Portable Air Compressors Market - Constant Product Development Uplifting the Sales Curve; China to Generate High Revenue During 2022-2028
In recent years, the portable air compressor market to witness rapid utilization across construction sites, road works, and packaging machines through myriad industries. Expanding infrastructural activities in APAC and MEA allowing manufacturers profitable business opportunities over the forecast period. However, technological advances in compression techniques intensely influence equipment compression capabilities. Adopting robust and energy-efficient equipment is expected to fuel the demand for portable air compressors. Furthermore, technological advances have led to the development of portable air compressors used across industries. Compressors occupy traditional motors in automotive segments due to the demand for efficiency. For example, the construction industry experiences high pressure to launch innovative tools that reduce human effort. The surge in the infrastructure and the construction market is a boon to the portable air compressors market that will also enforce innovations in the future.
China is expected to be the largest revenue contributor to the APAC market. Furthermore, increased residential and commercial construction investments drive demand for portable air compressors in India. For example, India is expected to spend around $7.9 trillion on construction by the end of 2030. As a result, such factors provide opportunities for manufacturers to develop high-quality portable air compressors in such countries. Latin America and the Middle East are highly potential markets that help manufacturers to expand their product segments, thereby increasing sales. Increasing government initiatives to expand infrastructure in developing countries are boosting the usage of pneumatic tools in construction sites across city centers, thereby providing significant growth opportunities for manufacturers in the portable air compressor market.
Manufacturers seek smart IoT systems that provide the most authentic and real-time operational data for their equipment in residential, industrial, or commercial sectors. It brings the demand for a more robust IoT network that enables data sharing. Therefore, advances and development in new technologies have revolutionized the market. Hence, constant efforts to develop new features and technology for compressors are expected to open new avenues to expand the portable air compressors market in the upcoming years.
Manufacturers are emphasizing the production of energy-efficient compressors using Variable Frequency Drive (VFD) and Variable Speed Drive (VSD) technologies, which allow them to save enormous amounts of energy. For example, Atlas Copco's GA 7-110 VSD+ is an innovative oil-injected compressor that raised energy efficiency to a new level with a 50% reduction in energy consumption. As a result, manufacturers will benefit from adopting energy-efficient technologies during the forecast period.
According to the Department of Business, Energy, and Industrial Strategies report, compressed air systems are one of the largest energy consumers, accounting for around 10% of all industrial electrical consumption or 8.8-Terawatt hour (TWh) annually, resulting in CO2 emissions of 3,100 kt/year. As a result, such factors are expected to encourage the use of energy-efficient electric portable air compressors during the forecast period.
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