Industrial Air Compressor Market to Rise at CAGR of 3.9% During Forecast Period, Observes TMR Study

 | Source: Transparency Market Research Transparency Market Research

  • Increasing consumer understanding of energy-efficient models is likely to drive the demand for environment-friendly industrial air compressors

ALBANY N.Y., March 07, 2022 (GLOBE NEWSWIRE) -- The global industrial air compressor market is estimated to attain value of US$ 26.6 Bn by 2030. Based on revenue, the global market is predicted to develop at a CAGR of 3.9% during the forecast period, from 2020 to 2030.The usage of air compressors is related with a significant amount of energy consumption. The air compressor market is largely driven by rising consumer awareness regarding energy-efficient designs. Trillion kilowatt-hours of power are consumed yearly by the residential, commercial, and industrial sectors. Consumers are searching for an energy-efficient version that will utilize less energy and reduce their electric bills as well as their carbon footprint. Various governments are enacting strict rules in order to safeguard the environment as well as maintain stable greenhouse gas levels in the atmosphere. Consequently, the global industrial air compressor market is likely to be driven by rising demand for energy-efficient air compressors throughout the forecast period.

Centrifugal air compressors come with distinct benefits that are converting into business potential for producers. Ingersoll Rand, for instance, is marketing its TURBO-AIR® integrally geared and MSG® (multi-stage geared) centrifugal compressors, which provide great design freedom. As a result, to diversify their income streams, players in the industrial air compressor market are reinforcing their supply chains with aftermarkets. They are beefing up their R&D efforts to boost industrial air compressor input capacity, flow, and discharge pressures.

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Centrifugal compressors are progressively replacing older, more expensive compressor types available in the market. These properties of centrifugal compressors are likely to augur well for the global market.  As a result, prominent companies with decades of centrifugal experience have an edge over emerging players.

Key Findings of Market Report

  • Makers of industrial air compressors are using energy-efficient electric motors and lithium-ion batteries to power their machines. At urban construction projects, electric-powered portable compressors are proving to be a viable alternative to diesel-fueled devices. The expanding nature of the construction business is encouraging compressor makers to bolster their manufacturing capacities.

  • Oil-free industrial air compressors have a low cost of ownership and are environmentally benign. This bodes well for end user customers. Manufacturers in the industrial air compressor industry are raising the supply of ISO (International Organization for Standardization)-certified oil-free screw compressors to strengthen their credibility. Compressors with high and low pressure dry screw air ends have great energy efficiency ratings.

  • Customers are requesting oil-free compressors as air purity is vital in various industries. This eliminates the risk of damage to production equipment or oil spoilage. Oil-free compressors save cost by removing the need for costly oil refills, according to companies in the global industrial air compressor market.

  • Usage of air compressors is related with a significant amount of energy consumption. The air compressor industry is largely driven by rising consumer knowledge about its energy-efficient versions.  Consumers are seeking for an energy-efficient designs that uses less energy and emits less carbon dioxide.

  • The industrial air compressor market in North America is likely to be led by the U.S. Production and development of oil &natural gas in the U.S. are quickly increasing. Drilling and production technology developments are expected to result in substantial expansion in U.S. oil and natural gas output, which is likely to fuel regional market growth throughout the forecast period.

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Global Industrial Air Compressor Market: Growth Drivers

  • End consumers favor air compressors with strong performance features, as they can tolerate harsh industrial situations. Players in the global industrial air compressor market are boosting their manufacturing capacity to produce oil-free compressors to cater to the demand of convenience of end users.
  • Global players in the market are adopting improved technology, which is estimated to drive the demand for air compressors in various industries. In the global market, technology advancement is a critical element, resulting in high demand for conventional air compressors to be replaced.

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Global Industrial Air Compressor Market: Key Players

Some of the key market players are

  • Mitsubishi Heavy Industries Ltd.
  • Kaeser Kompressoren Co., Ltd.
  • The Japan Steel Works, LTD.
  • Mikuni Kikai Kogyo Co., LTD.
  • IHI Corporation, Ltd
  • Ingersoll Rand Inc.

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Global Industrial Air Compressor Market: Segmentation

Product Type

  • Reciprocating
  • Rotary
  • Centrifugal

Lubrication

  • Oil-filled
  • Oil-free

Form Factor

  • Portable
  • Stationary

Industry

  • Oil & Gas
  • Manufacturing
  • Healthcare/Pharmaceutical
  • Food & Beverages
  • Energy & Utility
  • Consumer Goods
  • Metal & Mining
  • Transportation
  • Others

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