The global portable air compressor market is projected to grow at a CAGR of over 4% and is estimated to reach a valuation of over US$ 8 Bn by the end of the forecast period (2019-2027). Portable air compressors are witnessing a steep sales trajectory during the last five years due to their large scale utilization in tire inflation and mining activities.
The rapid utilization of portable air compressors in road works, power generation, and packaging machines in a diverse range of industries is further amplifying demand for portable air compressors. Moreover, governments in different economies are implementing stringent gaseous emission standards which is considerably increasing demand for portable air compressors.
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Key Takeaways of the Portable Air Compressor Market
- Portable air compressors are finding maximum utilization in building & construction operations. With portable air compressors being made available in assorted sizes and weight, the building & construction industry is presently the largest investor in portable air compressors
- The oil-free sub-segment is foreseen to grow with the highest CAGR of over 5%. When compared to oiled lubrication, oil-free portable air compressors are lighter in weight and do not require much maintenance, thus enhancing its growth prospects
- Asia Pacific accounted for over 50% of the global portable air compressor market share in 2018 owing to increased spending on industrialization and infrastructure development in the region
- The occurrence of a number of screw compressor manufacturers in China and India and a large industrial base for electronic and semiconductor manufacturing in China and Taiwan is projected to further drive the portable air compressor market in the region
- Heavy investment in oil & gas exploration activities is also projected to have a positive impact on market growth for the Middle East & African regions
“With compressed air turning to be the most extensively utilized form of energy, the demand for portable air compressors is proliferating. Adding to this, novel innovations are being introduced by primary market players which is further contributing to overall growth” says the Fact.MR analyst
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Manufacturers Etching a Benchmark through Product Innovation
The portable air compressor market is moderately consolidated in nature with a few primary competitors holding the top shares. The market is immensely capital-intensive in nature and therefore the entry barrier for emerging competitors is also high.
However, with the current market growth, it is less likely that a number of new entrants will group in the portable air compressor market. Innovations and new product developments is a common strategy that key manufacturers are following to gain a competitive edge. For example, in November 2019, Atlas Copco, launched its mobile electric variable speed drive (VSD) compressor range earlier this year, equipped for harsh environments and low-emission areas.
Find More Valuable Insights on the Portable Air Compressor Market
Fact.MR, in its new offerings, brings to fore an unbiased analysis of the global portable air compressor market, presenting historical demand data (2013-2018) and forecast statistics for the period, 2019-2027.
The study divulges compelling insights on the portable air compressor market on the basis of design (reciprocating type, rotary screw type and rotary centrifugal), lubrication (oiled and oil-free), drive type (electric and conventional) application (automotive, aerospace, oil & gas, building & construction, mining, power generation and others (power generation, defense)), across several regions.
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