APAC Industrial air compressor market
Industrial air compressor market to record substantial gains from oil-filled compressor segment over 2019-2026
Ever-increasing manufacturing activities commenced across developing nations have accelerated the demand for industrial air compressor in recent years. Industrial air compressors are widely used across manufacturing sectors like heavy engineering products, steel fabrication, automotive production, energy & mining, pharma, food & beverage, and others. With profound application across such several end-use sectors, the industrial air compressor market is anticipated to accrue prominent growth over the forecast period.
Technological advancements in pneumatic equipment like actuators, robotic arms, and assembly lines would generate lucrative growth opportunities for the industrial air compressor market. Global Market Insights, Inc., meanwhile predicts that the industrial air compressor market may surpass USD 24 billion by 2026.
Based on lubrication, the oil-filled air compressor segment has registered immense application in the manufacturing sector owing to its minimum cost and robust application advantages over oil-free alternatives. These compressors are used across nuclear, hydroelectric and thermal power plants. The oil-filled industrial air compressors are regularly employed in drilling, mining, and quarrying activities to power pneumatic drilling equipment. With growing applications in numerous industries, studies suggest that the oil-filled industrial air compressor industry may surpass over USD 10 billion by the year 2026.
As per technology, the market is classified into reciprocating, rotary, and centrifugal air compressors. Out of these segments, rotary air compressors are slated to be good energy conservers and can generate less heat compared to other air compressors. They are also renowned for consuming less oil. In 2018, rotary air compressors market was accounted for over 55% of the market share. Moreover, with growing prominence, it is estimated to witness significant traction over the forecast period.
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On a regional front, APAC is expected to generate lucrative growth opportunities for the industrial air compressor market. The region has witnessed rapid industrialization over the past few years. In 2018 alone, the regional market accounted for approx. 40% of the global output.
Activities like construction, manufacturing, and mining in the region are shaping the growth trajectory of the market. All these factors are slated to significantly drive APAC industrial air compressors industry expansion in the forthcoming years. However, stringent emission norms could restrain the size of industrial air compressor market in APAC.
Reportedly, the industrial air compressor market is fragmented with the presence of prominent manufacturers like Doosan Portable Power, Mat Holdings, Quincy Compressor, Hitachi, Rolair Systems, Sullivan-Palatek, Gardner Denver, Elgi Compressors, Atlas Copco, Ingersoll-Rand, Kaeser Kompressoren, Bauer Compressors, Sullair, Ciasons Industrial, Aerzener, and Heyner.
Frontrunners like Gardner Denver, Atlas Copco, and Ingersoll Rand have a strong presence in the global market. Strategies such as subsidiaries and joint ventures have mainly led these firms to attain lucrative growth opportunities.
Author Name : Abhijeet Kakade