The global air compressor market size is expected to exceed USD 28 billion by 2022, with estimated CAGR of over 5%. Energy efficient & eco-friendly operations coupled with low maintenance costs are vital factors expected to drive air compressor market over the next seven years. Portability and increasing demand from various industry sectors such as semi-conductors & electronics may have considerable impact on demand. Expeditious industrialization paired with increasing demand from food and beverage industry owing to directives on the food safety concerns is estimated to contribute to demand growth. However; noise pollution, rising cost, hefty size and air contamination are some of the restraints impacting demand of the product. Introduction of new technologies namely turbocor & thermoacoustic are expected to overcome the restraints and thus provide huge market potential to the industry participants. The air compressor market can be segmented by product as stationary and portable. Increasing portable compressors demand is expected to drive the market owing to their significant use in various segments namely laboratory, construction and pharmaceuticals. On the basis of lubrication the product can be segmented into oil filled and oil free. Oil filled compressors are likely to generate highest revenues, owing to its wide scale applications in colossal industries namely mining, petroleum and automobile. However; oil free compressors are expected to penetrate the market at a great extent owing to performance improvement and productivity. Based on technology, the market can be segmented in to reciprocating, rotary, and centrifugal. Rotary systems are further segregated into screw, rotary helical & rotary sliding vane and these are estimated to be the highest revenue generating products. However; centrifugal systems are expected to exhibit gradual growth owing to its prominent application in various industry sectors. Reciprocating systems are sub-divided as single phase, two phase, rocking piston and diaphragm. By application, the air compressor market can be segmented into semiconductors & electronics, oil & gas, food & beverage, healthcare, energy, home appliances and manufacturing. Asia Pacific air compressor market is expected to witness substantial growth owing to increasing establishment of numerous industries namely oil refineries and petro-chemical plants. North America is expected to exhibit moderate growth rates over the forecast period attributed to saturation in domestic markets. Emerging regions such as Middle East & Africa and Latin America are anticipated to witness considerable growth owing to increasing awareness towards eco-friendly products. Key participants with air compressor market share include Atlas Copco, Chicago Pneumatic, GE Energy, Bauer Group and BelAire. Some of the other market participants are Frank technologies, Oasis Manufacturing, Airtex Compressors, Ingersoll Rand, Grainger Company, Suzler, VMAC Company, Best Aire LLC, Sullair and Mitsubishi.
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