During the projected period (2019-2027), the global market for Electric Portable Air Compressors is expected to develop at a moderate CAGR of over 4%, reaching a worth of over US$ 8 billion. The portable air compressor market has been steadily growing in recent years, thanks to increased use in building sites, road construction, and packaging equipment across a wide range of industries. Over the forecast period, burgeoning infrastructure initiatives in APAC and MEA would provide manufacturers with attractive business prospects.
By the conclusion of the forecast period, the global portable air compressor market is expected to have grown at a CAGR of over 4%, with a market value of over US$ 8 billion (2019-2027). Because of their widespread use in tyre inflation and mining activities, Electric Portable Air Compressors have seen a sharp increase in sales over the previous five years. Electric Portable Air Compressors are being used more frequently in road construction, power generating, and packing equipment across a wide range of industries, which is driving up demand. Furthermore, governments in various economies are enacting strict gaseous emission laws, resulting in a significant increase in demand for Electric Portable Air Compressors.
Portable Air Compressor Market: Key Takeaways
- Building and construction enterprises are making extensive use of Electric Portable Air Compressors. With Electric Portable Air Compressors being made available in assorted sizes and weight, the building & construction industry is presently the largest investor in Electric Portable Air Compressors
- The oil-free sub-segment is expected to grow at the fastest rate, with a CAGR of over 5%. Oil-free Electric Portable Air Compressors are lighter in weight and require less maintenance than oiled Electric Portable Air Compressors, enhancing their growth prospects.
- Due to increased expenditure on industrialisation and infrastructure development in the area, Asia Pacific accounted for more than half of the global portable air compressor market share in 2018.
- The presence of several screw compressor manufacturers in China and India, as well as a substantial industrial base for electronic and semiconductor manufacturing in China and Taiwan, are expected to propel the portable air compressor market in the area even further.
- In addition, heavy expenditure in oil and gas exploration activities is expected to boost market growth in the Middle East and Africa.
“As compressed air becomes the most widely used kind of energy, the need for Electric Portable Air Compressors is increasing. Furthermore, primary market players are introducing novel innovations, which contributes to overall growth,” the Fact.MR analyst
APAC to Command Robust Demand Figures Owing to Proliferating Industrial Bases
Due to significant industrial and building activities in China and India, APAC is expected to have the greatest growth rate of roughly 4.5 percent during the projection period.
The advent of several screw compressor manufacturing businesses in China and India, as well as a substantial industrial base for manufacturing electronics and semiconductors in China and Taiwan, are likely to enhance demand for Electric Portable Air Compressors in the region.
Because the oil and gas industry is a big contributor to the market, countries with well-developed infrastructure will be the most lucrative air compressor markets. As a result, the Asia Pacific market will continue to provide attractive opportunities over the projection period.
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