Rapid industrialization witnessed in developing nations is the chief driver of the global air compressor market. An air compressor is used to convert power from electrical motor into kinetic energy. This conversion is achieved by compressing the air present within, which is released on quick bursts. Some of the most commonly used method of air compression are negative displacement and positive displacement technologies.
For the purpose of the study, the report segments the global air compressor market based on type, lubrication method, technology, and region. By type, stationary and portable compressors are the key segments. The most commonly used air compression technologies include centrifugal, reciprocating, and rotary. In terms of lubrication method, the global air compressor market can be segmented into oil-free air compressor and lubricated air compressors.
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The report studies the factors affecting the global air compressor market across all its aforementioned segments. In addition it studies the impact of Porters’s five forces to gauge the bargaining power of suppliers and buyers. The analysis also presents valuable insights into the threat from substitute and new entrants and the degree of competition prevailing in the market. Based on result obtained from Porter’s five forces and other analyses, the report predicts refined outlook for the global air compressor market. Information thus compiled in the report could help stakeholders gain better perspective about the market and assist companies, existing and new entrants alike, to create more informed strategies for tangible results.
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Global Air Compressor Market: Drivers and Restraints
The advent of energy efficient models of air compressors, which are also available in portable designs, has been extensively adopted by industries around the world. The recent technology promises substantial reduction in maintenance costs, which is why it is received by a significantly large number of buyers hailing from diverse industrial backgrounds. However, for those who are stuck with more conventional models are continuing to deal with noisy operations of oil-free compressors and lubrication concerns in oiled air compressors.
Nevertheless, with efforts by the leading players underway, the market will soon witness the launch of more efficient air compressors, which will help mitigating concerns pertaining to noise and air contamination prevalent in their traditional counterparts. Furthermore, the potential innovations in the technology would boost the higher uptake of air compressors in the construction industry, especially across developing countries. This would enable enterprises operating in the global air compressor market rake higher profit in the forthcoming years.
Global Air Compressor Market: Regional Outlook
Regionally, Asia Pacific, North America, Europe, and Rest of the World constitute the key segments in the global air compressor market. As oil and gas industry is one of the large contributors to the market, the countries exhibiting a strong infrastructure in the same will prove most lucrative markets for air compressors. In this regard, opportunities existing for the market in Asia Pacific will thus continue being lucrative over the course of the forecast period.