Industry Convergence Impacting the Global Compressor Market, 2020

Industry Convergence Impacting the Global Compressor Market, 2020

  • September 2020 •
  • 28 pages •
  • Report ID: 5977018 •
  • Format: PDF
This study identifies, analyzes, and evaluates the existing and upcoming trends impacting the global compressors market.Amid uncertain economic conditions exuberated by the COVID-19 pandemic and small pockets of opportunities in some end-user industries, such as food and beverages, water and wastewater, and life sciences.

It seeks to provide insights into the growth prospects for compressor manufacturers for the year 2020.It discusses the product, market, and technology-based growth opportunities impacting the industry’s future.

The regions covered include North America, Latin America, Europe, the Middle East, Africa, and Asia-Pacific. The study sheds light on the industry convergence of three major trends: sustainability; technology such as industry 4.0; and the shift from capital expenditure to operating expenditure (CAPEX to OPEX).
•Technology Trends: Industry 4.0 technologies such as IIoT and digitalization are accelerating, and companies can leverage this competitive advantage.
•Sustainability Trends: Companies are focusing on reducing environmental impact toward being carbon neutral and net-zero emissions.
•CAPEX to OPEX––Service-Based Trends: Companies are shifting from Capital Expenditure (CAPEX) to Operational Expenditure (OPEX) as it allows them to free valuable resources, reduce capital cost, and become more agile.Furthermore, it analyzes six major growth opportunities that are likely to influence compressor manufacturers’ market position in the future. The following key growth opportunities are analyzed in the study.
•Compressor energy usage benchmarking for compressed air systems
•Carbon capture and storage for process gas compressors
•Clean air requirements driven by the COVID-19 pandemic drive demand for oil-free compressors
•Industrial internet of things (IIoT) for industrial and process compressors
•Compressed air-as-a-service for process and discrete industries
•Parts-certainty-as-a-service for the process industryIIoT is a major trend affecting compressor manufacturers, as end-users continue to focus on improving plant maintenance and curb operational expenditure (OPEX). The current dynamic environment has uncertain economic conditions, trade wars, price volatility, production slowdowns, and intense market competition. Manufacturers are striving to improve operational efficiency in their existing plants and are keen to decrease maintenance and operational costs occurring due to unexpected failure and asset downtime. Realizing that the future of manufacturing is likely to be driven by IIoT, companies have concerns about data ownership, security, integration with existing infrastructure, and return on investment (ROI) achieved from these solutions.For the study, a specific methodology comprised of discussions with the senior management of compressor manufacturers, supported by secondary research, has been followed.
Author: Anand Mugundhu Gnanamoorthy