Industry Background:
The compressed air control system is a device that converts power by means of an electric motor, gasoline, or diesel engine into energy stored in compressed air. Compressed air control system market has high growth prospects owing to increasing demand from the end-use industries such as oil & gas, petrochemical, power generation, metals & mining, fertilizers, water & wastewater, and others. Moreover, the growing focus on the development of compact and energy-efficient compressors further propelling market growth. For instance, Atlas Copco launched several new products for compressed gases and air for the medium, low, and high-pressure applications.This growth is primarily driven by Increasing Demand from the Large-Scale Industries Such As Petrochemical, Oil & Gas, and Refining and Increasing Investment in the Water and Power Segment.
Globally, a noticeable market trend is evident Emphasizing On Development of Compact and Energy-Efficient Compressors. Major Manufacturers, such as General Electric Co. (United States), Schneider Electric (France), Siemens AG (Germany), Wood Group Plc (United Kingdom), Atlas Copco (Sweden), Ingersoll Rand (Ireland), ABB Ltd. (Switzerland), Dresser-Rand (United States), Rockwell Automation, Inc. (United States), Emerson Electric Co. (United States) and Compressor Controls Corporation (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
11th July 2019, Atlas Copco launched five new air compressors in the Indian market for Food and beverages, cement, textile, foundry & forging, general engineering, metal, auto & ancillaries, paper and other industries. The new range of compressors includes on-site nitrogen-generator series, screw air compressors, and piston air compressors.
Market Drivers
- Increasing Demand from the Large-Scale Industries Such As Petrochemical, Oil & Gas, and Refining
- Increasing Investment in the Water and Power Segment
Market Trend
- Emphasizing On Development of Compact and Energy-Efficient Compressors
Restraints
- Stringent Government Regulations by Environmental Protection Agency (EPA)
- Fluctuation in the Raw Material Prices
Opportunities
Growing Industrialization in the Developing Economies and Increasing Applications in the New Industries
Challenges
Less Spending On R&D by the Existing Players
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