NEW YORK , Aug. 23, 2022 /PRNewswire/ -- According to the latest market research study published by P&S Intelligence, the air compressor market size is set to be $45,888.0 million in 2030, compared to $30,366.3 million in 2021, witnessing a CAGR of almost 5% during this decade. This is attributed to the high pace of industrialization, technological advancements in such devices, and rising demand for eco-friendly compressors.
The stationary category held an almost 60% share in the market in 2021, as the airflow these variants offer is greater than their portable counterparts, which increases the preference for the former in major manufacturing applications.
Get the sample pages of this report: https://www.psmarketresearch.com/market-analysis/air-compressor-market-report/report-sample
The demand for portable variants is expected to rise faster as they are easier to carry around. Moreover, advanced portable air compressors generate not only lower noise but also cleaner air. Additionally, their operations are much more efficient, and they are cost-effective as well.
The rotary classification leads the product segment of the air compressor market as these variants have a robust build and efficient operations. Moreover, their usage is driven by the government initiatives to boost the energy efficiency and output of air compressors, in general.
Manufacturing remains the largest application of these machines because a lot of industrial processes require high-pressure air. Some common applications of these devices in the manufacturing sector are pneumatic nail guns, sandblasters in machine shops, gas tank molding, cutting & welding equipment, and automobile spray painting.
The highest air compressor market CAGR, of more than 6%, is expected in semiconductor & electronics applications, on account of the importance of compressors in cleaning circuit boards, removing chemical deposits from wafers, and cleaning air knives during the production of LCD panels.
In the coming years, oil-free variants will observe the faster rise in demand, at an over 35% CAGR, as the elimination of the oil separator makes them cost-effective and lighter. Moreover, the green and sustainability efforts of governments worldwide are making them preferable across industries.
Because of all these reasons, the APAC region is the largest air compressor market, with a value of over $9,911 million in 2021. The region is home to the largest manufacturing and semiconductor & electronics industries, which leads to a high demand for compressors for various purposes. Other major regional sectors that use these machines are food & beverage, home appliances, healthcare, oil & gas, and energy.
Browse detailed report on Global Air Compressor Market Size and Growth Forecast Report, 2030
Europe generates the second-highest revenue in the market because governments have implemented stringent regulations on the energy efficiency of compressors. Together, the U.K. and Germany hold an around 55% share of the regional market owing to the presence of major automotive OEMs and a strong renewable energy sector.
Such developments have made the air compressor market highly lucrative for companies such as Atlas Copco AB, Hitachi Ltd., Mitsubishi Heavy Industries Ltd., Kirloskar Pneumatic Company Limited, Doosan Infracore Portable Power, and Siemens AG.
Air Compressor Market Report Coverage
Browse More Reports Published by P&S
Compressor Market Size Analysis and Growth Forecast to 2030
APAC Compressor Market Size Analysis and Growth Forecast to 2030
About P&S Intelligence
P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.
Contact: Prajneesh Kumar P&S Intelligence Phone: +1-347-960-6455 Email: enquiry@psmarketresearch.com Web: https://www.psmarketresearch.com Follow Us: LinkedIn Twitter
Logo: https://mma.prnewswire.com/media/1224988/P_and_S_Intelligence_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/over-15-billion-growth-predicted-in-air-compressor-market-by-2030-says-ps-intelligence-301610620.html
SOURCE P&S Intelligence
Homeowners beware. But don't panic, either.
On Wednesday, the Fed bumped up interest rates again, its third 75-basis point hike since June, and signaled that there could be two more such hikes by the end of this year. The conventional wisdom has the Fed acting properly, and aggressively, in an attempt to counter inflation raging at 40-year high levels. But conventional wisdom isn’t always right – and we can learn a lot by consulting the contrarians. Few top investors are more contrarian than Cathie Wood. The founder and manager of ARK Inv
KEY WORDS “I think we’re giving Powell too much praise. … The last two years are one of the biggest policy mistakes in the 110-year history of the Fed by staying so easy when everything was booming.
And what it means for your wealth-building options.
You have just a few weeks to pounce on Treasury I bonds' sky-high interest rate. Also called Series I savings bonds, their interest rate is 9.62%.
The shipping company has developed a reputation as one of the best dividend stocks around
“We printed up too much money, and just thought the party would never end,” Icahn said, adding that with the Fed raising rates to fight inflation, "the party's over."
At a companywide all-hands meeting this week, Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) chief Sundar Pichai juggled tough questions from employees regarding cuts to travel and entertainment budgets, managing productivity, and potential layoffs. Employees questioned why Google is "nickel-and-diming employees" by cutting travel and swag budgets despite record profits and substantial cash reserves as it did after the pandemic. Pichai emphasized acting responsibly to tide through such critical sit
Yahoo Finance's Julie Hyman discusses Tesla's vehicle recall and latest legal news.
In this article, we will look at the 4 stocks billionaire Leon Cooperman is talking about right now. If you want to skip reading about Leon Cooperman, his investment career, and his stock-picking strategy, you can go directly to Billionaire Leon Cooperman is Talking About These 2 Stocks. Leon Cooperman’s Investment Career Leon Cooperman is […]
Workers questioned Google execs earlier this year after the company's 'Googlegeist' survey results came out.
Multiple insiders secured a larger position in Intel Corporation ( NASDAQ:INTC ) shares over the last 12 months. This...
The hedge fund legend has spoken. Pay attention.
Warren Buffett’s long-term investment strategy has proven to be successful through virtually all market conditions over the past several decades – recession, high inflation and deflation. If there’s one thing that’s made Buffett one of the most successful investors in history, it’s his commitment to his strategy. A countless number of new investment techniques and algorithms have come and gone over the years, but Buffett has maintained his relatively simple strategy of picking solid companies an
Yahoo Finance reporter Alexandra Semenova breaks down Cathie Wood's decision to hand off her role as portfolio manager on two ETFs.
Forget everything you think you know about the relationship between interest rates and the stock market.
As much as stocks are falling, moves in another financial market have even more profound implications for the global economy.
Word spread quickly yesterday that almost 1.1 million Tesla (NASDAQ: TSLA) vehicles were being recalled. At the morning's lows, Tesla shares were down just shy of 5%. The stock market isn't always efficient, but simple math indicates that the recall isn't the reason Tesla shares have dropped for a second straight day.
Boise, Idaho; Philadelphia; Pensacola, Fla.; Austin; and Reno, Nev.; Minnesota; and Utah are the housing markets with the most buyer pullback, says one home builder.
Crypto markets are down sharply after Fed Chair Jerome Powell and JPMorgan CEO Jamie Dimon both voiced regulatory concerns earlier this week.