SELBYVILLE, Del., Sept. 15, 2020 /PRNewswire/ -- Global Market Insights, Inc. has recently added a new report on the centrifugal air compressor market which estimates the market valuation for centrifugal air compressor will cross US$ 10 billion by 2026. Increasing penetration of packaged food & beverage products to promote industry expansion.
Growing demand for food & beverages across the globe is favoring product development. The key advantage of using a centrifugal compressor is that it removes all contamination through high pressurized air. Fermented product manufacturers including citric acid, wine, yogurt, etc., are potential end-users for radial products. The food & beverage sector is adopting centrifugal air compressors at a higher rate and this can be attributed to the growing number of refrigerated warehouses for storage.
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The stationary centrifugal air compressor market is projected to witness around 2% CAGR through 2026. The flourishing manufacturing sector across the globe will be a major factor behind the growth of stationary products. Rising demand for electronic products in countries including China, Japan, and South Korea, will enhance the segment penetration by 2026.
The horizontally split casing will witness significant growth owing to rising product demand from large-scale industries. These compressors majorly operate at a discharge pressure of up to 40 bar and are suitable for low-power applications. The product can be used in applications of healthcare, food & beverages, electronics, etc., where air purity is an important characteristic.
The manufacturing sector is poised to account for over 35% centrifugal air compressor market share. The major consumers include, automotive, aerospace, iron & steel plants, and chemical processing plants. Growing production of iron & steel due to increasing steel products consumption in construction & automotive sectors will boost compressor demand over the forecast period.
Healthcare industry will witness significant growth as it employs centrifugal air compressors for a wide range of applications. In medical and pharmaceutical industries, cleanliness is a critical factor in quality and performance of the products. The pharmaceutical manufacturing process often dictate the risk tolerance for any trace contaminates such as oil or moisture. Hence, it is necessary to minimize that risk and supply pure and contaminant-free air.
Browse key industry insights spread across 220 pages with 207 market data tables & 30 figures & charts from the report, "Centrifugal Air Compressor Market Share & Forecast, 2020 – 2026" in detail along with the table of contents:
North America led by the U.S. is expected to hold more than 15% centrifugal air compressor market share in 2026. The mature manufacturing sector in the region along with rising innovation in the electronics sector will drive product adoption. Additionally, increasing shale oil exploration activities in the U.S. will enhance demand for centrifugal air compressors in the coming years. The demand is majorly attributed to constant requirements for high-pressure air supply in oil refineries.
Some major findings of the centrifugal air compressor market report include:
- Technological advancements to fill the gap between customer expectations for compressed air equipment will enhance product demand.
- The stationary segment will lead to centrifugal air compressor demand from 2016 to 2026.
- The manufacturing sector to occupy a major portion and is attributed to growing requirements for high pressurized air.
- Strategic mergers and acquisitions along with technological advancements will drive the market share of industry leaders. Some of the key centrifugal air compressor industry players include Atlas Copco, Gardner Denver, Ingersoll Rand and Hitachi among others.
Browse complete report table of contents @ https://www.gminsights.com/toc/detail/centrifugal-air-compressor-market
Partial chapters of report table of contents (TOC):
Chapter 3 Centrifugal Air Compressor Market Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2016 - 2026
3.2.1 COVID-19 impact on industry size and forecast
3.3 Industry ecosystem analysis
3.3.1 Distributor channel analysis
3.3.2 Vendor matrix
3.3.3 COVID-19 impact on industry ecosystem
3.4 Industry impact forces
3.4.1 Growth drivers
188.8.131.52 High automotive industry growth in Asia Pacific and the U.S.
184.108.40.206 Rapid industrial growth in Asia Pacific
220.127.116.11 Technological developments in the field of centrifugal air compressor
3.4.2 Industry pitfalls & challenges
18.104.22.168 Strict regulations regarding centrifugal air compressor usage
22.214.171.124 Popularity of centrifugal air compressor rental services
3.5 Growth potential analysis, 2019
3.6 Regulatory trends
3.7 Porter's analysis
3.8 Competitive landscape, 2019
3.8.1 Strategy dashboard
3.9 PESTEL analysis
3.10 Regional price trends (including COVID-19 impact)
3.10.1 Cost structure analysis
Chapter 4 Centrifugal Air Compressor Market, By Product
4.1 Global centrifugal air compressor market share by product, 2019 & 2026
4.2.1 Market estimates & forecast, 2016-2026
4.2.2 Market estimates & forecast, by region 2016-2026
4.3.1 Market estimates & forecast, 2016-2026
4.3.2 Market estimates & forecast, by region 2016-2026
Browse related report:
Air Compressor Market Size By Product (Portable, Stationary), By Technology (Rotary [Screw, Scroll], Reciprocating, Centrifugal), By Lubrication (Oil Free, Oil Filled), By Application (Home Appliances, Food & Beverage, Oil & Gas, Energy, Commercial, Manufacturing, Healthcare [Medical, Dental]), Mining & Construction, Transportation), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026
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Centrifugal Air Compressor Market size worth over $10 Bn by 2026
Centrifugal Air Compressor Market revenue is predicted to exceed USD 10 billion by 2026, according to a new research report by Global Market Insights, Inc.
SOURCE Global Market Insights, Inc.