According to a new report by Allied Market Research, titled, North America Air Compressor Market by Type, Technology, Lubrication Method, And Country: Opportunity Analysis and Industry Forecast, 2016-2023, the North America Air Compressor market was valued at $4,475 million in 2016, and is projected to reach at $5,754 million by 2023, growing at a CAGR of 3.68% from 2017 to 2023. Stationary and rotary segments possess the maximum growth potential and are expected to create lucrative opportunities for industry players.
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The North America air compressor market includes portable and stationary compressors. These compressors have witnessed increased adoption among manufacturing, energy, healthcare, chemicals, and other sectors over the past few years. Furthermore, the growth in demand for energy efficient and technologically advanced products, growth of end-use industries, and increased investment for new product development has encouraged the demand for the North America air compressor market. The market share is projected to grow at a CAGR of 3.68% from 2017 to 2023, owing to increase in demand for application-specific solutions.
Air compressors are increasingly deployed in the U.S., followed by Canada and Mexico. The U.S. showed the highest market share in 2016 due to increase in adoption air compressors end-use industries and rise in number of developmental strategies followed by market leaders for business expansion. The North America air compressor market is impacted by the need to improve the productivity of the business processes. However, air contamination caused due to oil lubrication in oiled air compressors and noisy operations of oil-free compressors limit the market growth.
The report features the competitive scenario of the North America air compressor market and provides comprehensive analysis of the significant growth strategies adopted by major players. The key players operating in North America air compressor market include Atlas Copco, Ingersoll Rand, Suzler Ltd., Mitsubishi Heavy Industries, Ebara Corp., Sullair, Kobe Steel, VMAC, Campbell Hausfeld, Porter Cable, and others.
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In addition, various new products are being offered by air compressor manufacturers to meet the growing demand of consumers. For instance, in June 2017, Atlas Copco launched a range of oil-injected rotary screw air compressors. These compressors are powerful and are responsible for minimal noise pollution. In January 2017, Allmand Bros Inc. launched Maxi-Air portable air compressor. In October 2013, Senco launched range of 200 PSI oil-free portable air compressors.
Increased adoption of IoT among various industry verticals, rise in number of industrial infrastructure projects, and growth associated with end use industries are some of the factors projected to drive the North America air compressor market.
Industry players in the North America air compressor market are constantly upgrading and introducing innovative products and services to strengthen their North America air compressor market share and broaden customer base. For instance, in June 2017, Atlas Copco launched G200-250 (VSD) oil-injected rotary screw air compressor. It also increases energy efficiency by 10% and flow rate by 8%.
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