The industrial air compressor market report by ESOMAR-certified consulting firm Future Market Insights’ projects an expansion of over 4.6% CAGR through 2021. The market is anticipated to register high growth due to surging demand from diverse end-use industries such as oil & gas, automotive & transportation, and food & beverage.
With rapid industrialization and increasing investment in mechanical equipment, the demand for industrial air compressor within oil and gas industry is expected to witness steady growth over the forecast period.
Expansion of oil & gas industry across various regions such as the U.S., India, China and GCC countries will bolster the growth of industrial air compressor market. Demand for rotary type industrial air compressors from various end-use sectors such as oil & gas will foster the sales throughout the forecast period.
Increasing investment for the expansion of oil & gas industry across the Middle East & Africa region is giving a boost to the demand of the industrial air compressor market. Extensive application of industrial air compressor in oil & gas pipelines across India, China, Russia and others is creating wide growth opportunities for the leading market players.
Increasing focus in the investment for brownfield & greenfield projects, coupled with enhanced research & development activities for sustainable solutions are providing ample of opportunities for the market players. As per FMI’s analysis, the industrial air compressor market will surpass the valuation of US$ 26.7 billion in 2021.
“Increasing need for sustainable and economical solutions for power generation within various end-use sectors such as food & beverage, oil & gas, and transportation are creating opportunities for expansion within the market,” says the FMI analyst.
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Key Takeaways from FMI’s Industrial Air Compressor Market Study
According to FMI, the market is highly consolidated, in which leading players are accounted for over 75% of the market share. Key manufacturers are focusing on offering customized solutions to appropriate end-use industries. Product innovation and adoption of high-end technology are also the strategies adopted by some large-scale and mid-scale manufacturers.
Some of the key players profiled by Future Market Insights include:
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More Insights on the Global Industrial air compressor Market
In its latest report, FMI offers an unbiased analysis of the global industrial air compressor market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of:
By Compression Stage
By Driver Type
Key Questions Covered in the Report
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