Reciprocating Air Compressor Market, Global Industry Growth Analysis, Recent Developments, Strategies, Market Impact, Segmentation, Size, Growth, Share, Trend, Future Demand and Leading Players Updates by Forecast to 2028
Posted on: 2021-09-22 12:49:11
Global Reciprocating Air Compressor Market: By Type (Stationary and Portable), By Lubrication (Oil-free and Oil-filled), By Power Rating (0-100 kW, 101-300 kW, 301-500 kW, and 500 kW and above), By Application (Semiconductor & Electronics, Oil & Gas, Manufacturing, Energy, Food & Beverage, Home Appliances, Healthcare, and Others), By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)), (Growth, Future Prospects, COVID-19 Impact Analysis, Drivers, Restraints, Trends, Opportunities, Investment Landscape, and Competitive Analysis, 2017 - 2028)
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Global Reciprocating Air Compressor Market: Overview
The global reciprocating air compressor market size was estimated at US$ XX Million in 2020 and is projected to grow at a CAGR of XX% over the upcoming years. The key growth factors behind the growth of reciprocating air compressor market include the growing demand for reciprocating air compressors in the food & beverage industry along with the increased use for reciprocating air compressor for oil & gas exploration activities across the globe. Furthermore, the emergence of new technologies along with the growing need for reciprocating air compressor across different industries are some other key factors for the growth of the reciprocating air compressor market in the upcoming years.
Global Reciprocating Air Compressor Market: COVID-19 Impact
The COVID-19 pandemic had a huge impact across all the industries including logistics & supply chain, oil & gas, manufacturing, electronics, and others. The partial or full lockdown in the year 2020 and 2021 across numerous countries such as India, the U.S., the U.K., Germany, and others had further impacted the supply of raw materials and finished products across the globe. The demand for automotive parts has decreased during the COVID-19 period due to halt in the manufacturing industry as the demand for raw materials and finished good has been halted during the COVID-19 period along with the decreased travelling worldwide during the COVID-19 period. Therefore, the global reciprocating air compressor market is severely impaced by COVID-19.
Global Reciprocating Air Compressor Market: Application Analysis
On the basis of application, the global reciprocating air compressor market has been segmented into semiconductor & electronics, oil & gas, manufacturing, energy, food & beverage, home appliances, healthcare, and others. The manufacturing category had a major share in the global reciprocating air compressor market in 2020 and had more than 20% of the market revenue share in the same year. This is majorly due to rising demand for reciprocating air compressor in the manufacturing industry. Moreover, the oil & gas category is estimated to witness substantial growth during the forecast period. This is ascribed to increased demand for reciprocating air compressor for the oil & gas exploration activities across the globe.
Global Reciprocating Air Compressor Market: Regional Analysis
Based on the regions, the global reciprocating air compressor market is segmented into North America, Europe, Asia Pacific, Latin America (LATAM), and Middle East & Africa (MEA). Asia Pacific is estimated to witness fastest growth in the global reciprocating air compressor market during the forecast period. This is ascribed to the growing manufacturing industry in the region along with the rising demand for reciprocating air compressor in the oil & gas industry in the region. Besides, North America and Europe is estimated to witness substantial growth during the forecast period.
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