PORTLAND, Oregon, December 22, 2014 /PRNewswire/ --
According to a new report by Allied Market Research, entitled "Global Air Compressor Market (Type, Technology, Lubrication Type and Geography) - Global Opportunity Analysis and Forecast - 2013 - 2020", the global air compressor market is forecast to reach $29.8 billion by 2020, growing at a CAGR of 7.1% during the period 2014-2020. Stationary air compressors occupy the major share in the global air compressor market and would continue to lead the market through 2020. Rotary air compressor technology was and would be the highest revenue generating segment in 2013-2020. Based on the analysis, the centrifugal air compressor market would witness tremendous growth during the forecast period. Asia-Pacific region is currently the market leader and would maintain its position throughout the forecast period. The LAMEA region is expected to register the highest growth in the global air compressor market.
High energy efficiency, low maintenance cost, eco-friendly operations, portability, and ability to deliver variation in supplied pressure are some of the factors driving the air compressor market. On the other hand, some of the restraints associated with air compressor market are rising cost of raw material, noise pollution, contaminated compressed air, bulky size, and others. The air compressor manufacturers are now concentrating on eliminating these restraints by introducing new technologies and solutions such as Turbocor and Thermoacoustic compressors.
To view the report, visit the website at http://www.alliedmarketresearch.com/air-compressor-market
Based on lubrication, the air compressors are segmented into oiled and oil-free compressors. Oiled compressor segment was the highest revenue-generating segment in 2013 and would continue to lead the market till 2020. The wide-scale application of oiled air compressors in heavy duty industries such as mining, automobile, petroleum, chemical, etc., is a major driving factor for the oiled air compressor market.
Based on the principle of operation and design the air compressor, market is broadly classified into three segments viz., reciprocating, rotary, and centrifugal air compressors. Rotary was the highest revenue-generating segment in 2013 and would continue to lead the market during the forecast period. The centrifugal air compressor segment is expected to exhibit the fastest growth based on its wide scale application, capability to deliver high and constant flow of air pressure along with its oil-free operations.
Based on mobility, the air compressor systems are segmented into stationary and portable machines. The stationary air compressors were the major revenue contributors in 2013 and would continue to drive the market through 2020 based on their wide-scale applications in heavy duty industry. Portable air compressors are largely used in construction, laboratory, pharmaceutical, and electronic industries.
Key findings of the study:
- Rotary air compressors would continue to lead the market through 2020
- The share of centrifugal air compressors would gradually increase over the years
- By 2020, the use of oil-free air compressors would be as popular as the oiled compressors
- Asia-Pacific and Europe would prove to be the most lucrative markets in terms of revenue; whereas, LAMEA market would grow substantially
- Growing demand for energy efficient, noise and pollution free power sources would drive the global air compressor market
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Several air compressor vendors and manufacturers are concentrating on developing application specific air compressors, which are in sync with the requirements of the end users. Atlas Copco, Ingersoll Rand, Kobel, Mitsubishi Heavy Industries Ltd., Kirloskar, Sulzer, Ebara, and ELGI are the major market players that are profiled in the report. Product launch, acquisition and expansion are the prime corporate strategies adopted by these companies. Atlas Copco, one of the air compressor market leaders, has redesigned and launched its SF series of oil-free scroll compressors. These air compressors are silent, reliable, oil-free, compact, and meet the demands of the end users and OEMs. The high demand for diesel, gasoline, and other fuels has led to the establishment and expansion of petrochemical plants and oil refineries in Brazil. Eyeing on this opportunity, Kobe Steel Ltd., recently announced its expansion into the South American air compressor market. Air compressors are widely used for compressing and transporting gases in oil and gas processing plants. With an aim of broadening its air compressor product and service portfolio, along with gaining access to advance air compressor technology, Ingersoll Rand has acquired Cameron's centrifugal compression division. Ingersoll Rand finds this acquisition to be a perfect strategic fit with its compressed air business, which will help in strengthening its current market position.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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SOURCE Allied Market Research