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Rotary Scroll Air Compressor Market is expected to grow at a CAGR of 3% by 2024

Author : Rahul Varpe | Published Date : 2019-07-23 

With a vast expanse of applications including home appliances, medical & pharmaceutical, food & beverage, automotive & transportation, and biotechnology industries, the growth prospects for rotary scroll air compressor market are anticipated to remain high. The key features associated with the product like low sound and vibration, high reliability and efficiency and low cost for maintenance is slated to attract added market growth in the ensuing years. In terms of commercialization, global rotary scroll air compressor market size is estimated to exceed a valuation of USD 5.5 billion by 2024.

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Surging demand for cooling systems in residential and commercial spaces along with rising global population will propel rotary scroll air compressor market growth over the coming years. Air conditioners (A/C) have certainly become an essential consumer appliance in both residential and commercial sectors. In fact, according to the U.S Department of Energy (DoE) report, A/C represent to about a $100 billion, 100 million-unit/year global market, accounting for 4.5 exajoules of site energy consumption each year.

The dominant players in rotary scroll air compressor market are:

  • Gardner Denver Inc.
  • Atlas Copco
  • Boge Compressors
  • Sullair LLC
  • Emerson Climate Technologies Inc.
  • Ingersoll-Rand plc.

With rising population, urban climatic conditions and disposable income in emerging economies, the use of efficient air cooling appliances is likely to surge over the coming years, in turn supplementing market growth. Citing one such instance, IEA’s 2018 report claim that the global stock of air conditioners in buildings will reach 5.6 billion by 2050, up from current 1.6 billion trends.

Rotary Scroll Air Compressor Market, by Application:

  • Home appliances
  • Food & beverage
  • Medical & pharmaceutical
  • Automotive & transportation
  • Biotechnology
  • Others

All in all, with a vast expanse of applications including home appliances, medical & pharmaceutical, food & beverage, automotive & transportation, and biotechnology industries, the growth prospects for rotary scroll air compressor market are anticipated to remain high. The key features associated with the product like low sound and vibration, high reliability and efficiency and low cost for maintenance is slated to attract added market growth in the ensuing years. In terms of commercialization, global market size is estimated to exceed a valuation of USD 5.5 billion by 2024.

With rapid urbanization and an increase in people’s standard of living, the use of rotary scroll air compressors has, of late, grown significantly in certain home appliances. The component allows products to provide low noise, energy efficient operations whilst offering cleaner compressed air across the system, benefits that bring about significant aids to human health, comfort and productivity.

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Related News: https://www.marketwatch.com/press-release/oil-free-air-compressor-market-2019---2024-growth-forecast-by-product-material-industry-players-2019-07-22

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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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