HVAC and Construction

Germany construction equipment rental market to exhibit a substantial growth rate over 2016-2024, high demand from the residential sector to spur the regional demand

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With the rising number of construction activities and the subsequent requirement for heavy machinery, construction equipment rental market is set to grow at a remarkable pace. Rental facilities help end-use sectors operate new and advanced machinery at an affordable price. In addition, the changing trends of the construction and industrial sectors regarding technologically advanced machinery will provide business opportunities to leading companies, thereby boosting construction equipment rental market.The globe is also witnessing a steady rise in the number of infrastructure renovation activities in various civil sectors, which will augment construction equipment rental industry considerably. According to Global Market Insights, Inc., “Worldwide Construction Equipment Rental Market collected a revenue of USD 34 billion in 2015 and will record an annual growth rate of 9.1% over the coming years of 2016 to 2024.”

U.S. Construction Equipment Rental Market size, by product, 2013-2024 (USD Billion)
U.S. Construction Equipment Rental Market size, by product, 2013-2024 (USD Billion)

Of late, rental agencies offer varied equipment incorporated with advanced features such as ergonomic controls, remote monitoring, GPS system, and quick change linkage. GPS equipped machinery helps to enhance vehicle performance and management. Rental equipment suppliers are focusing on customer satisfaction to attract a wider range of consumers by providing on-time delivery, high product quality, scheduled pick-ups, and enhanced response time, which in turn, will stimulate construction equipment rental industry size considerably.

Based on the product trends, construction equipment rental market is mainly divided into material handling machinery, earthmoving machinery, and concrete & road construction. Surging investment in infrastructure development such as road, dams, and power plants will augment the product demand. Concrete & road construction equipment rental market generated a revenue of USD 10 billion in 2015 and will exhibit a significant growth rate over the coming seven years.

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Earthmoving machinery occupied 55% of the global revenue industry share in 2015 and is anticipated to witness an annual growth rate of more than 9% over the period of 2016 to 2024. The growth can be attributed to the escalating requirement of this product to carry out heavy construction work. Material handling will be another lucrative product segment of construction equipment rental industry. As per statistics, material handling product segment will record a CAGR of 9.9% over the years ahead. Shifting trends toward automation will augment the industry growth notably.

Geographically, Europe construction equipment rental market is predicted to generate significant revenue over the years ahead. Availability of new technologically advanced machinery as well as multifunctional models will augment the industry growth. Germany construction equipment rental industry will register an annual growth rate of more than 6.5% over the coming years of 2016 to 2024. The growth can be attributed to the surging construction activities across the residential sector. Moreover, the implementation of supportive rules and regulations along with increasing energy costs will attribute the product demand.

U.S. construction equipment rental market will surpass a revenue collection of USD 23 billion by 2024, owing to the availability of technologically enhanced equipment coupled with growing concerns regarding safety and security.

In Asia Pacific, China construction equipment rental market collected a revenue of USD 3 billion in 2015 and is anticipated to exhibit substantial growth over the coming seven years. The rapid commercialization and urbanization across China coupled with favorable government support and an ever-growing population will generate lucrative avenues for the business over the coming timeframe. The need for privatization in the construction sector will also augment the growth of construction equipment rental market.

The business growth strategies adopted by the market players include strategic mergers & acquisitions and partnerships. The key participants in construction equipment rental market are Sunbelt Rentals, United Rentals, Neff Rental LLC., The Hertz Corporation, Ahern Rentals, Terex Corporation, Gemini Equipment, Maxim Crane Works, Weldex International Offshore Ltd, and Komatsu Limited.

Author Name :Sunil Hebbalkar

APAC ceramic tiles market to witness highest gains over 2016-2024, expanding construction sector to drive the regional demand

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The tremendous increase in the construction activities across the globe is the prime factor fueling the growth of ceramic tiles market. Owing to the rapid urbanization, the demand and sales of the ceramic tiles is increasing significantly around the world. The global market for ceramic tiles was valued over USD 76.80 billion in 2015 and is poised to reach USD 178.16 billion by 2024, according to a report by Global Market Insights, Inc. As per statistics, China’s construction industry was the largest in the world, with construction expenditure recorded over USD 1.7 trillion. As the construction sector is witnessing a major upswing in Asia Pacific region, the regional ceramic tiles market is likely to grab some colossal takes over the years. Estimates suggest that Ceramic Tiles market will record an annual growth rate of 9.8% over the period of 2016-2024.

