The Air Starter Market was at US$ 379.1 Million in 2021 and is growing to approx US$ 523.3 Million by 2030, with a CAGR growth of 5.19% between 2022 and 2030.

SANDY, UTAH, UNITED STATES, September 13, 2022 /EINPresswire.com/ -- According to the study, The Global Air Starter Market was estimated at USD 379.1 Million in 2021 and is anticipated to reach around USD 523.3 Million by 2030, growing at a CAGR of roughly 5.19% between 2022 and 2030.

Air Starter Market: Overview

The increasing demand for air starters that are compatible with two different types of machines and devices has boosted the market to a great extent as the key market players are constantly performing research and development programs to develop such products. Increasing demand for energy and power among the industries has emerged as a major reason for boosting the market for air starters, which is expected to grow further in the future.

Air Starter Market: Growth Drivers

he increasing demand for better air starters from the aviation industry has emerged as a major driving force for the growth of the air starter market. Military aircraft require advanced turbine engines to acquire a better performance while using them; hence, the demand for air starters is increasing rapidly over time. This is a technology that is used in almost every industry all around the world and hence the demand has been increasing for a long time. The automotive industry also emerges as a major driving force for the growth of the air starter market pertaining to the increasing demand for advanced vehicles with more refinement among potential consumers.

The marine industry proves to be a great opportunity for the growth of the air starter market as the demand for better turbines for the shipping industry has raised. These multiple reasons have emerged as the driving forces for the market’s growth during the forecast period.

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Key Insights:

A) As per the analysis shared by our research analyst, the Air Starter Market is estimated to grow annually at a CAGR of around 5.19% over the forecast period (2022-2030).
B) In terms of revenue, the Air Starter Market size was valued at around USD 379.1 Million in 2021 and is projected to reach USD 523.3 Million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) The high cost associated with the manufacturing of advanced air starters has emerged as a major restraining factor for the growth of the air starter market which is expected to hamper the growth in the future as well.
D) The existence of other substitutes which are cheaper as compared to air starters has emerged as a major restraining factor for the market. These multiple reasons have emerged as the restraining factors for the market’s growth during the forecast period.
E) Most industries all over the world make use of air starters which are utilized as turbines, this proves to be a tremendous opportunity for the growth of the market during the forecast period. A huge number of advanced technologies have been introduced into the market by the key market players to tend to the rapid research and development programs.

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Regional Landscape

The geographical sector of North America has emerged as the largest market for air starters pertaining to the huge demand it has experienced from this region the huge number of marine industries that are demanding advanced air starters has proved to be a tremendous opportunity for the growth of the air starter market.

The aviation industry has also demanded advanced technologies which provide better results by consuming lesser energy which emerges as another driving force for the market. The region of Europe has also contributed significantly to the growth of the air starters market pertaining to the increasing demand for aquatic food products among the people. Rapid industrialization which has taken place in this sector with the active participation of the government has emerged as a major opportunity for the market. The region of Asia Pacific has also contributed significantly to the growth of the air starter market due to the presence of the key market players which are constantly conducting research and development programs for introducing new technologies into the market.

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Key Players

Ingersoll Rand
Maradyne Corporation
KH Equipment
Gali
Air Starter Components (ASC)
Tech Development (TDI)
Shin Hueng Precision
Powerworks
Miller Air Starter
Multi Torque Industries
IPU Group

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The Air Starter Market is segmented as follows:

By Product
Vane Starter
Turbine starter

By Application

Portable
Stationary

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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