The Global Market for Compressors & Vacuum Pumps is Forecast to Reach US$26.6 Billion by 2022

Ubiquity of Compressed Air Usage in Industries Worldwide Sustains the Evergreen Popularity & Indispensability of Compressors & Vacuum Pumps, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Compressors & Vacuum Pumps market. The global market for Compressors & Vacuum Pumps is forecast to reach US$26.6 billion by 2022, driven by the indispensability of high pressure air in industries and commercial establishments.

Compressed air is a vital utility as important as electricity, gas, chilled water, air handling, heating and cooling systems. Compressed air is generated onsite in close proximity to the location of consumption through electrically powered compressors and related equipment. Compressed air powers a staggering array of industrial tasks given its safety over either electricity or gas. The importance of compressed air can be put into perspective by the fact that it has direct impact on process throughput, manufacturing productivity, efficiency, product quality, and process waste control. Compressed air contains kinetic energy which can be used for a variety of purposes such as operating pneumatic equipment like gantry cranes etc., cooling atmospheric air, for controlling robotic machines in assembly line plants, to vaporize paints, for blasting and cleaning operations, among others. HVAC/air conditioning plants in hospitals, industries, commercial and residential buildings utilize compressors as the primary equipment to extract air from the atmosphere and compress it. Hydraulic industrial machines both stationary and mobile utilize compressors to deliver high quality power for machine operation. Industrial refrigeration plants including cold storage, process cooling and freezing are major end-users of compressors. Compressors are therefore the most ubiquitous electromechanical workhorse equipment used widely in homes, commercial establishments, and industries such as heavy machinery, general manufacturing, engineering, water pumping, process industries, mining energy generation, oil and gas exploration and distribution, power plants, petrochemicals, automobile service centers, textiles and chemical industry, among others.

Current challenges to growth in the market include anemic world economic growth, sluggish manufacturing industry, uncertain exploration investments in the oil & gas industry, a collapsing world mining industry, and mixed outlook for the petrochemicals and chemicals industry. While numerous challenges confront the market in the immediate term, outlook for long term growth nevertheless remains bright led by factors such as stable economic growth in developing countries, development of energy infrastructure in these countries, strong manufacturing base and growing government policy led support for upgrades and modernization. The market will also witness greater demand for equipment that complies with strict regulatory and safety norms. Manufacturers therefore will need to routinely enhance the quality and performance of compressors especially process gas compressors in order to fulfill legislative and other technical requirements. The strong pressure to cut carbon footprint is driving demand for new generation energy efficient compressors and vacuum pumps. Few of the breakthrough innovations in this space include development of integrated variable speed drive compressors, compressors with storage, water-cooled compressors with architectural compatibility for integrating a heat recovery system into the cooling circuit, compressors with energy saving electronic controls and monitoring systems, among others.

As stated by the new market research report on Compressors & Vacuum Pumps, Asia-Pacific represents the largest market worldwide. The region is also forecast to emerge as the fastest growing market with a CAGR of 6.7% over the analysis period, led by factors such as stable economic development of Asian countries, rapid industrialization, expansion in manufacturing bases, automation of industrial processes and massive investments in machinery, and strong replacement demand in favor of energy efficient solutions.   

Major players in the market include ANEST IWATA Corporation, Agilent Technologies Inc., ATLAS COPCO AB, Bristol Compressors International, Inc., Burckhardt Compression AG, Busch, LLC, Calsonic Kansei Corp., Donper Group, Ebara Corporation, Embraco SA, Emerson Climate Technologies, Inc., Gardner Denver, Inc., GEA Group Aktiengesellschaft, Huayi Compressor Co., Ltd., Ingersoll-Rand Plc, Kaeser Kompressoren GmbH, Mitsubishi Heavy Industries Compressor Corporation (MCO), Pfeiffer Vacuum GmbH, PIAB AB, Secop GmbH, SIEMENS AG, Desser-Rand Group Inc., Sulzer Ltd., Sundyne Corporation, Tecumseh Products Company, ULVAC Technologies, Inc., and Zhejiang Kaishan Compressor Co., Ltd., among others.

The research report titled “Compressors & Vacuum Pumps: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe, Asia-Pacific (China, South Korea, and Rest of Asia-Pacific), Middle East & Africa and Latin America. Product segments analyzed in the report include Compressors (Positive Displacement Compressors and Dynamic Compressors) and Vacuum Pumps (Rotary Vacuum Pumps, Liquid Ring Vacuum Pumps, Diaphragm Vacuum pumps, Diffusion Vacuum Pumps, Cryogenic Vacuum Pumps and Turbomolecular Vacuum Pumps).

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