PORTLAND, Oregon and PUNE, India, April 2, 2018 /PRNewswire/ --
According to a new report by Allied Market Research, titled, "Rotary Air Compressor Market by Type, Lubrication Method, and End-Use Industry: Global Opportunity Analysis and Industry Forecast, 2016-2023", the global Rotary Air Compressor market was valued at $ 9,298 million in 2016, and is projected to reach at $ 12,634 million by 2023, growing at a CAGR of 4.50% from 2017 to 2023. Stationary and oil free segments possess the maximum growth potential and are expected to create lucrative opportunities for industry players.
At present, Rotary Air Compressor witness an increased adoption in the developed and the developing regions, owing to technological innovations in product offerings, increased adoption of industry 4.0, growth associated with end-use industries, surge in demand for energy efficient products, and increase in application areas among end users. However, stringent regulatory standard is expected to restrict the Rotary Air Compressor market growth during the forecast period.
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The stationary segment dominated the Rotary Air Compressor market in 2016, with around 60% revenue share and it is anticipated to exhibit fastest growth rate. This is attributed to the growth of construction, manufacturing, and oil & gas industry.
The oil free segment dominated the global Rotary Air Compressor market, with around 55% share in 2016, followed by oiled segment. Furthermore, oil free segment is estimated to grow at the highest CAGR of 4.80%, owing to widespread adoption of advanced products. For instance, in October 2016, Kobe Steel launched Emeraude-ALE oil-free air compressors.
The manufacturing segment dominated the Rotary Air Compressor market in 2016, with around 33% revenue share and power generations segment is anticipated to exhibit fastest growth rate. This is attributed to the rising demand from Asia-Pacific region.
Asia-Pacific was the highest revenue contributor in 2016, accounting for around 38% share. Asia-Pacific is projected to grow at the significant CAGR of 5.00% during the forecast period.
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The report features the competitive scenario of the Rotary Air Compressor market and provides comprehensive analysis of the significant growth strategies adopted by major players. The key players operating in the market include Atlas Copco AB, Kobe Steel Ltd., Elgi Equipments Limited, Ingersoll-Rand PLC, Kirloskar Pneumatic Company Limited, Mitsubishi Heavy Industries Ltd., Suzler Ltd., Ebara Corporations, Porter Cable, and VMAC Global Technology Inc., and others.
Key Findings of the Rotary Air Compressor Market:
- The stationary segment dominated the global Rotary Air Compressor market in 2016.
- The oil-free, power generation sector, manufacturing, and food & beverage industry segments are estimated to provide significant growth opportunities to the key market players.
- The Asia-Pacific market is expected to be dominant, in terms of market size. However, Asia-Pacific and LAMEA are estimated to possess the highest CAGR during the forecast period.
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SOURCE Allied Market Research