Air Compressor Market Segmentation, Application, Technology and Analysis Report Forecast to 2022

The global Air Compressor Market size is expected to reach $37 billion by 2022 owing to the growing awareness on energy saving and increasing industrialization. These devices supply gas for various industrial and non-industrial activities and are used for transporting and compressing of gas in the oil & gas industry. They are widely used in various other end-use industries such as automobile, chemical plants, transport, pharmaceuticals and oil extraction. Development of energy-efficient air compressors are preferred by numerous industries, air contamination due to oil lubrication and noisy operations of oil-free compressors are limiting the adoption of these devices. Innovation in technology is leading to the higher adoption of air compressors especially in emerging economies.

Air compressor market is segmented on the basis of product design, mobility and lubrication method. On the basis of design of the product it is classified as centrifugal, rotary and reciprocating. Centrifugal air compressor is anticipated to have a significant growth owing to demand in industries such as power generation, automobile and others. Factors driving the centrifugal compressor growth include delivering optimal and constant flow of air pressure.

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The mobility segment includes stationary and portable air compressor. Portable air compressor segment is expected to increase during the forecast period owing to increasing end-user demand for enhanced air quality and reliability. On the basis of lubrication, it is classified as oil lubricated and oil free air compressor. Oil free compressors are expected to receive demand from industries such as metal and mining, electronic assembling, infrastructure, pharmaceuticals and food & beverage.

Portable air compressor and generators are a reliable power source for machines and tools mainly used in construction and mining activities as well as for various industrial applications due to their handiness in transporting the equipment. Ease in handling and low maintenance of these devices has driven adoption in low-duty applications. Asia Pacific is expected to witness substantial growth over the forecast period on accounts of strong rail network in India and China. Latin America and MEA are expected to witness prominent growth owing to growing awareness towards eco-friendly products and changing regulatory scenario. Growing food and beverage industry in the U.S. is expected to increase the consumption. Escalating demand for diesel, gasoline and other fuels has led to the development of petrochemical and oil refineries plants in Brazil.

Key factors driving industry growth include reciprocating systems with dual cylinders and oil-free scroll offering, low-cost operations, rising adoption of variable speed air compressor controllers and low maintenance cost of compressors. Significant demand from the oil and gas industry is another factor driving industry growth. It is expected that application of air compressor across various industrial sector to increase during the forecasted period. Increasing demand of noise and pollution free, energy-efficient-power sources is also anticipated to drive industry growth.

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Superior air quality along with high reliability offered is also expected to propel the industry growth over the coming years. Moreover, industry leaders are taking initiatives to increase the overall performance of these devices, which is further expected to escalate the demand. Several manufacturers are trying to design and develop next-generation devices consisting of a variable speed drive. This will help in reducing energy consumption as compared to fixed speed air compressors.

Flexibility towards the end-user requirements and enhanced service offerings may challenge the industry growth. Escalating prices of raw material, noise pollution and bulky size may also hinder demand.

Many manufacturers have focused on developing application specific devices to accommodate the demand of the consumer. Product launches, expansions and acquisitions are the major growth strategies adopted by various companies such as Mitsubishi Heavy Industries, Kirloskar, Ebara, ELGI and others. Kobe Steel announced its expansion in South American air compressor market to hit this profitable opportunity. In 2013, Atlas Copco re-launched their SF series of oil free compressors, which have increased adoption among the end users and OEMs. In 2015, Ingersoll Rand acquired Cameron’s centrifugalcompression division to widen its air compressor service portfolio and strengthen its position in the market. Leading players in the market are expanding their geographical presence with the focus on the Asia Pacific region. They are investing heavily in order to innovate and improve the existing technology with an aim to expand their customer base. Other players such as EBARA and ELGI also started to provide products at low prices, thus intensifying competition.

Owing to low production cost in Asian countries, manufacturers are investing in economies such as India and China. Increasing demand in emerging economies are proving new growth opportunities to introduce new products in the market.

Other prominent vendors in this market include Chicago Pneumatic, Wuxi compressor, Siemens, Fusheng, Hitachi, General Electronics, Kaishan, Gardner Denver, Shanghai Feihe industrial group, Dresser rand, Yujin and Bauer Group.

