Experts believe that the Industrial Air Compressor Market will exceed USD 30 billion in the next six years, paving the way to potential growth opportunities by 2024. Based on the latest research conducted by Global Market Insights, Inc., the continuous increase in the vehicle production in Asian countries will drive the revenue in the fixed industrial air compressor industry.
According to Globe Newswire, the apparent increase in the demand for household appliances in the Asian market region because of the industrial advancement and proliferation in individual income level will also have a positive impact on the demand in production. However, the ratification of portable air compressors running by gas and oil may have an adverse effect on the industry by 2024 due to its lower price compared to fixed air compressors.
On the other hand, some experts at Air Energy believe that both compressed air tanks and industrial air compressors are the main driving force in several processing and manufacturing industries. These machines supply the energy to power the operation and yet is often overlooked in today’s processes.
The latest research conducted about the Industrial Air Compressor business covers the test and limitations for major companies, including the calculating market beginnings and leanings. It also emphasises on the profusion of standardised and cross-practicality equal measurements which includes the dispersion and income forecast data of the entire industry together with its deals.
The global market for the air compressor industry is divided into different categories according to the application, technology, and lubrication. Each segment is subdivided into various categories which break down the estimated revenue of the global air compressor business.
According to the lubrication category, the industry is divided into oil filled and oil-free air compressors which oil-free products expected to generate over USD 9 billion by 2024. Meanwhile, the international air compressor business based on the application has various subcategories including food and beverage, energy, healthcare, and the manufacturing segment which is expected to generate at least USD 8.5 billion in the next six years due to the boundless consumption of the compressed air in both monitoring and operating equipment.