Published On : 27 Aug 2018
Air compressors are a source of pneumatic power used for a large variety of commercial and industrial applications. These equipment work on the principle of converting electrical power into kinetic energy and can be employed by users in end-use industries. One of the most popular small-scale use of these pneumatic power devices is in gas stations to inflate tires. Most air compressors used at homes use reciprocating piston air compressors.
Over the past few years, manufacturers have been trying to develop a wide range of air compressors that are reliable in operations, are less energy-intensive, and are cost-effective, especially for commercial usage. Their demand underpins the lucrativeness of the market. According to estimates by QYResearchReports., influenced by the aforementioned broad dynamics, the global demand for air compressors is expected to rise at a prominent growth rate in the next eight years.
Trends Likely to Reinforce Demand Dynamics and Cut across New Boundaries
• Demand for Cost-effective and Energy-efficient Air Compressors Rising
Air compressors are increasingly being demanded in low, medium and high pressure applications in various industries, including petrochemical and chemical, machinery manufacturing, mining and metallurgy. This is a key factor driving the market dynamics. World over, the market is witnessing the substantial demand for air compressors in ensuring quality of compressed air in industrial settings. This is evident in the growing usage of oil-free compressors and those which keep air free of any contamination while operating. Furthermore, manufacturers are also keen on improving fundamental compressor technologies such as pumps. The advent of air compressors with less noise when running on high frequency has led to less maintenance throughout the lifecycle.
• Advancements in Sensors Technologies open New Frontiers
Ceaseless advancements in auxiliaries and subassemblies used in air compressors are potentially boosting the market. These are complemented by the advances in sensor technologies used in air compressors. This has consequently upped the energy efficiency of air compressors, making them more reliable and accurate in functionalities. In this regard, advancements in microelectronics used in air compressors bodes well for the overall market. The demand for air compressors for tailor-made solutions in end-use industries is opening for lucrative avenues for market players to capitalize on.
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Manufacturers focus on expanding Product Range
Product managers are increasingly focused on developing robust and multifunctional equipment that can help their customers meet the needs. They are also extending higher service warranty to attract consumers. Efforts are being made to expand the product range in order to launch more versatile and cost-effective compressors.
Some of the key companies vying for sizeable shares in the global air compressors market are HANBELL, Hongwuhuan, KAISHAN, Kobelco, Gardner Denver, Kaeser Compressors, Inc., Sullair, Ingersoll Rand Inc., and Atlas Copco. Top manufacturers are also launching products with longer component life.
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