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The air starter market share is expected to increase by USD 63.4 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.71%.
This air starter market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers air starter market segmentation by type (turbine air starter and vane air starter) and geography (North America, Europe, APAC, the Middle East and Africa, and South America). The air starter market report also offers information on several market vendors, including Air Starter Components, Austart Air Starters, Dusterloh Fluidtechnik GmbH, Energotech AG, Gali, Industrial Power Units Ltd., Ingersoll Rand Inc., KH Equipment, Komarine Co., Maradyne Corp., Melrose Industries Plc, Miller Air Starter Co. Inc., Power Force Technologies Pte Ltd., POWER WORKS Pty Ltd., TDI Air Starters, and The Rowland Co. among others.
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The increase in oil and gas E&P activities is notably driving the air starter market growth, although factors such as the high failure rate of air turbine components may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the air starter industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Air Starter Market Driver
An increase in oil and gas E&P activities is one of the major drivers impacting the air starter market growth. Unconventional oil and gas E&P activities have become an alternative to conventional production. Major unconventional oil and gas reserves have been identified in the US, Canada, China, and Argentina. The US and Canada are among the countries carrying out drilling activities to tap unconventional resources. The US has a significant amount of shale oil and gas reserves. According to the US energy information administration (EIA), in 2020, about 6.5 mbpd of crude oil was produced directly from tight oil resources, which accounted for about 59% of the total crude oil production in the country. Several countries are planning to start production from offshore oil and gas fields. For instance, Norway has planned to expand its offshore oil E&P activities, with its Johan Sverdrup and Johan Castberg oil and gas fields expected to start production by the end of 2022. Therefore, the increase in oil and gas E&P activities is expected to fuel the demand for air starters to supply the primary rotation to start the diesel engines, propelling the growth of the market in focus during the forecast period.
Key Air Starter Market Trend
Rising investments in the shale industry is one of the major trends influencing the air starter market growth. The shale industry is experiencing high investments, especially in the US, with financiers pouring in cash to help producers increase their output. Investments in conventional crude oil are moderately slow, with the International Energy Agency (IEA) reporting a rise in investments in the oil and gas industry by around 5% in 2021 compared to 2020. The shale industry is likely to witness a higher growth rate during the forecast period owing to a rise in investment in the shale industry. Oil companies are focusing on investing in short-cycle shale projects that reduce risks and provide a quick return on investments. Chevron is likely to increase its investment in the US shale industry. Other companies, including ConocoPhillips and ExxonMobil, are also increasing investments in the shale industry to drive production growth.
Key Air Starter Market Challenge
The high failure rate of air turbine components is one of the major challenges impeding the air starter market growth. The reliability of turbines is a prerequisite for the actual generation of power from wind energy. Any catastrophe of components will negatively distress the functioning of the entire system. A wind turbine is manufactured by integrating various components and technologies, ranging from hydraulics, aeronautics, automation, and others. Rotor blades of a static wind turbine rotate in the presence of wind. The generator of the turbine that converts rotational energy into electrical energy accounts for about 4% of the total air turbine cost. Any damage to the air turbine system will adversely impact the entire operation of the air turbine, which can eventually lead to its breakdown. As an air starter system is a power source that provides the initial rotation required to start air turbine engines, this poses a major challenge to the growth of the air starter market during the forecast period.
This air starter market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global air starter market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the air starter market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the air starter market encompasses successful business strategies deployed by the key vendors. The air starter market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The air starter market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the air starter market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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44% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the air starter market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
[growth driver in the region] will facilitate the air starter market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the air starter market was negatively impacted in North America, owing to the spread of COVID-19. Governments of the countries of this region, such as the US, Canada, and Mexico, had to impose lockdowns in 2020, resulting in a huge number of production facilities shutting down temporarily across end-user industries such as oil and gas, power generation, mining, and others, leading to drop in production of rate across the end-user industries in North America.
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The air starter market share growth by the turbine air strater segment will be significant during the forecast period. The turbine air starter segment dominated the air starter market, and it had the largest share of the global air starter market in terms of value and size in 2021, owing to its capacity to generate more torque compared to an electric starter.
This report provides an accurate prediction of the contribution of all the segments to the growth of the air starter market size and actionable market insights on post COVID-19 impact on each segment.
Air Starter Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.71% |
Market growth 2022-2026 |
$ 63.4 million |
Market structure |
Fragmented |
YoY growth (%) |
3.36 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
APAC at 44% |
Key consumer countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Air Starter Components, Austart Air Starters, Dusterloh Fluidtechnik GmbH, Energotech AG, Gali, Industrial Power Units Ltd., Ingersoll Rand Inc., KH Equipment, Komarine Co., Maradyne Corp., Melrose Industries Plc, Miller Air Starter Co. Inc., Power Force Technologies Pte Ltd., POWER WORKS Pty Ltd., TDI Air Starters, and The Rowland Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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