PET Compressors Market Size, Share, Growth, And Industry Analysis, By Type (Reciprocating Type, Screw Type and Centrifugal Type), By Application (Food and Beverage, Pharmaceutical, Personal Care and Others), Regional Forecast To 2031

Updated On: 08 April 2024

PET Compressors Market Report Overview

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The global PET compressors market is expected to grow from USD 669 million in 2022 to USD 1101.7 million in 2031, at a CAGR of 5.7% from 2022 to 2031.

In order to make PET (polyethylene terephthalate) plastic materials, specialized air compressors known as PET compressors are utilized. To package drinks, foodstuff, and items for personal use, PET bottles are frequently used. The compressed and filtered air required to force the PET bottles into form is compressed and cleaned by the compressors. Starting with a preform that resembles a tiny PET plastic tube, the method for producing a PET bottle can begin. Heat is applied to the preform before it is blown with compressed air into the configuration of a bottle. To guarantee that the last bottle is of the highest caliber, the compressed air has to be of the highest caliber, free of impurities, humidity, and grease.

Since a growing number of businesses, including those in the food and drinks, medical, and personal grooming sectors, are using PET bottles, there is an expanding market for PETs. PET bottles are a preferred option for packaging since they are affordable, reusable, and light-weight. The need for PET compressors to manufacture PET bottles grows along with the need for PET bottles. The creation of more successful and dependable compressors as a result of technological developments has also fueled the market's expansion for these products.

COVID-19 Impact: Temporary Shutdowns Caused Disruptions in the Supply of Raw Materials

The pandemic disrupted industrial procedures and distribution chains, which had an effect on the manufacturing and distribution of the compressors. The supply of essential ingredients and components needed for the manufacture of compressors was hampered by temporary shutdowns of industrial facilities, personnel reductions, and travel bans. The pandemic also caused a decline in the market for non-essential items packed in PET bottles, such as cosmetics and alcoholic drinks, which had an impact on the need for PETs in those sectors.

Latest Trends

"Need to Lower Ecological Footprints has Led to Creation of Energy-Efficient Compressors"

The creation of energy-efficient compressors is one of the most recent industry trends for the compressors. Companies are pursuing novel approaches and ideas to lower energy usage in PET compressors systems due to an increasing dedication to environmental sustainability and lowering carbon pollution. To increase effectiveness and reduce energy use, this involves improving the compression steps and using variable speed drives. A developing market exists for the compressors that can run on sources of clean energy such as solar and wind power. A desirable alternative for many sectors, these energy-efficient compressors reduce costs, have a smaller ecological footprint, and can aid businesses in achieving their sustainability objectives.

PET Compressors Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Reciprocating Type, Screw Type and Centrifugal Type

• By Application Analysis

Based on application, the market can be divided into Food and Beverage, Pharmaceutical, Personal Care and Others

Driving Factors

"Advancements in Technology have Increased the Demand for PET Bottles"

When more dependable and efficient compressors are created, the PET market continues to develop. New technological developments have made it possible for companies to create compressors that use less power, last longer, and need less upkeep. Furthermore, along with advancements taking place, PET bottles are commonly utilized to package a variety of consumer goods, including food, beverages, personal care items, and medications. The popularity of these goods, as well as for PET bottles and the PET compressors needed to make them, is on the rise.

"Increasing Industrialization and Stringent Regulations is Anticipated to Drive Demand"

The need for compressors in emerging nations such as India and China is being driven by their fast development. These nations' growing industrial industries are driving a demand for more sophisticated and effective compressor technology. In addition, governments everywhere are putting policies into place to lower emissions and boost energy efficiency. In order to comply with these requirements and lessen their environmental impact, several firms are implementing energy-efficient technologies, namely PET. Overall, these factors are contributing to the PET compressors market growth and are anticipated to continue piloting demand during the forecast period.

Restraining Factors

"Availability of Alternatives and Fluctuating Raw Material Rates Might Hinder Market Expansion"

For the production of PET bottles, there are alternative technical solutions, such as rotary screw compressors, which can be less costly and simpler to maintain. While functioning on a lesser level or with less resources, businesses may decide to employ these options. In addition, the costs of the raw resources required to make compressors, such as steel, copper, and aluminum, might fluctuate and be influenced by changes in the world market. This may increase the price of manufacturing PET and affect the cost of production.

PET Compressors Market Regional Insights

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"Asia Pacific Led the Market due to Rising Demand for PET Bottles in Various Industries in the Region"

China was the biggest market in the Asia Pacific region, which held the largest PET compressors market share. The rising demand for PET bottles across a range of end-use sectors, including beverages and food, care products, and medicines, is to blame for the expansion in the Asia Pacific area. In addition, the need for effective and cutting-edge compressors to assist the production process is being fueled by the quick industrialization of nations such as India, China, and Indonesia. The developing manufacturing base, expanding demographic, and increasing consumer consumption for processed products are projected to propel the Asia Pacific region to maintain its dominance in the PET market throughout the next few years.

Key Industry Players

"Key Players Focus on Product Innovation and Marketing and Branding to Increase their Market Share"

The market participants are using a variety of tactics to enhance their share of the market in the PET compressors industry. To increase awareness of the brand, position their items as premium offerings, and attract prospective customers, businesses invest in advertising and branding initiatives. This can aid them in standing out from the competition and expanding their market share. Also, businesses are spending cash on research and development in order to bring new goods to market that are more effective, require less upkeep, and increase performance.

List of Market Players Profiled

• Ingersoll Rand (U.S.)
• AF Compressors (Belgium)
• Gardner Denver (U.S.)
• Atlas Copco (Sweden)
• Kaeser (Germany)
• ABC Compressors (Spain)
• SIAD Macchine Impianti (Italy)
• Neuman & Esser (Germany)

Report Coverage

This report covers the PET compressors market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2031. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.