Rotary Scroll Air Compressor Market Will Grow at 3% CAGR to Cross $5.5 Billion by 2024: Global Market Insights Inc.
Asia Pacific rotary scroll air compressor market will be a major segment as the demand for processed foods is increasing due to rising population, especially in countries such as China and India, along with increasing purchasing power.
SELBYVILLE, Del., May 13, 2019 (Newswire.com) - The rotary scroll air compressor market revenue is set to exceed from USD 4.6 billion in 2018 to around USD 5.5 billion by 2024, according to a 2019 Global Market Insights Inc. report. Growing demand for residential air conditioning systems driven by rising temperatures and thriving construction industry will propel the rotary scroll air compressor market over the forecast timeframe. The number of chronic diseases is increasing and generating huge demand for medical systems and equipment. This, in turn, will spur the overall market growth by 2024. Moreover, need for compliance to government regulations such as NFPA 99 will support the market expansion. Importance to maintain sterile environments in the pharmaceutical industry will boost the rotary scroll air compressor market share in the coming year.
Rotary scroll air compressors are widely used in the food and beverage industry for food processing and packaging applications. They provide clean and dry air to ensure product quality. Increasing population, changing lifestyles and time constraints for meal preparation in urban families are leading to the surge in demand of ready-to-eat food and beverage products, thus exhibiting promising future trends for the market. The product will gain popularity due to continuous operations, low noise and vibration levels and energy-efficient operations in upcoming years.
Request a sample of this research report @ https://www.gminsights.com/request-sample/detail/2128
High purchasing cost associated with the product may hinder its market growth over the forecast period. Additionally, stiff competition from screw and piston compressors in heavy-duty applications will restrain the product market growth over the coming years.
Rotary scroll air compressor market is segmented into sub-categories on the basis of lubrication and application. Based on lubrication, the market is classified into oil-free and oil-filled. Oil-free segment is expected to grow with a CAGR more than three percent owing to increasing demand from home appliances, medical & pharmaceutical industry and food & beverage industry. Oil-filled segment will clutch over 10 percent volume share by 2024.
Based on application, the rotary scroll air compressor market is divided into home appliances, food & beverage, medical & pharmaceutical, automotive & transportation, biotechnology and others. Others include semiconductor & electronics, commercial printing, etc. Food & beverage segment is poised to grow with a CAGR more than three percent due to changing consumers' preferences to buy convenience foods rather than making traditional long-cooked meals.
Browse key industry insights spread across 125 pages with 134 market data tables and 23 figures and charts from the report, “Rotary Scroll Air Compressor Market Size By Lubrication (Oil-Free, Oil-Filled), By Application (Home Appliances, Food & Beverage, Medical & Pharmaceuticals, Automotive & Transportation, Biotechnology, Others), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2024,” in detail along with the table of contents:
Asia Pacific region will be a major market for rotary scroll air compressors as the demand for processed foods is increasing due to rising population, especially in countries such as China and India, along with increasing purchasing power. The upsurge in the demand for air conditioning systems from residential and commercial buildings will upscale the product demand in the future. North America will capture more than a tenth of the global revenue share due to favorable trends associated with the medical & pharmaceutical industry.
The prominent players in rotary scroll air compressor market share are Atlas Copco, Gardner Denver Inc., Boge Compressors, Emerson Climate Technologies Inc., Sullair LLC, Ingersoll-Rand plc., etc.
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/2128
Browse Related Report:
1. Air Compressor Market Size By Product (Portable, Stationary), By Technology (Rotary [Screw, Scroll], Reciprocating, Centrifugal), By Lubrication (Oil Free, Oil Filled), By Application (Home Appliances, Food & Beverage, Oil & Gas, Energy, Semiconductors & Electronics, Manufacturing, Healthcare [Medical, Dental]), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024
2. Pumps Market Size By Type (Portable, Stationary), By Position (Submersible, Non-submersible), By Driving Force (Engine Driven, Electrical Driven), By Technology (Centrifugal Pumps, Diaphragm Pumps), By Application (Mining, Building & Construction, Oil & Gas, Industrial, Municipal), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, China, India, Japan, Australia, South Korea, Thailand, Indonesia, Malaysia, Brazil, Mexico, South Africa, Saudi Arabia, UAE), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
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.
Source: Global Market Insights Inc.