What is Global Centrifugal Air Compressor Market?
The Global Centrifugal Air Compressor Market is a vast and dynamic sector that plays a crucial role in various industries worldwide. Centrifugal air compressors are mechanical devices that use centrifugal force to generate pressurized air or gas. They are widely used in numerous applications, including oil refineries, gas pipelines, chemical plants, natural gas processing plants, and many other industries. The global market for these compressors is substantial, with a wide range of manufacturers and suppliers competing for market share. The market's value was estimated at US$ 1156.8 million in 2023, and it is projected to grow significantly in the coming years.
Portable, Stationary in the Global Centrifugal Air Compressor Market:
The Global Centrifugal Air Compressor Market is segmented into portable and stationary based on the type of compressor. Portable centrifugal air compressors are compact, lightweight, and easy to transport, making them ideal for use in construction sites, mining operations, and other remote locations. On the other hand, stationary centrifugal air compressors are larger and more powerful, designed for use in industrial settings where large volumes of pressurized air are required. These compressors are typically installed in a fixed location and require a dedicated power source. Both types of compressors have their unique advantages and are chosen based on the specific needs of the application.
Food and Beverages, Oil and Gas, Energy, Semiconductor and Electronics, Manufacturing, Others in the Global Centrifugal Air Compressor Market:
The Global Centrifugal Air Compressor Market finds extensive usage in various sectors such as Food and Beverages, Oil and Gas, Energy, Semiconductor and Electronics, Manufacturing, among others. In the Food and Beverages industry, these compressors are used for packaging, bottling, and cooling. The Oil and Gas industry uses them for extraction and refining processes. The Energy sector uses these compressors for power generation, while the Semiconductor and Electronics industry uses them in the manufacturing of chips and other electronic components. The Manufacturing sector uses these compressors for various applications, including powering pneumatic tools, spray painting, and material handling.
Global Centrifugal Air Compressor Market Outlook:
Looking at the market outlook, the Global Centrifugal Air Compressor Market is on a positive growth trajectory. In 2023, the market was valued at US$ 1156.8 million. The market is expected to grow at a Compound Annual Growth Rate (CAGR) of 4.5% from 2024 to 2030. By the end of this period, the market is projected to reach a value of US$ 1567.4 million. This growth is driven by the increasing demand for centrifugal air compressors in various industries, technological advancements, and the expansion of industrial sectors in emerging economies.
| Report Metric | Details |
| Report Name | Centrifugal Air Compressor Market |
| Accounted market size in 2023 | US$ 1156.8 million |
| Forecasted market size in 2030 | US$ 1567.4 million |
| CAGR | 4.5% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Atlas Copco, Hitachi Industrial Equipment Systems, General Electric, Kirloskar Pneumatic, Gardner Denver, Inc., Ingersoll-Rand plc |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
