Centrifugal Air Compressor Market size worth over $10 Bn by 2026
Published Date: September 14, 2020 Authors: Kiran Pulidindi, Akshay Prakash
Centrifugal Air Compressor Market revenue is predicted to exceed USD 10 billion by 2026, according to a new research report by Global Market Insights, Inc.
Centrifugal air compressors are highly recommended for plant maintenance owing to its requirement for high pressurized air for a longer period.
Rising electric vehicle adoption to drive compressor demand
Growth in vehicle production coupled with electric vehicles adoption among consumers will boost centrifugal air compressor industry growth. Battery Electric Vehicle (BEV) deployment has grown at more than 65% from 2013 to 2018. China accounted for more than 50% share in the global BEV market in 2018. Rising awareness to curb GHG emissions from the automotive sector and growing consumer preference for high-performance vehicles are major factors contributing to the success of electric vehicles. Such trends will be expanding the requirement for production facilities of EV across the world, in turn, driving the centrifugal air compressor market size.
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Stringent government regulations on air compressors to limit industry growth by 2026. Noise emitted by air compressors must be regulated as it can result in psychological health problems and can cause high-stress levels, hypertension, hearing loss, tinnitus, sleep disturbances, and other harmful effects. End-users generally prefer centrifugal air compressor that meet the noise level based on customer site requirements. The usage of sound enclosures escalates manufacturing cost of compressors, hampering the compressors demand.
Browse key industry insights spread across 220 pages with 207 market data tables & 30 figures & charts from the report, “Centrifugal Air Compressor Market Size By Product (Portable, Stationary), By Casing (Horizontally Split, Vertically Split), By End-user (Food & Beverages, Oil & Gas, Energy, Semiconductor & Electronics, Manufacturing, Healthcare), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
The portable segment is poised to account for around 15% share in centrifugal air compressor market volume by 2026 owing to its low penetration in the end-user industry. These compressors are majorly utilized in oil & gas exploration activities as they are easy to operate and can be skid-mounted. Portable products have few moving components and offer higher flows compared to similar-sized reciprocating compressors.
Vertical split segment to bank upon end-users requiring high discharge pressure
The vertically split centrifugal air compressor segment to witness over 1.5% CAGR through 2026. Product with this casing design is majorly preferred in areas requiring very high amounts of discharge pressures. Vertically split casings can be commonly utilized in sectors requiring heavy-duty applications such as manufacturing, oil & gas, fertilizers, and many more.
Semiconductor & electronics is projected to grow at around 2.5% CAGR during 2020 to 2026. The product is mainly used for conveying components pneumatically, cleaning of PCBs, and to operate sensitive valves in the sector. Additionally, oil-free air compressors have an added advantage in the semiconductor industry as oil contamination may result in additional maintenance or production halt.
Manufacturing industry to drive Europe penetration
The Europe centrifugal air compressor market share will witness over 1% CAGR through 2026 owing to its demand from manufacturing industry. The product is highly recommended for cutting & welding equipment, operating air tools on production lines, monitoring equipment, ejecting pieces from mold, etc. Prospering automotive production, especially in Germany will drive the regional share by 2026.
Additionally, expansion in thermal and nuclear power plants in Europe will boost product demand over the coming years. Some of the ongoing and planned nuclear power plant expansion projects have been announced in countries such as, Turkey, France, Belarus, Finland, Romania, Bulgaria, Slovakia, and Sweden. Such trends will further nourish industry development.
Key manufacturers included in the centrifugal air compressor market are Sullair, Atlas Copco, Gardner Denver, Danfoss, Ingersoll-Rand, Elliott Group, General Electric, Hitachi, Kobelco Compressors America, and many more.
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