Among the various key regional segments of the global portable air compressor market, the region of Asia Pacific is expected to exhibit a highly promising growth rate in the near future. The region is full of lucrative growth opportunities and thus, leading companies in the market are trying to tap into the same. The growth curve is accentuated by the booming construction and industrial activities across emerging economies such as India and China. The recent emergence of large number of screw compressor manufacturing companies in these emerging economies coupled with the presence of a robust semiconductors and electronics manufacturing facilities in Taiwan are further expected to boost the growth of the Asia Pacific market.
There are several notable end-use application segments of the global portable air compressor market. Of these, segment of building and construction has traditionally been the strongest contributor. The segment accounted for almost the one fifth of the overall market share and is expected to continue to dominate the global market revenue shares in the foreseeable future. The segment is pouring a considerable amount of investment in the development of new age portable air compressors and thus helping in its overall growth. Apart from this, the segment of oil and gas is expected to emerge as the second most prominent end user application industry.
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Technological Developments to Provide Impetus to Market Growth
In recent years, there has been a substantial growth in terms of sales of portable air compressors across the globe. As a result, the global market for portable air compressor is expected to be on course to achieve a solid development curve in the near future. Primarily, the growth of the market is mainly attributed to the growing use of these compressors at construction sites, road works, and in packaging machines through a wide range of industries. In addition to this, the growth of the market is being complemented by the burgeoning infrastructural developments in the key economically developing areas such as Asia Pacific and the Middle East and Africa. These regions are offering a host of lucrative business opportunities to the leading manufacturers and thus are gaining maximum attention.
The growth of the market is also being helped with the constant technological advancements in the field of air compression techniques. These advancements are thus paving way for superior and more innovative products that will further complement the growth of the global portable air compressor market. In addition to this, a considerable growth in terms of adoption of more energy efficient and robust equipment is also supplementing market growth.
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Competition in Market to Remain Capital Intensive
In terms of competition in the global portable air compressor market, the vendor landscape is moderately fragmented. The market is highly capital intensive making it a bit difficult for newcomers to establish a strong foothold. The companies in the global market are now shifting their focus on developing innovative and superior quality products in order to cater to the evolving demands from their prominent end users. Moreover, the established companies in the global market are expected to adopt strategies such as mergers, acquisitions, and joint ventures in order to stay ahead of the competitive curve.
Some of the key brands operating in the global portable air compressor market are ELGI, Ingersoll-Rand Plc., and Atlas Copco among others.
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