![]() According to the United Nations (UN), the population residing in urban areas is further estimated to reach 68% by 2050. It is estimated that the urban population is growing significantly across the globe. Growing urbanization and increasing automation in emerging economies are expected to drive market growth during the forecast period. However, the government's tightening limitations on greenhouse gas emissions and noise pollution are some of the issues limiting the industrial air compressor market's growth. As a result, the life cycle of pneumatic instruments is extended, and compressed air systems are more reliable. Compressed air systems necessitate proper upkeep and high-level monitoring to conserve energy. Department of Energy, 50% of industrial plant systems have considerable energy savings potential with relatively cheap project costs. Meanwhile, compressors in numerous industrial applications are growing due to the easy and safe generation of compressed industrial air.Īs per the U.S. European Union has proposed the "2030 Climate Target Plan" to reduce GHG emissions by around 55% compared to 2020. Moreover, energy-efficient compressed air solutions are becoming more popular with an increasing focus on energy costs and increased greenhouse gas (GHG) emissions. In today's oil & gas business, large and small enterprises rely heavily on industrial compressors. As a result, industrial air and gas compressors have become indispensable for maintaining the proper pressure levels for these operations, with innovations focusing on lower energy requirements, increased speed, and greater ability to withstand harsh drilling environments to maintain a competitive edge. Despite significant advancements in alternate energy sources, the market demand for oil and oil-based products grows in tandem with the world population. The rise in market demand for industrial air compressors from the oil & gas industry and the rising demand for energy-efficient industrial air compressors is anticipated to drive the market growth during the forecast period. Know more about this report : Request for sample pages Rising GDP, improved population living standards, and an increase in the number of people living in middle and high-income groups worldwide contribute to increased demand for domestic cooling appliances. The global industrial air compressor market was valued at USD 32.69 billion in 2021 and is expected to grow at a CAGR of 5.7% during the forecast period. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |