Portable Air Compressor Market to Value USD 2.37B by 2027; Global Market Insights Inc.
North America's portable air compressor market is poised to capture around 15% of the revenue share by 2027, as the region is experiencing tremendous growth in terms of crude oil production, together with rising investments in shale gas exploration.
SELBYVILLE, Del., September 29, 2021 (Newswire.com) - The portable air compressor market revenue is anticipated to record a valuation of USD 2.37 billion by 2027, according to the most recent study by Global Market Insights Inc. The growing product usage in end-user industries, including, food & beverages, pharmaceuticals, and semiconductors, among others, is fostering portable air compressor development.
The portable rotary scroll air compressor market is estimated to showcase growth of 6.5% during the forecast timeline. The segment will witness promising growth, owing to its superior characteristics. Scroll air compressors offer greater efficiency, enhanced durability, superior reliability, quiet operation, oil-free design, and energy savings. These compressors are less prone to mechanical failure and consist of minimal parts, hence, require low maintenance.
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Oil-filled lubrication will acquire over 70% of the portable air compressor market by 2027. Cost-effectiveness and durability of these compressors compared to oil-free counterparts are some of the factors driving product acceptance in the manufacturing, construction, and mining sectors.
Among various application sectors, healthcare is anticipated to experience promising growth in the portable air compressor market. The segment will reflect a CAGR of over 9% during the projected period. Within the sector, air compressors are used for several purposes including, oxygen supply, patient simulators, sterilization, physiotherapy & chiropractic tables, medical gas booms, hospital headwalls, surgical instruments, and bandage pumping. A growing portion of the aging population, in conjunction with the rising occurrences of chronic disorders, is fueling healthcare spending around the world. A positive outlook for the healthcare sector and expanding number of healthcare facilities are likely to bolster product development in the coming years.
North America will account for more than 15% of the portable air compressor market share by 2027. The region is experiencing tremendous growth in terms of crude oil production, together with rising investments in shale gas exploration, which will further catalyze product penetration. The escalating U.S. automobile industry size and rising adoption of heavy-duty trailers requiring high-quality air brakes are further contributing to portable air compressor market size expansion.
Some major findings of the portable air compressor market report include:
- Rotary air compressors will observe steady growth owing to their superior characteristics.
- Cost-effectiveness of oil-filled products will be fueling industry growth over the forecast timeframe. Growing demand for a high level of precision & quality will be enhancing the potential for portable air compressors in the future.
- The healthcare sector will account for a substantial share of the overall industry, owing to rising demand for compressed air in hospitals, biomedical facilities, pharmaceutical production, etc.
- North America will hold a significant share of the portable air compressor industry throughout the forecast timeframe, which is mainly attributed to its advanced oil & gas infrastructure and steady growth of the manufacturing sector in the U.S.
- A few of the major companies manufacturing & supplying portable compressors include Gardner Denver, Atlas Copco AB, Ingersoll Rand, Ciasons Industrial, Kaeser Kompressoren, and many more.
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Partial chapters of report table of contents (TOC):
Chapter 3 Portable Air Compressor Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2017 - 2027
3.2.1 COVID-19 impact on industry landscape
3.3 Industry ecosystem analysis
3.3.1 Raw material analysis
3.3.2 Manufacturing trends
3.3.3 Profit margin
3.3.4 Distributor channel analysis
3.3.5 Vendor matrix
3.3.6 Value chain disruptions due to COVID-19
3.4 Regulatory landscape
3.5 Industry impact forces
3.5.1 Growth drivers
188.8.131.52 Proliferating growth in household appliances market
184.108.40.206 Surging automobile production
220.127.116.11 Technological advancements in portable air compressors
3.5.2 Industry pitfalls & challenges
18.104.22.168 Higher initial setup cost and maintenance cost
22.214.171.124 Stringent regulations for utilization of portable air compressors
3.6 Technology landscape
3.7 Pricing analysis
3.7.1 Cost structure analysis
3.8 Innovation & sustainability
3.9 Growth potential analysis
3.10 Porter's analysis
3.10.1 Supplier power
3.10.2 Buyer power
3.10.3 Threat of new entrants
3.10.4 Industry rivalry
3.10.5 Threat of substitutes
3.11 Competitive landscape, 2020
3.11.1 Company market share analysis, 2020
3.11.2 Key stakeholders
3.11.3 Strategy dashboard
3.12 PESTEL analysis
3.13 COVID-19 impact on air compressor demand by application
3.13.1 Home appliances
3.13.2 Food & beverages
3.13.3 Oil & gas
3.13.5 Semiconductor & electronics
3.13.8 Mining & construction
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision-making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Source: Global Market Insights Inc.