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Industrialization is gaining momentum in developing nations such as China, India, Russia, and others. The demand for industrial air compressors market is projected to surge during the forecast period due to their usage in various industrial applications. What is the Commercial Potential of Industrial Air Compressors? Future Market Insights expects the global industrial air compressor market to expand at over 4.6% CAGR through 2031.
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Also, new investments in the oil & gas sector in Europe and North America is likely to boost the demand for air compressors. Rapidly growing industries and increasing investments for mechanical equipment in developing and developed countries like the U.S., China, India, Germany, and others are driving the market for air compressors. The air compressors market has experienced significant growth in the past few years due to expansion of various end-use sectors. The food & beverage industry has made massive use of air compressors in the past few decades, which is continuously driving the demand for air compressors. Air compressors are also efficient, sustainable and economical solutions for power generation. Industrial air compressors are one of the key components for air separation units, since they provide compression as well as being used for cooling applications at various stages. In that era, the world witnessed many technological advancements in air compressor technologies and working, which drove the sales of air compressors and made them popular in various end uses.
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In the early 1900s, the rise of automobiles and the aviation industry occurred, which gave rise to huge demand for industrial air compressors Market. Air compressors rapidly gained application in various end use sectors. In the mid-1800s, compressor technology was introduced to the world, with its unique features. The history of air compressors is synced with the innovation of bellows used for metal production in 1820s. How Does Historical and Future Outlook for Industrial Air Compressor Market Match Up? The report tracks the global sales of Industrial air compressor market in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the end use industries as well as the industrial air compressor industry. In its new study, ESOMAR-certified market research and consulting firm Future Market Insights offers insights about key factors driving the demand for industrial air compressors.
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With rapid industrialization and increase in investment in mechanical equipment, the demand for industrial air compressors market is expected to witness steady growth between 20. They are widely used to run major industrial and manufacturing equipment, including those that incorporate hydraulic or pneumatic operating components.Īir compressors have gained considerable amount of popularity since their first Introduction and the trend is expected to continue. Industrial air compressor market is projected to be valued at ~US$ 26.7 Bn in 2021.Industrial air compressors are capable of producing pressure to power large-scale, complex systems. Industrial Air Compressor Market Overview