Market Synopsis
The data analysts at Market Research Future Reports (MRFR) have revealed that the global air compressor market is anticipated to exhibit a CAGR of 7.5% during the assessment period. The expeditious industrialization in the developing economy is the most crucial factor affecting the worldwide air compressor market 2020. Moreover, the continuous enlargement in the population across the globe has resulted in a surged income which propels the demand for several daily usage and comfort goods. The rise in disposable income is estimated to participate significantly in market expansion during the review period. Besides, the occurrence of energy-efficient models of portable air compressors is projected to augment the market. Moreover, with the advent of recent technology, there has been a substantial reduction in maintenance costs. However, the reluctance to adopt modern technology and the usage of conventional models is likely to impede the market growth. In addition, the concern related to lubrication is another factor hindering the market growth.
On the other hand, the spread of COVID-19 has resulted in standby in the daily operational activities of the worldwide air compressor market. The departments have been temporarily shut to restrain the spread of coronavirus. Precise research is being conducted on the aftermath of coronavirus on the global air compressor market. We will provide an impact analysis report on COVID-19.
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Market Segmentation
The worldwide air compressor market can be segmented on the grounds of lubrication, product, technology, end-use, and region.
On the grounds of lubrication, the worldwide air compressor market can be classified into oil-free and oil-filled.
On the grounds of the product, the worldwide air compressor market can be classified into portable and stationary.
On the grounds of technology, the worldwide air compressor market can be classified into centrifugal, rotary, and reciprocating.
On the grounds of end-use, the worldwide air compressor market can be classified into food and beverages industry, home appliances, manufacturing industry, oil & gas industry, energy industry, semiconductors & electronics industry, and healthcare industry.
On the grounds of the region, the global air compressor market can be classified into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
Regional Analysis
The global air compressor market is speculated to show prodigious expansion during the assessment period. Owing to the various end-use applications, and the growth in the utilization of air compressor, the market is predicted to magnify at a fast pace. The rigorous study of Europe, Asia-Pacific, North America, and the Rest of the World (RoW) has been performed. According to the evaluation, the APAC region is speculated to reign the global market. The APAC zone consists of the evolving economies like India, Japan, and China. APAC held the largest market share in 2016 is speculated to retain its position in the market. Moreover, the region is developing at a very fast pace due to the fast adoption of the latest technologies. On the flip side, Europe is predicted to pose as one of the most lucrative markets because of the implementation of advanced air compressor in the recently constructed home appliances.
However, the market dynamics have changed due to an outbreak of coronavirus.
Key Players
The renowned market competitors of the worldwide air compressor market are Sullivan-Palatek, Inc. (U.S.), Kaeser compressors S.E. (Germany), Sullair, L.L.C. (U.S.), Rolair Systems. (U.S.), Doosan Portable Power (U.S.), Atlas Copco AB (Sweden), Ingersoll Rand (U.S.), Gardner Denver (U.S.), Elgi Equipments Ltd. (India), Emerson Electric Co. (U.S.), Hitachi Industrial Equipment Systems Co., Ltd. (Japan), Bauer Compressors, Inc. (U.S.), and a few others.
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