Pune, April 12, 2023 (GLOBE NEWSWIRE) -- According to a report by SNS Insider, the Air compressor Market had a valuation of USD 31.74 billion in 2022 and is projected to reach USD 43.10 billion by 2030, with a compound annual growth rate of 3.9% during the forecast period from 2023 to 2030.
Market Overview
An air compressor is a mechanical device that is used to convert power into potential energy stored in compressed air. This compressed air can be used for various applications, such as powering pneumatic tools, spraying paint or coatings, filling tires, and even providing breathing air for scuba diving. Air compressors are available in various types and sizes, ranging from small portable units to large industrial models.
Market Analysis
The air compressor market is expected to experience significant growth in the coming years, driven by a range of factors. One of the key drivers of growth is the increasing demand from the manufacturing industry, particularly in developing countries where there has been a significant increase in manufacturing activity in recent years. As these countries continue to develop and modernize their industrial infrastructure, the demand for air compressors is expected to grow. In the automotive industry, air compressors are used to power a range of tools and equipment, while in the construction industry, they are used to power pneumatic tools such as nail guns and jackhammers. In the healthcare industry, air compressors are used to power medical equipment such as respirators and ventilators.
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Key Company Profiles Listed in this Report Are:
The Key Players are Frank Compressors, Galaxy Auto Stationary Equipment Co. Ltd., Gast Manufacturing, Inc., GENERAL ELECTRIC, Ingersoll Rand Plc, Kaeser Compressors, MAT Industries, LLd, AireTex Compressor, Atlas Copco, Bauer Group, BelAire Compressors, Cook Compression, Compressor Products International (CPI) & Others.
Impact of Recession on Air Compressor Market Growth
A recession can have a notable impact on the air compressor market, causing fluctuations in demand and sales. The degree to which the market is affected will depend on the severity of the recession and the industries that rely on air compressors. Manufacturers and distributors in the market need to be prepared to adapt to changing market conditions and adjust their strategies accordingly.
Air Compressor Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 31.74 Billion |
| Market Size by 2030 | US$ 43.10 Billion |
| CAGR | CAGR of 3.9% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Key Market Segmentation | • by System Type (portable and stationary) • by Technology (Reciprocating, Rotary, Centrifugal) • by Lubrication method (oiled and oil-free) • by Power Rating (0-100kw,101-300kw,301-500kw,501kw, and above)• by End-user industry (food and beverages, oil and gas, manufacturing, medical power generation, others) |
| Key Regional Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Key Regional Developments
The Asia-Pacific region is expected to maintain its dominance in the air compressor market in the coming years, owing to the growing demand from various industries and ongoing infrastructure development projects. With the presence of numerous manufacturers offering cost-effective solutions, the region is poised for further growth and expansion in the near future. The ongoing infrastructure development projects in the region, such as the Belt and Road Initiative (BRI) and various smart city projects, are also driving the demand for air compressors.
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Key Takeaway from Air Compressor Market Study
- The market is expected to experience significant growth in the coming years, with the portable segment leading the way. Portable air compressors have become increasingly popular due to their convenience and versatility, and their compact size and portability make them an ideal choice for a wide range of applications.
- The market is expected to experience significant growth in the coming years, with the reciprocating segment expected to dominate the market. Reciprocating air compressors are widely used across a range of industries due to their versatility and reliability. These compressors work by using a piston to compress air in a cylinder, which is then stored in a tank until it is needed.
Recent Developments Related to the Air Compressor Market
- ELGi, a global air compressor manufacturer, has recently announced the rebranding of its portable air compressor line in North America. The rebranding initiative is part of the company's efforts to enhance its brand image and provide a more cohesive product line to customers.
- SAU s.p.a., a leading Italian manufacturer of air compressors, has recently announced the completion of its acquisition of GIS Air Compressor, a well-known brand in the air compressor industry. The acquisition is a strategic move for SAU s.p.a. and is expected to enhance the company's position in the global market.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Air Compressor Market Segmentation, By Type
9. Air Compressor Market Segmentation, By Technology
10. Air Compressor Market Segmentation, By Lubrication Method
11. Air Compressor Market Segmentation, By Power Rating
12. Air Compressor Market Segmentation, By End-User Industry
13. Regional Analysis
14. Company Profiles
15. Competitive Landscape
16. Conclusion
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SNS Insider is one of the leading market research and consulting agencies that dominate the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
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