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Pharmacy benefit management market
AIR STARTERS MARKET REPORT OVERVIEW
The global air starters market size was USD 146.7 million in 2019 and market is projected to touch USD 210.55 million by 2032 at CAGR 2.8% during the forecast period.
An air starter is a device used to start large diesel engines, gas turbines, and other types of internal combustion engines. Instead of relying on an electric starter motor, air starter uses compressed air to turn the engine's crankshaft and initiate the combustion process. These systems are commonly employed in applications where electrical systems may be impractical or unsafe, such as in marine environments, oil and gas industry, and heavy machinery. The basic components of an air starter system include an air motor, a pneumatic valve or control system, and a source of compressed air. When the air starter is activated, compressed air is directed to the air motor, which then turns the engine's crankshaft to start the combustion cycle.
Air starter is known for their reliability and durability, making them suitable for harsh operating conditions. They are often used in situations where electrical systems may be vulnerable to explosions or in areas with a high risk of flammable gases. Additionally, air starter can provide high torque at low speeds, making them well-suited for starting large engines with high compression ratios.
COVID-19 Impact: Decreased Demand in Certain Industries to Hinder Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
The pandemic has disrupted global supply chains, leading to delays in manufacturing and distribution. This can impact the availability of components and finished products, potentially affecting the air starters market growth. The demand for industrial equipment, including air starters, may have declined in sectors that were significantly affected by lockdowns and economic slowdowns. For example, industries such as aviation, oil and gas, and manufacturing experienced varying degrees of impact. Infrastructure projects and industrial expansions were often delayed or put on hold during the pandemic. These delays could have had a cascading effect on the demand for equipment like air starter.
LATEST TRENDS
"Focus on Environmental Sustainability to Drive Market Growth"
Like many industrial sectors, the air starter market may see ongoing technological advancements. This could include improvements in the efficiency, reliability, and performance of air starter systems. There has been a broader industry trend towards environmental sustainability. Manufacturers may be exploring ways to make air starter more energy-efficient or environmentally friendly. The integration of smart technologies, such as sensors and connectivity, is a common trend in industrial equipment. This allows for better monitoring, predictive maintenance, and remote management of air starter systems. Companies in the air starter market may be exploring opportunities for global expansion, reaching new markets, and establishing partnerships with international distributors.
AIR STARTERS MARKET SEGMENTATION
- By Type
Based on type the global market can be categorized into vane air starter and turbine air starter.
Vane air starter use a rotary vane mechanism to convert compressed air energy into mechanical energy for engine starting. Turbine air starter use a turbine mechanism to harness the energy of compressed air and convert it into rotational motion. Both vane and turbine air starter have their own advantages and are selected based on the specific requirements of the application.
- By Application
Based on application the global market can be categorized into oil & gas, mining, marine and others.
The oil and gas industry involves the exploration, extraction, refining, and distribution of petroleum products. It encompasses upstream (exploration and production), midstream (transportation and storage), and downstream (refining and distribution) activities. The mining industry involves the extraction of valuable minerals or other geological materials from the earth. This sector includes various types of mining, such as coal mining, metal ore mining, and non-metallic mineral mining. The marine industry encompasses activities related to waterborne transportation, shipping, and maritime services. It includes the construction and operation of ships, as well as activities associated with ports and coastal infrastructure.
DRIVING FACTORS
"High Torque at Low Speeds to Augment the Market"
Air starters are known for their reliability, especially in harsh or challenging environments. Their mechanical simplicity and robust design contribute to their dependable performance, making them suitable for applications where consistent and reliable engine starting is crucial. Air starter are designed to withstand tough conditions, such as those found in the oil and gas industry, marine environments, and heavy machinery. Their durable construction ensures a longer lifespan, reducing the frequency of maintenance and replacement. In environments where the presence of flammable gases or the risk of explosions is a concern, air starter offers a safer alternative to electric starters. They eliminate the potential for sparks, making them suitable for use in hazardous areas. Air starter provide high torque at low speeds, which is particularly beneficial for starting large engines with high compression ratios. This capability makes them well-suited for applications where a significant amount of torque is required during the starting phase.
"Suitability for Remote or Offshore Applications to Expand the Market"
Air starters often result in less wear and tear on the engine compared to traditional electric starters. The gradual buildup of torque in air starter can be gentler on the engine components, contributing to longer engine life. In remote or offshore locations where, electrical systems may be impractical or challenging to implement, air starter provide a reliable and effective means of engine starting. This is particularly relevant in sectors like offshore drilling and marine operations. Air starter operate independently of electrical systems, reducing the dependency on electrical infrastructure. This can be advantageous in situations where electrical power sources are unreliable or unavailable. Air starter are often easier to maintain compared to complex electric starter systems. This can result in reduced downtime and maintenance costs, especially in industries where continuous operation is critical.
RESTRAINING FACTOR
"Complexity of Compressed Air Systems to Potentially Impede Market Growth"
The upfront cost of installing an air starter system can be higher compared to electric starters. The initial investment in the required equipment and infrastructure, such as compressed air systems, may pose a barrier to adoption, particularly for smaller businesses or applications with budget constraints. Air starters rely on a compressed air source, and establishing and maintaining a reliable compressed air system can be complex. The infrastructure needed for compressed air, including compressors, piping, and storage, requires careful design and maintenance. While air starter are generally reliable, the efficiency of compressed air systems can be a concern. Generating and storing compressed air can result in energy losses, and optimizing energy efficiency in these systems may require additional measures.
AIR STARTERS MARKET REGIONAL INSIGHTS
"North America to Dominate the Market due to Demand Heavy Machinery"
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East &Africa
North America has the largest air starters market share, United States and Canada have been key contributors to the air starter market, driven by the presence of diverse industries, including oil and gas, manufacturing, and aviation. The demand for air starter in applications such as heavy machinery and marine equipment has been notable in this region. The region has seen a demand for air starter due to their industrial activities, including manufacturing and maritime operations. Europe also places a strong emphasis on safety, and air starter, known for their reliability in hazardous environments, find applications in such settings.
KEY INDUSTRY PLAYERS
"Key Industry Players Shaping the Market through Innovation and Market Expansion"
The market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.
List of Market Players Profiled
- Ingersoll Rand (U.S.)
- TDI (U.S.)
- Hilliard (U.S.)
- IPU (U.K.)
- Düsterloh (Germany)
INDUSTRIAL DEVELOPMENT
January, 2021: Ongoing technological advancements in air starter systems have enhanced their efficiency, reliability, and performance. Integration of smart technologies, such as sensors and monitoring systems, has provided improved diagnostics and predictive maintenance capabilities.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 146.7 Million in 2019 |
Market Size Value By |
US$ 210.55 Million by 2032 |
Growth Rate |
CAGR of 2.8% from 2019 to 2032 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered | |
By Type
|
|
By Application
|
Frequently Asked Questions
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What value is the air starters market expected to touch by 2032?
The global market is expected to reach USD 210.55 million by 2032.
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What CAGR is the air starters market expected to exhibit by 2032?
The market is expected to exhibit a CAGR of 2.8% by 2032.
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Which are the driving factors of the market?
High torque at low speeds and suitability for remote or offshore applications are the driving factors of the market.
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What are the key segments of the market?
Vane air starter use a rotary vane mechanism to convert compressed air energy into mechanical energy for engine starting. Turbine air starter use a turbine mechanism to harness the energy of compressed air and convert it into rotational motion. Both vane and turbine air starter have their own advantages and are selected based on the specific requirements of the application. These are the key segments.