LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global portable air compressors market to grow at a CAGR of close to 4% during the period 2018-2022, according to their latest report.
This market research report segments the global portable air compressors market into the following end-users (manufacturing, construction and mining, energy, healthcare, food and beverage, and electronics) and key regions (the Americas, APAC, and EMEA).
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In this report, Technavio analysts highlight the reduction in energy consumption and maintenance cost as a key factor contributing to the growth of the global portable air compressors market:
Reduction in energy consumption and maintenance cost
The compressor industry is witnessing the introduction of several patented and innovative air compressor technologies in the market with the advances mostly related to enhancements in their design, which improves energy efficiency. Before 2013, variable speed drive compressor was one of most efficient compressor designs as it offered energy saving of nearly one-third compared with a traditional compressor with the same specifications.
Players such as Atlas Copco designed and launched VSD compressors that offer energy efficiency of nearly 50% over other portable air compressors in the market. VSD compressors are vertically aligned with the motor and drive train sharing a drive shaft. Such alignment reduces the footprint significantly, allowing portable air compressors to be installed closer to the point of use. A fan design with the circuit ensures high efficiency in cooling the mechanism and reduces the noise levels. These kinds of innovations in portable air compressors ensures efficiency.
According to a senior analyst at Technavio for unit operations, “The cost of regular maintenance is accounted as one-tenth of portable air compressor's cost. This becomes a matter of concern for the maintenance of portable air compressors. Competitors in the market are designing compressor systems that reduce the overall cost of the system. Therefore, innovations in the components of portable air compressor systems will drive the market growth during the forecast period.”
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Global portable air compressors market segmentation
APAC was the leading region for the global portable air compressors market in 2017, accounting for a market share of 45%. By 2022, APAC is expected to gain market share of 1%. However, the Americas and EMEA are expected to witness a decline.
APAC will be followed by the Americas regarding market growth and share. The America’s major electronics and automotive manufacturing hubs are the US, Mexico, and Canada, where innovations and production techniques undergo enhancements periodically, propelling technological advances in machinery and equipment as well. EMEA is expected to hold the smallest share of the global portable air compressors market during the forecast period.
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