New York, June 23 2022 The global industrial air compressor market size is expected to reach USD 53.88 Billion in 2030 and register a revenue CAGR of 4.4% over the forecast period, according to the latest report by Reports and Data. Increasing applications in the power generation industry for starting gas turbines and controlling equipment emissions is one of the crucial factors driving industrial air compressor market revenue growth.
Industrial air compressors have several advantages over electric and hydraulic power due to their capability to offer maximum flexibility, safety, and have fewer maintenance charges. In addition, industrial air compressors have fewer moving parts than electrical and hydraulic power systems, which eventually reduces equipment downtime. However, air supplied into the system requires special treatment as any contamination can significantly damage supply pipes by corroding them, which in turn, hampers power output.
In addition, high initial cost of procuring and installing modern rotary screw compressors is a major restrain for market growth. These compressors must be serviced and maintained regularly to function properly. Moreover, increased complexity of system design and operation necessitates deployment of skilled and experienced operators to ensure system’s smooth and trouble-free operations. Also, scheduled maintenance of compressor machine and proper supervision of complex system raises process maintenance costs, in turn, reducing profitability.
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Some Key Highlights from the Report
For the purpose of this report, Reports and Data has segmented the industrial air compressor market based on type, lubrication method, cooling method, end-use, and region:
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