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Air Compressor Market 2020| Business Scope for the Forecast period 2026

Author : Rahul Varpe | Published Date : 2020-09-04 

Increasing global demand for industrial refrigeration chillers is set to drive the global air compressor market growth over the forthcoming timeframe. Increasing prominence and popularity of cold chain supply throughout the world would further complement the overall market size in coming years.

Air compressors are easily available and can with multiple configurations which are capable of providing a diverse range of supply pressures, which is expected to increase their deployment over time. Apart from compressors with different supply pressures, air compressors that come with other design characteristics that decrease maintenance costs and also have a lower number of environmental hazards are experiencing tremendous demand over the past couple of years.

Meanwhile, the market is also slated to grow exponentially due to the innovations in high-capacity portable air compressors providing better versatility and performance.

Considering these growth factors, new estimates the global air compressor market is expected to surpass the valuation of $107.56 billion through 2026.

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How is the growing food and beverage sector shaping the growth of the air compressor market? 

Evolving buying patterns of consumers and growing demand for perishable and packaged food items are set to drive the food and beverages sector in the near future. In fact, the food and beverage sector is projected to grow at a CAGR of more than 6% through the forthcoming timeframe.

Refrigerant compressors are witnessing rising deployment in the F&B sector in order to maintain and preserve food items for a longer period of time in warehouses and cold storage areas.

Additionally, increasingly flourishing regional food processing warehouses and plants and further augmenting the need for preserving food items, which would substantially propel the product demand during the analysis timeframe.

Why are the air compressors witnessing a rising demand in Latin America?

Latin America air compressor market is anticipated to observe significant growth over the coming years due to rising product utilization throughout manufacturing processes of industrial machinery and goods as well as for power tools clamps, monitoring equipment, and air chucks.

The manufacturing sector in the region is witnessing substantial expansion owing to easily available raw materials, cost-effective labor, and abundance of land, which would further complement the overall market demand in coming timeframe.

Regional regulatory initiatives and new plans to support the proliferation of manufacturing units and industrial hubs would further provide a growth impetus for air compressors. The Latin America air compressor market is anticipated to grow at a healthy CAGR of 3.4% over 2020-2026.

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How will heavy duty centrifugal air compressors drive the growth of the air compressor market?

With respect to product segment, heavy-duty centrifugal air compressors are likely to record tremendous demand. These devices are used in the areas that need high power output capacities and air pressure. Some of these areas are manufacturing, oil and gas, construction, energy, and mining among others.

These air compressors are expensive due to their operational and manufacturing complexities, higher efficiencies, and bulky nature. Growing investments for the development of mining and construction activities should positively influence the overall market share during the projected time period.

 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. [email protected] | https://twitter.com/varperahul

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