Global Air Compressor market is expected to reach ~USD 40 Bn by 2028F: Ken Research
Global Air Compressor Market By Geography
The Global Air Compressor market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.
Asia Pacific accounted for the largest market share in 2022 of the global air market, due to the increasing demand for air compressors in a number of sectors, such as manufacturing, home appliance, oil and gas, and food and beverage industries.
In addition, there are numerous compressor producers in China and India. For instance, Compressor Products International (CPI) was acquired by a Howden Air and Gas Production Company in December 2021. Through this action, CPI was able to take advantage of development prospects and expand its global distribution and service networks in China
The manufacturers are also paying close attention to the attractive markets of India and Japan; their efforts are mostly focused on building production facilities and setting up established supply chains in the area. Additionally, in the recent past, the majority of consumers from various end-use industries have decided to seek out investments in the Asia Pacific region’s emerging economies, which is pivoting the development of manufacturing clusters throughout those regions and driving up sales of goods for the manufacturing industry.
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Competition Scenario In Global Air Compressor Market
The air compressor market is highly competitive with ~300 players which include globally diversified players, regional players as well as a large number of country-niche players having their niche in air compressors.
Country-niche players control about ~55% of the market, while regional players constitute ~30% of the total number of competitors by type. Some of the major players in the market include Ingersoll Rand Plc, Atlas Copco, Elgi equipment limited, MAT Holdings, Inc., Sullair, Mitsubishi Heavy Industries Ltd., Bauer Compressors, Inc., VMAC Company, Kirloskar Pneumatic, and Doosan Portable power
What Is The Expected Future Outlook For The Overall Global Air Compressor Market Across The Globe?
The Global Air Compressor market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Air Compressor market is driven by the rapid growth in industrialization and rising investments to enhance the oil and gas pipeline network. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
The global market is expanding due to the rising demand for air compressors that are energy-efficient in order to reduce operating costs. The market growth is anticipated to be positively impacted by the increasing initiatives taken by key industry players to create affordable and environmentally friendly air compressors. Several businesses have already created next-generation systems that provide high-performance capabilities at reasonable prices. Atlas Copco, a Swedish multinational industrial company, in 2022, has launched a New Energy-Efficient GA VSDS Compressor that provides up to 60% energy savings and intelligent, adaptable operation.
With the increasing innovation and emergence of new products, the Global Air Compressor market is changing rapidly. For instance, In August 2019, the new line of cutting-edge compressors from Atlas Copco was introduced for small and medium-sized businesses. The new compressors contribute to cost- and production-cutting.
In February 2021, the Mid-Range Series Portable Compressors from Sullair were introduced. The electronic spiral valve technology, which enables flexibility and improved operational efficiency, is integrated into this device.
The global air compressor is forecasted to continue the exponential growth that is witnessed since 2017, due to the increasing demand for products with higher operational output and efficiency is the primary concern that manufacturers are seeking to address in the market. Though the market is highly competitive with ~300 players, few global players control the dominant market share and regional players also hold a significant market share.
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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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