Portland, Oregon, Feb. 21, 2019 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “ - Global Opportunity Analysis and Industry Forecast, 2014–2023”. According to the report, the global air compressor market garnered $20.64 billion in 2017 and is expected to reach $26.85 billion by 2023, registering a CAGR of 4.5% from 2017 to 2023.
The report provides an in-depth analysis of the global air compressor market, covering aspects such as current market size & estimations, market segmentation, changing dynamics, competitive landscape, and market forecast. The information in the report is a result of an extensive primary and secondary research.
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The drivers, restraints, and opportunities are broadly analyzed in the report. Increased use of energy efficient compressors, low maintenance requirements, and availability of multiple fuel options are driving the market. Nonetheless, high installation & maintenance costs and air & noise pollution restrict the market growth. On the other hand, rise in production activities and technological advancements offer new opportunities for the growth of the market.
The stationary segment held more than half of the market share in 2017 and would maintain its dominance through 2023. It would also register the fastest CAGR of 4.7% during the study period. This is due to increase in industrial usage for heavy-duty applications among various verticals including automobile, manufacturing, and others.
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The market in Asia-Pacific held over one-third of the market share in 2017 and is expected to maintain its dominance through 2023. However, Latin America, Middle East and Africa (LAMEA) is anticipated to grow at the fastest CAGR of 5.2% from 2017 to 2023.
The report also includes an analysis of the leading players operating in the market. They include Atlas Copco AB, Elgi Equipments Ltd., Kobe Steel Ltd., Kirloskar Pneumatic Company Ltd., Ingersoll-Rand PLC, Suzler Ltd., Mitsubishi Heavy Industries Ltd., Porter Cable, Ebara Corporations, and VMAC Global Technology Inc.
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