Market Forecast and CAGR
According to latest research by Fact.MR., Portable Compressor market is set to observe a decent growth rateand is projected to record a CAGR of 4.0% during 2021-2031.Increasing cognizance for energy efficient, low maintenance devices and growing industrialization are projected to drive demand.It is also anticipated towitnessa steady growth in building & construction end-use segment followed by oil & gas in the forecast period.
What is Driving Demand for Portable Compressor?
The market has been found to grow steadily growing in historical 4-5 years, owing to augmented use in road construction sites, construction sites, and packaging machines across a wide range of industries.
Technological advancements in air compression techniques are having a significant impact on the equipment's compression capabilities, and as a result, the portable compressor demand is anticipated to augment during the forecast period.
Furthermore, the industry's demand for air compressors is predicted to be driven by a growth in the usage of robust and energy efficient equipment.
Over the projected period, the expansion of manufacturing units and company activities would have a positive effect on product demand. Growth of portable compressor is expected to be driven by strategic investments and business support initiatives pursued by government authorities to revive the industrial economy following the restrictions imposed due to COVID-19 pandemic.
Building and Construction Expected to Increase Portable Compressor Sales
The building and construction sub-segment is anticipated to uphold its dominance over the forecast period, with a one-fifth share.The building and construction industry is presently the biggest investor in portable compressors. Building and construction firms mostly use air compressors for a range of pneumatic tools and equipment. Portable compressors are used in nail weapons, jackhammers, and compactors, depending on the building job at hand. The second most common use for portable compressors is in the oil and gas industry.
North America Market Growth Outlook
North America is anticipated to hold a significant market share during the forecast period. In the coming years, rising offshore oil exploration activities in the area would drive up demand in the region.
For providing the necessary pressure levels during operations, portable compressors are mounted in heavy duty machines which are used in oil & gas, mining, manufacturing and quarrying.
Over the projected timeframe, recent developments in the unconventional natural gas and oil sector across the region will provide future opportunities for market expansion.
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East Asia and South Asia & Pacific Demand
Owing to robust industrial and construction activities in China and India, East Asia followed by South Asia & Pacific is anticipated to have the highest growth rate during the forecast period. The existence of several compressor manufacturing companies in China and India, as well as a large industrial base for manufacturing electronics and semiconductors in China and Taiwan, are expected to fuel demand.
Since the oil and gas industry is a major contributor to the sector, countries with well-developed infrastructure would be the most lucrative markets. As a result, the East Asia & South Asia & Pacific market will continue to offer lucrative opportunities over the forecast period.
Manufacturing, automotive, and electronics industries are all showing signs of rapid expansion in countries like Thailand, Vietnam, Singapore, and Malaysia are experiencing strong industrial development, and the widespread usage of portable compressor in a variety of industries is anticipated to boost market growth in the coming years.
Who are the Key Manufacturers and Suppliers of Portable Compressor?
Some of the leading manufacturers of include
- Atlas Copco AB
- Ingersoll-Rand plc
- Hitachi Limited
- Gardner Denver (CompAir)
- Rolair Systems
- Sumake Industrial Co. Ltd.
- BOGE Compressors
- Bac Compressors
Strategic acquisitions and alliances are being used by industry players to grow their business activities around the world. For example, Atlas Copco acquired HbKompressorenDruckluft, a leading German distributor and service provider of industrial air compressors, in January 2017. Therefore, its market share in Germany and Western Europe was to be increased as a result of this change.
AtlasCopco, Gardner Denver, KaeserKompressoren, Ingersoll Rand, Hitachi, and others are among the major players in the portable compressors market.
An Adaptive Approach to Modern-day Research Needs
Portable Compressor Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
By Drive Type
- Diesel Powered
By End-use Industry
- Oil & Gas
- Building & Construction
- Power Generation
- North America
- Latin America
- South Asia &Pacific
- East Asia
- South Korea
- Middle East and Africa
- GCC Countries
- Northern Africa
- South Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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