Published Date: 13-Oct-2021
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According to a new report Global Air Compressor Market, published by KBV research, The Global Air Compressor Market size is expected to reach $41.8 billion by 2027, rising at a market growth of 4.7% CAGR during the forecast period.
By type, the portable air compressor segment would display the highest growth rate during the forecasting period. This is due to the increase in the adoption rate of these products in construction & mining activities. These portable air compressors are considered as the safe power source for machines and tools in the construction sector and various other industries. Moreover, these compressors need a low amount of maintenance and have simple handling; hence their demand is witnessing a constant surge in low-duty applications.
Based on application, the oil and gas segment would showcase the highest growth rate over the forecast years. Factor like huge demand for air compressors for the re-injection of reservoir pressure preservation is responsible for the growth of this segment. As per the Russian Regulation, there is an urgent need to compress the associated petroleum gas for the initial treatment of crude oil before transporting it through the pipeline. These regulations would create bright growth prospects for the segment.
In 2020, Asia-Pacific garnered the prominent revenue share of the air compressor market. This is credited to the increase in the focus of government towards infrastructure development and rising industrialization. Moreover, the increasing demand for air compressors from numerous applications like manufacturing, food & beverage, oil & gas industries, home appliances is one of the factors boosting the growth of the regional market.
Full Report: https://www.kbvresearch.com/air-compressor-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.).
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