PORTLAND, Oregon, December 23, 2014 /PRNewswire/ --
According to a new report by Allied Market Research, titled "North American Air Compressor Market (Type, Technology, Lubrication Type and Countries) - North America Opportunity Analysis and Forecast - 2013 - 2020", the North American air compressor market is forecast to reach $6.6 billion by 2020, growing at a CAGR of 6.1% during the period 2014 - 2020. The North American market highlights the potential of centrifugal air compressors which currently represent around 15% of the total market size by value. By 2020, the centrifugal air compressor market is expected to grow to double of its current size, representing over 30% of the total market size by value. The need of pure air in applications in FMCG, medical and pharmaceutical industries would increase the adoption of oil-free air compressors, which is expected to generate over 46% of market size by value by 2020. The North American market which was badly hit at the time of recession, is recovering due to the reinitiating of the stalled projects since 2012 onwards.
To view the report, visit the website at http://www.alliedmarketresearch.com/north-american-air-compressor-market
Among the various lubrication methods, oil lubrication is commonly adopted in the North American market. The oil lubricated air compressors contributed more than ½ of the market size by value in 2013. Based on mobility, the air compressor systems are segmented into stationary and portable models. 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. The portable air compressors are found useful in on-site construction applications, FMCG industry and medical & pharmaceutical purposes. Conclusively, applications of air compressors are observed in enormous industries such as FMCG, oil & gas, manufacturing, automotive, etc., due to energy efficiency, eco-friendliness and portability of these machines. Additionally, the increased oil exploration activities in U.S.A. and Mexican territories are driving the usage of heavy duty air compressors in the region.
The North American air compressors market is classified into three categories based on the technology of operation, namely reciprocating, rotary and centrifugal air compressors. Rotary and reciprocating are positive displacement air compressors; whereas, centrifugal is a dynamic air compressor. Rotary air compressor was the highest revenue generating segment in 2013 and would continue to lead the market during the forecast period. Centrifugal air compressor market is also expected to witness high growth due to its wide scale application, and capability to deliver high and constant flow of air pressure along with its oil free operations.
View the global air compressor market report at http://www.alliedmarketresearch.com/air-compressor-market
Key findings of the study:
- The share of centrifugal air compressors is expected to grow at a CAGR of 16.7% during 2014 - 2020.
- By 2020, the market size by value of oil-free air compressors would be at par with oil lubricated air compressors market.
- The portable air compressors would experience increase in adoption during 2014 - 2020, generating about 45% of the market revenue by 2020.
- The ability to operate with optimum power requirement and supply quality air output should increase adoption of air compressors among the non-industrial usages.
Atlas Copco, Ingersoll Rand, Kobe Steel, Ebara Corp., Sullair, VMAC, Mitsubishi Heavy Industries Ltd., Campbell Housefeld, Sulzer, and Porter Cable are the major market players that are profiled in the report. Among the various strategies adopted by these key players, product launch has emerged as the prime strategy which has been adopted by most of the players. Rotary air compressors which contribute to over 50% of the market revenue, has been identified as a product to launch with innovative offerings.
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 Analytics LLP