Portable Air Compressor Market size worth $2.37 Bn by 2027
Published Date: September 29, 2021 Authors: Kiran Pulidindi, Soumalya Chakraborty
Portable Air Compressor Market size is slated to reach USD 2.37 billion by 2027, according to a new research report by Global Market Insights Inc.
The growing industrialization and the establishment of manufacturing facilities in fast-developing regions are driving the portable air compressor industry growth. The ability of portable equipments to deliver compressed air at all places & times along with other advantages such as multi-functional utility and compact versatility will accelerate their adoption across industries. Other operational benefits, such as high energy efficiency, low maintenance, and ease of transportation, will also further fuel the market penetration.
The rising construction sector, especially in Asia Pacific, is providing sufficient ground for the portable air compressors market development. The compressed air is extensively used for power tools or equipment at construction sites; therefore, it is desirable to employ portable air compressor in both residential or commercial construction applications such as road maintenance and demolition. The market expansion is also propelled by rapid urbanization and increasing per capita income in growing economies.
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COVID-19 is hampering the industry development
The outbreak of COVID-19 hindered almost all the construction projects and manufacturing operations around the globe. The industrial supply chain crumbled due to lockdowns and mobility restrictions that were imposed by several governments to curb the pandemic. This led to a downfall in the product demand and critically affected the business profitability of several manufacturers. The recovering global economy and resuming manufacturing operations will augment the portable air compressor demand in the coming years.
Browse key industry insights spread across 285 pages with 488 market data tables & 25 figures & charts from the report, “Portable Air Compressor Market Size By Technology (Rotary [Screw, Scroll], Reciprocating), By Lubrication (Oil Free, Oil Filled), By Application (Home Appliances, Food & Beverage, Oil & Gas, Energy, Semiconductor & Electronics, Manufacturing, Mining & construction, Healthcare, Municipal), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
The reciprocating portable air compressor market is anticipated to hold a considerable share and is likely to witness 7% CAGR through 2027. These products are majorly recommended to use in the industries where the required power to operate pneumatic tools and equipment is usually less than 30 hp. Owing to lesser efficiency and higher maintenance cost of reciprocating compressors, portable rotary air compressors are however expected to gain an increased market share.
Surging oil-free compressed air sales to foster the market revenue
Oil-free compressor segment accounted for considerable market share in 2020. Growing sales of oil-free compressed air in several industries such as food & beverages, pharmaceuticals, and electronics, among others is boosting the segment growth. As oil-contaminated compressed air can lead to disastrous consequences during manufacturing in such industries, the oil-free compressors demand will be expecting significant growth.
The food & beverages application is anticipated to generate over USD 200 million revenue by 2027. Oil-free air compressors are widely used in this sector as it enables clean and efficient food processing & packaging. The growing inclination of consumers toward packaged food, which is also triggered by COVID-19, is slated to further augment the market size.
The portable air compressor market is projected to experience a significant traction from the European region, which will reflect a growth rate of more than 7.3% till 2027. The regional growth is attributable to flourishing industries such as food & beverages and automotive. The growing dominance of industry payers in Europe is also contributing to the proliferating market demand. For instance, in 2020, ELGi Compressors Europe, a part of ELGi, established its new regional headquarters in Belgium.
Some of the prominent portable air compressor manufacturers include Gardner Denver, Ingersoll, Atlas Copco AB, Kaeser Kompressoren, Ciasons Industrial, ELGi, Rand, and others.
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