This global Centrifugal Air Compressor market report studies the industry based on one or more segments covering key players, types, applications, products, technology, end-users, and regions for historical data as well as provides forecasts for next few years.
High growth in the Asia Pacific automotive industry will drive the centrifugal air compressor market by 2024. Asia Pacific has been the most significant automotive market with high production as well as consumption. A continuous supply of high pressure compressed plant and instrument air for automobile manufacturing and assembling activities will augment the market growth. Global centrifugal air compressor market will surpass USD 7 billion by 2024, according to this new research report.
In 2015, China, India, Japan, and South Korea accounted close to 40% of the global automotive sales, including both commercial as well as personal vehicles. Continuously rising GDP and living standards of the population coupled with the increasing number of people residing in the middle and high-income groups in Asia Pacific countries will drive the centrifugal air compressor demand in the automotive industry in the near future.
Asia Pacific has been witnessing a robust industrial growth in the last two decades with the region accounting for almost 40% of the world output. Rapid industrial growth in Asia Pacific countries will propel the centrifugal air compressor market as the products are extensively used in various industries including food & beverage, oil & gas, energy, healthcare, manufacturing, etc.
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Food & beverage manufacturing needs contamination-free and consistent compressed air for running their operations and employs centrifugal air compressors for a variety of production tasks. Rising demand for packaged food items around the globe will augment the centrifugal air compressor demand for use in food & beverage sector. Global centrifugal air compressors market generated USD 840 million for food & beverage applications in 2016 and will observe significant growth over the forecast period.
Asia Pacific held the highest share in global centrifugal air compressor market in 2016 and contributed USD 3 billion revenue. The region will observe significant demand for centrifugal air compressor for energy applications by 2024. Centrifugal air compressors are extensively used in all types of power plants including thermal, hydroelectric, nuclear power plants and even in diesel-engine generators. China and India are poised to install more than 160 and 50 new thermal power plants respectively in the forecast timeframe, which presents a positive outlook for the centrifugal air compressor market in the region.
Key market players are: Hitachi Industrial Equipment Systems Co Ltd, Atlas Copco, Kobelco Compressors America, Inc., Kirloskar Pneumatic Company Limited, Dresser-Rand, HATCO company, etc. The industry participants are striving to increase their share in the fragmented centrifugal air compressor market through strategic partnerships and acquisitions. For instance, in April 2017, Hitachi acquired Sullair LLC, a significant manufacturer of air compressors. Through this acquisition, Hitachi gained access to Sullair’s global sales network in the North American region.
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Table of Content:
Chapter 1. Methodology and Scope
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Definitions & forecast parameters
184.108.40.206. Forecast parameters
1.2. Data sources
Chapter 2. Executive Summary
2.1. Centrifugal Air Compressor industry 360 degree synopsis, 2013 – 2024
2.1.1. Business trends
2.1.2. Product by end-user trends
2.1.3. Casing trends
2.1.4. End-user trends
2.1.5. Regional trends
Chapter 3. Centrifugal Air Compressor Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2013 – 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.3.2. Distributor channel analysis
3.4. Industry impact forces
3.4.1. Growth drivers
220.127.116.11. High automotive industry growth in Asia Pacific and the U.S.
18.104.22.168. Rapid industrial growth in Asia Pacific
22.214.171.124. Technological developments in the field of centrifugal air compressors
3.4.2. Industry pitfalls & challenges
126.96.36.199. Strict regulations regarding centrifugal air compressor usage
188.8.131.52. Popularity of centrifugal air compressor rental services
3.5. Growth potential analysis
3.6. Regulatory landscape
3.7. Porter’s analysis
3.8. Company market share analysis, 2016
3.8.1. Strategy landscape
3.8.2. Emerging business models
3.9. PESTEL analysis
3.10. Pricing analysis
3.10.1. Regional pricing
3.10.2. Cost structure analysis
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