23 Dec
2014
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.
Akhilesh Prabhugaonkar
Author's Bio- Akhilesh Prabhugaonkar holds a bachelors degree in Electronics Engineering from the reputed Vishwakarma Institute of Technology. He has a special interest in the fields of forensics, world history, international relations and foreign policy, sports, agriculture, astronomy, security, and oceanography. An ardent bibliophile and melophile, Akhilesh loves to write on topics of his interest and various other societal issues. This love for writing made him enter the professional world of content writing and pursue his career in this direction.
How Integrating Advanced AC Electric Motors Does Optimize Equipment Potential?
Decoding the Increased Applicability of OSS and BSS in Modern Telecommunication Networks
Digital Mortgage Software: Boosting Customer Experience and Lender Operations
Exploring New Formulations and Delivery Methods in Beta-Alanine Supplementation
What Lies Ahead for the Next-Generation Bus Infotainment System?
Boosting Collagen Peptides & Gelatin Marketing: Research, Social Media, and Sustainable Sourcing
Car Sharing Telematics: The Key to Modern Fleet Efficiency and User Convenience
From Scroll to Consult: How Social Media Actively Generates Leads for Laser Treatments
Effortless Clean: The Future of Hygiene with Residential Robotic Vacuum Cleaners