Stationary Air Compressor Market size to exceed $80 Bn by 2027
Published Date: August 3, 2021 Authors: Kiran Pulidindi, Akshay Prakash
Stationary Air Compressor Market size is slated to surpass USD 80 billion by 2027, according to a new research report by Global Market Insights Inc.
The increasing production of automobiles in Asian countries and developments in the North American oil & gas and mining industries is boosting the industry growth. The significant growth in the home appliances sector on account of the expanding personal income, industrial developments, and the positive economic outlook is contributing significantly to the market expansion. The growing application of air compressors in refrigerators, air conditioners, and other household appliances is likely to fuel product consumption.
The preference for portable compressors by a few industries, such as construction, oil & gas, etc., is impeding the industry growth through 2027. Additionally, the coronavirus outbreak is further plummeting the product demand and is poised to restrain the market expansion for a short time.
Browse key industry insights spread across 200 pages with 249 market data tables & 29 figures & charts from the report, “Stationary Air Compressor Market Size By Technology (Reciprocating, Centrifugal, Rotary), By Lubricant (Oil-filled, Oil-free), By Application (Food & Beverages, Home appliances, Oil & Gas, Semiconductor & Electronics, Energy, Healthcare, Manufacturing), COVID-19 Impact Analysis, Regional Outlook, Price Trends, Competitive Landscape, Application Growth Potential & Forecast, 2021 – 2027” in detail along with the table of contents:
The oil-filled stationary air compressor industry is expected to maintain its dominance. In 2020, the segment generated almost 70% of the industry revenue share owing to its durability and low cost. Oil-filled or oil-lubricated air compressors also deliver large volumes at high power rendering them a preferable choice for heavy-duty operations, such as manufacturing facilities, oil rigs, automotive, etc.
The reciprocating stationary air compressors demand is anticipated to witness around 3.5% CAGR through 2027. Lower cost, lesser heating tendency, and ease of maintenance compared to scroll compressors are some of the factors augmenting the segment growth.
The home appliances application is set to account for over USD 20 billion by 2027. Urbanization, strong economic growth, and proliferating consumer spending in emerging economies will drive the air compressors demand in home appliances.
Asia Pacific will hold a significant portion in the market with around 35% revenue share by 2027. The surging production of automobiles and significant growth in manufacturing operations coupled with an upsurge in the home appliances sector are key growth enabling factors for the regional industry.
The key market participants are Ciasons Industrial, Rolair Systems, Atlas Copco, Gardner Denver, Kaeser, Sullivan-Palatek, Gen-Tech, Bauer Compressor, Ingersoll-Rand, and others.
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