Centrifugal Air Compressor Market is anticipated to gain phenomenal growth over 2019 – 2024

Global Market Insights has recently added a report on Centrifugal Air Compressor Market which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of this industry. The report also highlights the major challenges and current growth strategies adopted by the prominent companies that are a part of the dynamic competitive spectrum of this business sphere.

Rising number of manufacturing facilities and growing food & beverage, oil & gas, energy, and electronics sectors will positively influence the demand for centrifugal air compressor market in coming years. Asia Pacific has consistently been the most substantial automotive market involving both production and consumption. In addition, robust growth in the manufacturing sector, particularly in Asia Pacific, indicates a strong potential for centrifugal air compressors market by 2024. For instance, over the last 20 years, Asia Pacific region has been contributing about 40% of the manufacturing sector.

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Compressors that meet the noise requirements without using a complete sound enclosure are generally preferred by the manufacturers. This is due to the high cost associated with sound enclosures. Another reason is that sound enclosures make access to the compressors difficult for maintenance. This can be a limiting factor in the centrifugal air compressor market growth as government agencies of various countries have formulated regulations regarding the level of noise emitted from air compressors.

Significant industry participants are:

  • Atlas Copco
  • HATCO company
  • Hitachi Ltd.
  • Kirloskar Pneumatic Co. Ltd.
  • Kobelco Compressors Inc.
  • Dresser-Rand

The market players have been focusing on expansion through strategic acquisitions to attain the competitive superiority. For example, Sullair LLC was acquired by Hitachi in the second quarter of 2017. The company achieved significant synergies from this acquisition including the strong sales network of Sullair LLC in North America.

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Centrifugal Air Compressor market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume in kilotons & revenue in USD million from 2013 to 2024, for the following segments:

Centrifugal Air Compressor Market by Product:

  • Portable
  • Stationary

Centrifugal Air Compressor Market by Casing:

  • Horizontally split
  • Vertically split

Centrifugal Air Compressor Market by End-user:

  • Food & Beverages
  • Oil & Gas
  • Energy
  • Semiconductor & Electronics
  • Manufacturing
  • Healthcare
  • Others

Centrifugal Air Compressor Market in Asia Pacific has generated over USD 3 billion revenue in 2016. The region held the largest share in 2016 and is projected to observe a parallel growth trend by 2024. The region’s massive share will be accredited to the enormously growing manufacturing sector in China, Korea, India, Southeast Asian nations, etc. Centrifugal air compressors have been expansively used in various power, hydroelectric, nuclear, thermal, and power plants and diesel-engine generators.

Related News: https://www.marketwatch.com/press-release/air-compressor-market-report-2019-2024-study-by-application-products-and-material-2019-04-17