The North American Air Compressor Market will reach $30 billion by 2027,
Selbyville, Del., Feb. 09, 2022 (GLOBE NEWSWIRE) —
The North America Air Compressor Market Is Expected To Surpass USD 30 Billion By 2027, As Reported In A research study by Global Market Insights Inc. Growing production of automobiles and home appliances in the United States and Canada will boost the regional industry revenue.
Centrifugal air compressors are expected to experience a CAGR of over 1.2% through 2027. These compressors are widely used in industrial applications that require high capacity, high discharge rates, and continuous operation. Due to their larger size and capacity, centrifugal compressors tend to be more expensive than other types. The growth of the segment will be propelled by the increasing number of thermal power plants in North America, as the product is widely used to supply compressed air in gas turbines.
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Oil filled air compressors accounted for around 63% of the market share in 2020 and is expected to maintain a dominant position till 2027. Additionally, the proliferation of US manufacturing sector will significantly impact the regional market due its tough applications and low cost compared to oil-free types.
The commercial segment of the North America air compressor market will generate approximately USD 4.5 billion in revenue by 2027. The sector widely uses air compressors in manufacturing and maintenance applications for various purposes such as the pneumatic conveying of components, the operation of sensitive valves and the cleaning of circuit boards after production or during maintenance. Rising electronic equipment manufacturing in the region will drive the demand for compressors used in commercial applications during the forecast period.
Furthermore, Canada is also expected to generate considerable demand for air compressors from 2021 to 2027. Significant developments in manufacturing capabilities, accelerating healthcare expenditures, and growing consumption of packaged foods in the country will drive the growth of the air compressors market in America North. Moreover, increasing oil and gas exploration activities in this region coupled with huge manufacturing industries will propel the growth of the industry.
Some of the key findings of the North America Air Compressor Market report include:
- Stationary air compressors will dominate the market demand due to large-scale product applications.
- Rising adoption of rotary air compressors owing to various advantages will fuel the growth of the segment.
- Oil filled compressors will be in high demand due to their ability to deliver high horsepower and perform heavy duty applications.
- Commercial manufacturing and maintenance applications will increase product consumption in the commercial application sector.
- Some of the major players in the air compressor industry in North America include Atlas Copco, Sullair, LLC, Gardner Denver, Inc., Kaeser Kompressoren, Ingersoll-Rand Plc, Rolair Systems, Elgi Compressor USA Inc., Hitachi Industrial Equipment Systems Co., Ltd. ., Ciasons Industrial, Inc., Aerzener Maschinenfabrik GmbH (Aerzen), Quincy Compressor, Bauer Compressors, Inc., Emerson Climate Technologies, Inc. and Sullivan-Palatek, Inc.
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Partial chapters of the table of contents (TOC) of the report:
Chapter 2 Executive Summary
2.1 360° Overview of Air Compressor Industry in North America, 2017-2027
2.1.1 Trade trends
2.1.2 Product trends
2.1.3 Technology trends
2.1.4 Lubrication trends
2.1.5 Application trends
2.1.6 National trends
Chapter 3 North America Air Compressor Industry Overview
3.1 Industry Segmentation
3.2 Industry Landscape, 2017 – 2027
3.3 Industry Ecosystem Analysis
3.4 Industry impact forces
3.4.1 Drivers of growth
3.4.2 Industry Pitfalls and Challenges
3.5 Analysis of growth potential
3.6 Regulatory trends
3.7 Regional Price Trends
3.8 Impact of COVID-19 on Air Compressor Industry
3.8.1 Impact of COVID 19 on the industry landscape
3.9 Porter’s analysis
3.10 Competitive landscape, 2020
3.11 PESTEL analysis
3.12 Cost structure analysis
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, USA, is a global provider of market research and advisory services; offering syndicated and custom research reports as well as growing consulting services. Our business intelligence and industry research reports provide clients with in-depth insights and actionable market data specially designed and presented to aid in strategic decision-making. These comprehensive reports are designed using proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.