U.S Ceramic Tiles Market share, by application, 2013-2024 (USD Million)

U.S Ceramic Tiles Market share, by application, 2013-2024 (USD Million)

Asia Pacific ceramic tiles industry is anticipated to witness highest gains of over 10% CAGR from 2016-2024. Rise in infrastructural spending in the emerging economies including India, South Korea, and Japan will primarily drive ceramic tiles market in the region. Additionally, the growing trends of metal slabs, marble floors, and replacing paints and home decorative products will further propel the product demand in the region.

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The factors like ease of maintenance, good thermal & shock resistance, and durability of ceramic titles is expected to provide a substantial push to this industry. The deployment of ceramics tiles is expected to increase in residential buildings, laboratories, hospitals, and commercial buildings. The residential ceramic tiles industry share was worth USD 36 billion in 2015, owing to the rising renovation and rebuilding projects for enhanced flooring and wall appearance. Moreover, the mounting trend of providing beautiful and eye-catching aesthetic look in shopping malls, airports, offices, etc. has stimulated the commercial applications of ceramic tiles market.

The recent advent of ceramic tiles with stain and germ resistant features is also likely to enhance the market demand of the product. Moreover, the expanding flooring market is poised to provide a notable impetus to the ceramic tiles industry over the coming seven years. As ceramic tiles are one of the most widely used products in flooring application of residential & commercial buildings, the market is ought to exhibit commendable gains in the coming years. The floor ceramic tile market share is anticipated to go up at the fastest rate by 2024, as these can be used as substitutes for marble, paints, and other similar products.

Ceramic wall tiles, being another pivotal product segment, is expected to seize major ceramic tiles industry share. The market is likely to observe gains at over 9.5% CAGR over the period of 2016-2024, owing to its wide preference in kitchen walls. These ceramic walls are available in wide range of colors, designs, and patterns. These walls are also embedded with the properties including resistant to heat and sunlight, and ease of cleaning which has resulted in a larger product demand.

Furthermore, rise in remodeling projects and robust commercial construction projects comprising offices and sports courts in U.S. has significantly propelled the ceramic tiles industry in the region.  The North America ceramic tiles market worth over USD 1.4 billion in 2015 is set to showcase remarkable growth prospects in the years ahead.

Some of the renowned players accumulating a major market chunk of the overall market include Mohawk Industries, Lamosa Grupo, Kajaria Ceramics, Siam Cement Group, Florida Tile, Crossville, and China Ceramics.

Author Name :Ojaswita Kutepatil

Asia Pacific commercial refrigeration equipment industry to register the highest growth rate over 2016-2024, China to stimulate the regional demand

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Commercial refrigeration equipment market is widening its horizon with the surging global demand for safer and sustainable food preservation techniques. Along with the provision of cooling at diverse storage conditions, these equipment manufacturers are also focused on minimizing the harmful environment impact of the refrigerants, which puts the market on a higher edge. Mandatory rollouts, especially across developed nations, for banning fluorocarbon based refrigeration that in turn leads to ozone depletion, is expected to further augment the market demand. Estimate depicts air conditioner and refrigerators to together account for one-fifth of the overall energy consumption which is huge and is anticipated to result in an energy crisis in near future. In this scenario, growing demand for high energy efficient technologies is indeed providing lucrative opportunities to commercial refrigeration equipment industry in the global business space. For instance, magnetic refrigeration system has resulted in a saving of 30% of the overall energy consumption. As per Global Market Insights, Inc., “Commercial refrigeration equipment market is forecast  to hit a revenue record of USD 47.75 billion by 2023.”

Germany commercial refrigeration equipment market size, by application, 2012 – 2023 (USD Million)

Germany commercial refrigeration equipment market size, by application, 2012 - 2023 (USD Million)

Substantial growth in the retail sector along with increasing penetration of food related service chains are leaving a direct impact on the overall commercial refrigeration equipment market dynamics. A paradigm shift in the global food consumption trend fueled by the rising disposable incomes of the consumers has led to an escalation in frozen food demand. Huge capitalization related to food services along with increasing deployment of these devices for horticulture, seafood, and other processed food items is expected to elevate commercial refrigeration equipment industry growth. Furthermore, a subsequent development in the international trade of frozen food items is also projecting a favorable market outlook.

Considering the geographical aspect, Asia Pacific is poised to mark a strong footprint in global commercial refrigeration equipment market over the coming six years. The ever-increasing middle-class population of China along with large number of fast food chain across this belt is positively influencing the regional market dynamics. APAC commercial refrigeration equipment industry is estimated to record maximum growth rate in the years ahead, with a revenue record of USD 14.5 billion by 2023.

