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This week’s Thomas Index Report is sponsored by Compressed Air Systems. Backed by more than 55 years of experience, Compressed Air Systems distributes products including air compressors, nitrogen generators, vacuum pumps, and process chillers.
Welcome to the Thomas Index Report for the week of January 27th.
This week, we’re exploring sourcing trends for compressed air systems.
According to the U.S. Bureau of Economic Analysis, the air and gas compressor manufacturing industry totaled $9 billion in 2018.
Driven by the innovative technologies of Industry 4.0, growing demand for energy-efficient products, and increased manufacturing investments in developing countries, the global air compressor market is growing quickly. In fact, it’s expected to reach $40 billion by 2025. This growth is especially concentrated in the automotive, food and beverage, and oil and gas sectors.
Recent sourcing trends for compressed air systems on the Thomasnet.com platform reflect this momentum. Searches in the category were up 72% year-over-year and 61% over last quarter.
Critical to a variety of industrial functions, compressed air systems are expected to continue to experience market growth over the next few quarters, especially in light of the heightened focus on incorporating automation technology across the industry.
In today’s sourcing spotlight, we’re tracking increased sourcing activity for SCADA Systems. The global SCADA systems market is anticipated to reach $47 billion by 2025, up from $31 billion just three years ago. Sourcing for this category on the Thomasnet.com platform is up 100% year-over-year and 170% over the last quarter.
While a substantial upfront cost, SCADA systems are essential for monitoring and analyzing real-time data in automation processes; as Industry 4.0 and automation equipment continue spreading rapidly across industry, we expect to see these upward sourcing trends keep growing.
I’m Tony Uphoff and this is the Thomas Index Report.
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