Global Air Compressor market expected to record a CAGR of ~5% during the forecast period (2017-2028): Ken Research
What Is The Size Of Global Air Compressor Industry?
Global Air Compressor market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F.
The Air Compressor Market is largely driven by the rapid growth in industrialization and rising investments to enhance the oil and gas pipeline network.
One of the main factors propelling the expansion of the global air compressor market is the expanding oil and gas sector. The market is expanding as a result of the increased energy demand in developing nations like China, India, and South Korea. According to India Brand Equity Foundation (IBEF) by 2045, it is anticipated that India’s oil consumption will have increased by a factor of 2x, to reach 11 million barrels per day.
Environmentally friendly compressor technologies, low maintenance, retrofitting of existing systems, efficient operation at lower costs, rising adoption of variable-speed systems, oil-free lubrication processes, and growth in the popularity of portable models are propelling the growth of the market.
Strict government restrictions related to noise levels and greenhouse gases emitted by air compressors would be a significant barrier for this market. According to Legal Information Institute, a non-profit organization, portable air compressors with a maximum rated capacity of less than or equal to 250 cubic feet per minute (cfm) should not produce an average sound level in excess of 76 dBA when measured and evaluated in accordance with the methodology given by this regulation.
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Global Air Compressor Market By Type
The Global Air Compressor market is segmented by Type into Stationary and Portable.
The Stationary segment held the largest market share of the Global Air Compressor Market in 2022, due to the extensive use of these compressors in the industrial sector.
The expansion of air compressor market has been driven by the rising demand for stationary air compressors in the global manufacturing sector.
Furthermore, the demand for stationary air compressors is anticipated to increase in the near future as a result of the rapid industrialization in developing nations like Saudi Arabia, the United Arab Emirates, India, Brazil, and China.
Global Air Compressor Market By Technology
The Global Air Compressor Market is segmented by Technology into Rotary, Centrifugal and Reciprocating.
Rotary segment held the largest share of the global air compressor market in 2022, due to the increased demand for rotary air compressors in major industries, including pulp and paper, mechanical and electrical machinery, mining and metallurgy, and electric power.
A rotary compressor is a type of air compressor that creates compressed air using two rotating screws. In comparison to other compressor types, rotary screw air compressors are cleaner, quieter, and more effective.
Global Air Compressor Market By Lubricant
The Global Air Compressor market is segmented by Lubricant into Oil-free and Oil filled.
The oil-filled segment accounted for the majority share of the global air compressor market in 2022, as they were widely adopted for commercial applications in the energy, manufacturing, and chemical industries. They are durable and produce low noise compared to the oil-free compressor.
Heavy-duty applications frequently use oil-filled segments because of their reliability and resistance to harsh environments. Higher operational output and improved air delivery are made possible by the durable construction and long-lasting design.
Oil-filled compressors are more appropriate for industrial applications since they can work at a higher capacity.
Global Air Compressor Market By Application
The Global Air Compressor market is segmented by Application into Manufacturing, Food & Beverage, Healthcare/Medical, Oil & Gas, Home Appliances, Energy & Power, Electronics & Semiconductor and Others.
The manufacturing segment accounted for the largest market share in 2022 of the global air compressor market due to the increase in investments in the industrialization of developing and underdeveloped regions is driving the segment’s expansion.
Developing nations like India, China, and Brazil are rapidly industrializing, and the manufacturing sector is seeing an increase in demand for advanced and energy-efficient air compressors.
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Key Topics Covered in the Report
- Snapshot of Global Air Compressor Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Air Compressor Market
- Historic Growth of Overall Global Air Compressor Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of Global Air Compressor Industry
- Overview, Product Offerings, and Strength & Weakness of Key Competitors
- COVID-19 Impact on the Overall Global Air Compressor Market
- Future Market Forecast and Growth Rates of the Total Global Air Compressor Market and by Segments
- Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
- Analysis of Global Air Compressor in Major Regions
- Major Production/Supply and Consumption/Demand Hubs within Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Region
Notable Emerging Companies Mentioned in the Report
- Porter Cable
- Siemens
- Cook Compression
- AireTex Compressor
- Best Aire LLC
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Air Compressor Companies
- Air Compressor Manufacturers Association
- Industrial Machinery Research & Development Institutes
- Government Ministries and Departments of Engineering and Machinery
- Investment Banks targeting Industrial Machinery Sector
- Private Equity and Venture Capital Firms targeting Industrial Machinery Sector
- Components and Material Suppliers to Compressor Manufacturers
Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
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