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Pune, Oct 24, 2022: Maximize Market Research has published a report on the Air Compressor Market that provides a detailed analysis for the forecast period of 2022 to 2029. According to the MMR report, the Air Compressor Market size was valued at USD 50.16 Bn. in 2021, and the total market revenue is expected to grow by 4.5 percent from 2022 to 2029, reaching nearly USD 71.33 Bn. Screw Type Air Compressor
A device that can pressurize and compress air to transform electrical energy into kinetic energy is an air compressor. By exerting more pressure on the air entering a storage tank, this gadget builds pressure. The air compressor supplies the necessary energy to various tools, equipment, and machinery across numerous industry verticals by utilizing the kinetic energy present in the compressed air. For vacuum packaging, dehydration, air blowing, tool powering, spray painting, cleaning, and medical equipment, the air compressor has a wide range of uses.
The market is growing as a result of the rising demand for creative air compressors that can power equipment cost-effectively. Additionally, the most important market drivers are the soaring investments in the construction of improved oil and gas pipeline networks in nations like the US and the quick industrialization of developing regions. The main market players’ ongoing product launches are accelerating the industry’s growth on a global scale.
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The primary force behind the rapid industrialization of emerging economies is the demand for air compressors worldwide. The introduction of portable and energy-efficient air compressor types has seen widespread adoption by industries all over the world. The new technology is well embraced by a large number of consumers from various industry backgrounds since it promises a significant decrease in maintenance expenses. But those who are forced to use more traditional types must still put up with the noisy functioning of oil-free compressors and the lubrication issues with oiled air compressors.
2020 had seen the implementation of taken by central lockdowns by governments all over the world owing to the increasing need to stop the COVID-19 illness from spreading. This in turn prevented several businesses and enterprises from growing. The pandemic also had an impact on the air compressor market, resulting in a sharp fall in sales and profitability. Additionally, the second wave’s increased COVID-19 cases in numerous nations led to partial lockdowns everywhere. As a result, both the market’s growth and investments in the oil and gas sector have been hampered.
Air Compressor Market Regional Insights:
Asia Pacific region held the largest market share in 2021, as a result of ongoing government investments in infrastructure development and rising industrialization. The need for air compressors from a variety of applications, including the food and beverage, manufacturing, home appliances, and oil and gas industries, is what is causing the market to grow. Additionally, the existence of several compressor producers in China and India, as well as the substantial industrial bases for the production of electronics and semiconductors in China and Taiwan, are anticipated to fuel market growth.
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Based on Technology, the Air Compressor Market is segmented into Reciprocating, Rotary, and Centrifugal.
Based on Type, Air Compressor Market is segmented into Stationary and Portable.
Based on Power Rating, Air Compressor Market is segmented into 0-100 kW, 501 kW, and others.
Based on the Lubrication Method, Air Compressor Market is segmented into Oil free and Oiled.
Air Compressor Market Key Competitors:
Key players in the Air Compressor Market include:
Key Questions answered in the Air Compressor Market Report are:
Related Report Published by Maximize Market Research:
Global Oil Free Air Compressor Market
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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