Global Air Compressor Market: Industry Analysis & Outlook (2017-2021)
Air compressors are being put to use in a wide variety of sectors for different applications. Compressed air is regarded as the fourth utility after electricity, natural gas and water. An air compressor is a machine which is capable of converting electrical power into kinetic energy, specifically by utilization compressed air. It is a device that converts power using an electric motor, diesel or gasoline engine, into potential energy stored in pressurized air, also known as compressed air.
Compressed air is basically of two type’s positive displacement, further bifurcated into reciprocating and rotary and centrifugal compressors. Air compressors were initially designed to compress air to higher pressures and harness this potential energy source. Every air compressor has different types of controls and components depending upon the use it is being put to.
The global air compressor market has a very optimistic view because it is being seen as a renewable source of energy. Factors responsible for the growth of the market include increasing adoption of air compressor in different industries, favorable government regulation & policies, growing popularity of automobiles and encouraging economic environment. Major trends of the market include increased focus on R&D and high growth prospects in emerging markets. The market will be hindered by high prices of raw materials.
The report offers an in-depth analysis of the “Global Air Compressor Market: Industry Analysis & Outlook (2017-2021)”. Major companies that have been covered in the report include Atlas Copco, Ingersoll-Rand Plc., Gardner Denver, and Hitachi Ltd.