Pune, India, Oct. 03, 2022 (GLOBE NEWSWIRE) -- The global Air Compressor Market size was USD 15.46 billion in 2020. The market is projected to grow from USD 15.88 billion in 2021 to USD 22.27 billion in 2028 at a CAGR of 4.9% in the 2021-2028 period. Fortune Business Insights™ has provided this information in its report titled, “Air Compressor Market, 2021-2028.”
Report Coverage
The report offers an in-depth study of the air compressor market segments and a thorough analysis of the market overview. A thoughtful evaluation of the current market trends and future opportunities is offered in the report. Moreover, it presents an exhaustive analysis of the regional insights and how they help form market growth. The COVID-19 impacts have been discussed in the report to assist investors and business owners in better understanding the possible threats present in the market. The report further discusses the key players and their prominent strategies to stay in the dominating position.
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COVID-19 to Hamper Prospects for Novel Construction Events
The COVID-19 pandemic has substantially restrained the economies of the established as well as the emerging countries by a prominent level. The stringent lockdown procedures enforced by practically every other government closed international borders, several restrictions on import and export cargo shipment delayed the growth and operations of the market.
Moreover, the commotion of supply chain processes in the market further plunged market accomplishments across the world.
Air Compressor Market Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast CAGR | 4.9% |
| 2028 Value Projection | USD 22.27 billion |
| Base Year | 2020 |
| Air Compressor Market Size in 2021 | USD 15.88 billion |
| Historical Data | 2017-2019 |
| No. of Pages | 160 |
| Segments Covered | By Product Type, By Mode of Operation, By Lubrication, By Application, By Region |
| Air Compressor Market Growth Drivers | Innovative Manufacturing Infrastructure of Modern System to Dictate Market Growth |
| Requirement of Highly Durable Compressor for Drilling Procedures to Spur Market Growth |
According to our researchers, the substantial demand for the product in energy and power, manufacturing, as well as oil & gas industry is expected to hike the development rate of the market across diverse local markets. Moreover, crucial market players are seen producing oil-filled rotary compressors, where the need for a sturdy compressor is essential.
These players are further involved in producing oil-free air compressors where a lightweight, economical and low upkeep budget compressor is necessary. This is therefore expected to bolster the demand for air compressors throughout the forecast period of 2021-2028.
Fortune Business Insights™ lists out all the Air Compressor Market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- ELGi Equipments Limited (Coimbatore, India)
- Atlas Copco AB (Nacka Municipality, Sweden)
- Sulzer Ltd. (Winterthur, Switzerland)
- Hitachi Ltd. (Tokyo, Japan)
- Ingersoll Rand (North Carolina, U.S.)
- Campbell Hausfeld (Ohio, U.S.)
- Mitsubishi Heavy Industries Ltd. (Tokyo, Japan)
- Doosan Infracore Portable Power (North Carolina, U.S.)
- Kirloskar Pneumatic Company Limited (Pune, India)
- Elliott Group Ltd. (Pennsylvania, U.S.)
- Siemens AG (Munich, Germany)
- MAN Energy Solutions (Augsburg, Germany)
- Bauer AG (Schrobenhausen, Germany)
- EBARA CORPORATION (Tokyo, Japan)
- Embraco LLC (Joinville, Brazil)
- KAESER KOMPRESSOREN (Coburg, Germany)
- AREA COOLING SOLUTIONS SA (Barcelona, Spain)
- BITZER Group (Sindelfingen, Germany)
- Indo Air (Gujrat, India)
- Vortex Compressor (Ankara, Turkey)
- Yigitsan Compressor (Istanbul, Turkey)
- ALMiG Kompressoren GmbH (Köngen, Germany)
- Chicago Pneumatic Air Compressors (Chicago, U.S.)
- Quincy air compressors (Alabama, U.S.)
- BAC Compressors (Tamil Nadu, India)
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Drivers and Restraints
Advanced Industrial Infrastructure of Modern System to Support Market Growth
Manufacturers across the world are driven to improve technologically efficient, atomized and state of the art technology incorporated manufacturing services. The producers are utilizing high-end compressors that can offer greater energy output and deliver more productivity for customers.
Additionally, the presentation of great performance portable air compressors is projected to be executed as a transportable apparatus at industrial units. Furthermore, the application of oil-free and oil-filled compressors section according to the necessity of industry operations shall also offer novel growth prospects for the market. This is anticipated to spur the air compressor market growth during the mentioned timeframe.
Segmentation
On the basis of mode of operation, the global market is segregated into rotary, centrifugal, and reciprocating. The rotary segment is anticipated to arise as the dominating segment in the global market.
Based on product type, the market is categorized into stationary and portable.
In terms of lubrication, the global market is branched into oil-filled and oil-free.
On the basis of application, the market is further bifurcated into manufacturing, oil and gas, energy and power, electronics and semiconductor, healthcare, food and beverages, and others.
Geographically, the global market is classified into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Regional Insights
Asia Pacific to Hold the Lion’s Share
Asia Pacific held the majority of the air compressor market share and is projected to develop significantly in the market during the mentioned period. The market's development is mainly due to the rising automation and atomization of production plants across the emerging countries within this region.
North America held the second-largest market share. The rising trend of substituting old compressors in production divisions and installing contemporary products has augmented the sales of ground-breaking technology incorporated products across North America.
In Europe, the application of the regulation by the European Union concerning the functioning proficiency of compressors and the surging development of agreement principles is nurturing sales of novel products in the market.
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Competitive Landscape
Key Companies Focus on Collaborations and Joint Ventures to Gain Maximum Momentum
The global manufacturers and industrial producers functioning in the market are concentrated on the development of various product collections incorporated with innovative technologies and advanced products to entice clientele from various industries towards their services and products.
Table of Content
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Product Types
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19 on Air Compressors Market
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- Global Air Compressors Market Share Analysis and Matrix, 2020
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players (Would be provided for 10 players only)
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
Key Industry Development
February 2021: Sullair, one of the prominent manufacturers of compressors, has launched Mid-Range Series Portable Compressors, integrated with Electronic Spiral Valve Technology. The product will provide better flexibility and higher efficiency in operations. The portable equipment and smaller engine size of the product provide exceptional maneuverability and ease in towing operations for the customers.
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