20-Jun-2024
The rapid growth of pharmaceutical industry across the country is driving the UK air compressor market demand during the forecast period.
The UK Air Compressor Market was valued at USD 631.0 million in 2023, and is expected to reach USD 787.7 million by 2030, with a CAGR of 2.7% from 2024 to 2030, according to the new research by Next Move Strategy Consulting. In terms of volume, the market size was 23 thousand units in 2023, and is projected to reach 36 thousand units by 2030, with a CAGR of 5.8% from 2024 to 2030.
The expanding pharmaceutical industry in the UK is driving the necessity for air compressors, essential for maintaining aseptic conditions, cleaning, and sterilizing pharmaceutical facilities to adhere to stringent quality and safety standards.
According to the Association of British Pharmaceutical Industry's 2024 report, the UK's pharmaceutical industry's total turnover amounts to approximately USD 42.61 billion, with exports valued at around USD 27.7 billion.
As the pharmaceutical sector continues to grow and export value increases, there is a corresponding surge in demand for reliable and high-quality air compressor systems. These systems play a vital role in various manufacturing processes within the pharmaceutical sector, ensuring operational efficiency and compliance with strict industry standards.
However, the initial cost of air compressors, coupled with the need for regular maintenance such as filter changes, lubrication, and inspections, significantly contributes to the overall cost of ownership. These financial constraints act as a barrier to the growth of the air compressor market. Consequently, small and medium-sized businesses often hesitate to invest in new air compressor systems or upgrade existing ones, potentially impeding market expansion.
On the contrary, the integration of IoT sensors and cloud platforms into air compressors is poised to drive future market growth. This technological advancement enables remote monitoring, predictive maintenance, and performance optimization of compressors. IoT sensors embedded in air compressors continuously gather real-time data on critical parameters such as temperature, pressure, and energy consumption.
This data is then transmitted to cloud platforms, where advanced analytics algorithms analyze it to detect potential issues, forecast maintenance needs, and enhance compressor operations. By leveraging IoT and cloud technologies, organizations can reduce downtime, improve equipment reliability, and optimize energy usage. This will stimulate demand for intelligent air compressor solutions and drive market expansion in the UK.
Several market players operating in The UK air compressor industry includes Atlas Copco Group, Ingersoll-Rand PLC, Hitachi Ltd., Siemens Energy AG, Kaeser Kompressoren, MAT Holding, Inc., Elgi Equipment Limited, Sulzer Ltd., Mitsubishi Heavy Industries, Ltd., Anest Iwata, and others.
The information related to key drivers, restraints, and opportunities and their impact on The UK air compressor market is provided in the report.
The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.
The report provides an analysis of the U.K air compressor market share and competitive landscape of key players in the industry.
The rising construction sector within the region is driving...
The rapid growth of maritime industry is driving the Norway...
The presence of key players in the country is driving the Sw...
This website uses cookies to ensure you get the best experience on our website. Learn more
✖