Centrifugal Air Compressor Market Analysis

Centrifugal Air Compressor Market Analysis

The stationary centrifugal air compressor market will generate more than USD 8.5 Billion revenue in 2019. This type of compressor is capable of supplying air at higher pressure as compared to other compressors. The manufacturing sector including automotive, aerospace, chemical processing, etc., will be the key consumers of stationary products owing to their incessant requirement for supply of high pressurized compressed air for a long period.

The horizontal split centrifugal air compressor segment is poised to witness around 2% growth rate through 2026 propelled by growing demand from food & beverage and manufacturing sector that require lower discharge pressure. Some of the key features of this casing are easy maintenance, accessibility to moving parts, and low acquisition cost.

The food & beverages sector is expected to expand at 2.5% CAGR during the forecast period. The product is mainly used to control valves and actuators in automated lines for filling, packaging & bottling, for transportation of substances through pipes, closing & checking devices, beverage & food filling equipment, for cooling & freezing products, nitrogen generation, cleaning medium when cutting or peeling foods, and for mixing & movement. Rising need for non-contaminated food & beverage products will enhance the usage of oil-free centrifugal air compressor.
 

Asia Pacific centrifugal air compressor market size is predicted to reach USD 6 billion by 2026. Major countries including China, South Korea, and Japan hold a strong foothold in semiconductor & electronics manufacturing. China has maintained its leading position in the semiconductor production with a 50% share in the global production value for the last five years. Similarly, Taiwan reported a 21.8% share in the global IC wafer fab production capacity in 2018. Such trends showcase that the region has already established its dominance in the semiconductor & electronics manufacturing worldwide, that further strengthens its position in the global centrifugal air compressor industry.
 

The region has a positive outlook for the manufacturing sector due to growth in industrial output in countries including Bangladesh, Cambodia, Myanmar, etc. Centrifugal air compressor is being employed for numerous applications including automotive, shipbuilding, aircraft, mechanical components, etc., that will spur the regional market growth.