NEWARK, Del, July 31, 2023 (GLOBE NEWSWIRE) -- The Industrial Air Compressor Market is expected to grow at an 8.2% CAGR between 2023 and 2033. The market is expected to be valued at US$ 3.12 billion in 2023, with a market share of US$ 6.86 billion by 2033.
Global Industrial Air Compressor Market Insights:
- The highly reliable and industry-specific air compressors and the rising harsh environment are garnering market growth. Furthermore, the wide range of manufacturing, automotive, dry cleaning, and healthcare industries are collectively expected to flourish the market growth.
- Compressed air systems with consistent power delivery along with higher durability are anticipated to gain traction in the market during the forecast period. Alongside this, the increase in amusement parks is also expected to increase the sales of industrial air compressors.
- The new healthcare systems and oxygen-compressing machines are adopting air compressors to transfer oxygen from storage to the ICU. Hence, the expanding healthcare facilities are propelling the market’s success.
- The government focuses on enhancing agriculture's present condition through modern-day irrigation and plowing techniques. The use of air compressors in the field includes filling the air in the vehicles, applying pesticides, and controlling robots.
- Lastly, the food and beverage industry is flourishing with the latest developments, such as more ready-to-eat meals and food products. The general manufacturing industry is also helping the market reach its goal.
- New industrial addition with the same old resources also increases the demand for industrial air compressors.
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Key Takeaways from the Industrial Air Compressor Market Research Study:
- The United States market leads the North American Industrial Air Compressor Market in terms of market share in North America. The United States held a market share of 28.5% in 2022. The factors attributed to the growth are new industries settling into the space, large manufacturing sites opening up, and enhanced healthcare centers.
- The German Industrial Air Compressor Market held a healthy market share of 11.6% in 2022. Higher economic activities, food and beverage production, and high-end research and development across Europe, including Germany, cause market growth.
- The Indian market thrives at a steady CAGR of 7.3% between 2023 and 2033. The growth is attributed to the nation going through industries 4.0 (Fourth Industrial Revolution) and advancing its manufacturing capacity.
- China thrives at a CAGR of 8.3% between 2023 and 2033.
- Based on cooling type, the refrigerant segment held the leading market share of 20.6% in 2022. Higher industrial and residential storage consumption is expected to flourish the segmental growth.
- Based on end users, the data center segment leads as it held a market share of 22.5% in 2022.
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Top 18 Companies in the Industrial Air Compressor Market and Their Marketing Strategies:
- Atlas Copco
- Baker Hughes Company
- Bauer Kompressoren GmbH
- Burckhardt
- ELGi
- GE
- Hitachi Industrial Equipment Systems Co.
- Howden Group
- IHI Corporation
- Ingersoll Rand
- Kaeser Kompressoren
- Kaishan Compressor Co., Ltd.
- Kobelco Compressors
- MAN SE
- MITSUBISHI HEAVY INDUSTRIES, LTD.
- Quincy Compressor
- Siemens Energy AG
- Sullair LLC
Recent Market Developments :
- Howden Group introduced its reciprocating compressor series 'C' and 'P,' a fully integrated package with 17 MW power and high power units. The brand has also added rotary screw compressors with oil-free and oil-injected models.
- Ingersoll Rand introduced reciprocating air compressors along with oil-flooded air compressors. The company also produces process gas compressors and centrifugal air compressors.
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Industrial Air Compressor Market Segmentation:
By Technology:
- Rotary Industrial Air Compressor
- Reciprocating Industrial Air Compressor
- Centrifugal Industrial Air Compressor
- Axial Industrial Air Compressor
By Capacity:
- Upto 500 HP
- 500 to 2000 HP
- 2000 to 5000 HP
- 5000 to 12000 HP
- 12000 to 20000 HP
- Above 20000 HP
By Compression Stage:
- Single Stage Industrial Air Compressor
- Double Stage Industrial Air Compressor
- Multistage Industrial Air Compressor
By Driver Type:
- Electric Industrial Air Compressor
- Natural Gas Industrial Air Compressor
- Fuel Driven Industrial Air Compressor
By End Use:
- Automotive and Transportation
- Oil and Gas
- Power Generation
- Chemicals
- Food and Beverages
- Pharmaceuticals
- Mining and Metals
- Industrial Air Separation
- Other manufacturing
Key Regions Covered:
- North America
- United States
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- United Kingdom
- France
- Spain
- Russia
- Rest of Europe
- Japan
- Asia Pacific Excluding Japan
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
- The Middle East and Africa
- GCC Countries
- Israel
- South Africa
- Middle East and Africa (MEA)
Explore Future Market Insights, Inc. Extensive Coverage in Industrial Automation Domain:
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Refrigeration and Air Conditioning Compressors Market Review: The refrigeration and air conditioning compressors market is estimated to secure a CAGR of 3% during the forecast period. The market registered a valuation of US$ 35.1 billion in 2023 and reached US$ 47.2 billion by 2033.
Air Compressor Filters and Compressed Air Dryers Market Revenue: Demand is likely to remain high for air compressor filters and compressed air dryers during the assessment period. this is due to the rising application of air compressor filters and compressed air dryers across various end-use industries and garnering US$10.4 billion in 2033, recording a CAGR of 6.1% from 2023 to 2033.
Compressed Air Filtration and Dryer System Market Forecast: The compressed air filtration and dryer system market is expected to expand its roots at an average CAGR of 5.7% during the forecast period. The market is likely to hold a revenue of US$ 5.69 billion in 2023 while it is anticipated to cross a value of US$ 9.91 billion by 2033.
Membrane Air Dryers Market Overview: The global membrane air dryers market is estimated to surpass a valuation of US$ 1,200 Million by the end of 2032.
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