March 07, 2022 09:30 ET | Source: Transparency Market Research Transparency Market Research
Albany, New York, UNITED STATES
ALBANY N.Y., March 07, 2022 (GLOBE NEWSWIRE) -- The global industrial air compressor market is estimated to attain value of US$ 26.6 Bn by 2030. Based on revenue, the global market is predicted to develop at a CAGR of 3.9% during the forecast period, from 2020 to 2030.The usage of air compressors is related with a significant amount of energy consumption. The air compressor market is largely driven by rising consumer awareness regarding energy-efficient designs. Trillion kilowatt-hours of power are consumed yearly by the residential, commercial, and industrial sectors. Consumers are searching for an energy-efficient version that will utilize less energy and reduce their electric bills as well as their carbon footprint. Various governments are enacting strict rules in order to safeguard the environment as well as maintain stable greenhouse gas levels in the atmosphere. Consequently, the global industrial air compressor market is likely to be driven by rising demand for energy-efficient air compressors throughout the forecast period.
Centrifugal air compressors come with distinct benefits that are converting into business potential for producers. Ingersoll Rand, for instance, is marketing its TURBO-AIR® integrally geared and MSG® (multi-stage geared) centrifugal compressors, which provide great design freedom. As a result, to diversify their income streams, players in the industrial air compressor market are reinforcing their supply chains with aftermarkets. They are beefing up their R&D efforts to boost industrial air compressor input capacity, flow, and discharge pressures.
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Centrifugal compressors are progressively replacing older, more expensive compressor types available in the market. These properties of centrifugal compressors are likely to augur well for the global market. As a result, prominent companies with decades of centrifugal experience have an edge over emerging players.
Key Findings of Market Report
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Global Industrial Air Compressor Market: Growth Drivers
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Global Industrial Air Compressor Market: Key Players
Some of the key market players are
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Global Industrial Air Compressor Market: Segmentation
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