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NEW YORK , April 25, 2022 /PRNewswire/ -- According to the market outlook report, the Portable Air Compressors Market share will witness a YOY growth of 2.81% in 2022 at a CAGR of 3.51% during the forecast period. The report is segmented by end-user (manufacturing, construction and mining, energy, healthcare, and others) and geography (APAC, North America , Europe , South America , and the Middle East and Africa ). One of the main drivers of the portable air compressors market is the reduction in energy consumption and maintenance costs.
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Portable Air Compressors Market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
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APAC will account for 52 percent of market growth. In APAC, China and India are the most important markets for portable air compressors. The market in this region will increase at a quicker rate than the market in other regions.
Over the forecast period, technological advancements will aid the expansion of the portable air compressors market in APAC.
Furthermore, countries such as the US, Canada , China , India , and Germany are expected to emerge as prominent markets for the Portable Air Compressors Market during the forecast period.
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The manufacturing segment's share of the portable air compressors market would expand significantly. Due to continuous technological advancements and increasing automation at every stage of the production line, the manufacturing industry is likely to increase during the projection period. The demand for electric cars (EVs) in the automotive industry is a trend that is predicted to continue in the near future.
As a result, a number of automakers are developing manufacturing facilities to produce these vehicles. These factors are expected to boost the adoption of the gear and tools needed to manufacture electric vehicles, propelling the portable air compressor market over the forecast period.
View Sample Report: to know additional highlights and key points on various market segments and their impact in coming years.
Key Market Drivers & Challenges:
One of the major factors driving the portable air compressors market is the reduction in energy consumption and maintenance costs. One of the important portable air compressors industry trends that are driving the market growth is the transition to Tier 4 engine technology. However, one of the factors impeding the portable air compressors market's growth is global oil and gas price uncertainty.
Download Sample Report for highlights on market Drivers & Challenges affecting the Portable Air Compressors Market.
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Portable Air Compressors Market Scope
Accelerate at a CAGR of 3.51%
APAC, North America, Europe, South America, and Middle East and Africa
US, Canada, China, India, and Germany
Leading companies, Competitive strategies, Consumer engagement scope
Atlas Copco AB, BAC Compressors, BAUER COMPRESSORS INC., Doosan Portable Power Co., Draper Tools Ltd., Elgi Equipments Ltd., Hitachi Ltd., Hubei Teweite Power Technology Co. Ltd., Ingersoll Rand Inc., KAESER KOMPRESSOREN SE, Kaishan Compressor USA, MAT Holdings Inc., Metabowerke GmbH, Mi T M Corp., Remeza JSC, Rolair systems, Satnam Pumps and Electricals, Stanley Black and Decker Inc., Sumake Industrial Co. Ltd., and Universal Air and Gas Products Corp.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
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