Allied Market Research published a report titled “North American Air Compressor Market (Type, Technology, Lubrication Type and Countries) - North America Opportunity Analysis and Forecast - 2013 – 2020.” The report forecast the North American air compressor market to reach a value of $6.6 billion by 2020, registering a CAGR of 6.1% during 2014 – 2020.
The centrifugal air compressors segment of North America holds around 15% of the overall market share in terms of value. It is expected to reach 30% in its market share by 2020. The requirement of pure air in numerous application in fields such a pharmaceutical, FMCG, and medicine would spur the adoption rate of oil free air compressor by 2020 with an estimated market share of 46% in terms of value.
Among the different lubrication methods, oil lubrication is normally used in the North American market. The oil lubrication air compressors accounted for more than half the market size by value. In terms of mobility, the air compressor market is segmented into portable and stationery models.
The stationary air compressors were the significant income generating segment in 2013 and would keep on driving the business through 2020, taking into account their numerous applications in heavy industry. The portable air compressors become valuable in therapeutic & pharmaceutical industry, MCG industry and on-site application development.
In terms of technology, the air compressors market consists of rotary, centrifugal air and reciprocating compressors. Centrifugal is known as dynamic air compressor; while, reciprocating and rotary are known as positive displacement air compressors; whereas. Rotary air compressor generated maximum revenues in 2013 and would continue to lead the market in terms of revenue by 2020. Centrifugal air compressor would also experience a higher growth rate due to its numerous applications, and ability to provide constant and high movement of air pressure coupled with the oil free operations.