The report provides an overview of the trends, structure, drivers, challenges, and opportunities in the North America air compressor market.
The North America Air Compressor Market generated $4,475 million in 2016, and is projected to reach $5,754 million by 2023, registering a CAGR of 3.68% during the forecast period (2017-2023). The major factors that drive the market are high energy efficiency, low maintenance cost, environmental friendliness, portability, and ability to deliver variation in supplied pressure support the market growth.
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In addition, growth associated with end-use industries, surge in requirement for technologically advanced products, and rise in application areas also boost the growth of the North America air compressor market. On the other hand, some of the restraints associated with this market are increase in cost of raw material, noise pollution, emission of contaminated compressed air, bulky size, and others.
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The increase in the number of industrial infrastructure projects, and the ever-increasing investment across all the process industries, especially oil & gas industry supplements the market growth across various industry domains. Further, penetration of IoT, initiatives such as Industry 4.0, and technological advancements related to new product development are expected to fuel the market demand during the forecast period.
Wide-scale adoption of air compressors in industrial and personal applications is expected to drive the North American air compressor market growth.
The North America air compressor market is segmented based on type, technology, lubrication method, and country. The type segment is bifurcated into portable and stationary air compressors.
In accordance to the technology, air compressors are classified as rotary, centrifugal, and reciprocating. Based on the lubrication method, the market is classified into oiled and oil-free air compressors.
To gain a diverse insight, the market is analyzed across major countries in North America. Based on countries, the North America air compressor market is analyzed across the U.S., Mexico, and Canada.