North America Air Compressor Market is projected to reach $5,754 million & registering a CAGR of 3.68%

North America Air Compressor Market Overview:

WILMINGTON, DELAWARE, UNITED STATES, April 4, 2024 /EINPresswire.com/ -- 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.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲: https://www.alliedmarketresearch.com/request-sample/590

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 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. 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.

Blowdown from air compressor, air contamination, and noise pollution hinder the adoption of air compressors in North America. Pollutants released can lead to a severe impact on the environment, workplace, and the product. Aerosols, condensed water, solid contamination, and others are some of the types of contamination that may cause environmental concerns, if not properly managed, which may restrain the market. However, key industry players and regulatory authorities are determined to reduce the impact of environmental hazards. For instance, in June 2017, Atlas Copco launched a range of oil-injected rotary screw air compressors. These compressors are powerful and are responsible for minimal noise pollution. Further, various industry standards such as ISO8573 Series, ISO12500 Series, ISO7183 Series, and others deal in this category. In addition, other industry standards, such as ISO 9001, ISO 14001, and OHSAS 18001, were introduced to improve quality standards by The International Organization for Standardization. Further, changing regulatory structure has affected the North America air compressor market adversely. For instance, the U.S. Department of Energy (DOE) published some new rules in 2017 related to testing of rotary screw compressors

𝐃𝐢𝐫𝐞𝐜𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 (𝐒𝐩𝐞𝐜𝐢𝐚𝐥 𝐎𝐟𝐟𝐞𝐫): https://www.alliedmarketresearch.com/checkout-final/ee0153235ff4b982acaf3ad9308631b3

Growth associated with the oil industry and natural gas production in North America is a prominent factor that may fuel the market demand during the forecast period. According to EIA's Annual Energy Outlook, the U.S. crude output is going to increase by 20% by 2030, and the demand for natural gas is estimated to attain around 15.6% of growth over the next few years. Further, expenditure by the U.S. oil and gas companies is expected to increase during the forecast period. Natural gas is gaining importance as the preferred fuel option, owing to its low emission and low-cost properties. Thus, many projects in North America are currently focusing on exploration of the same. There are more than 14,000 small and large oil & gas companies in the U.S. alone. Air compressors have wide-scale application in the oil and mining industries, which may act as a driver for the air compressor industry.

North America Air Compressor Market Key Segments:

By Type

Portable

Stationary

By Technology

Rotary

Centrifugal

Reciprocating

By Lubrication Method

Oiled

Oil Free

By Country

U.S.

Canada

Mexico

Key Players

Atlas Copco

Ingersoll Rand

Suzler Ltd.

Mitsubishi Heavy Industries

Ebara Corp.

Sullair

Kobe Steel

VMAC

Campbell Hausfeld

Porter Cable

David Correa
Allied Market Research
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