compressor Market Key Players:
The pioneering companies of the air compressor market includes Suzler Ltd., Atlas Copco AB, Sullivan-Palatek, Inc., Kirloskar Pneumatic Company Limited, Kobe Steel Ltd., Mitsubishi Heavy Industries, Ingersoll-Rand plc, Ebara Corporation, and many others.
Sullivan-Palatek is a leading manufacturer of compressed air products and delivers them to various end-user industries such as pharmaceutical, automotive, construction, drilling and mining, and many others. One of its efficient and advanced product is the portable air compressors which comes in different variant including D110PKU, D185 series, export compressors, and so on.
Air Compressor Market Trends:
· Portable and Sustainable Air Compressor System:
Innovation is the core of any industry to sustain in the long run and etching a benchmark in this competitive landscape. Conventional static and air compressors hindered the work accomplishment in farm lands and industrial fields and this situation is effectively overcome by Vert Rotors’ Nautilus, an innovative lightweight air compressor model achieves the same work force with comparatively less noise production.
Moreover, manufacturing eco-friendly machinery are the modern day necessity due to increasing pollution in the surrounding atmosphere. Atlas Copco’s E-air portable compressors offers solution to the rising environmental crisis with cutting edge solution such as minimal carbon dioxide emission. Additionally, being powered by electric motors and lithium batteries, they do not require fueling at regular intervals thereby reducing the diesel consumption.
Air Compressor Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Air Compressor market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of Air Compressor in Air Compressor market, and their specific applications in different areas.
Air Compressor Market: Industry Coverage:
The global air compressor market can be segmented into type, technology, lubrication type, and application. Bifurcation on the basis of type includes portable and stationary. Based on technology categorization includes reciprocating, rotary, and centrifugal. By lubrication type the air compressor market can be divided into oil lubricated, oil-free, and others. Application categorization includes semiconductors and electronics, food and beverage, healthcare, home appliances, energy, oil and gas, manufacturing, and so on.
The Air Compressor market also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
• North America: The U.S., Canada, Mexico
• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
• Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
• Middle East and Africa: Israel, South Africa, Saudi Arabia