NEW YORK, Oct. 12, 2016 /PRNewswire/ -- "The industrial air compressor market is projected to grow at a CAGR of 6.3% from 2016 to 2021"
The industrial air compressor market is projected to reach USD 34.87 billion by 2021, growing at a CAGR of 6.3% from 2016 to 2021. Industrial air compressors are used to increase pressure by converting power into potential energy, which is stored in pressurized air. This pressurized air is used to power pneumatic tools, to compress gas for transport, cutting & welding, packaging, cooling, and freezing, among others. Rapid industrialization in emerging economies, investments to improve cross border oil & gas pipeline networks, and increasing awareness about energy saving and efficiency are expected to drive the industrial air compressor market. Declining LNG imports in the U.S., Japan, and South Korea is a restraining factor for industrial compressors.
"The positive displacement industrial air compressors segment is expected to grow at the fastest CAGR from 2016 to 2021"Positive displacement compressors are further segmented in to reciprocating and rotary type compressors. Reciprocating compressors are among the oldest compressor technologies and are still being used in medium to large scale industries. These compressors come in all pressure ranges but are preferred for applications that require high pressure, due to high maintenance cost. Rotary compressors on the other hand have a limited pressure range and are used for a variety of applications in industries such as food & beverages, chemicals, textile, and power generation, among others. Due to versatility in application, the positive displacement compressor market is expected to have higher growth in the market.
"Asia-Pacific: The largest market for industrial air compressors"
Asia-Pacific is currently the largest market for industrial air compressors, closely followed by North America. The Asia-Pacific market is primarily driven by countries such as China, India, Australia, and Thailand, among others, where there is high demand for industrial air compressors. The market in this region is projected to grow at a high rate, with China expected to dominate the market.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 60%, Tier 2- 27%, Tier 3- 13%
By Designation: C-Level- 50%, D-Level- 30%, Others- 20%
By Region: North America- 20%, Europe- 20%, Asia-Pacific- 40%, Middle East- 15%, Latin America- 5%
Note: The tier of the companies has been defined on the basis of their total revenue, as of 2015: Tier 1 = >USD 10 billion, Tier 2 = From USD 1 billion to USD 10 billion, and Tier 3 =
The leading players in the industrial air compressor market include Atlas Copco AB (Sweden), Doosan Infracore Co. Ltd. (South Korea), Gardner Denver, Inc. (U.S.), Ingersoll-Rand plc (Ireland), and Hitachi Ltd (Japan).
Scope of the Report:
- By Product Type
The industrial air compressors market, based on product type, has been classified into positive displacement and dynamic. The positive displacement segment is further broken in to reciprocating compressors and rotary compressors, whereas dynamic compressors are segmented into centrifugal and axial compressors
- By Output Pressure
The industrial air compressors market based on output pressure is categorized in to 0-20 Bar, 20-100 Bar, and above 100 Bar
- By Maximum Power
The industrial air compressors market on the basis of maximum power is classified in to 0-50 kW, 50-250 kW, 250-500 kW, and above 500 kW
- By Seal Type
On the Basis of seal type, industrial air compressors are segmented into oil-immersed and oil free air compressors
- By End-User
The industrial air compressor market, based on end user, has been segmented into chemicals & petrochemicals, food & beverages, manufacturing, oil & gas, power generation, and others.
- By Region
The global industrial air compressor market analyses with respect to five regions, namely, North America, South America, Europe, Asia-Pacific, and Middle East & Africa.
Why buy this report?
1. The report identifies and addresses key markets for industrial air compressor market, which is useful for suppliers to review the growth in demand for the product.
2. The report helps solution providers to understand the pulse of the market and provides insights on drivers, restraints, and challenges.
3. The report will help key players to better understand the competition's strategies and will help in making strategic decisions.
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