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Plate and Frame Heat Exchanger Market Consumption, Capacity, Production, Sales, Market And Revenue Forecast To 2022

The global Plate and Frame Heat Exchanger Market size was estimated at USD 3.35 billion in 2014 and is projected to reach USD 5.99 billion by 2022. It is expected to experience a significant growth over the forecast period. This can be attributed to growing use in applications such as commercial, industrial and engineering sectors in addition to rising product utilization, especially in residential & commercial HVAC, automotive segments.

The industry is identified by growing emphasis on enhanced efficiency standards together with technological improvements and new developments. These factors are expected to reduce total ownership expenses and improve durability & efficiency levels of heat exchangers over the next eight years. Need for power generation coupled with infrastructural expansions in the energy sector is expected to serve the growth over the next seven years.

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Plate and frame heat exchanger industry is identified by a regular procurement of raw material supplies such as stainless steel, EPDM rubber and chloroprene rubber. However, chloroprene rubber in addition to stainless steel has fluctuating prices of raw materials that are expected to hamper market growth. Technological advancements and innovations in the gasket, frame and plate designs are anticipated to increase the heat transfer efficacy, reduce operating costs, maintenance costs and investment. The market is expected to be driven by new product development through the implementation of various technical innovations

In 2014, frame heat exchanger and gasketed plate were the leading product segments capturing approximately 50.0% of the market revenue. Widespread application in power plants owing to compact size and lower maintenance has resulted in this high market penetration. It is widely used for cooling, heating, evaporation, condensation and heat recovery applications. The market is expected to have a positive impact on account of growing gasketed heat exchanger demand, especially in petrochemical and power generation and automotive sector.

Increasing use in floor heating, economizers, refrigerant evaporators, oil coolers, condensers and super-coolers is expected to serve the brazed plate heat exchanger market significantly however, the market can face a few challenges with respect to competition from new market players thereby impacting the growth of plate heat exchanger industry from 2016 to 2024. Further, the conventional technology is being replaced with highly efficient substitutes which are expected to pose a major threat to market growth. On the other hand, welded plate heat exchanger is anticipated to experience high growth owing to its rising use in numerous industries such as petrochemical, automobile, paper manufacturing and pharmaceuticals on account of improved features in performance.

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In 2014, HVAC contributed to over 20.0% of the overall market and is anticipated to witness high growth in the next eight years. Asia Pacific is expected to fuel demand in the sector on account of growing construction projects in Asia Pacific over the review period. Rising need for efficient thermal management in commercial and residential establishments coupled with increasing consumer spending is anticipated to propel HVAC demand from 2016 to 2024. HVAC systems form a key segment under heat exchangers. Rising awareness concerning energy management and conservation and cutback in energy bills is expected to propel demand for the product in HVAC sector.

Chemical industry constituted for nearly 20% of plate and frame systems market revenue in 2014. Key products in chemical industry include inorganic chemicals, petrochemicals and fertilizers. Petrochemical derivatives such as ethylene, base chemicals and polymers and methanol involve crucial conditions that involve well-organized and efficient thermal management systems in the manufacturing units. Production capacity expansions and mergers and acquisitions of chemical facilities in Asia Pacific and Europe are anticipated to fuel chemical market from 2016 to 2024.

Europe emerged as the largest regional segment and is thereby expected to grow at an estimated CAGR exceeding 6.3% over the forecast period. However, high growth regions such as Asia Pacific and CSA regions may pose a threat to the European market and capture a part of the overall market share over the forecast period. Recent improvements in nuclear and renewable energy segments are projected to enhance requirements in the power generation segment in Europe. Additionally, the plate and frame heat exchanger demand is expected to be driven by growing need for heat recovery applications in HVAC, food and beverage and chemical sectors over the forecast period.

In 2014, Asia Pacific constituted for nearly 20% of the overall industry. Need for commercial and industrial establishments coupled with growing construction projects are likely to propel HVAC market in the region. It is anticipated to witness the fastest growth over the review period. Supportive government policies and initiatives in Japan and India as an effort to develop solar and thermal energy are estimated to drive market demand in power generation sector for heat exchangers. Key industry players include Alfa Laval AB, Danfoss A/S, Tranter Inc., GEA Group, SPX Corporation, LLC, AIC S.A., SGL Carbon Technic, API Heat Transfer, Guntner GmbH & Co. KG and Kelvion Holdings GmbH.

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