Air Compressors Market Overview:
Rapid industrialization in developing countries is the main driver of the world market for air compressors. An air compressor is used to convert the power of an electric motor into kinetic energy. This conversion is achieved by compressing the interior air, which is released during rapid bursts. Among the most commonly used air compression methods are negative displacement and positive displacement technologies.
Air Compressors Market was valued at USD xx billion in 2015 and expected to reach USD xx billion by 2023 growing at a CAGR of xx% during the forecast period 2015 to 2023.
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Air Compressors Market Drivers and Restraints:
The introduction of energy-efficient air compressor models, which are also available in portable designs, has been widely adopted by industries around the world. Recent technology promises a substantial reduction in maintenance costs, which has supported the receival by a much larger number of buyers from a variety of industrial environments. However, for those who are stuck with more conventional models, they continue to handle the noisy operation of oil-free compressors and the lubrication problems of lubricated air compressors. However, thanks to the efforts of the main players, the market will soon see the launch of more efficient air compressors, which will help alleviate the noise and air pollution problems that prevail among their traditional counterparts. In addition, possible technological innovations would encourage greater use of air compressors in the construction sector, particularly in developing countries. This would allow companies that operate in the global market of air compressors to obtain greater profits in the coming years.
Air Compressors Market Geographical Segmentation:
From the geographical point of view, Asia Pacific, North America, Europe, Latin America and Middle East and Africa are the key segments of the global market for air compressors. Given that the oil and gas industry is one of the main contributors to the market, countries with a solid infrastructure in the same will be the most lucrative market for air compressors. In this sense, the existing opportunities in the Asia-Pacific market will continue to be profitable during the forecast period.
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Key Players of Air Compressors Market:
Kobe Steel Ltd., Atlas Copco AB, Ingersoll-Rand PLC, Elgi Equipments Limited, Mitsubishi Heavy Industries Ltd., Kirloskar Pneumatic Company Limited, Ebara Corporations, Suzler Ltd., VMAC Global Technology Inc., and Porter Cable are the major players of the Air Compressors Market.
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