Research Nester published a report titled “United States (U.S.), Canada, and Mexico Air Compressor Market: Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the United States (U.S.), Canada, and Mexico air compressor market in terms of market segmentation by category, product type, pressure, output power, seal type, and by end-use industry.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The air compressor market in the United States, Canada, and Mexico is anticipated to attain a CAGR of 4.90%, 3.50%, and 4.10% respectively over the forecast period, i.e., 2021 – 2030. The market is segmented by output power into 50kW – 100kW, 100kW – 250kW, 250kW – 500kW, and above 500kW, out of which, the 100kW – 250kW segment is expected to garner the largest revenue of USD 3422.88 Million, USD 356.25 Million and USD 221.21 Million in the United States, Canada, and Mexico respectively by the end of 2030.
The air compressor market in the United States, Canada, and Mexico is further estimated to generate a revenue of USD 7960.18 Million, USD 828.50 Million, and USD 526.68 Million respectively by the end of 2030, up from a revenue of USD 4933.65 Million, USD 587.34 Million, and USD 352.40 Million respectively in the year 2020. Rising demand for energy, followed by the increasing demand for energy efficient air compressors, and the wide utilization of these compressors in the end-use industries, are some of the major factors anticipated to drive the market growth.
Rising Manufacturing Industry to Create Opportunities for Market Growth
In the United States, Mexico and Canada, the value (in current USD) added by the manufacturing industry, according to the statistics by the World Bank, increased from USD 1.695 Trillion, USD 135.873 Billion, and USD 138.304 Billion respectively in the year 2009 to touch USD 2.175 Trillion, USD 202.129 Billion, and USD 159.724 Billion respectively in the year 2017.
Backed by the surge in the manufacturing industry in these countries, the demand for air compressors, which is a major component in several end-use industries, is anticipated to grow significantly, and in turn, drive the market growth. Air compressors play a major role in the manufacturing industry as compressed air is used widely in several manufacturing processes. As a result, there is a rising demand for the product, which in turn, is anticipated to contribute to the market growth in the coming years.
However, the increasing concern for pollution caused by air compressors and the stringent regulatory standards for attaining SDGs are expected to operate as key restraint to the growth of United States (U.S.), Canada, and Mexico air compressor market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the United States (U.S.), Canada, and Mexico air compressor market which includes company profiling of Atlas Copco AB, Ingersoll Rand Inc., Sulzer Ltd., Elliott Group, Hitachi, Ltd., Sullair, LLC, Kirloskar Pneumatic Co. Ltd., Siemens AG, General Electric, Quincy Compressor LLC, Curtis-Toledo, Inc., Saylor-Beall Inc., KAESER KOMPRESSOREN, MAT Industries, LLC (Campbell Hausfeld), Sullivan-Palatek Inc., Chicago Pneumatic, Stanley Black & Decker, Inc., Werther International, Kobe Steel, Ltd., Bobcat Company, ELGi EQUIPMENTS LTD., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the United States (U.S.), Canada, and Mexico air compressor market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.