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Air Compressor Market
The growing demand for superior compressed air in sectors such as food and beverage and pharmaceuticals is driving the market demand.
Air compressors are used in industries such as manufacturing, automotive, and healthcare for chores spanning from energizing pneumatic instruments to offering clean air in medical equipment.” - Polaris Market ResearchNEW YORK CITY, NY, UNITED STATES, November 7, 2024 /EINPresswire / -- Our air compressor market report has been prepared using advanced methodologies and research techniques to help businesses make strategic business decisions.
The global air compressor market is expected to reach USD 37.15 billion by 2032, growing at a 5.2% CAGR from 2024 to 2032. It was valued at USD 23.54 billion in 2023. The market is experiencing significant growth and is expected to continue expanding in the coming years.
Market Introduction:
An air compressor is a pneumatic gadget that can fuel an assortment of instruments. Air compressors operate by placing atmospheric air beneath high pressure, flattening the air, and transforming its potential energy into kinetic energy that it reserves in air tank usage. A few most customary uses of air compressors in daily commodities such as refrigerators, air conditioners, and vehicle engines.
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Commercial air compressors can be utilized to stretch tires on construction instruments such as forklifts, scissor lifts, and loaders. They can also be utilized to fuel pneumatic instruments such as jackhammers and nail guns. The growing acquisition of sustainable practices and the move towards electric and hybrid compressor solutions are pushing the air compressor market demand.
Market Drivers and Opportunities:
.Technological Progressions: Technological enhancements arising from the execution of the IoT to improve product performance are among the notable contributors to the augmentation of the market. They are embedded with sensors and data analytics for real-time observing of compressor presentation and are interlinked through IoT, boosting the demand for air compressor market growth.
.Rise in Mobile Air Compressors: The market CAGR is driven by growing demand for mobile and closely packed air compressors. These compressors provide flexibility and potency, permitting workers to productively fuel pneumatic instruments and carry out chores without being restricted by fixed infrastructure.
.Rise in Eco-Friendly Compressors: The market is growing notably because of the growing demand for effective air compressors. This is pushed by the requirement to decrease functional prices and conform to ecological directives.
List of Key Companies in Air Compressor Market:
.Ansell Ltd
.Atlas Copco
.Bauer Compressors, Inc.
.BelAire Compressors
.Cook Compression
.Frank Technologies
.Heyner
.Hitachi Industrial Equipment Systems Co. Ltd.
.Kaeser Compressors
.MAT Industries, LLC
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Segmental Analysis:
.The air compressor market segmentation is based on type, product, lubrication, operating mode, power range, application, and region.
.By product analysis, the rotary/screw segmentation held the largest market share. This is due to minimum noise output, elevated energy productivity, maximal presentation, comfort maintenance, and ongoing functional capacity.
.By lubrication analysis, the oil-free segment is poised to register a significant CAGR. This is due to lesser pollution probability, reduced sustenance, and substitution costs.
Regional Overview:
The research report covers all the major regions and sub-regions of the air compressor market. The study provides market insights into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
.Asia Pacific: Asia Pacific accounted for the largest market share. This is primarily because of speedy industrialization and urbanization in nations such as China and India.
.Europe: Europe is anticipated to witness the fastest CAGR from 2024 to 2032. The region's robust concentration on energy productivity and justifiability, causing industries to acquire effective air compressor solutions, fuels the regional market expansion.
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FAQs:
What is the air compressor market worth?
The market size was valued at USD 23.54 billion in 2023 and is projected to be valued at USD 37.15 billion in 2032.
What is the growth rate of the air compressor market?
The market is projected to grow at a CAGR of 5.2% from 2024 to 2032.
Which region held the largest market share?
Asia Pacific held the largest share of the market in 2023.
Which product segment led the market?
The rotary/screw category dominated the market in 2023.
Browse PMR's Air Compressor Market Report Coverage from Different Publications:
The air compressor industry is expected to reach USD 37.15 billion by 2032, exhibiting a CAGR of 5.2% from 2024 to 2032.
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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Polaris Market Research and Consulting
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