North America will be an important region in stationary air compressor market owing to the rise in oil & gas exploration in the region. A mature manufacturing sector in the U.S. will also be a major growth enabler for the regional industry. The North America stationary air compressor market revenue exceeded USD 2.5 billion in 2017 and will grow by a stable rate during the study period.
Stationary Air Compressor market will surpass USD 30 billion by 2024; according to a new research report. Increasing demand for household refrigerators and air conditioners will be a major growth enabler for the stationary air compressor market as the product is an integral part of these household appliances. Home appliances demand has been increasing at a fast rate, mostly in emerging economies of Asia Pacific and Latin America. Rising income levels of consumers in these regions has been the main reason behind a spurt in home appliances demand.
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In 2016, Asia Pacific accounted for more than 40% of the global consumer appliances sales in terms of volume with India, Indonesia and Vietnam registering stronger demand than other countries. This high demand has been further propelled by trends such as continued urbanization, developments in electricity infrastructure as well as rise in property ownerships in the Asia Pacific countries. Such developments in home appliances sector will fuel demand for stationary air compressors to be used in air conditioners and refrigerators during the study period.
APAC accounted for more than 50% of the worldwide production of automotive in 2016. Automotive production rates have been rising in several countries of Asia Pacific such as India, China, Vietnam, etc. These factors will result in increased product demand in the Asia Pacific region for use in automotive manufacturing and will augment the stationary air compressor market development during the study period.
Global automotive industry growth will also positively impact the stationary air compressor market development till 2024. Increasing vehicle production in the Asia Pacific region will boost stationary air compressor’s demand as they an integral part of every car air conditioner. The product is also used to power air brakes of heavy duty automobiles as well as commercial vehicles.
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Stationary Air Compressor Market research report presents significant information on the methodology deployed to conceptualize the study in question, by means of various primary and secondary sources. The scope of the report and the elements contained in the same with respect to the growth spectrum of the market has been discussed in the study. Also mentioned in the document are details pertaining to the financial data of the companies profiled in the report, in addition to the currently prevalent price trends of the stationary air compressor market.
Oil-filled stationary air compressors market will be augmented by their increasing usage in a wide range of end-user industries such as power plants, mining, oil & gas, etc. The segment’s revenue in 2024 will exceed USD 14 billion as their advantages over oil-free stationary air compressors such as low maintenance costs and high efficiency & capacity will result in a substantial growth rate in the study period.
Food & beverage is a key application segment in the stationary air compressor market which is likely to grow by a CAGR of around 3% in the forecast period. Mostly the oil-free types are employed in this industry as they lower the chances of food contamination.
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Some of the major stationary air compressor market participants include Atlas Copco, Ingersoll-Rand, Kaeser, Rolair Systems, Gardner Denver, Bauer Compressor, Sullivan-Palatek, etc. The industry is also characterized by the presence of several medium-scale manufacturers spread across the globe.
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