Posted On: 2022-02-14
Rotary air compressor acquired the largest revenue share in the air compressor market of Saudi Arabia in recent years – 6Wresearch.
Saudi Arabia Air Compressor market witnessed a decline in 2020 due to the pandemic situation caused by Covid-19 which led to result of falling demand from the construction and manufacturing sector due to halt in the business operations owing to stringent lockdown imposed across the country.
According to 6Wresearch, Saudi Arabia Air Compressor Market size is projected to grow at a CAGR of 3.6% during 2021-2027.With growing infrastructural development across Saudi Arabia, the demand for air compressors is anticipated to witness significant growth during the forecast period. Saudi Arabia acted quickly and decisively in response to COVID-19. Despite their efforts, the pandemic has inflicted heavy economic damage on the region on account of halt in the business and construction activities, thereby leading to a decline in market demand for air compressors and fall in market revenues during the year 2020.
However, mega-infrastructural projects coupled with surging investment by government and private companies to bolster the commercial and hospitality sectors are anticipated to drive the growth of the air compressor market in Saudi Arabia during the forecast period. Furthermore, Saudi Vision 2030, would also foster the demand for air compressors in the country.
According to Ramit Behl, Research Analyst, 6Wresearch, In Saudi Arabia, rotary air compressor captured majority of the market revenue share in 2020 and is expected to dominate during the forecast period as well. Rotary air compressors are known for providing energy-efficient and cost-effective products. The increase in demand for energy efficient air compressors have led to an increase in the demand for rotary air compressors.
“Additionally, proliferation of energy efficient solutions in the market would further propel the growth of rotary air compressors over the coming years, resulting in the higher growth of rotary air compressors in the forecast period.” Ramit further added.
According to Saurav Kumar Singh, Research Associate, 6Wresearch, Saudi Arabia air compressor market in central region is likely to expand primarily on account of mega infrastructural projects such as Mall of Saudi which is valued at $3.2 billion. “
Moreover, construction of residential units, offices, entertainment areas and restaurants are further expected to increase the growth of air compressors during the forecast period.” Saurav further added.
The key players of the market include- Atlas Copco AB, Ingersoll Rand Inc, Kaeser Kompressoren FZE, FS-Elliott Saudi Arabia Ltd, Gardner Denver FZE, Elgi Gulf (FZE), BOGE Kompressoren Otto Boge GmbH & Co. KG, Hokuetsu Industries Co., Ltd., Doosan Portable Power and Sullair LLC.
Saudi Arabia Air Compressor Market (2021-2027) provides an in-depth analysis with 21 figures and 18 tables covered in 88 pages. The report estimates and forecasts the overall Saudi Arabia air compressor market by types, lubrication, technology, applications and regions. The report provides an unbiased and detailed analysis of the Saudi Arabia air compressor market on-going trends, outlook, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.