The global industrial air compressor market is projected to grow from an estimated $25.71 billion in 2016 to $34.87 billion by 2021, at a CAGR of 6.3 per cent, a report said.

Key players are trying to penetrate emerging markets, and are adopting various strategies such as contracts and agreements, expansions, mergers & acquisitions, and new product launches to increase their market share, added the report entitled "Industrial Air Compressor Market by Type (Positive Displacement & Dynamic), Maximum Pressure (0–20 bar, 20–100 bar & above), Output Power (0–50 kW, 50–250 kW, 250–500 kW & above), Seal (Oil immersed & Oil free), End-Use - Global Forecast to 2021" from MarketsandMarkets, a global business research firm.

Expansion of liquefaction and regasification facilities across globe, rising demand for energy efficient compressors, and rapid industrialization in emerging economies are the key driving factors for industrial air compressors, it said.

Positive displacement compressors are expected to hold a larger share of the market by product type in the industrial air compressor market. Growing demand for high output pressure compressors is likely to be the major driving factor.

Reciprocating and rotary are the two types of technologies available in positive displacement compressors. Rotary compressors have low maintenance cost and are more efficient compared to reciprocating compressors but are only available in the low to medium output pressure range.

The market for rotary compressors is expected to grow at the highest rate among other compressor technologies during the forecast period due to their wide range of applications and high efficiency.

The oil & gas industry is the largest contributor to the industrial air compressor market, and also acts as a key driver of the market. Though upstream investments have witnessed a sharp fall in the last two years, large investments are planned to construct gas liquefaction trains in the US and Australia. Moreover, China and India are expanding their regasification facilities.

New cross border pipeline networks being planned for oil & gas transportation which would also drive the compressor market. The industrial air compressor market is driven by the rapid industrialization of emerging economies such as China, Saudi Arabia, India, South Africa, and other South Asian countries. Furthermore, the demand for advanced and efficient compressors has boosted the demand for air compressors in several manufacturing industries.

The report also provides an in-depth analysis of the competitive landscape, along with profiles of leading industrial air compressor market players such as Atlas Copco AB (Sweden), Mitsubishi Heavy Industries, Ltd. (Japan), Ingersoll-Rand plc (Ireland), Hitachi Ltd (Japan) and MAN SE (Germany).

The Asia-Pacific region is expected to witness high growth in the power generation, manufacturing, and food & beverages industries from 2016 to 2021. Moreover, new policies for improved product quality by ISO (International Standardization Organization) are likely to boost demand for air compressors. – TradeArabia News Service