WHO Scrutinizes Compressed Air as Potential Source of Coronavirus
Amidst the coronavirus (COVID-19) era, air compression in various industries has been deemed as an essential business by the CDC (Centers for Disease Control and Prevention), federal, state, and local governments in the U.S. Hence, companies in the industrial air compressor market are focusing on fulfilling their business continuity plans by providing outstanding products and services to customers. They are constantly monitoring the situation amidst the COVID-19 pandemic to utilize the best advices given by local governments about hygiene and safety practices at plants.
It has been found that compressed air is a potential source of coronavirus, which requires companies to install sterile air filters in equipment to prevent the contamination of food and pharmaceutical products. Frequent filter sterilizations are vital to prevent product contamination since the WHO (World Health Organization) is under scrutiny for investigating the rare possibility of an aerosol-generating procedure that could be caused by air compressors.
These factors are expected to drive the industrial air compressor market during the forecast period.
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Centrifugal Compressor Technology Replaces Outdated and Costly Compress Designs
Distinct advantages of centrifugal air compressors are translating into revenue opportunities for manufacturers. For instance, Ingersoll Rand – a supplier of complete air compression systems is promoting its MSG® (multi-stage geared) and TURBO-AIR® integrally geared centrifugal compressors that offer outstanding design flexibility. As such, companies in the industrial air compressor market are strengthening their supply chains with aftermarkets to broaden their revenue streams. They are increasing their R&D muscle to improve the flow, input capacity and discharge pressures of industrial air compressors.
The centrifugal compressor technology is increasingly replacing outdated and costly compressor designs in the market. Such attributes of centrifugal compressors bode well for growth of the industrial air compressor market, which is predicted to reach a value worth of US$ 26.6 Bn by 2030. Leading market players with decades of centrifugal expertise are at an advantage as compared to emerging players.
Electric-powered Portable Compressors Help Reduce CO2 Emissions and Fossil Fuel Usage
Variable-speed drives, IoT (Internet of Things) capabilities, and oil-free operations of the next-gen industrial air compressors are delivering high energy efficiency. Companies in the industrial air compressor market are participating in trade shows to gain larger visibility for their new and upgraded products. However, companies need to focus on solutions that cut back on carbon dioxide (CO2) emissions during operations. For this, companies are providing alternatives to fossil fuels that act as efficient energy sources.
Swedish multinational industrial company Atlas Copco has unveiled its latest generation of clean compressors that function on sustainable mobile air technology. Manufacturers in the industrial air compressor market are powering their equipment with lithium-ion batteries and energy-efficient electric motors. Electric-powered portable compressors are emerging as a fitting replacement to diesel-driven units at urban construction sites. The ever-increasing nature of the construction industry is creating a positive impression on compressor manufacturers to boost their production.
Collaborative Efforts of Manufacturers Spark Innovations in Reciprocating Compressors
Manufacturers in the industrial air compressor market are setting their collaboration wheels in motion to innovate in reciprocating compressors. Compressed air & gas system specialist The Titus Company is partnering with multiple equipment manufacturers such as Sauer Compressors to increase their portfolio in reciprocating high-pressure air compressors. Manufacturers are vying opportunities to work with equipment manufacturers that have an extensive experience in oil & gas, military and shipping industries. As such, there is a high demand for affordable industrial air compressors that are delivered on time.
High-performance attributes of air compressors are highly preferred by end users in order to withstand tough work environments. In order to meet the convenience of end users, manufacturers in the industrial air compressor market are increasing their production capabilities to introduce oil-free compressors.
Leading Market Players Leverage Incremental Opportunities in India’s SME Sector
The exponential growth of Asia Pacific countries such as India and China are attracting investor sentiment. Companies in the industrial air compressor market are increasing efforts to broaden their portfolio in specially designed products. Leading market players are providing a range of industrial air compressors to small and medium enterprises (SMEs) in India to meet changing demands of end users. These market players are increasing their production capacities for piston air compressors and screw air compressors to meet various end-use cases. Energy savings and enhanced productivity levels for customers are the key focus points for compressor manufacturers.
Variable speed drive oil-injected screw air compressors are becoming pervasively mainstream in energy savings application, resulting in reduced costs for customers. Companies in the industrial air compressor market are increasing their research capabilities in fixed speed oil-injected screw air compressors to introduce revolutionary screw elements.
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Industrial Air Compressor Market: Overview
- The global industrial air compressor market is expected to reach US$ 26.6 Bn by 2030 from US$ 18.1 Bn in 2020, expanding at a CAGR of ~4% from 2020 to 2030
- The global industrial air compressor market is currently driven by the growing demand for portable air compressors among industries. The industrial air compressor market in Asia Pacific is projected to expand at a high CAGR during the forecast period. The market in Asia Pacific is expected to expand at a rapid rate, owing to the rising demand for petrochemical products such as ethylene derivatives, propylene derivatives, and aromatic products in the region.
- China is the most attractive industrial air compressor market in Asia Pacific. The incremental opportunity is significantly higher for China, as it accounts for a dominant share in the industrial air compressor market in the region.
- The industrial air compressor market report provides analysis of the global industrial air compressor market for the period 2018 – 2030, wherein 2019 is the base year, 2020 is the estimated year, and 2021 to 2030 is the forecast period. Data for 2018 has been included as historical information.
- An industrial air compressor is a positive-displacement compressor, which works on air principle. An air compressor converts electrical energy into powerful kinetic energy, using an electric motor, diesel or gasoline engine, etc.
