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Reciprocating Air Compressor Market is anticipated to reach over $6.4 Billion by 2024

Author : Rahul Varpe | Published Date : 2019-04-18 

Global Market Insights provides a detailed overview of Reciprocating Air Compressor market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Reciprocating Air Compressor market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

Reciprocating Air Compressor Market in Mexico will seize over half of the volume share in 2024 due to mature household and food & beverage industries coupled with significant growth in manufacturing industry. This in turn will positively influence the Latin America market throughout the forecast period. The market will surpass USD 6.4 billion by 2024; according to a new research report by Global Market Insights, Inc.

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Rapid industrial development in the Asian countries will propel the reciprocating air compressor market they are widely used in various industries including food & beverage, oil & gas, energy, electronics, manufacturing, etc. Asia Pacific has been witnessing a healthy industrial development over the past few decades with the region accounting close to 40% of the global output. Automotive, electronics, manufacturing, and mining activities have witnessed a sharp growth in the last decade. The region's lower labor prices, easy raw material availability, and rising commodities demand have transformed it into a manufacturing hub of the entire world.

Stationary product type is expected to dominate the reciprocating air compressor market over the predicted time. This is owing to the high strength, efficiency, low oil level switch, automatic tank drain, and other superior features of the product. Significant demand for the product from automotive, manufacturing and other end-use industries will boost the segment demand by 2024.

Reciprocating Air Compressor Market is categorized into single and double acting technology-based air compressor. From these, single-acting will hold more than one-third share of the complete segment by 2024 owing to its wide acceptance and usage in automotive workshops and also used for household purposes.

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The industry is split into lubrication type which include oil filled and oil free. Oil filled segment will capture more than half of the whole share in 2024 owing to its superior mechanical features coupled with substantial use in manufacturing and industrial areas.

Home appliances application segment will capture more than half volume share in the application segment in coming years. This is all due to its extensive usage in air conditioners, freezers, refrigerators and other household appliances. Development in home appliances industry will boost the reciprocating air compressor market in the forecast timeframe.

Atlas Copco, Quincy Compressor, Elgi Compressors, Emersion Climate Technologies, Gardner Denver, Sullair, Ingersoll-Rand, Kaeser Kompressoren, and Frank Technologies are the major players in reciprocating air compressor market.

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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. He can be contacted at- [email protected] | https://twitter.com/varperahul

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