Dublin, March 18, 2021 (GLOBE NEWSWIRE) -- The "Compressors and Vacuum Pumps - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Virus Induced Economic & Manufacturing Slump to Cost the Compressors & Vacuum Pumps Market US$ 2.1 Billion in Losses
The global market for Compressors & Vacuum Pumps is expected to plummet by -6% in the year 2020 and thereafter recover and grow to reach US$ 2.1 billion by the year 2027, trailing a post COVID-19 CAGR of 4.6% over the analysis period 2020 through 2027.
Compressed air is a vital utility in manufacturing, process, assembly, mining industries as important as electricity, gas, chilled water, air handling, heating and cooling. It is generated onsite in close proximity to the location of consumption through electrically powered compressors and related equipment.
Compressed air powers a staggering array of industrial tasks given its safety over either electricity or gas. The importance of compressed air can be put into perspective by the fact that it has direct impact on process throughput, manufacturing productivity, efficiency, product quality, and process waste control. Compressors are therefore the most ubiquitous electromechanical workhorse equipment used widely in homes, commercial establishments, and industries such as heavy machinery, general manufacturing, engineering, water pumping, process industries, mining energy generation, oil and gas exploration and distribution, power plants, petrochemicals, automobile service centers, textiles and chemical industry, among others.
In the current era of machine-based manufacturing and industrialization, compressors represent ubiquitous and indispensable equipment. HVAC/air conditioning plants in hospitals, industries, commercial and residential buildings utilize compressors as the primary equipment to extract air from the atmosphere and compress it.
Hydraulic industrial machines both stationary and mobile utilize compressors to deliver high quality power for machine operation. Similarly, industrial refrigeration plants including cold storage, process cooling and freezing are major end-users of compressors. The compressed air contains kinetic energy which can be used for a variety of purposes such as operating pneumatic equipment like gantry cranes etc., cooling atmospheric air, for controlling robotic machines in assembly line plants, to vaporize paints, for blasting and cleaning operations, among others.
Rapid economic development, industrialization, expansion in manufacturing bases, automation of industrial processes and massive investments in machinery, were largely responsible for the market's strong evolution over the years. Almost all industrial and manufacturing facilities and service industries require vacuum and compressor products. Vacuum pumps on the other hand, are used in heating and air-conditioning systems for maintaining sufficient air-pressure, for removing air from packaging, and liquid retrieval in industrial plants, and for removing air from molds during plastic injection molding processes.
Many industries require vacuum pump systems and lines to run machinery and equipment. Technology advancements over the years have helped compressors and vacuum pumps to handle caustic and explosive materials, exhibit high abrasion resistance, and feature improved suction ability. Advanced compressor technologies have helped expand applications into myriad industries such as medicine and dairy farming.
The market is characterized by cyclical demand patterns, technological innovations aimed at performance enhancements, and pricing pressures. Cyclicality of the market is largely influenced by plant expansion plans, plant utilization rates, and investments in new plants guided by macro-economic factors such as GDP growth.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Impact of Covid-19 and a Looming Global Recession
Weak Global Economic Environment & Negative Tide in GDP Forecasts Discourage the Market
Industrial Activity to Remain Subdued in the Immediate Term, Inducing Weakness into the Market
Compressors and Vacuum Pumps: An Introduction
Types of Compressors and Vacuum Pumps
2. FOCUS ON SELECT PLAYERS (Total 396 Featured):
Aerzener Maschinenfabrik GmbH
Atlas Copco AB
Baker Hughes Company
Bauer Compressors Inc.
Becker Pumps Corporation
Burckhardt Compression AG
Dekker Vacuum Technologies, Inc.
Ingersoll Rand, Inc.
Pfeiffer Vacuum GmbH
Tsurumi Manufacturing Co., Ltd.
ULVAC Technologies, Inc.
3. MARKET TRENDS & DRIVERS
Strong Pressure to Cut Carbon Footprint Drives Demand for New Generation of Energy Efficient Compressors & Vacuum Pumps
Business Focus on New Technologies & Skills
Industrial/Commercial Refrigeration & Food Processing Industry Drives Demand
Development of Piped Energy Networks Fuels Demand for Compressor Stations
Amidst the COVID-19 Outbreak, Oil & Gas Sector Confronts Challenging Times
Impact on Compressors Market
Demand for Energy Drives Opportunities for Compression Solutions in Power Generation Plants
Commercial Rise of Compressed Air Energy Storage Technology & Plants to Fuel Demand for Compressors
Semiconductor & Electronics Industry Drives Demand for Instrument Air Compressor
Slowdown in Semiconductor Sector Impacts Growth
Recovery in Automobile Production Trends to Drive Demand for Compressed Power Air in Auto Manufacturing Plants
COVID-19 Impact on Automobile Industry
Commercial Aircraft Production and Prospects for Compressors in the Aerospace Sector
COVID-19 Pandemic Dents Airline Revenues
COVID-19 Leaves Engine MRO Market in Turmoil
Focus on Quality of Care Drives Demand for Innovative Medical Air Compressors and Vacuum Systems
Sought After Features For Medical Compressors
COVID-19 Underscores Critical Significance of Air Compressors
Focus on Quality of Compressed Air Drives the Popularity of Oil-Free Compressors & Vacuum Pumps
The Rising Wave of IIoT & the Ensuing Focus on Automation & Remote Monitoring Throws the Spotlight on Smart Compressors
Smart Pumps Aid in Modernizing Press Functions
Automation to Play a Critical Role Post COVID-19
Technology Advancements & Innovations
Advances in Compressor Technology
Variable Speed Drive Technology to Improve Compressor Speed
Smart Portable Compressors
Use of Dual motors
Manufacturers Offer Smart Solutions for Vacuum Pumps
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
Total Companies Profiled: 729
For more information about this report visit https://www.researchandmarkets.com/r/ioy9sg
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