As stated in our extensive report; providing insights Key Drivers, Key Restraints, Segments (i.e.,Type, Product,Lubrication, Application, and Region); the Global Air Compressor Market accounted for USD 32.4 Billion in the year 2021.
An Air Compressor is a pneumatic device that converts power (from an electric motor, diesel, or gasoline engine, for example) into stored potential energy in pressurized air (i.e., compressed air). The air compressing device is used in various sectors in industries such as in inflation of vehicle and bicycle tires, balloons, air beds, and other inflatables, spray painting, pressure washing, fountains, scuba diving, paintball, cooling for refrigerators, freezers, and air conditioners, in-vehicle engines for heating and cooling, as well as in air brakes for larger trucks and trains and various other sectors like healthcare, agriculture, manufacturing, workshops, and construction.
Post COVID-19 pandemic, there has been a significant increase in the demand for the Air Compressor due to the increasing focus on energy efficiency, energy recovery, and reduction of CO2 emissions.
“Key Factors Likely to Drive Growth of Air Compressor Market”
Due to their cost-effective operations, energy-efficient compressors are seeing a surge in the demand. The increased adoption of variable-speed systems, low maintenance cost, effective operation, and retrofitting for present structures are a few elements propelling the demand for Air Compressors throughout key end-use industries. Also, the expanded demand for services and monitoring of compressed air installations is anticipated to drive the market increase of Air Compressors.
With the emergence of technologically updated, atomized, and state of the art technology integrated manufacturing facilities, the manufacturers expect an increase across the global market of Air Compressors.
Also, with an increment in the use of machinery and equipment across numerous end-use sectors and considerable development in the manufacturing sector, the requirement for crude oil and renewable resources has increased at a substantial pace. Thus, the application of products capable of withstanding adverse environments i.e., Air Compressors is anticipated to propel the demand for these products in the global market.
Asia Pacific holds the largest share in the Air Compressor Market and is expected to continue this trend in the forecast period.
Some of the key players in the GlobalAir Compressor Marketinclude-AireTex Compressor, Atlas Copco, Bauer Group, Cook Compression, BelAire Compressors, General Electric, Ingersoll Rand PLC and others.