As more and more companies become energy and cost-sensitive, compressed air will emerge as one of the most favored ways to power tasks in factories and homes. In this blog, we take you through some of the most significant compressed air trends that customers and air compressor dealers must watch in 2023.
Here are the trends in the compressed air industry to look out for in 2023
1. Demand for Compressed Air Equipment Remains High
Compressed air is often the 3rd or 4th most favored utility in the manufacturing industry. As per a market analysis report, the global air compressor market stood at $32.02 billion in 2020 and is expected to grow at a CAGR of 3.4% from 2021 to 2028. Although the growth was somewhat tempered by the pandemic which caused a general slowdown across sectors, the post-pandemic world is ever more focused on energy efficiency, reducing costs, and cutting CO2 emissions. With the growing standard of living especially in the Asia-Pacific region, air compressors will see plenty of demand due to the rising use of air conditioners.
2. Lead Times Remain Longer than Normal – Especially for Steel Parts
A number of factors can affect the lead times of spare parts such as demand, stockouts, shipping delays, inefficient inventory control, and unnecessary processes. An Elgi compressor with its sophisticated design is made up of a number of small and large components.
When it comes to the spare parts of your air compressors, you might experience longer than normal lead times. This is because most industries are just reopening after the pandemic, and with a sudden spurt in demand, mills will be looking to complete orders of priority sectors ahead of manufacturers of air compressor parts. This being a classic demand-supply problem, might even affect the prices of the spare parts, causing a bit of a concern to customers as well as air compressor dealers.
3. Compressed Air Supply Chains and Prices Are Stabilising
Compressor dealers have witnessed a serious disruption in business due to the pandemic. The complex designs and assemblage of a number of parts sourced from different manufacturers could make logistics for a typical Elgi compressor dealer rather challenging. But as the pandemic ebbs away, the global economy is recovering fast, most Elgi air compressor distributors would expect the supply chains and prices to stabilize once again.
4. Industrial Internet of Things (IIoT) Applications Are Coming for Compressed Air
The Industrial Internet of Things (IIoT) will have massive implications for preventative maintenance, performance tracking, and energy efficiency. Air compressors communicating over the internet can share the condition of their parts such as belts and motors. The enormous amount of data produced as a result will be handy in designing energy-efficient and high-performing air compressors. Monitoring will become remote and convenient as parameters like flow, pressure, speed, etc. will be available on mobile devices.
VEMC is one of the leading ELGi Air Compressor Dealers in Mumbai. For details or any queries on Elgi air compressors, feel free to contact our experts at 022 43436655 or email us at marketing@vemc.co.in. We at VEMC are way ahead of other air compressor dealers with a proven track record of excellence. As the most reliable Elgi dealer, we are committed to swift on-call service and top-class preventative maintenance.