Portable Air Compressor Market Will Grow at 4% CAGR to Cross $7bn by 2025: GMI
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Author:xingdamachinery
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Published time: 2019-06-17
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Portable Air Compressor Market demand from food and beverage application segment is forecast to hit USD 250 million in 2024, driven by rising usage in food and beverages packaging, cleaning and processing activities.
The portable air compressor market share is set to rise from $6bn in 2018 to USD 7 billion by 2024, according to a new Global Market Insights, Inc. report. Portable air compressors are used in many industrial applications such as operating tools, product finishing and painting, cutting and welding, etc. They are preferred in industries where the same equipment can be used at different locations for air supply. Technological advancements have enabled companies to manufacture portable air compressors which are more compact in shape, have larger flow capacity, are noise free, and more efficient than their counterparts. These advancements in design have increased product demand for more challenging operations where stationary types were largely preferred in the past. These trends will have a positive impact on the overall portable air compressor market.
Compressor usage is directly related to the manufacturing trends in a region. As such, fast-growing economies such as China, India, South Korea, Thailand, etc. have transformed into lucrative markets for portable air compressor manufacturers. Countries with mature manufacturing industries such as the U.S., Germany, Japan, France, etc. will also account for a significant share of the demand owing to their high manufacturing outputs.
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