The global portable air compressor market is projected to grow at a CAGR of over 4% and is estimated to reach a valuation of over US$ 8 Bn by the end of the forecast period (2019-2027).
Portable air compressors are witnessing a steep sales trajectory during the last five years due to their large scale utilization in tire inflation and mining activities.
The rapid utilization of portable air compressors in road works, power generation, and packaging machines in a diverse range of industries is further amplifying demand for portable air compressors. Moreover, governments in different economies are implementing stringent gaseous emission standards which is considerably increasing demand for portable air compressors.
Key Takeaways of the Portable Air Compressor Market
• Portable air compressors are finding maximum utilization in building & construction operations. With portable air compressors being made available in assorted sizes and weight, the building & construction industry is presently the largest investor in portable air compressors
• The oil-free sub-segment is foreseen to grow with the highest CAGR of over 5%. When compared to oiled lubrication, oil-free portable air compressors are lighter in weight and do not require much maintenance, thus enhancing its growth prospects
• Asia Pacific accounted for over 50% of the global portable air compressor market share in 2018 owing to increased spending on industrialization and infrastructure development in the region
• The occurrence of a number of screw compressor manufacturers in China and India and a large industrial base for electronic and semiconductor manufacturing in China and Taiwan is projected to further drive the portable air compressor market in the region
• Heavy investment in oil & gas exploration activities is also projected to have a positive impact on market growth for the Middle East & African regions
“With compressed air turning to be the most extensively utilized form of energy, the demand for portable air compressors is proliferating. Adding to this, novel innovations are being introduced by primary market players which is further contributing to overall growth” says the Fact.MR analyst
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