The global rotary scroll air compressor market is poised to attain valuation of USD 14,500 million by 2026, at a CAGR of 5.1% during the forecast period 2019-2026.
Rotary scroll air compressor provides various benefits for industries offering services for varied end-users by providing improved operational efficiency, enhanced productivity, and enhanced safety through integration of cost-effective and energy-efficient products. Rotary scroll air compressor manufacturers have launched innovative solutions and products for ensuring high output ability for high productivity. Additionally, rotary scroll air compressors are installed and used by varied industry sectors including waste management, oil & gas, power generation, chemicals, pharmaceuticals, mining, food & beverages, automotive, and others.
Constant rise in the need for energy efficient products across the globe, penetration of IoT & Industry 4.0, growing vast array of applications for rotary scroll air compressors, and enlarging market for the compressed air are some of the factors which are driving the market. Globally, increasing demand for civil engineering and construction is expected to escalate the market growth in the coming years. According to the International Organization of Motor Vehicle Manufacturers, 72 million passengers and commercial vehicles were produced in 2016, over 4.5% more than in 2015. Cars hold around 74% of the total motor vehicle annual production in the world. Growing demand for vehicles across the globe is anticipated to influence the market growth positively.
China is the world’s leading manufacturer of cars. In 2015, it produced 24.5 million motor vehicles. With only 4.1 million cars produced in 2015, the U.S. is the second leader in the car manufacturing after China. Japan produced 9.6 million vehicles in 2017 with Toyota holding most of the market share. Rise in the production capacity of car and other vehicle manufacturers have significantly boosted the market in the last few years.
Other than conventional passenger cars, recently, the demand for electric cars has experienced tremendous growth and is expected to grow exponentially in the near future which is one of the most important factor for the global rotary scroll air compressor market growth. Thus, growth in the passenger vehicle market is about to accelerate the utility of refrigeration in cars and recreational vehicles (RVs).
The market research study on “Rotary Scroll Air Compressor Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers a detailed outlook, strategic recommendations, and insightful viewpoints on the global Rotary scroll air compressor market. The report also analyzes the key players operating in Rotary scroll air compressor market and identifies the key strategies deployed by them along with the market share of leading players.
The global Rotary scroll air compressor market is segmented as below:
Rotary Scroll Air Compressor Market By Type
Rotary Scroll Air Compressor Market By Lubrication Method
Rotary Scroll Air Compressor Market By End-User Industry
Rotary Scroll Air Compressor Market By Geography
The global air compressor market is segmented based on type, lubrication method, end-user industry, and region.
The type segment includes portable and stationary air compressors. The stationary segment is anticipated to witness the highest growth rate during the forecast period 2019-2026. The factors driving the stationary air compressors segment growth are rising industries demanding for the stationary air compressors and technological advancements.
Based on lubrication method, rotary scroll air compressor market is bifurcated into oiled and oil-free air compressors. Oil-free air compressor segment is expected to gross highest market share among the lubrication method owing to the leaning trend towards low maintenance rotary scroll air compressors. Oiled rotary scroll air compressor segment is expected to account for least share for least share of the market owing to the advancement in the technology.
Based on end-user industry, the market is segmented into food & beverage, oil & gas, manufacturing, power generation, medical, and others. Rotary scroll air compressor gains traction among the end users due to high rate of adoption from end-user industries, rise in number of industrial infrastructure projects, and increase in investment across all the process industries.
In terms of region, the market is segmented into North America, Europe, Asia Pacific (APAC), and Latin America and the Middle East & Africa (LAMEA).
North America is one of the biggest market for rotary scroll air compressor. With established automobile and other industries there is still a large untapped market for rotary scroll air compressor in North America. Along with large number of passenger cars and commercial vehicles, North America region also leads in heavy duty trucks and vehicles. For instance, according to Oak Ridge National Laboratory (ORNL) transportation analysis in 2016, about 322,000 medium/heavy trucks were produced in the United States, which is 63% of North America’s total production. Additionally, Mexico accounted for 35% of total North America production. North America market for rotary scroll air compressor is expected to grow significantly over the forecast period 2019-2026.
Europe is one of the prominent markets for the rotary scroll air compressor with optimum growth and healthy CAGR. Adoption rate of rotary scroll air compressor is Europe is also high. Germany’s industry is well-established due to strong presence of leading manufacturers in almost every field and it is offering growth opportunity for the rotary scroll air compressor market in Europe. Automotive manufacturers such as Audi, BMW, Daimler, Porsche, and Volkswagen, as well as the world’s largest automotive suppliers such as Bosch, Continental, and ZF are headquartered in Germany among the leading automotive companies worldwide.
Asia Pacific is expected to be the major market for the rotary scroll air compressor. Industrial sector in Asia Pacific is growing at rapid pace owing to the favorable government policies. Additionally, most of the multinational suppliers in the Asia Pacific have invested heavily in R&D. For instance, Bosch has opened the first smart factory by investing 80 million Euro in Thailand to respond to growing demand in the country. In addition, increasing vehicle production in developing countries such as China and India, and increasing luxurious vehicle consumption in China and Japan are further driving the growth of the market.
Demand for rotary scroll air compressor in South America is expected grow at rapid pace over the next few years owing to the growth of automotive industry in the region. Brazil is one of the biggest markets for rotary scroll air compressor in this region and is also expected to grow at significant rate over the forecast period 2019-2026.
Middle East and Africa (MEA) is comparatively smaller and adoption rate of rotary scroll air compressor in this region is also not that high. Among all markets in Middle East and Africa, UAE is one of the most robust markets due to low fuel costs, low import tariffs, high per capita disposable income, and a favorable tax regime, which are positive factors for the rotary scroll air compressor market. Additionally, the demand for luxury cars in the Middle East is strong and this trend is expected to continue till 2020. According to BMW statistics, a total 52,977 units were sold, contributing to 18% of all BMWs sold in the region in 2017. Therefore, increasing sale of luxurious cars is expected to drive the rotary scroll air compressor market in MEA region during the forecast period 2019-2026.
Some of the key players in the market are Atlas Copco AB, Kobe Steel Ltd., Elgi Equipments Limited, Ingersoll-Rand PLC, Kirloskar Pneumatic Company Limited, Mitsubishi Heavy Industries Ltd., Suzler Ltd., Ebara Corporations, Porter Cable, VMAC Global Technology Inc., Campbell Hausfled, and Doosan Infracore Portable Power.