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The global Air Compressor Market size is expected to reach $37 billion by 2022 owing to the growing awareness on energy saving and increasing industrialization. These devices supply gas for various industrial and non-industrial activities and are used for transporting and compressing of gas in the oil & gas industry. They are widely used in various other end-use industries such as automobile, chemical plants, transport, pharmaceuticals and oil extraction.

Development of energy-efficient air compressors are preferred by numerous industries, air contamination due to oil lubrication and noisy operations of oil-free compressors are limiting the adoption of these devices. Innovation in technology is leading to the higher adoption of air compressors especially in emerging economies.

Air compressor market is segmented on the basis of product design, mobility and lubrication method. On the basis of design of the product it is classified as centrifugal, rotary and reciprocating. Centrifugal air compressor is anticipated to have a significant growth owing to demand in industries such as power generation, automobile and others. Factors driving the centrifugal compressor growth include delivering optimal and constant flow of air pressure.

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From the commercial point of view, the band is specifically developed for military operations. It is unavailable for use in enterprise applications, point-to-point wireless local area networks and broadband internet access. Such factors may hinder the commercial growth of the market but strengthen the defense sector due to high complexities involved. Therefore, the market for extremely high frequency technology is anticipated to grow at a substantial rate CAGR for the forecast period.

The key driving factors responsible for the growth of extremely high frequency technology market includes growing need for efficient data transmission across local, national and international levels. Additionally, characteristics such as uninterrupted data transmission, minimal loss of data while transmission are adding to the growth of market. Moreover, the technology can be used for high level encryption of data by defense agencies of nation are contributing to the market growth. However, unavailability of the technology in commercial segment and enterprise applications for secure data communication is likely to impede the market growth during the forecast period.

The mobility segment includes stationary and portable air compressor. Portable air compressor segment is expected to increase during the forecast period owing to increasing end-user demand for enhanced air quality and reliability. On the basis of lubrication, it is classified as oil lubricated and oil free air compressor. Oil free compressors are expected to receive demand from industries such as metal and mining, electronic assembling, infrastructure, pharmaceuticals and food & beverage.

Portable air compressor and generators are a reliable power source for machines and tools mainly used in construction and mining activities as well as for various industrial applications due to their handiness in transporting the equipment. Ease in handling and low maintenance of these devices has driven adoption in low-duty applications.

Asia Pacific is expected to witness substantial growth over the forecast period on accounts of strong rail network in India and China. Latin America and MEA are expected to witness prominent growth owing to growing awareness towards eco-friendly products and changing regulatory scenario. Growing food and beverage industry in the U.S. is expected to increase the consumption. Escalating demand for diesel, gasoline and other fuels has led to the development of petrochemical and oil refineries plants in Brazil.

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Key factors driving industry growth include reciprocating systems with dual cylinders and oil-free scroll offering, low-cost operations, rising adoption of variable speed air compressor controllers and low maintenance cost of compressors. Significant demand from the oil and gas industry is another factor driving industry growth. It is expected that application of air compressor across various industrial sector to increase during the forecasted period. Increasing demand of noise and pollution free, energy-efficient-power sources is also anticipated to drive industry growth.

Superior air quality along with high reliability offered is also expected to propel the industry growth over the coming years. Moreover, industry leaders are taking initiatives to increase the overall performance of these devices, which is further expected to escalate the demand. Several manufacturers are trying to design and develop next-generation devices consisting of a variable speed drive. This will help in reducing energy consumption as compared to fixed speed air compressors. Flexibility towards the end-user requirements and enhanced service offerings may challenge the industry growth. Escalating prices of raw material, noise pollution and bulky size may also hinder demand.

Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/hvac

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