LONDON, Aug. 4, 2016 /PRNewswire/ -- "The air starter market is projected to grow at a CAGR of 3.8% from 2016 to 2021"
The air starter market is projected to reach USD 397.0 million by 2021, at a CAGR of 3.8% from 2016 to 2021. Rising demand for compact explosion-proof ATEX-approved engine starting devices in major end-use industries such as oil & gas, aviation, and mining in regions, such as North America and Europe, are driving the market growth. Air starters are employed for engine starting in almost all major industries, including oil & gas, aviation, mining, and marine. Given the growing demand for compact and efficient engine-starting devices in these industries, the demand for air starters is set to increase in the coming years but at a gradual growth rate.
"Aviation industry to grow at the fastest rate in the global air starter market"
With regard to industrial end-user, the aviation industry is the fastest growing segment. Rise in global air traffic and investments in civil and military aviation are the major driving factors. Moreover, rising urbanization and increasing pressure existing in the aviation infrastructure have led to growing investments in the civil & military aviation industry across the globe.
"North America is the fastest growing regional market for air starters"
The North American region has the highest adoption of air starters and it is the largest market for air starters. The U.S. is the key contributor to the growth of the air starter market in North America. The region has witnessed rising demand for air starters; this trend is expected to continue in the future since activities in major end-user industries are growing. The increasing demand for compact engine-starting devices coupled with compatibility to explosive and potentially hazardous environments would likely to boost the demand for air starters in the region.
Breakdown of Primaries:
By Company Type: Tier 1–30%, Tier 2–30%, and Tier 3–40%
By Designation: D-Level–35%, C-Level–10%, and Others–55%
By Region: North America–23%, Europe–22%, Asia-Pacific–33%, South America-11%, and the Middle East & Africa–11%
Note: *Others includes business development managers, marketing managers, product managers, design engineers, and sales engineers
The tier of the companies has been defined on the basis of their total revenue as of 2014: Tier 1 = >USD 30 million, Tier 2 = From USD 1 million to USD 29 million, and Tier 3 =
Major players in the market include Ingersoll Rand (U.S.), Maradyne Corporation (U.S.), Tech Development (TDI) (U.S.), Gali Internacional (Spain), Air Starter Components, Inc., (ASC) (U.S.), and KH Equipment Pty Ltd. (Australia). Other players operating in the market include Shin Hueng Precision Co., Ltd. (Korea), Powerworks (Pty) Ltd. (South Africa), Miller Air Starter Company Co. (U.S.), Multi Torque Industries (Australia), and Industrial Power Units Ltd. (IPU GROUP) (U.K.).
Reasons to buy this report
This research report focuses on various levels of analysis—industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the air starter market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights about the following points:
- Market Penetration: Comprehensive information on air starter products offered by top players in the global air starter market
- Product Development/Innovation: Detailed insights into upcoming technologies, R&D activities, and new product launches in the air starter market
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the air starter market across regions
- Market Diversification: Exhaustive information about new products, untapped regional markets, recent developments, and investments in the global air starter market
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading players in the global air starter market
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