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Commercial refrigeration equipment market is primarily driven by processed food and beverage sector. Since food and beverage market has observed tremendous development in recent years, it is expected to leave a direct impact on the overall industry share. A significant increase in the number of fast food outlets around the world along with rising frozen food consumption slates for the tremendous growth that the market is anticipated to witness in the coming years. Food service sector is expected to dominate the application landscape of global commercial refrigeration equipment industry, with a projected revenue collection over USD 15 billion by 2023. Certain segments like ice creams, soft drinks, seafood, branded dairy products and other packaged food production have grown sharply. The industry is undergoing an evolution with the emergence of supermarkets, shopping malls, departmental stores selling all kinds of packaged food items. These have resulted in an increase in deployment of hi-tech advanced refrigeration equipment that efficiently monitors the overall refrigeration leak, system pressure, and liquid level. Commercial refrigeration equipment market from food and beverage production is poised to grow substantially at a CAGR of 6.6% over 2016-2023.

U.S is one of the major regions projected to experience significant growth based on food and beverage production ground. Upgraded production services which include improvised materials, microprocessor-based controller, smart defrost system etc. along with appreciable demographic trends is driving U.S commercial refrigeration equipment market. In addition to this, regional players’ effort of reducing the labor costs by transiting the production facilities overseas will also complement the market outlook.

Fluctuating crude oil price rate is expected to challenge the commercial refrigeration equipment industry price trends, especially in refrigeration transportation sector. However, development of zero emission technology in order to mitigate the environmental issues will keep commercial refrigeration equipment market demand high. Key players of the market are engaging themselves in research activities to incorporate the technical advancements in the product design for enhancing the portfolio. Some small-scale companies are collaborating with big banners to sustain in the competitive market. Prominent commercial refrigeration equipment industry players include Johnson Controls, Carrier Corporation, Daikin, and Dover Corporation.

Author Name :Satarupa De

China civil engineering market to register substantially high gains over 2016-2025, surging demand from industrial infrastructure applications to spur the regional growth

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Increasing investments in infrastructural developments across the globe will boost civil engineering market significantly. With digitization conquering the global industrial landscape, the development of smart cities is on an incline, which will also provide a positive impetus to civil engineering market. The infrastructure of a country is largely responsible for its overall progress, subject to which the governments of various countries have been investing heavily in the construction sector and infrastructural development. The rapid industrialization, urbanization, rise in population, and the government norms regarding sustainable construction will be key factors propelling civil engineering market. According to Global Market Insights, “Civil Engineering market was worth USD 7990 billion in 2015 and is slated grow at an annual growth rate of more than 3.5% over the coming years of 2016 to 2025.

Europe Civil Engineering Market size, by application, 2013-2025 (USD Billion)
Europe Civil Engineering Market size, by application, 2013-2025 (USD Billion)

Prominent customer groups of civil engineering market include private businesses and government purchase. Civil engineering market from private business customer group is predicted to register an annual growth rate of 4.1% over the coming years of 2016 to 2025. Escalating investments in the housing sector to provide shelter to the ever-growing population base will favor the business growth. Supportive government policies regarding infrastructure development will also augment civil engineering market expansion.

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Taking into account the application landscape, civil engineering market is mainly divided into industrial infrastructure, energy, transport, and residential buildings. Industrial infrastructure application segment will exhibit considerable growth rate over the coming timeframe. Surging investment by the government for the development of roads, bridges, and dams will influence the product demand noticeably. In addition, rising infrastructure development across various sectors such as automotive, nuclear, leisure & hospitality, and food & beverages will propel civil engineering industry share.

Transportation application landscape will grow at an annual growth rate of more than 2% over the coming eight years. Significant investment by the government in road transport facilities will generate flourishing growth prospects for the product. The residential sector is also another lucrative application segment that is expected to register fairly substantial gains over 2016-2025.

Government purchase customer group segment collected a revenue of more than USD 4080 billion in 2015 and will register significant CAGR over the coming timeframe, owing to the increasing number of civil facilities and the pressure to develop high quality infrastructure.

Considering the geographical trends, U.S. civil engineering market will collect a revenue of USD 1830 billion by 2025. The escalating investments in industrial infrastructure, commercial, and residential sectors across this region will augment the industry growth. Furthermore, the government has been implementing numerous legislations pertaining to energy conservation, which will also influence the industry share noticeably.

