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+6% CAGR Growth to be achieved by Industrial Air Compressor Market by 2021 The market to hit $34.87 Billion

Press Release   •   Nov 07, 2016 15:12 EST

Browse 60 market data Tables and 51 Figures spread through 154 Pages and in-depth TOC on Industrial Air Compressor Market http://www.rnrmarketresearch.com/industrial-air-compressor-market-by-type-positive-displacement-dynamic-maximum-pressure-0-20-bar-20-100-bar-above-output-power-0-50-kw-50-250-kw-250-500-kw-above-seal-oil-immersed-oil-st-to-2021-market-report.html

Positive displacement compressors are expected to hold a larger share of the market by product type in the Industrial Air Compressor Market. Growing demand for high output pressure compressors is likely to be the major driving factor. Reciprocating and rotary are the two types of technologies available in positive displacement compressors. Rotary compressors have low maintenance cost and are more efficient compared to reciprocating compressors but are only available in the low to medium output pressure range. The market for rotary compressors is expected to grow at the highest rate among other compressor technologies during the forecast period due to their wide range of applications and high efficiency.

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The industrial air compressor market is projected to reach USD 34.87billion by 2021, growing at a CAGR of 6.3% from 2016 to 2021. Industrial air compressors are used to increase pressure by converting power into potential energy, which is stored in pressurized air. This pressurized air is used to power pneumatic tools, to compress gas for transport, cutting & welding, packaging, cooling, and freezing, among others. Rapid industrialization in emerging economies, investments to improve cross border oil & gas pipeline networks, and increasing awareness about energy saving and efficiency are expected to drive the industrial air compressor market. Declining LNG imports in the U.S., Japan, and South Korea is a restraining factor for industrial compressors.

Positive displacement compressors are further segmented in to reciprocating and rotary type compressors. Reciprocating compressors are among the oldest compressor technologies and are still being used in medium to large scale industries. These compressors come in all pressure ranges but are preferred for applications that require high pressure, due to high maintenance cost. Rotary compressors on the other hand have a limited pressure range and are used for a variety of applications in industries such as food & beverages, chemicals, textile, and power generation, among others. Due to versatility in application, the positive displacement compressor market is expected to have higher growth in the market.

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Asia-Pacific is currently the largest market for industrial air compressors, closely followed by North America. The Asia-Pacific market is primarily driven by countries such as China, India, Australia, and Thailand, among others, where there is high demand for industrial air compressors. The market in this region is projected to grow at a high rate, with China expected to dominate the market.

The report identifies and addresses key markets for industrial air compressor market, which is useful for suppliers to review the growth in demand for the product.

The report helps solution providers to understand the pulse of the market and provides insights on drivers, restraints, and challenges.

The report will help key players to better understand the competition’s strategies and will help in making strategic decisions.

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