Views: 8 Author: Site Editor Publish Time: 2023-07-28 Origin: Site
NEW YORK, June 14, 2023 /PRNewswire/ -- As per Facts and Factors study, the global air compressor market size was worth around USD 20.9 billion in 2022 and is predicted to grow to around USD 27.5 billion by 2030 with a compound annual growth rate (CAGR) of roughly 3.5% between 2023 and 2030.
Air Compressor Market: Overview
A compressor is a mechanical device that lowers the volume of a gas to raise pressure. On the other hand, an air compressor is presumed as a gas compressor that is used for a specific purpose, such as providing HP clean air to fill gas cylinders, providing clean air with moderate pressure to drive HVAC control s/y valves, powering pneumatic tools like jackhammers and HPA, as well as in the case of large-scale industrial processes like petroleum coking oxidation, etc. Both pumps and compressors have features that are comparable in that they both work to raise a fluid's pressure level and transport it through a pipe.
Key Insights:
As per the analysis shared by our research analyst, the global air compressor market is estimated to grow annually at a CAGR of around 3.5% over the forecast period (2023-2030).
In terms of revenue, the global air compressor market size was valued at around USD 20.9 billion in 2022 and is projected to reach USD 27.5 billion, by 2030.
The growing demand for air compressors from various end-use industries such as manufacturing, automotive, and others is expected to drive the growth of the air compressor industry during the forecast period.
Based on the type, the stationary segment is expected to hold the largest market share during the forecast period.
Based on the product, the rotary/screw segment is expected to dominate the market over the forecast period.
Based on region, the Asia Pacific is expected to hold the largest revenue share during the forecast period.
Facts and Factors published the latest report titled "Air Compressor Market Size, Share, Growth Analysis Report By Type (Portable and Stationary), By Product (Reciprocating/Piston, Rotary/Screw and Centrifugal), By Lubrication (Oil-Filled and Oil-Free), By Application (Manufacturing, Semiconductors & Electronics, Food & Beverage, Healthcare/Medical, Home Appliances, Energy, Oil & Gas, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030" into their research database.
