Growth in the air compressor industry has been forecast to remain above 4% for the five-year period ending 2022, according to Technavio.
In the analyst’s latest report on the global air compressors market, which sets 2017 as the benchmark for a five-year forecast period, Technavio predicts a compound annual growth rate of 4.02% over the course of the half-decade span.
This is based on the performance of air compressor suppliers around the world, from the EMEA region to APAC and the Americas, and includes major vendors like Atlas Copco, Ingersoll Rand and others.
While it notes that there is a potential for disruption due to uncertainty about the cost of raw materials over the course of the five-year period, there are also drivers for growth in certain segments and geographical locations.
For example in the HVAC segment, a surge in replacing old systems has led to increased demand for the air compressors that power them – and this represents a major driver behind the growth in air compressor sales overall.