market is expected to grow from USD 8.60 billion in 2020 and to reach USD 10.57 billion by 2028, growing at a CAGR of 2.60% during the forecast period 2021-2028.
With the increasing urbanization around the globe, the industries are setting up at a faster pace in many regions. Especially in developing countries, demand for a number of industries such as food and beverages, manufacturing, semiconductor, electronics, etc. has increased. The centrifugal air compressors are used vastly in these industries as it provides high volumes of air at a comparatively lower price. Also, it has a longer working life, which further reduces the number of capital investments.
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