Russia civil engineering industry will register CAGR of more than 2.5% over the coming eight years. The presence of a huge industrial base of mining, metallurgical, and oil & gas sector will fuel the requirement of civil engineering on large scale.

China civil engineering market size, worth more than US 3400 billion revenue in 2015, will exhibit a noticeable growth rate over the years ahead. Strong initiation taken by the government to develop infrastructure in the various sectors such as road & transport, power plants, and commercial buildings will augment the industry outlook.

The noteworthy participants in this market are US Army Corps of Engineers, Foster Wheeler, Galfar Engineering & Contracting SAOG, HDR, Inc., URS Corporation, CH2M Hill, Jacobs Engineering Group, AECOM Technology, SNC-Lavalin, Fluor Corporation, and Kentz.

Author Name :Sunil Hebbalkar

Asia Pacific air filtration market to exhibit a lucrative CAGR via power applications over 2016-2023, China to lead the regional landscape

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Asia Pacific air filtration market growth is characterized by the necessity to conserve energy and increase engine efficiency by means of enhancing the existing emission control systems. Air filters basically help filter out the impurities in the air, including, but not limited to pollen, bacteria, dust, and mold. Combined with a catalyst, air filters help absorb pollutants and odors from the atmosphere as well. Their extensive utilization in numerous applications such as cement, pharmaceuticals, food, and power generation sectors will stimulate Asia Pacific air filtration industry, given that the region is touted to have enormous growth prospects in the aforementioned application domains. Growing environmental awareness, the need to conserve energy on a large scale, and rapid industrialization and urbanization will fuel Asia Pacific Air Filtration Market size, slated to cross a revenue of USD 6.6 billion by 2023, with a CAGR projection of 8.6% over 2016-2023.

China Automotive Air Filtration Market size, by product, 2013-2023 (USD Million)
China Automotive Air Filtration Market size, by product, 2013-2023 (USD Million)

Companies operating in Asia Pacific air filtration industry are vertically integrated and have been focusing on growth strategies such as product differentiation and mergers & acquisitions. An instance of the latter would be the 2014 acquisition of Vokes Air by Mann+Hummel from The Riverside Company. The year 2015 witnessed the same company acquiring the prestigious Affinia Group. Major companies in Asia Pacific air filtration market include Cummins, Purafil, ACDelco, Mann+Hummel, Denso, Clarcor, Mahle, K&N Engineering, Donaldson, Sogefi Group, Camfil Group, Nederman, and W.L. Gore & Associates.

Recently, K&N Engineering featured their new range of innovative air filters embedded with superior efficiency and capacity for off-road conditions, at the 2017 UTV World Championship. In March 2017, even the Audi Customer Sports Racing Australia deployed K&N air filters for their R8 GT3 fleet. Such recurrent efforts by industry players will positively impact Asia Pacific air filtration industry.

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Industrial products contributed to more than 27% of Asia Pacific air filtration market revenue in 2015, subject to the high demand of air filters in the medical sector and laboratories. The sub-products of industrial filters, such as dust collectors, baghouse filters, cartridge collectors & filters, mist collectors, and HEPA filters, are also extensively used across the cement, metal, and power sectors, to absorb dust, moisture, pollutants, and allergens, owing to which Asia Pacific air filtration industry from industrial products is expected to register a CAGR of 9.5% over 2016-2023.

Mist collectors, a vital product of Asia Pacific air filtration market, have numerous applications in metal processing and the food & beverage sectors. Subject to this factor, Asia Pacific air filtration mist collectors market will grow significantly over the next few years.

Dust collectors, another key industrial product, is highly capable of removing dust from heavy industrial operations and requires minimal maintenance, subject to which Asia Pacific air filtration dust collectors industry will witness a significant growth rate over 2016-2023.

Air filters are extensively deployed in electricity generation units, owing to which Asia Pacific air filtration market from power applications will record an annual growth rate of 9.7% over 2016-2023.

Automotive products held more than 55% of Asia Pacific air filtration industry share in 2015. These products primarily encompass cabin and intake filters, which absorb dust, debris, and other solid particulates that pose a harm to auto cylinders and pistons. In addition, they preserve the air-fuel mixture, helping the engine to function efficiently, minimize ignition problems, aiding limited fuel consumption, and improve emission control systems, thereby reducing emissions. The aforementioned benefits will stimulate the product demand, propelling Asia Pacific automotive air filtration market, set to grow at a CAGR of 8% over 2016-2023. These filters also need to be replaced occasionally, which will further spur the product demand. The rising requirement of cabin filters in electric vehicles will fuel Asia Pacific air filtration market from automotive products.

