Stationary product type is expected to dominate the Reciprocating Air Compressor Market over the predicted time.
Sellbyville, DE -- (SBWIRE) -- 10/11/2018 -- Stationary product type is expected to dominate the Reciprocating Air Compressor Market over the predicted time. This is owing to the high strength, efficiency, low oil level switch, automatic tank drain, and other superior features of the product. Significant demand for the product from automotive, manufacturing and other end-use industries will boost the segment demand by 2024.
Reciprocating Air Compressor Market size will surpass USD 6.4 billion by 2024. Rapid industrial development in the Asian countries will propel the reciprocating air compressor market they are widely used in various industries including food & beverage, oil & gas, energy, electronics, manufacturing, etc.
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Asia Pacific has been witnessing a healthy industrial development over the past few decades with the region accounting close to 40% of the global output. Automotive, electronics, manufacturing, and mining activities have witnessed a sharp growth in the last decade. The region's lower labor prices, easy raw material availability, and rising commodities demand have transformed it into a manufacturing hub of the entire world.
The size of reciprocating air compressors is one the crucial factors restraining the market growth. The size of a compressor tends to increase with increased capacity. Bulkier size results in higher amounts of noise and air pollution along with problems related to space limitations. Larger compressors are also less efficient than smaller ones leading to higher energy consumption.
The reciprocating air compressor industry is categorized into single and double acting technology-based air compressor. From these, single-acting will hold more than one-third share of the complete segment by 2024 owing to its wide acceptance and usage in automotive workshops and also used for household purposes.
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The industry is split into lubrication type which include oil filled and oil free. Oil filled segment will capture more than half of the whole share in 2024 owing to its superior mechanical features coupled with substantial use in manufacturing and industrial areas.
Home appliances application segment will capture more than half volume share in the application segment in coming years. This is all due to its extensive usage in air conditioners, freezers, refrigerators and other household appliances. Development in home appliances industry will boost the reciprocating air compressor market in the forecast timeframe.
Mexico reciprocating air compressor market will seize over half of the volume share in 2024 due to mature household and food & beverage industries coupled with significant growth in manufacturing industry. This in turn will positively influence the Latin America reciprocating air compressor market throughout the forecast period.
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Atlas Copco, Quincy Compressor, Elgi Compressors, Emersion Climate Technologies, Gardner Denver, Sullair, Ingersoll-Rand, Kaeser Kompressoren, and Frank Technologies are the major players in reciprocating air compressor market.