Market Size of Air Starter Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 3.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Air Starter Market Analysis
The air starter market is expected to grow at a CAGR of around 3% during the forecast period. Factors such as increasing demand for compact starters that are compatible with operating in the harsh and highly inflammable environment are expected to drive the market across the world. However, due to the outbreak of COVID-19, slow down, or delay of industrial projects such as in the mining sector is likely to hinder the market growth during the forecast period.
- The oil & gas sector is likely to dominate during the forecast period, owing to its high investment to meet the rising energy requirement.
- The oil and gas industry is mostly dominated by countries like the United States, Saudi Arabia, Russia, Iran, and Iraq. But with 2019 oil and gas discoveries in other countries such as Guyana in South America and Ghana in the African region, there is expected to have ample drilling activities, which is likely to create opportunities for the air starter market to install along with the diesel engines on the drilling sites in the near future.
- North America is likely to dominate the market during the forecast period, with majority of the demand coming from the United States and Canada.
