The Europe Air Compressor Market would witness market growth of 4.3% CAGR during the forecast period (2021-2027).
The demand for unique compressors has been increased across several applications as they provide cost-saving techniques and reduce the requirement for supplementary devices. The demand for energy-efficient air compressors would be driven by the surge in the preference of consumers towards total solution and lifecycle cost. Moreover, the growth of the market would be propelled by the growing adoption of compressed air in industrial power tools.
The air compressor would witness bright growth prospects due to the increase in consumer awareness about the product quality, favorable government policies, and high demand for better air quality. At workplaces, air compressors are needed to follow the Occupational Health & Safety (OHS) norms, which is likely to positively affect the growth of the market during the forecasting period.
Various European countries like Germany, UK, and France are putting heavy investments in cleaner and renewable power generation procedures. Due to this, the power generation industry is witnessing declined demand for air compressors. In addition, economic recession and sluggish industrial growth in the region would adversely affect the demand for industrial air compressors. For example, the demand for air compressors in the upstream oil & gas industry observed a significant decline because of the drop in oil prices.
The high adoption rate of air compressors in industrial as well as personal applications is estimated to fuel the growth of the market in this region. Moreover, the regional players are introducing innovative products in order to cater to the needs of the different industries. Furthermore, growing shale gas exploration activities in the country would increase the adoption rate of air compressors in the regional market. Thus, these factors would boost the growth of the regional market during the forecasting period.
The Germany market dominated the Europe Portable Air Compressor Market by Country 2020, thereby, achieving a market value of $1,416 million by 2027. The UK market is showcasing a CAGR of 4.2% during (2021 - 2027). Additionally, The France market is poised to grow at a CAGR of 4.9% during (2021 - 2027).
Based on Product, the market is segmented into Rotary/Screw, Centrifugal and Reciprocating/Piston. Based on Type, the market is segmented into Stationary and Portable. Based on Lubrication, the market is segmented into Oil-Filled and Oil-Free. Based on Application, the market is segmented into Manufacturing, Retail, Food & Beverage, Healthcare, Oil & Gas, Energy and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Air Compressor Market Size will Hit $41.8 Billion by 2027, at a CAGR of 4.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Atlas Copco, Bauer Group (BAUER COMP Holding GmbH), Cook Compression (Dover Precision Components), Compressor Products International (CPI) (EnPro Industries, Inc.), Galaxy Auto Stationary Equipment Co. Ltd., Gast Manufacturing, Inc. (IDEX Corporation), General Electric Company, Ingersoll Rand Plc, Kaeser Kompressoren SE, and MAT Industries, LLC (MAT Holdings, Inc.).
By Product
By Type
By Lubrication
By Application
By Country
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