Global Compressor Market for Transport Applications 2017-2021
Compressors are used to provide either air or gas at very high pressures. The air thus provided is used for transmitting power in various applications like power air tools, pneumatic cylinder actuation, hoists and lifts, transportation medium, fermentation, and combustion. For the transport application, compressors are used in a variety of transit applications, such as main line trains, light rail trains, underground trains, trams, metros, hybrid buses, and electric buses.
Technavio’s analysts forecast the global Compressor Market For Transport Application to grow at a CAGR of 4.11% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global Compressor Market For Transport Application for 2017-2021. The market size is calculated based on the demand for compressors in the transport industry.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Compressor Market For Transport Application 2017-2021
Technavio recognizes the following companies as the key players in the global compressor market for transport application: Atlas Copco, Ingersoll-Rand, and Gardner Denver.
Other Prominent Vendors in the market are: Elgi Equipments, Dürr Technik, PARKER HANNIFIN CORP, Knorr-Bremse, Kirloskar Pneumatic Company, and Samvardhana Motherson Group.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is emergence of high-speed rail network. The high-speed rail network is gaining growth momentum as they deliver fast and efficient transportation. The increasing need to combat congestion, and save time and money is forcing people to demand for high-speed railways. These rails are also expected to foster economic development of second-tier cities and link it with other cities and integrate the region.”
According to the report, one of the major drivers for this market is Expanding railway industry. Rail systems require compressed air for various purposes. The air compressor along with electric drive motor, control system, and adsorption air system produces compressed air. A large reservoir then holds this compressed air. The compressed air is then used for friction brake system, suspension systems, and brake operations. The railways have seen an increased demand in the recent years which, in turn, will lead to an increased demand for compressors for transport application.
Further, the report states that one of the major factors hindering the growth of this market is fluctuating raw material prices. The main raw materials used in the production of compressors include aluminum, steel, and castings. The cost of these inputs does not remain constant but fluctuate continuously, due to their scarcity and inflationary pressures. Fluctuations in the raw material prices impact the productivity of the vendors regarding the number of units they need to manufacture. When the price increases, vendors have to bear the excess cost of ownership.
Atlas Copco, Ingersoll-Rand, Gardner Denver, Elgi Equipments, Dürr Technik, PARKER HANNIFIN CORP, Knorr-Bremse, Kirloskar Pneumatic Company, and Samvardhana Motherson Group.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook