India industrial air compressor market is estimated to grow modestly at a CAGR of around 6.2% during the forecast period. This growth can be attributed to the cohesive government policies in the country to promote the manufacturing industry of India. India is continuously working towards positioning itself as a major country in technological development and industrialization. The industrial manufacturing of electrical and metal products, cement, building and construction material, machinery and equipment, rubber, and plastic products, and so on offers a major contribution towards the Indian economy.
According to the India Brand Equity Foundation (IBEF), the cumulative Foreign Direct Investment (FDI) in India’s manufacturing sector reached nearly $91.2 billion during April 2000-June 2019. Cohesive government initiatives such as “Make in India”, huge FDI inflow, and significant efforts of major manufacturing companies such as GE Healthcare, Siemens AG, HTC, Toshiba Corp., and Boeing AG to set up their manufacturing plants in India, is further anticipated to contribute towards the growth of the industrial air compressor market in the country.
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The oil & gas industry is witnessing a significant capital spending, driven by the need to build capacity to meet growing energy demand from emerging markets and to replace depleting supply sources. According to the BP PLC, the natural gas production in India stood at 24.2 Mtoe in 2015 which decreased slightly to 23.6 Mtoe in 2018, decreasing around 2.4% during 2015-2018. In December 2019, as per the oil minister of the country, India’s oil consumption will rise by 3 times in the next 10 years, which will significantly augment the demand of industrial air compressors in the country for maintaining the proper flow of oil & gas in the country.
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India Industrial Air Compressor Market Segmentation
By Type
· Portable
· Stationary
By Technology
· Dynamic Displacement Compressors
· Axial Flow Air Compressors
· Centrifugal Compressors
· Positive Displacement Compressors
· Rotary Air Compressors
· Reciprocating Compressors
By End-Users
· Food & Beverages
· Oil & Gas
· Energy and Power
· Manufacturing
· Automotive
· Others (Construction and Mining)
Company Profiles
· Atlas Copco AB
· BAC Compressors
· BAUER COMPRESSORS INC.
· Curtis-Toledo, Inc
· ELGi Equipments Ltd.
· General Electric Co.
· Hitachi Ltd.
· Indo-Air Compressors Pvt. Ltd.
· Kirloskar Pneumatic Co. Ltd.
· Siemens AG
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