COMPRESSOR MARKET SIZE, SHARE, TRENDS, DEMAND AND GROWTH FORECAST TO 2023

The global compressor market is growing, due to energy efficiency of compressors, increased automation in plants, variation in pressure supplied, low maintenance requirement, and multiple fuel options. The emergence of next-generation compressed air systems and eco-friendly features of new technologies in the compressors are providing ample opportunities for the growth of the global compressor market in the coming years.

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The Asia-Pacific compressor market is expected to grow with the fastest rate in the coming years, due to increasing infrastructure spending, and growing manufacturing facilities. The compressor markets of Middle East, Africa, and Latin America are also expected to grow in the coming years, due to the growing awareness for eco-friendly products and changing regulatory scenario.

Compressors are used to compress gas and air, from an initial low pressure to a higher final pressure. The compressor converts mechanical energy into pneumatic energy through compression, with the use of vanes, pistons, and other mechanisms. Steel, aluminum, and castings are some of the major raw materials used to manufacture compressors.

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On the basis of inputs used, the global compressor market can be categorized, as gas compressors or air compressors. The air compressor market can also be categorized on the basis of types, as centrifugal air compressors and positive displacement air compressors. On the basis of mobility factor, the compressor market can be categorized as stationary and portable. In construction and mining activities, portable products are generally used.

On the basis of end users, the global compressor market can be categorized as chemicals, pharmaceuticals, cement, foundries and forge shops, glass, construction, plastic processing, automotive manufacture and textiles. The global compressor market can also be categorized as per the requirement of the applications, into horizontal or balanced opposed, single or multistage, lubricated or non-lubricated compressors, electric driven or diesel engine driven, and air-cooled or water-cooled.

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Some of the competitors in the global compressor market are Accudyne Industries LLC, Gardner Denver Inc., Ingersoll-Rand PLC, Kaeser Compressors Inc., Mitsubishi Heavy Industries Ltd., Shanghai Screw Compressor Co. Ltd., Atlas Copco AB, Zhejiang Hongwuhuan Machinery Co. Ltd., and Wuxi Compressor Co. LTD.

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