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I AgreeAnalysis of Portable Air Compressor market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global market for portable air compressors is estimated to grow at a moderate CAGR of over 4% during the forecast period (2019-2027) to reach a valuation of over US$ 8 Bn.
The portable air compressor market has witnessed steady growth in recent years with rapid utilization in construction sites, road works, and packaging machines through myriad industries. Burgeoning infrastructural activities in APAC and MEA are providing manufacturers with profitable business opportunities over the forecast period.
Technological advances in air compression techniques are laying a profound influence on the equipment's compression capabilities and are consequently expected to drive growth in the portable air compressor market during the forecast period. In addition, the increase in the adoption of robust and energy efficient equipment is also expected to fuel the industry's demand for air compressors.
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APAC is set to have the highest growth rate of about 4.5% during the forecast period due to robust industrial and construction activities occurring in China and India.
The emergence of a number of screw compressor producing companies in China and India and a large industrial base for manufacturing electronics and semiconductors in China and Taiwan is expected to further boost the region's demand for portable air compressors.
Since the oil and gas industry is one of the major market contributors, the countries with a strong infrastructure will prove to be the most lucrative air compressor markets. Opportunities for the Asia Pacific market will therefore continue to be lucrative over the forecast period.
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The building and construction end-use segment led in the global portable air compressor market in 2018. With an overall one-fifth share, the building and construction sub-segment is expected to retain its dominance over the period predicted.
The building and construction industry is currently the biggest investor in portable air compressors, with portable air compressors available in various sizes and weights. Air compressors are predominantly being used by building and construction companies for a variety of pneumatic tools and equipment.
Depending on the construction task at hand, portable air compressors are being used in nail guns, jackhammers, and compactors. Oil & gas follows close behind as the second most utilized segment for portable air compressors.
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The global portable air compressor market is moderately fragmented in nature with a few primary competitors such as Atlas Copco AB, Ingersoll-Rand PLC, ELGI’s capturing majority of the market share. The market is extremely capital-intensive in nature and therefore there is also a high entry barrier for new competitors.
With the current market growth, however, it is less likely that a number of new entrants will converge in the market for portable air compressors. Some of the key developments in the market are:
Prominent players are setting a new benchmark by expanding their product offerings in terms of technology and higher efficiency to better serve the needs of consumers.
The global portable air compressor market is segmented on the basis of design, lubrication, drive type, application and region.
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The portable air compressor market is expected to have a CAGR of 4% during the forecast period.
The portable air compressor market is expected to rise due to the increase in the adoption of robust and energy efficient equipment.
The Asia Pacific provides most opportunities in the portable air compressor market.