Rotary Air Compressor Market Trends Expected to Reach $12,634 Million by 2023
October 13, 2021
Rotary Air Compressor Market Opportunities & Challenges in Near Future by 2023PORTLAND, OR, UNITES STATES, October 13, 2021 /EINPresswire.com/ -- Global Rotary Air Compressor market was valued at $ 9,298 million in 2016, and is projected to reach at $ 12,634 million by 2023, growing at a CAGR of 4.50% from 2017 to 2023. Stationary and oil free segments possess the maximum growth potential and are expected to create lucrative opportunities for industry players.
At present, Rotary Air Compressor witness an increased adoption in the developed and the developing regions, owing to technological innovations in product offerings, increased adoption of industry 4.0, growth associated with end-use industries, surge in demand for energy efficient products, and increase in application areas among end users. However, stringent regulatory standard is expected to restrict the Rotary Air Compressor market growth during the forecast period.
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The key players operating in the market include Atlas Copco AB, Kobe Steel Ltd., Elgi Equipments Limited, Ingersoll-Rand PLC, Kirloskar Pneumatic Company Limited, Mitsubishi Heavy Industries Ltd., Suzler Ltd., Ebara Corporations, Porter Cable, and VMAC Global Technology Inc., and others.
By Lubrication Method
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The oil free segment dominated the global Rotary Air Compressor market, with around 55% share in 2016, followed by oiled segment. Furthermore, oil free segment is estimated to grow at the highest CAGR of 4.80%, owing to widespread adoption of advanced products. For instance, in October 2016, Kobe Steel launched Emeraude-ALE oil-free air compressors.
Key Findings of the Rotary Air Compressor Market:
• The stationary segment dominated the global Rotary Air Compressor market in 2016.
• The oil-free, power generation sector, manufacturing, and food & beverage industry segments are estimated to provide significant growth
opportunities to the key market players.
• The Asia-Pacific market is expected to be dominant, in terms of market size. However, Asia-Pacific and LAMEA are estimated to possess the highest
CAGR during the forecast period.
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