Air Compressor Market: Opportunities, Emerging Trends, Competitive Strategies and Forecasts 2023
Market Highlights Air compressors are used in numerous industrial and non-industrial processes across the globe. It enables the supply and control of air and gas by compressing the gas inside the cylinders with the help of a piston. Air-compressors, along with check-valves, regulate the flow of gas according to the requirements in different industrial processes. Rapid growth in automobile industry, increasing adoption of energy saving equipment for various operations, technological advancements in power generations sectors, are the key factors expected to augment the air compressors market growth, in the forecast period. Rising demand for efficient air compressors resulting in improved industrial and non-industrial infrastructure, are also to add to the market growth. The market is marked by the presence of international and regional vendors, especially based in Asia Pacific. International vendors are trying to differentiate their products by developing and designing technologically advanced compressors. The current research and development programs undertaken by major players, will facilitate the launch of more efficient air compressors. This will help mitigate the noise and air contamination concerns prevalent in their traditional counterparts. Furthermore, the potential innovation in technology would drive the higher uptake of air compressors in the construction industry, especially across developing counties. This would enable enterprises operating in the global air compressor market, rake higher profit in the forthcoming years. The Global Air Compressor Market is expected to grow at ~ 7.5% CAGR during the forecast period. Key Players The key players of Global Air Compressor Market are Atlas Copco AB (Sweden), Sullair, L.L.C. (U.S.), Gardner Denver (U.S.), Kaeser compressors SE (Germany), Ingersoll Rand (U.S.), Rolair Systems. (U.S.), Doosan Portable Power (U.S.),