China being one of the most lucrative avenues for the automotive and industrial sectors, will witness high demand for air filters. Asia Pacific air filtration industry from China is estimated to grow at a CAGR of 9% over 2016-2023, driven by the rise in the number of automobiles and the prevalence of an enormous number of power and cement industries in the region. Pertaining to strict government regulations regarding vehicular emissions and the rapid industrialization, China is expected to lead Asia Pacific air filtration market over the years to come. The heavy growth of automotive aftermarket in India and China will also spur the regional industry.

Air filters are prominently used in research facilities, laboratories, hospitals, power generation units, fuel processing sectors, and waste management to help get rid of pollutants, pollens, dust, debris, mist, oil droplets, abrasion particles, contaminants, and other coarse particulates, thereby driving Asia Pacific air filtration market. The rising need to optimize energy consumption, reduce vehicle emissions, conserve energy, and reduce environmental pollution will impel Asia Pacific air filtration industry over 2016-2023. To achieve 100% efficiency and dirt absorption, companies are now manufacturing efficient industrial filters with safety mechanisms and advanced features that will aid in completely eradicating pollutants from the atmosphere.

Author Name :Saipriya Iyer

North America insulated concrete form industry to experience high growth prospects over 2016-2024, surging requirement from residential applications to spur the regional demand

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Insulated Concrete Form Market size is expected to rise prominently, driven by escalating demand for green construction across the residential and commercial sectors. The ability of the product to provide material strength, sound absorption, high indoor air quality, fire protection, energy efficiency, and ecological sensitivity to the buildings will generate profitable avenues for the business. Manufacturers have recognized the importance of minimizing operating costs, which will play a crucial role in shaping the industry trends in the next few years. The Federal and State governments are also contributing toward the business expansion. For instance, the European Union has introduced new building codes to be agreed upon by the construction sector. Even the U.S. government has implemented energy conservation programs. These initiatives are sure to leverage the business expansion. As per Global Market Insights, Inc., “Insulated concrete form industry, which collected the revenue of USD 470 million in 2015, is set to surpass USD 970 million by 2024.

U.S. Insulated Concrete Form Market size, by application, 2013-2024 (USD Million)

U.S. Insulated Concrete Form Market size, by application, 2013-2024 (USD Million)

 

The worldwide construction sector is expected to hit USD 15 trillion by 2030, with the U.S., India, and China contributing nearly 57% towards the overall construction spending. APAC is predicted to make notable contributions toward the global construction sector, which in turn will stimulate the development of insulated concrete form market. Asia Pacific insulated concrete form market is likely to make notable gains of over 10% during the period from 2016 to 2024. The growth can also be attributed to high consumer inclination towards the usage of PU foam based insulated concrete form across the construction sector. PU foam based insulated concrete form market contributed over USD 15 million to the APAC industry revenue in 2015.  India, China, Japan, and Australia were the major regional revenue pockets.

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North America insulated concrete form industry is anticipated to expand remarkably over the years ahead, subject to growing consumer preference toward green buildings. U.S. insulated concrete form industry from the residential sector was worth USD 100 million in 2015, is likely to drive the regional growth over the coming years. Insulated concrete form market in Europe is expected to witness a high surge in the future, having attained a revenue of more than USD 120 million in 2015.

Insulated concrete forms also find extensive applications across the infrastructure and industrial sectors. Industrial applications are expected to grow at a CAGR of more than 10% over 2016-2024, driven by strict government rules favoring infrastructural development along with increased funding for commercial construction projects. Residential applications, which accounted for more than 55% of insulated concrete form market share, are forecast to gain a sizable revenue over the coming seven years. Nearly 80% of insulated concrete forms find applications across residential sectors – ICF market from residential applications are slated to reach a targeted revenue margin of USD 500 million by 2024.

Cellular concrete, polyester foams, cement bonded polystyrene beads, polyurethane foams, and cement bonded wood fibers are some of the major products of insulated concrete form market.

Polystyrene foams, which accumulated USD 300 million in 2015, are expected to make significant contributions toward insulated concrete form market revenue over the span of few years. Favorable product characteristics such as longevity and fire & heat resistance are expected to drive the business landscape.

