Rotary Scroll Air Compressor Market Size, Industry Analysis Report, Regional Outlook (Americas, Europe, APAC and EMEA), Application Development status, Price Trend, Competitive Market Share & Forecast, 2019-2025.
Rotary Scroll Air Compressor Market size is likely to cross USD 5.5 billion by 2024, according to research conducted by Global Market Insights, Inc. Growing demand for residential air conditioning systems driven by rising temperatures and thriving construction industry will propel the rotary scroll air compressor market over the forecast timeframe. The number of chronic diseases is increasing and generating huge demand for medical systems & equipments. Oil-free segment is expected to grow with a CAGR more than 3% owing to increasing demand from home appliances, medical & pharmaceutical industry and food & beverage industry. Oil-filled segment will clutch over 10% volume share by 2024.
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Rotary scroll air compressors are widely used in food and beverage industry for food processing and packaging applications, they provide clean and dry air to ensure the product quality. Increasing population, changing lifestyles and time constraints for meal preparation in urban families are leading to the surge in demand of ready-to-eat food & beverage products, thus exhibiting promising future trends for the market. The product will gain popularity due to continuous operations, low noise & vibration levels and energy-efficient operations in upcoming years.
High purchasing cost associated with the product may hinder its market growth over the forecast period. Additionally, stiff competition from screw and piston compressors in heavy duty applications will restrain the product market growth over the coming years.
Based on application, the rotary scroll air compressor market is divided into home appliances, food & beverage, medical & pharmaceutical, automotive & transportation, biotechnology and others. Others include semiconductor & electronics, commercial printing, etc. Food & beverage segment is poised to grow with a CAGR more than 3% due to changing consumer’s preferences to buy convenience foods rather than making traditional long cooked meals.
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Asia Pacific region will be a major market for rotary scroll air compressors as the demand of processed foods is increasing due to rising population especially in countries such as China and India along with increasing purchasing power. The upsurge in the demand for air conditioning systems from residential and commercial buildings will upscale the product demand in future. North America will capture more than a tenth of the global revenue share due to favorable trends associated with medical & pharmaceutical industry.
The prominent players in rotary scroll air compressor market share are Atlas Copco, Gardner Denver, Inc., Boge Compressors, Emerson Climate Technologies, Inc., Sullair, LLC, Ingersoll-Rand plc., etc.