CHICAGO, Aug. 12,
2024 /PRNewswire/ -- Air Starter
Market in terms of revenue was estimated to be worth
$449 million in 2024 and is poised to
reach $559 million by 2029, growing
at a CAGR of 4.5% from 2024 to 2029 according to a new report by
MarketsandMarkets™.
The demand for air starters is on the rise globally, driven by a
multitude of factors. Ongoing advancements in air starter
technology, such as the use of enhanced materials and designs that
improve durability and efficiency and provide increased torque
capabilities are particularly being focused. Unlike electric
starters, air starters can withstand extreme temperatures and dusty
environments and eliminate the risk of sparks. Further, expansion
in key industries such as oil & gas, marine, aviation
significantly contributes to the increased adoption of air
starters. These sectors largely use heavy equipment which require a
reliable and robust engine starting solutions to sustain their
operations, making air starters an ideal choice.
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Browse in-depth TOC on "Air Starter
Market"
177 - Tables
48 - Figures
179 -
Pages
Air Starter Market Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$449 million
|
Estimated Value by
2029
|
$559 million
|
Growth Rate
|
Poised to grow at a
CAGR of 4.5%
|
Market Size Available
for
|
2021–2029
|
Forecast
Period
|
2024–2029
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Type, End User and
Region
|
Geographies
Covered
|
Asia Pacific, North
America, Europe, Middle East & Africa, and South
America
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
Growing
industrialization and stringent environmental
regulations
|
Key Market
Drivers
|
Thriving oil & gas
and aviation industries
|
Turbine Air Starters, by Type, is expected to be the largest
segment during the forecast period.
Turbine air starters are commonly used in various industries,
including aviation, marine, and oil and gas, particularly for
starting jet engines, large reciprocating engines, and gas
turbines. Turbine air starters are smaller and lighter than
electric starters, Capable of producing high torque at low speeds,
from a compact, lightweight source, essential for starting large
engines. These starters ensure reliable engine starts under various
environmental conditions. Turbine air starters are used to start
large gas turbines that drive pumps and generators on offshore
drilling rigs. For example, General Electric's LM2500 gas turbines,
commonly used on rigs, are started using air turbine starters due
to their ability to provide high torque in a compact form.
Oil & Gas, by End User, is expected to be the largest and
Fastest segment during the forecast period.
In the oil & gas industry air starters are used to start
large engines and turbines in various applications, including
drilling rigs, production platforms, and refineries. The market is
driven by increasing oil & gas exploration activities and the
need for reliable starting solutions in harsh environments.
North America, and Asia-Pacific are key regions driving demand
for air starters in the oil & gas sector.
Air starters are preferred in the oil & gas sector due to
their reliability and safety compared to electric starters. Air
starters are critical in environments where traditional electric
starters may be unreliable due to factors like moisture, dust, or
explosive atmospheres commonly found in Oil and Gas drilling
operations. Turbot win air starters are designed specifically for
ultimate reliability in the harsh environments of the oil & gas
industry.
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Asia Pacific is expected to
be the fastest-growing region during the forecast period.
Asia Pacific is the fastest
region in the Air Starter Market owing to the region experiencing
significant economic development and growth in industrialization,
leading to a corresponding increase in reliable engine starting
systems for various end use industries. China is estimated to hold a substantial
market share and is the fastest growing market throughout the
forecast period due to its substantial oil & gas activities and
growth in aviation, and marine sectors. Apart from China, India
and rest of Asia Pacific region
are also expected to be attractive markets for air starters during
the forecast period.
Key Players
Some of the major players in the Air Starter
Market are Ingersoll Rand
(US), Caterpillar (US), Rheinmetall AG (Germany), Honeywell International Inc. (US),
TLD (France), Maradyne (US), SPICO
(South Korea), JetAll (US),
Guinalt (France), MASCO (US), KH Equipment (Australia), TDI (US), Hilliard Corporation
(US), Textron Specialized vehicles (US) among others. The major
strategies adopted by these players include new product launches,
joint ventures, collaborations, investments, and expansions.
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Companies and Air Starter Industry Growth
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