Polyurethane foam industry, which accrued a revenue of more than USD 100 million in 2015, is expected to contribute remarkably toward insulated concrete form industry share in future. Growing product popularity across ICF constructions is expected to drive the revenue.

Manufacturers will try to acquire maximum share in this highly competitive insulated concrete form market through product differentiation, mergers & acquisitions, and new product launches. Quad-Lock Building Systems Limited, Airlite, Logix Insulated Concrete Forms Limited, IntegraSpec ICF, Nudura Corporation, Superform Products Limited, Plasti-Fab Incorporation, and BuildBlock Building Systems are the major players of insulated concrete form industry.

Author Name :Dhananjay Punekar

Portable oil-free air compressor market to experience massive growth over 2016- 2023, APAC to register highest gains

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Oil-free air compressor market is generating a remarkable momentum in the global industry landscape with the escalating demand for energy efficient devices. High performance, ease of handling, and low cost of maintenance are few of the beneficial features creating a commendable demand for these compressors worldwide. Both the private and the government bodies are effectively taking measures to curtail the operation cost. In response to this fact, the oil-free air compressor industry is certain to witness an appreciable growth in the years ahead on account of its cost-effective operational procedure. Global Market Insights, Inc. estimates oil-free air compressor industry to reach USD 13.9 billion by 2023, having had a worth of USD 10 billion in 2015.

Germany oil-free air compressor market size, by technology, 2012-2023 (USD Million)

Germany oil-free air compressor market size, by technology, 2012-2023 (USD Billion)

Rising preference for exceptional air quality and reliability is projected to further boost oil-free air compressor industry potential over the next few years. Growing focus of established players to manufacture eco-friendly products to augment their consumer base will create lucrative prospects for the business expansion.

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Oil-free air compressors find wide applications across manufacturing, semiconductor & electronics, food & beverages, healthcare, home appliances, and oil & gas sectors. Manufacturing application is anticipated to be evaluated at USD 4.6 billion by 2023. Oil & gas sector, which shared over 20% of oil-free air compressor market demand in 2015, is slated to register a CAGR of 3.9% over the period of 2016-2023. High product preference to encourage efficient functioning of older equipment along with greater need for avoiding oil contamination will drive the business expansion.

Healthcare sector, worth USD 910 million in 2015, is set to grow at a rate of 5.1% during the period from 2016 to 2023. It is expected to contribute significantly towards oil-free air compressor industry share, owing to the equipment ability to successfully handle issues related to tablet safety and aseptic applications. High device application in food cooling & packaging is forecast to considerably boost oil-free air compressor market size in food & beverage sector.

Portable and Stationary are the main types of oil-free air compressors.  Portable oil-free air compressor market is set to hit USD 5.5 billion by 2023, registering substantial gains of 4.5% over the period of 2016-2023. The development can be attributed to strict norms towards reducing   energy usage along with leap in consumer awareness about energy preservation.

Oil-free air compressors makes use of centrifugal, rotary, and reciprocating technologies. Rotary oil-free air compressor industry is forecast to record a cumulative growth of 4% annually over the coming six years.  Burgeoning use of the technology across various sectors can be credited to its beneficial features such as compact size, low mass, less initial cost, and user convenience.

Reciprocating oil-free air compressor market size, worth USD 2.22 billion in 2015, is foreseen to hit USD 2.9 billion by 2023. It is anticipated to grow at a rate of 3.8% over the coming timeframe.

Considering the geographical trends, North America oil-free air compressor industry, which accrued a revenue of USD 2.1 billion in 2015, is predicted to expand notably in future.  Increasing credibility of environment-friendly portable equipment will augment the regional development. The U.S., whose revenue was assessed at USD 1.68 billion in 2015, is likely to be a major regional revenue contributor.

Europe oil-free air compressor market is predicted to grow at a CAGR of 3.1% over the span of next few years, owing to its heavy use in offshore, production, processing, and refining activities. Oil-free air compressor industry in Asia Pacific is projected to display a sharp growth over the years ahead, driven by large-scale presence of petrochemical firms and oil refineries across the region. China and India are predicted to be the key regional revenue drivers.

Market players are emphasizing more on product development and product differentiation to acquire competitive advantage.  Atlas Copco, Bauer Group, General Electric Corporation, Ingersoll Rand Plc, Elgi Equipments Limited, BelAire Compressors, Chicago Pneumatic, and Kaishan Group are the major participants of oil-free compressor industry.

Author Name :Dhananjay Punekar