MOUNTAIN VIEW, CA -- Production of shale gas has spurred investments in oil and gas and other industries, boosting the outlook for air compressor manufacturers in North America. Air compressor manufacturers in the region will be greeted with several opportunities as wide availability of shale gas reserves has lowered energy costs and resulted in reshoring of several industries.
New analysis from Frost & Sullivan, Analysis of the North American Air Compressor Market, finds that the market earned revenues of $2.96 billion in 2014 and estimates this to reach $3.53 billion in 2021. The study covers reciprocating, rotary and centrifugal air compressors in various segments including oil and gas, chemical and petrochemical, power generation, food and beverage, life sciences, construction and mining, and general manufacturing.
"The oil-free air compressor segment, in particular, is getting a leg up from the growing North American food and beverage industry, which needs high-quality compressed air in processes such as dehydration and packing," said Frost & Sullivan Industrial Automation & Process Control Research Analyst Sakthi Sobana Pandian. "As demand for packaged and convenience food grows, new opportunities will open up for air compressor market participants."
However, the high initial cost of air compressors could dampen sales. To help reduce capital expenditure, some customers opt to service existing air compressors and make them fit for operation instead of investing in new installations. Eventually, end users will be forced to upgrade air compression systems due to need for energy efficiency and compliance with stricter environmental regulations.
"Reliable, eco-friendly air compressors must be made available to end users in the North American market," noted Pandian. "Users will seek products that have long lifecycles and incur minimal operating and maintenance costs."
Analysis of the North American Air Compressor Market is part of the Industrial Automation & Process Control Growth Partnership Service program. Frost & Sullivan's related studies include: Analysis of the North American Process Gas Compressor Market, Analysis of the North America Vacuum Pumps Market, North American Engineered Pumps Market, and Analysis of the Global Process Gas Compressor Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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