Air compressors are used in numerous industrial and non-industrial processes
across the globe. It enables the supply and control of air and gas by compressing
the gas inside the cylinders with the help of a piston. Air-compressor along with
check-valves regulates the flow of gas according to the requirements in different
industrial processes. Increasing utilization of rotary air compressors in heavy
industrial applications is anticipated to foster the growth of air compressor
market. Further, recent developments of rotary air compressor with new features
are expected to expand the growth of rotary air compressor market.
The global air compressor pump market is estimated to expand at a CAGR of
4.1% over the forecast period i.e. 2016-2023. Further, the global market of air
compressor is projected to garner USD 36.2 Billion by 2021 on account of
increasing adoption of cost-effective production methods to increase profitability.
Asia pacific is expected to dominate the overall market of air compressor during
the forecast period. Robust development and establishments of industries in the
region is expected to be the key factor behind the growth of air compressor
market. China and india are witnessing the augmented demand for air
compressor owing to the rapid industrialization. Moreover, europe region is also
anticipated to witness moderate growth over the forecast period. Presence of
major manufacturing companies in the region is anticipated to strengthen the
market of air compressor.
Technological Advancement & Innovations
Technological advancement associated with air compressor such as high energy
efficiency, reduced weight and portability is fuelling the growth of air compressor
market. Further, price reduction due to technological advancement has triggered