Reciprocating Air Compressor Market is estimated to surpass $6 billion by 2024

Global Reciprocating Air Compressor Market Report offers market size, share, overview, segmentation by types, application, countries, key manufactures, cost analysis, industrial chain, sourcing strategy, downstream buyers, marketing strategy analysis, distributors/traders, factors affecting market, forecast and other important information for key insight.

The escalating mining and oil exploration activities, increasing demand for automobiles, rising disposable incomes which have enhanced the requirement of home appliances, and the recent developments in power generation sector have had a significant influence on the growth prospects of reciprocating air compressor industry. In fact, as per a research report compiled by Global Market Insights, Inc., the remuneration portfolio of market stood at a robust USD 5 billion in the year 2017.

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Making swift headways in the HVAC and construction industry, the reciprocating air compressor market has continued to garner enormous popularity across several business verticals. The latest expansion effort can be termed as a crucial development for the firm, as this is the first time the renowned manufacturer of oil filters, air compressors, and other spare parts has expanded with a new complex in the United States in the last 18 years. Reportedly, the management of the firm decided to expand the Princeton facility toward the east given the fact that the existing plant has been performing exceptionally well with the number of shipments swelling each year.

The application segment of this business sphere is anticipated to be led by the home appliances sector by 2024. Owing to the massive utilization of air compressors in air conditioners and refrigerators in the households, the reciprocating air compressor industry has witnessed a drastic jump in its recognition across the global home appliances domain. As per reliable estimates, the home appliances segment would apportion over 70 percent of the volume share of the overall application spectrum of reciprocating air compressor market in the ensuing seven years of time span.

The rather encouraging and proactive initiatives that are being under taken by the established market contenders to expand their sphere of influence across the world would augur well for the overall reciprocating air compressor industry space. With the growing acceptance of air compressors across numerous business verticals such as energy, food & beverages, healthcare, manufacturing, semiconductor & electronics, oil & gas, and home appliances, the commercialization graph of reciprocating air compressor market is overt to witness massive surge in the coming years. The global share is estimated to surpass USD 6 billion by 2024.

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Keeping pace with its rapid penetration in the overall HVAC and construction industry, Ingersoll-Rand plc, a world leader in manufacturing sustainable and efficient reciprocating air compressors, concluded the acquisition of MB Air Systems Limited in 2017.  Industry experts have understandably termed that the latest takeover is of immense significance for Ingersoll-Rand, as it would strengthen the firm’s comprehensive service and supply capabilities along with the opening up of the opportunity to enhance its footprint across the United Kingdom reciprocating air compressor market.

Speaking along similar lines, Atlas Copco, regarded as one of the major firms partaking in the reciprocating air compressor market, has recently completed the acquisition of the UK-based Water Filtration Limited. Reportedly, the firm, which manufactures high-efficiency equipment for the treatment of compressed air, gas, and vacuum, would continue to operate under the Walker Filtration brand. However, it will be an important component of the Medical Gas division of Atlas Copco’s Compressor Technique business vertical and would undoubtedly assist Atlas Copco to consolidate its stance in the fast-evolving market space.

 

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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