The Latin America, Middle East and Africa Air Compressor Market would witness market growth of 7% CAGR during the forecast period (2021-2027).
Advanced air compressors will play a crucial role in boosting the growth of the global market as market players are constantly bringing developments and integrate the latest innovations in their products. Innovations such as superior speed and declined energy needs would facilitate the air compressor manufacturers to maintain their market position during the forecast period.
In addition, air compressors that are developed to endure the severe environments of drilling locations and maintain superior efficiency for the long run are crucial. As the demand for energy for compressor systems is huge, appropriate scrutiny and routine maintenance can dramatically decrease energy costs and enhance operating efficiency. Therefore, these improvements in air compressors by the market vendors are expected to fuel the growth & demand of air compressors in the global market.
As the region is popular for its oil & gas industries, it has been witnessing massive demand for air compressors in the past few years. The surge in the market demand for these compressors has also fueled the demand for the device required in the extraction and refinement of crude oil. While some countries have lower costs of production, the raw materials required for manufacturing are also influencing the global air compressor market.
Crucial materials such as steel and aluminum are utilized for developing air compressor parts. However, with the increasing demand, the costs of raw materials would also change. The massive demand for oil and oil-based products has encouraged technological advancements in drilling technologies and in refinement processes. Due to this, air and gas compressors have become a crucial part of delivering the required pressure levels for these operations and their demand would boost further within the oil and gas industry over the forecasting period.
The Brazil market dominated the LAMEA Healthcare Air Compressor Market by Country 2020, thereby, achieving a market value of $62.3 million by 2027. The Argentina market would witness a CAGR of 9.3% during (2021 - 2027). Additionally, The UAE market is expected to witness a CAGR of 8.4% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Air Compressor Market is Predict to reach $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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