Reciprocating Air Compressor Market to Record an Exponential CAGR by 2026
Reciprocating
air compressor consist of piston-cylinder arrangement which is used
to compress air. In this type of air compressor, a piston moves
back-and-forth inside the cylinder to compress the air. The
reciprocating air compressor is also known as positive displacement
compressor. Reciprocating air compressor is available as lubricated
and oil-free. Rise in manufacturing activities, especially in the
automotive sector in Asia Pacific is expected to increase the demand
for reciprocating air compressor. However, preference for hiring air
compressors is likely to hamper the demand for reciprocating air
compressor during the forecast period.
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Segmentation
The
global reciprocating air compressor market can be segmented based on
method of action, product type, end-user industry, and region. In
terms of method of action, the reciprocating air compressor market
can be bifurcated into single acting and double acting. Single acting
reciprocating air compressor accounted for a major share of the
market in 2017 and is likely to continue its dominance during the
forecast period. This type of compressor is extensively used in
places such as small workshops and houses due to its ease operation
and portability. Double acting reciprocating air compressor is used
in high-pressure services. Based on product type, the reciprocating
air compressor market is segmented into stationary and portable.
Portable reciprocating air compressor is expected to expand at a
significant pace during the forecast period. Positive outlook
related to oil & gas exploration and mining activities coupled
with rise in construction activities in developing countries are the
major factors which is expected to increase the demand for portable
reciprocating air compressors between 2018 and 2026.
In
terms of end-user industry, the reciprocating air compressor market
can be divided into oil & gas, manufacturing, health care, home
appliances, food & beverages, semiconductor & electronics,
mining, and others. The manufacturing segment held a significant
share of the market in 2017. It is likely to dominate the market
during the forecast period. Manufacturing companies such as
automotive, construction equipment, and other products use compressed
air to operate pneumatic tools, cutting equipment, welding equipment,
and molding equipment, among others. Expansion of the manufacturing
sector, especially in Asia Pacific which is manufacturing hub drives
the demand for reciprocating air compressor.
Reciprocating
air compressor Market: Region-wise Outlook
Based
on region, the global reciprocating air compressor market can be
split into North America, Europe, Asia Pacific, Latin America, and
Middle East & Africa. Asia Pacific held a major share of the
reciprocating air compressor market in 2017. It is likely to dominate
the market during the forecast period. Companies across the globe are
focusing on Asia Pacific, as it is a high potential region for
various industries. Growing end-user industries such as
manufacturing, health care, and electronics are major factors driving
the reciprocating air compressors market in Asia Pacific. The
reciprocating air compressor market in Asia Pacific is projected to
expand at a significant pace in the near future. After Asia Pacific,
Europe constituted a major share of the reciprocating air compressors
market in 2017. Presence of leading automotive companies where
reciprocating air compressors are used in production lines and other
purposes. Growth in the automotive industry across all regions along
with Europe drives the demand for reciprocating air compressor.
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Reciprocating
Air Compressor Market: Key Players
The
global reciprocating air compressor market is competitive due to the
presence of large and small companies at the global and regional
level. Some of the prominent companies operating in the reciprocating
air compressor market include Atlas Copco, Ingersoll-Rand, Elgi
Compressors USA, Inc, Kaeser Kompressoren, Gardner Denver, Inc., and
Belaire Compressor. Companies are focusing on product innovation,
pricing strategy, and strong distribution network to gain competitive
advantage over the market. Some companies focus on strategic
partnerships and acquisition to expand their business segments.
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