The global industrial air compressor market is slated to proliferate substantially through 2032 owing to the growing technological advancements in the air compressor field. In addition, the advancing manufacturing industry in the United States is likely to bolster industrial growth over the forecast timeframe.
Leading companies in industrial air compressor market are involved in mergers and acquisitions for overseas expansion. They are also introducing innovative products and heavily investing in R&D activities to fuel industrial growth. For instance, in January 2021, Atlas Copco announced the takeover of Kawalek Kompressoren, a Germany-based compressed air distributor as well as a service provider.
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The industrial air compressor market has been segmented in terms of product, technology, power capacity, lubrication, applications, and region.
Based on the product, the stationary segment is set to grow significantly over the review timeline due to the high power capacity which is in turn capable of supplying more air during higher pressures.
With respect to technology, the centrifugal segment is expected to grow steadily by the end of 2032 credited to the performance characteristics which are largely affected by the fluctuations in gas conditions.
In terms of power, up to 15 kW segment is projected to showcase a more than 7% CAGR, capturing a business share of more than $1.5 billion over 2023-2032. This can be attributed to the product's low capacity as well as nominal use in end-user industries like pharma, food & beverage, etc.
Meanwhile, more than 500 kW segment is estimated to expand at a 6% growth rate, recording a valuation of more than $5.5 billion over the forthcoming period. The growth can be credited to the enormous capacity and significant product demand from heavy industries like oil & gas, automotive, mining, and energy.
Based on lubrication, the oil free segment is speculated to foresee a substantial expansion rate through 2032 ascribed to the growing need for clean and uncontaminated air.
With regards to applications, the food & beverage segment is set to depict a 7% CAGR, capturing a revenue share of more than $1 billion by the end of the review timeline. The expansion can be driven by an increase in the need for consistent and contaminant-free compressed air by food and beverage manufacturers for several industrial jobs.
Meanwhile, the oil & gas segment is poised to register a 6% growth rate and be valued at more than $1 billion through the projected timeframe. This is likely to be propelled by the continuous requirement to supply a consistent flow of compressed air for long periods of time.
From the regional perspective, Europe industrial air compressor industry is subjected to showcase a more than 6% CAGR and more than $4 billion market valuation over the estimated timeline.
On the other hand, Middle East & Africa industrial air compressor market is set to witness around 5% CAGR and over $800 million valuation 2032 end, attributed to the expansion of mining and oil & gas exploration operations in the MEA region.
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Table of Contents (ToC) of the report:
Chapter 1 Methodology and Scope
1.1 Scope & definitions
1.2 Methodology, market estimations & forecast parameter
1.3 COVID-19 impact calculations on industry forecast
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.5 Industry Glossary
Chapter 2 Executive Summary
2.1 Industrial air compressor market 3600 synopsis, 2018 - 2032
2.1.1 Business trends
2.1.2 Product trends
2.1.3 Technology trends
2.1.4 Lubrication trends
2.1.5 Power trends
2.1.6 Application trends
2.1.7 Regional trends
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