Air Compressor Market Size Growing at 4% CAGR, Set to Reach USD 48.6 Billion By 2032

TOKYO, March 21, 2023 (GLOBE NEWSWIRE) -- The Global Air Compressor Market Size collected USD 33.2 Billion in 2022 and is set to achieve a market size of USD 48.6 Billion in 2032 growing at a CAGR of 4.0% from 2023 to 2032.

Air Compressor Market Research Report Highlights and Statistics:

• The Global Air Compressor Market size in 2022 stood at USD 33.2 Billion and is set to reach USD 48.6 Billion by 2032, growing at a CAGR of 4%
• Key factor driving the growth of the air compressor market is the increasing demand for energy-efficient compressors. As energy costs continue to rise, companies are looking for ways to reduce their energy consumption and operating costs. Energy-efficient compressors are able to deliver the same level of performance while using less energy, making them a cost-effective solution for businesses.
• Asia Pacific stands as the largest market for air compressors during the forecast period, with North America being the fastest growing region worldwide.
• The Air Compressor Market is a rapidly growing industry with a wide range of applications and a diverse range of players, including Atlas Copco AB, Ingersoll-Rand plc, Gardner Denver Holdings Inc., and others.

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Air Compressor Market Report Coverage:

Air Compressor Market Overview:

The air compressor market is a booming industry that offers a diverse range of applications in various sectors, including manufacturing, construction, healthcare, and more. Air compressors are devices that convert power into energy stored in compressed air, which can be used for a variety of purposes. They are used in a wide range of industries, from automotive and aerospace to food and beverage and pharmaceuticals. Air compressors are also commonly used in pneumatic tools, such as nail guns and spray guns, as well as in air conditioning systems and refrigeration units. With the increasing demand for energy-efficient and reliable compressors, the air compressor market is expected to continue to grow in the coming years, creating opportunities for manufacturers and suppliers alike.

Trends in the Air Compressor Market:

• Increased demand for energy-efficient compressors to reduce energy consumption and operating costs
• Growing popularity of portable air compressors for use in construction and DIY projects
• Development of oil-free compressors to eliminate the need for lubrication and reduce maintenance requirements
• Growing adoption of smart air compressors with IoT capabilities for remote monitoring and maintenance
• Use of variable speed drives to improve energy efficiency and reduce wear and tear on compressors
• Growing use of compressed air in the healthcare industry for medical devices and tools
• Adoption of oil-injected screw compressors in the oil and gas industry for drilling and production applications
  

Air Compressor Market Dynamics:

• Increasing demand for compressed air in various industries, such as manufacturing, construction, and healthcare.
• Rising demand for customized air compressor solutions to meet specific customer needs.
• Emergence of 3D printing technology for producing complex compressor components more efficiently
• Increased focus on noise reduction in compressor design to meet noise regulations and improve workplace safety
• Growing use of air compressors in the food and beverage industry for processing and packaging applications
• Development of compressed air energy storage systems for renewable energy applications
• Expansion of the automotive industry, which requires air compressors for various applications, such as painting and sandblasting.
• Growth of the construction industry, which requires air compressors for powering pneumatic tools and equipment.

Growth Hampering Factors in the market for Air Compressor:

• High initial cost of air compressors, which can limit adoption by small and medium-sized businesses.
• Maintenance requirements and associated costs, which can be a burden for some companies.
• Fluctuations in energy prices, which can impact the cost of operating air compressors.
• Environmental concerns related to the use of compressed air, such as emissions and noise pollution.
• Availability and cost of skilled labor for maintaining and repairing air compressors.
• Competition from alternative technologies, such as hydraulic and electric systems.
• Dependence on the manufacturing sector, which can be impacted by economic downturns.
• Limited availability of raw materials and components for manufacturing air compressors.
• High transportation costs for moving bulky air compressors to various locations.
• Risk of component failure and associated downtime, which can impact productivity.

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Market Segmentation:

By Type

• Stationary
• Portable

By Product

• Centrifugal
• Rotary/Screw
• Reciprocating/Piston
  

By Lubrication

• Oil Free
• Oil Filled

By Application

• Semiconductors & Electronics
• Home Appliances
• Oil and Gas
• Healthcare
• Manufacturing
• Food & Beverage
• Energy
• Others

Air Compressor Market Overview by Region:

North America’s Air Compressor market share is the fastest growing globally, driven by the presence of a large number of manufacturing industries and the growing demand for energy-efficient compressors. The region also has a well-established oil and gas industry that requires air compressors for drilling and production activities. Some of the major players operating in this market in North America include Atlas Copco, Ingersoll Rand, and Gardner Denver.

The Asia-Pacific region’s Air Compressor Market share is the highest globally, driven by the rapid industrialization and infrastructure development in countries such as China, India, and Japan. The region also has a large number of small and medium-sized businesses that require cost-effective and portable air compressors. Some of the major players operating in this market in Asia-Pacific include Atlas Copco, Sullair, and Hitachi Industrial Equipment Systems Co.

Europe is another key market for Air Compressor, driven by the expansion of the automotive industry and the growing demand for customized air compressor solutions. The region also has strict regulations related to noise pollution, which has resulted in the development of noise-reducing compressors. Some of the major players operating in this market in Europe include Siemens AG, Kaeser Kompressoren SE, and Elgi Compressors.

The South American and MEA regions have a growing Air Compressor market share. In the Middle East and Africa, the market is primarily driven by the oil and gas industry, which requires air compressors for drilling, production, and transportation activities.

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Air Compressor Market Key Players:

Some of the leading companies in this market include Atlas Copco AB, Ingersoll-Rand plc, Gardner Denver Holdings Inc., Hitachi Industrial Equipment Systems Co. Ltd., Kaeser Kompressoren SE, Kobe Steel Ltd., Sullair LLC, Quincy Compressor LLC, Sullivan-Palatek Inc., ELGi Equipments Limited, Hubei Teweite Power Technology Company Limited, Doosan Portable Power, Fusheng Co. Ltd., BOGE Compressors GmbH & Co. KG, MAT Industries LLC, Rolair Systems, AireTex Compressors LLC, Powermate Vx, Campbell Hausfeld, and DEWALT.

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