Compressors Global Market To Reach Value Of $53 Billion In 2025
29 Sep, 2021
The compressors market consists of sales of compressors and related services by entities that manufacture air or gas compressor machines. Compressors are used to compress air or gas in a non-leakage sealed chamber and release the air or gas at the desired pressure.
Global Compressors Market Size And Drivers:
The global compressors market is expected to grow from $41.6 billion in 2020 to $42.57 billion in 2021 at a compound annual growth rate (CAGR) of 2.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $53.13 billion in 2025 at a CAGR of 5.7%. The increasing applications of compressors in the power industry is one of the key drivers for the compressors market.
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Trends In The Global Compressors Market
The emergence of next-gen air compressors is an important trend in the compressors market. The next-generation air compressors are highly energy -efficient and eco-friendly and emits relatively lesser carbon emissions than the traditional compressors. For example, in 2018, Kirloskar Pneumatic Co Ltd in association with Top Tag Trading Est (3T Group) launched a next-generation diesel portable compressor, which offers high power efficiency at a low cost of ownership. Similarly, compressor manufacturer Atlas Copco offers the GA VSD+ compressor which reduces energy consumption by 50%. Other companies in the compressors market such as Hitachi and Ingersoll Rand are also working towards power- efficient and low-maintenance air compressors.
Global Compressors Market Segments:
The global compressors market is further segmented –
By Type: Air, Gas
By Application: Construction, Power, Industrial Manufacturing, HVAC-R, Chemical & Cement, Oil & Gas, Automotive, Food & Beverage, Textile
By Compressor Type: Positive Displacement, Centrifugal
By Power Rating: 0-100 kW, 101-300 kW, 301-500 kW, 500 kW Above
By Geography: The global compressors market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Compressors Market At:
https://www.thebusinessresearchcompany.com/report/compressors-global-market-reportCompressors Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides compressors market overviews, analyzes and forecasts market size and growth for the global compressors market, compressors market share, compressors market players, compressors market segments and geographies, compressors market’s leading competitors’ revenues, profiles and market shares. The compressors market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.