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Technavio has announced its latest market research report titled Air Compressors Market by Product and Geography - Forecast and Analysis 2021-2025
Technavio has announced its latest market research report titled Air Compressors Market by Product and Geography - Forecast and Analysis 2021-2025
NEW YORK , July 25, 2022 /PRNewswire/ -- An air compressor is a distinct type of gas compressor. It is a device that compresses and pressurizes air to convert power into kinetic energy.
The global air compressors market size is expected to grow by USD 6.93 bn from 2020 to 2025, according to Technavio. Moreover, the growth momentum of the market will accelerate at a CAGR of 3.95% during the forecast period.
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Air Compressors Market Geography Outlook (Revenue, USD bn, 2020-2025)
Air Compressors Market Product Outlook (Revenue, USD bn, 2020-2025)
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APAC is expected to account for 50% of the market's growth during the forecast period. This is attributed to factors such as a surge in HVAC installations. Moreover, this region will grow at a fast rate when compared to other regions. China and Japan are the key countries for the air compressors market in APAC.
Major Air Compressor Companies and their Offerings
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The increased adoption of variable speed controllers is driving the growth of the market. A variable speed drive (VSD) allows air compressors to run at a uniform speed, irrespective of the application's requirement. This can help end-users save energy. Air compressors with variable speed controllers have sensors embedded in them, which can detect a wide range of variables such as temperature and pressure.
Fluctuations in raw material prices will challenge the growth of the market. Aluminum, steel, and castings are the main raw materials used in the production of compressors, the prices of which fluctuate frequently. Vendors are unable to pass on the excess cost to the end-users, which reduces their profit margins.
Portable Air Compressors Market by End-user and Geography - Forecast and Analysis 2022-2026
Gas Compressors Market by Product and Geography - Forecast and Analysis 2021-2025
Accelerate at a CAGR of 3.95%
APAC, North America, Europe, South America, and MEA
China, US, Japan, and Germany
Leading companies, Competitive strategies, Consumer engagement scope
Atlas Copco AB, Deere & Co., Doosan Portable Power Co., General Electric Co., Hitachi Ltd., Ingersoll Rand Inc, KAESER KOMPRESSOREN SE, Kobe Steel Ltd., Mitsubishi Heavy Industries Ltd., and Siemens AG
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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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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