February 16, 2023 08:06 ET | Source: ReportLinker ReportLinker

New York, Feb. 16, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Portable Air Compressors Market - Global Outlook & Forecast 2023-2028" - https://www.reportlinker.com/p06420157/?utm_source=GNW The increasing adoption of variable-speed systems, low maintenance cost, effective operation, and retrofitting for existing methods are some factors propelling the global portable air compressor market among the end-use industries. Moreover, energy-efficient portable air compressors are witnessing a surge in demand owing to their cost-effective operations. Hence, air monitoring systems are widely installed for measuring air compressors’ impact. Additionally, the subsequent introduction of oil-free-based projects and continuous industry investments are driving the demand for oil-free portable air compressors. Prominent manufacturers in the global portable air compressor market are developing eco-friendly and low-maintenance systems in their products to encourage users to opt for next-generation compressors. Further, companies such as Sullair, Ingersoll Rand Plc, and Atlas Copco Inc. have developed their products with next-generation systems and high-performance capabilities to differentiate them from other vendors in this highly competitive market. For instance, in 2020, Sullair introduced its redesigned, next-generation 1600H Tier 4 Final portable diesel air compressor, an enhanced model based on the direct voice of customer feedback. A few of the key features offered by these portable air compressors include increased efficiency and reduced noise levels. Moreover, technology integration is the key approach companies select to refine the technologies utilized in their new products and services. An effective technology-integration process starts in the earliest phases of an R&D project and provides a road map for all design, engineering, and manufacturing activities. Various manufacturers provided IoT-connected air compressors, including Kaeser, Atlas Copco, Elgi, and Hitachi Sullair. For instance, in 2020, Atlas Copco had approximately 100,000 IoT-connected compressors at approximately 35,000 production sites globally. Hence, these compressors deliver more than 150 data measurements per second, including sharing the real-time status of internal parts, such as the motor, belt, etc. Therefore, the advancement and development of new technologies have revolutionized the global portable air compressor market. Moreover, the constant efforts to develop new features and technology for compressors are expected to create new opportunities to expand the portable compressor market during the forecast period. FUTURE GROWTH OPPORTUNITIES The manufacturers are emphasizing manufacturing energy-efficient compressors by adopting VFD and VSD technologies, which enables them to save huge amounts of energy on their products in the portable air compressor market. For instance, Atlas Copco’s GA 7-110 VSD+ is an innovative oil-injected compressor that took energy efficiency to a new level with an approximately 50% reduction in energy consumption. Hence, such adoption of energy-efficient technologies is providing an opportunity to the manufacturers during the forecast period. Further, according to the report by the Department of Business, Energy, and Industrial Strategies state that compressed air systems are one of the large consumers of energy, consuming around 10% of all industrial electrical consumption or 8.8 TWh each year, which results in CO2 emissions of 3,100 kt/year. Hence, such factors are expected to encourage the adoption of energy-efficient electric portable air compressors during the forecast period. SEGMENTATION INSIGHTS • The reciprocating portable air compressors segment accounted for a revenue share of USD 623.18 million in the global portable air compressor market, owing to the high adoption of these compressors in manufacturing. Further, these compressors are widely used in the oil and gas sector for operating pneumatic equipment for pipelines, oil extraction & refining, and other processes. • In the end-user global portable air compressor market, the construction segment is growing at a high CAGR due to the increasing adoption of compressors to provide a power source to pneumatic tools such as sanders, grinders, and wrenchers, among others, and is expected to cross USD 360.34 million by 2028. • The consumption of portable compressors in the automotive sector is also gaining momentum across several regions. The gaining momentum is contributed by the compressed air used as an energy carrier in the automotive industry to move robotic lines, cutting & welding operations, paint pump operations, and many other applications. • The adoption of oil-free portable compressors is high in the APAC region owing to the growing manufacturing and automotive industries. In 2022, it accounted for a revenue share of 37.85% in the global portable air compressor market. • The oil-free segment in the lubrication portable air compressor market is expected to grow at a higher growth rate of 5.56% during the forecast period. The growth is propelled due to the growing implementation of regulations to curb emissions and governments’ rising focus on environmental safety. Segmentation by Product Type • Reciprocating • Rotary Screw • Centrifugal • Axial Segmentation by Lubrication Type • Oil-Injected • Oil-Free Segmentation by Airflow Type • Below 400 CFM • 400-800 CFM • Above 800 CFM Segmentation by Fuel Type • Conventional • Electric Segmentation by End-user Type • Manufacturing • Construction • Pharmaceutical/Healthcare • Automotive • Power Generation • Oil & Gas • Agriculture • Others GEOGRAPHICAL INSIGHTS APAC accounted for a revenue share of 47.08% in the global portable air compressor market in 2022, owing to continuous government investments in infrastructure development and rapid industrialization. The demand for portable air compressors from various applications, such as manufacturing, home applications, and automotive industries, drives the market growth. Moreover, several manufacturers of compressors in China and India are expected to drive industry growth in the region. Europe and North America are expected to grow steadily in the portable air compressor market during the forecast period. However, rising investments for infrastructural development in both regions are expected to augment the growth opportunities for industrial air compressors. Further, the increasing focus of consumers on easy-to-use and energy-efficient products is projected to propel the industry growth. Segmentation by Geography • North America o US o Canada • Europe o Germany o UK o Italy o France o Spain • APAC o China o Japan o South Korea o India o Australia • Latin America o Brazil o Mexico o Argentina • Middle East & Africa o South Africa o UAE o Saudi Arabia VENDOR LANDSCAPE The portable air compressor market can be defined as a competitive market characterized by several prominent industry players, such as Atlas Copco; Bauer Ingersoll Rand Plc; Kaeser Compressors; and Sullair LLC, among others. These companies are expanding their product portfolio to gain a larger industry share. These players are using several organic and inorganic growth strategies, such as M&A and collaborations, to bolster their position in the global market. Key Vendors • Atlas Copco • Gardner Denver • Kaeser Kompressoren • Ingersoll-Rand Other Prominent Vendors • Sullair, LLC • Deere & Company • Rolair Systems • Doosan Portable Power • Sullivan-Palatek Inc. • Hubei Teweite Power Technology Co., Ltd. • Elgi Compressors USA, Inc. • CIASONS • MAT Holding, Inc. • Quincy Compressor • Vanair Manufacturing • BAC Compressor • SeaComAir • JSC Remeza KEY QUESTIONS ANSWERED • How big is the portable air compressor market? • What is the growth rate of the portable air compressor market? • Who are the key players in the global portable air compressor market? • What are the key driving factors in the portable air compressor market? • Which region dominates the portable air compressor market? Read the full report: https://www.reportlinker.com/p06420157/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________