SELBYVILLE, Del., April 13, 2020 /PRNewswire/ -- Global Market Insights, Inc. has recently added a new report on the air compressors market, which estimates the global market valuation for air compressors will cross US $107.56 billion by 2026. Surging demand from industrial refrigeration chillers, coupled with the growing prominence of the cold chain supply, will boost the industry's outlook.
Easy availability of compressors with multiple configurations that can provide a varied range of supply pressures is likely to augment the industry's growth. Compressors with other design features that reduce maintenance costs and have lower environmental hazards have also gained popularity in recent years. The development of high-capacity, portable air compressors that can provide better performance and versatility will also impact market development.
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Heavy-duty centrifugal air compressors are used in application areas that require high air pressure and power output capacities. These include oil & gas, manufacturing, energy, construction, mining, etc. These machines are high priced, owing to their manufacturing and operational complexities, bulky nature, and higher efficiencies. Increasing investments targeted towards the development of construction and mining activities will further provide a positive outlook for the industry size.
Changing consumer buying patterns, coupled with rising demand for packaged and perishable food items, will escalate the food & beverages segment over the forecast timeframe. The food & beverage segment is likely to experience maximum gains of over 6% CAGR. Refrigerant compressors are installed in cold storage areas and warehouses for maintaining and preserving the food items. Moreover, the expansion of regional food processing plants and warehouses will significantly augment the product demand.
Latin America will witness a growth rate of 3.4% CAGR from 2020 to 2026. Expansion in manufacturing industries in this region due to cost-effective labor, easy availability of raw materials, and abundance of land will drive the regional market demand over the projected timeframe. Increasing product utilization in the manufacturing processes of industrial good & machinery and for power tools clamps, air chucks, monitoring equipment will positively influence the industry size. Government regional initiatives and plans for supporting the expansion of industrial hubs and manufacturing units will further propel the product demand.
Browse key industry insights spread across 326 pages with 264 market data tables, 31 figures and charts from the report, "Air Compressor Market Share & Forecast, 2020 – 2026", in detail, along with the table of contents:
Some major findings of the air compressors market report include:
- Surging infrastructural development, along with the growing construction of energy-efficient green buildings, will escalate the product demand in cooling appliances.
- Cloud-based monitoring services are providing potential opportunities for efficient service and troubleshooting options for air compressors.
- Growing consumer awareness towards the adoption of fuel-efficient vehicles will provide a positive outlook.
- Countries including China, Vietnam, Thailand and Indonesia are undertaking air-conditioning manufacturing line conversion projects for implementation of the Montreal Protocol.
- Multistage air compressors are gaining higher visibility in the industrial sector, owing to their higher air pressure and capacity demand.
- Industry participants are striving to deliver energy-efficient air compressors through focused R&D approaches.
Major players in the air compressors market share include Emerson, Sullair LLC, Gardner Denver, Inc., Kaeser Kompressoren SE, Ingersoll-Rand plc, Atlas Copco, GMCC, Cummins and others.
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Partial chapters of the report's table of contents (TOC):
Chapter 2. Executive Summary
2.1. Air compressors industry 360⁰ synopsis, 2016 - 2026
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Technology trends
2.1.4. Lubrication trends
2.1.5. Application trends
2.1.6. Regional trends
Chapter 3. Air Compressors Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 - 2026
3.3. Industry ecosystem analysis
3.3.1. Distribution channel analysis
3.3.2. Vendor matrix
3.4. Regulatory landscape
3.5. Industry impact forces
3.5.1. Growth drivers
184.108.40.206. Proliferating growth in household appliances market
220.127.116.11. Surging automobile production
18.104.22.168. Technological advancements in air compressors
22.214.171.124. Expansion of cold storage facilities
126.96.36.199. Proliferating cold chain logistics industry
3.5.2. Industry pitfalls & challenges
188.8.131.52. Stringent regulations for utilization of air compressors
184.108.40.206. Growing popularity of rental services
3.6. Impact of COVID-19 on air compressor supply chain and production
3.7. Refrigerated warehouse capacity and market development index, by country
3.8. Import & export statistics of RAC compressors, 2017
3.9. Manufacturing capacity outlook
3.10. Technology landscape
3.11. Pricing analysis
3.11.1. Cost structure analysis
3.12. Innovation and sustainability
3.13. Growth potential analysis
3.14. Porter's analysis
3.15. Competitive landscape, 2019
3.15.1. Company market share analysis, 2019
3.15.2. Key stakeholders
3.15.3. Strategy dashboard
3.16. PESTEL analysis
Browse reports complete table of contents (ToC): https://www.gminsights.com/toc/detail/air-compressor-market
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Air Compressors Market size worth over $107.5 bn by 2026
Air Compressors Market size is poised to surpass USD 107.5 billion by 2026; according to a new research report by Global Market Insights, Inc.
SOURCE Global Market Insights, Inc.