DUBLIN , Aug. 15, 2022 /PRNewswire/ -- The "Compressors and Vacuum Pumps - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Compressors and Vacuum Pumps Market to Reach $43.6 Billion by 2026
The global market for Compressors and Vacuum Pumps estimated at US$35.4 Billion in the year 2022, is projected to reach a revised size of US$43.6 Billion by 2026, growing at a CAGR of 4.6% over the analysis period.
Compressors are the most ubiquitous electromechanical workhorse equipment used widely in homes, commercial establishments, and industries such as heavy machinery, general manufacturing, engineering, water pumping, process industries, mining energy generation, oil and gas exploration and distribution, power plants, petrochemicals, automobile service centers, textiles and chemical industry, among others.
Positive Displacement Compressors, one of the segments analyzed in the report, is projected to record a 4.9% CAGR and reach US$25 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Dynamic Compressors segment is readjusted to a revised 4.4% CAGR for the next 7-year period.
In post COVID-19 period, the compressors and vacuum pumps market is likely to witness moderate business opportunities despite persisting macroeconomic challenges. Some of the opportunities that potentially encourage a moderately higher recovery include diminished apprehensions over China`s near-term growth and upward growth revisions supported by fiscal stimulus policies; and anticipated gradual normalization of economic conditions in most developing and emerging markets worldwide. Marginally recovering commodity and oil prices brightens the outlook for commodity and oil-exporting emerging markets in post COVID-19 period.
Compressor innovations of utmost commercial value will be the development of innovative miniaturized compressors with high pressure-to-mass ratio, vibration resistant compressors, micro compressors for aerospace and medical applications, compressors with noiseless operation even at high pressure, oil-free compressors for hospitals, dental clinics, food or electronic production plants, and innovations in water injected rotary screw air compressors that use water as a lubricant. Also poised to benefit the market is breakthroughs in the design of smart compressors.
The U.S. Market is Estimated at $8.9 Billion in 2022, While China is Forecast to Reach $9.7 Billion by 2026
The Compressors and Vacuum Pumps market in the U.S. is estimated at US$8.9 Billion in the year 2022. China , the world's second largest economy, is forecast to reach a projected market size of US$9.7 Billion by the year 2026 trailing a CAGR of 5.6% over the analysis period.
Among the other noteworthy geographic markets are Japan and Canada , each forecast to grow at 3.5% and 3.8% respectively over the analysis period. Within Europe , Germany is forecast to grow at approximately 4.3% CAGR.
Rotary Vacuum Pumps Segment to Reach $6.1 Billion By 2026
A rotary piston vacuum pump provides high volumetric efficiency over a wide range of pressures. Key application areas of rotary vacuum pumps include petrochemical, chemical, pharmaceutical and manufacturing industries, and other application areas include semiconductor, communications, electronics, food, scientific instruments and vacuum furnace industries.
In the global Rotary Vacuum Pumps segment, USA , Canada , Japan , China and Europe will drive the 4.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.8 Billion will reach a projected size of US$5.3 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia , India , and South Korea , the market in Asia-Pacific is forecast to reach US$686.5 Million by the year 2026, while Latin America will expand at a 4.8% CAGR through the analysis period.
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to the digital archives
Complimentary updates for one year
Compressors and Vacuum Pumps - Global Key Competitors Percentage Market Share in 2022 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
Weak Global Economic Environment & Negative Tide in GDP Forecasts Discourage the Market
Industrial Activity to Remain Subdued in the Immediate Term, Inducing Weakness into the Market
Ubiquity of Compressed Air Usage in Industries Worldwide (in GWh/Year)
Types of Compressors and Vacuum Pumps
2. FOCUS ON SELECT PLAYERS (Total 509 Featured)
Strong Pressure to Cut Carbon Footprint Drives Demand for New Generation of Energy Efficient Compressors & Vacuum Pumps
High Compressor Energy Costs Drives Demand for Energy Efficient Compressed Air Systems: Annual Compressor Energy Costs (in US$) by Horsepower (HP) Generated
Industrial/Commercial Refrigeration & Food Processing Industry Drives Demand
Development of Piped Energy Networks Fuels Demand for Compressor Stations
Oil & Gas Pipeline Activity Worldwide: Under Construction and Planned Pipeline Miles by Region
Amidst the COVID-19 Outbreak, Oil & Gas Sector Confronts Challenging Times
Demand for Energy Drives Opportunities for Compression Solutions in Power Generation Plants
Global Energy Production by Energy Source (2030 & 2040): Breakdown of Electricity (Billion Kilowatt Hours) and Percentage Share for Petroleum, Nuclear, Natural Gas, Coal and Renewables
Commercial Rise of Compressed Air Energy Storage Technology & Plants to Fuel Demand for Compressors
Semiconductor & Electronics Industry Drives Demand for Instrument Air Compressor
Slowdown in Semiconductor Sector Impacts Growth
Recovery in Automobile Production Trends to Drive Demand for Compressed Power Air in Auto Manufacturing Plants
COVID-19 Impact on Automobile Industry
Commercial Aircraft Production and Prospects for Compressors in the Aerospace Sector
COVID-19 Pandemic Dents Airline Revenues
COVID-19 Leaves Engine MRO Market in Turmoil
Focus on Quality of Care Drives Demand for Innovative Medical Air Compressors and Vacuum Systems
Sought After Features For Medical Compressors
Focus on Quality of Compressed Air Drives the Popularity of Oil-Free Compressors & Vacuum Pumps
The Rising Wave of IIoT & the Ensuing Focus on Automation & Remote Monitoring Throws the Spotlight on Smart Compressors
Automation to Play a Critical Role Post COVID-19
Variable Speed Drive Technology to Improve Compressor Speed
Manufacturers Offer Smart Solutions for Vacuum Pumps
For more information about this report visit https://www.researchandmarkets.com/r/c21b5o
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