Air Compressors Market Increase Due to the Growing Supply-Demand Gap in Various Industries
The global air compressors market is driven primarily by the expanding industrial sector across the world, according to a report from Transparency Market Research (TMR). The report examines the historical development trajectory of the global market and provides a detailed look at the market’s current condition. Analysis of the same using industry-standard tools and techniques is used to provide reliable forecasts regarding the market’s development in the coming years.
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Air compressors are a device that use externally sourced power to compress air and store the compressed air. The compressed air can be released according to the requirements of the specific application, with the kinetic energy of the pressurized air serving as a power source. Construction machinery is commonly powered by air compressors, particularly in remote regions where grid power may be absent or intermittent. Industrial machinery is another common consumer of air compressor power.
The growing industrial and manufacturing sectors across the world is thus one of the key drivers for the global air compressors market. Due to the growing supply-demand gap in various industries, the industrial sector in developed as well as developing nations is expanding rapidly. The government support being provided to the industrial sector and consistent introduction of technological advancements that necessitate an expansion in the ambit of the industrial sector are other key drivers for the global air compressors market.
The booming construction industry is another key driver for the global air compressors market. Due to the increasing purchasing power of consumers in emerging economies and the need for redevelopment and renovation in existing construction in developed regions, the global construction industry has promising growth prospects in the coming years. This bodes well for the air compressors market, as air compressors are commonly used to power construction equipment.
On the other hand, the high manufacturing costs of air compressors may become a significant restraint on the global market for the same. In developing regions, the air compressors market may suffer in the short term due to the inability of many customers to afford air compressors. However, the booming construction industry in developing regions holds significant promise for the air compressors market.
By product type, the air compressors market is segmented into reciprocating compressors, turbo compressors, and rotary type compressors. The reciprocating compressors segment comprises single stage, two stage, diaphragm, and rocking piston air compressors, while rotary air compressors include scroll compressors, rotary sliding vane compressors, and rotary helical screw compressors.
The report also examines the operations of leading companies in the global air compressors market. Key players profiled in the report include Oasis Manufacturing, Grainger Company, Bauer Group, Best Aire LLC, Ingersoll Rand, and Sullair.
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