Pune, Oct. 09, 2024 (GLOBE NEWSWIRE) -- Air Compressor Industry Analysis:
“According to SNS Insider Research, The Air Compressor Market Size was valued at USD 24.64 billion in 2023 and is expected to reach USD 38.62 billion by 2032 with a growing CAGR of 4.97% over the forecast period from 2024 to 2032.”
Driving Innovation: The Expanding Landscape of the Air Compressor Market
The air compressor market is experiencing notable growth, driven by advancements in technology and increasing demand across various industries. Air compressors, which convert power into potential energy stored in compressed air, are essential in numerous applications, from powering tools to facilitating manufacturing processes. Key players in the market, such as Doosan Bobcat, are introducing innovative products, like the new 150 HP industrial air compressor, which enhances efficiency and reliability for industrial applications. According to sources, the types of air compressors vary, including reciprocating, rotary screw, and centrifugal models, each catering to different operational needs. The versatility of air compressors, coupled with rising automation trends, is propelling their adoption in sectors such as construction, automotive, and healthcare. For instance, in the construction industry, the demand for portable air compressors is on the rise, as they offer mobility and convenience for onsite tasks.
As environmental concerns gain prominence, the market is also seeing a shift towards more energy-efficient and sustainable compressor models. Companies are focusing on reducing carbon footprints while maintaining high performance, aligning with global sustainability initiatives. This shift is expected to lead to innovations in air compressor designs, such as those incorporating variable speed drives for better energy management. Additionally, the market is characterized by increasing competition, with manufacturers striving to differentiate their products through enhanced features, reliability, and service support. This competitive landscape is fostering continuous improvements in product quality and customer service, ultimately benefiting consumers.
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Major Players Analysis Listed in this Report are:
- Frank Compressors
- Galaxy Auto Stationary Equipment Co. Ltd.
- Gast Manufacturing, Inc.
- GENERAL ELECTRIC
- Ingersoll Rand Plc
- Kaeser Compressors
- MAT Industries, LLC
- AireTex Compressor
- Atlas Copco
- Bauer Group
- BelAire Compressors
- Cook Compression
- Compressor Products International
- ELGi Equipments Ltd.
- Sullair LLC
- Quincy Compressor
- Doosan Portable Power
- Hitachi Industrial Equipment Systems Co., Ltd.
- Gardner Denver, Inc.
- Chicago Pneumatic & Other Players
Air Compressor Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 24.64 Billion |
| Market Size by 2032 | USD 38.62 Billion |
| CAGR | CAGR of 4.97% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
Segmentation Analysis: Unveiling the Dominance of Stationary Air Compressors
By Type: The stationary segment was the leading market share holder in 2023, comprising more than 61.04%. Stationary air compressors are ideal for use in manufacturing plants, industrial environments, and auto repair shops. Furthermore, fixed air compressors are typically larger and more powerful than portable models, making them well-suited for heavy-duty.
By Product: The rotary/screw segment was the most dominant, holding a market share of more than 48.04% in 2023. Increasing number of customers are anticipated to be drawn to rotary/screw air compressors in the future due to their appealing features such as quiet operation, energy efficiency, reliable performance, easy maintenance, and continuous operation, resulting in a higher demand for these compressors.
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By Operating Mode: The electric segment held the majority of the market, representing more than 58.04% in 2023. Electric air compressors are recognized for their energy efficiency, which makes them versatile for various industries. Electric compressors usually have greater energy efficiency than gasoline or diesel compressors, resulting in cost savings in the long run.
Air Compressor Market Key Segmentation:
By Type
- Stationary
- Portable
By Product
- Reciprocating
- Rotary/Screw
- Centrifugal
By Application
- Healthcare & Medical
- Manufacturing
- Oil & Gas
- Home Appliances
- Food & Beverage
- Energy
- Semiconductor & Electronics
- Others
By Lubrication
- Oil Free
- Oil Filled
By Operating Mode
- Electric
- Internal Combustion Engine
By Power Range
- Up to 20 kW
- 21-50kW
- 51-250 kW
- 251-500 kW
- Over 500kW
Key Regional Development: Asia Pacific's Dominance and Europe's Sustainability Push in the Air Compressor Market.
In 2023, the Asia Pacific region held the majority of the market, with a share exceeding 42.4%. The dominance is attributed to the region's robust industrial foundation, particularly in China, because of its extensively varied industrial sector. The country is a leading global hub for manufacturing, particularly in electronics such as semiconductors, microchips, and other electronic components. The demand for precise manufacturing processes in Chinese industries has significantly boosted the market growth by relying on trustworthy air compressor solutions.
The European market to experience rapid growth throughout the forecast period. Europe's advancement is mainly fuelled by its focus on energy efficiency and sustainability, which align with stringent environmental laws. European nations are placing more importance on the utilization of energy-saving air compressors to help achieve climate change objectives and comply with environmental regulations. These factors are driving industries throughout Europe, such as manufacturing, construction, and energy sectors, to embrace more eco-friendly air compressor technologies.
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Future Growth of the Air Compressor Market
| Trend/Development | Description | Impact on the Market |
| Energy Efficiency | Increasing focus on reducing energy consumption and carbon emissions has led manufacturers to innovate. | Development of advanced, energy-efficient air compressors that align with sustainability goals. |
| Automation & Digitalization | Integration of smart technologies, such as IoT and AI, for real-time monitoring and predictive maintenance. | Enhances operational efficiency, reduces downtime, and lowers maintenance costs. |
| Growth in Construction & Manufacturing | Continued expansion in these sectors drives demand for portable and versatile air compressors. | Increased adoption of lightweight and compact models that meet operational needs. |
| Renewable Energy Projects | Rising demand for air compressors in renewable energy sectors, including wind and solar power. | Essential for powering pneumatic tools and equipment in installation and maintenance. |
| Regional Dynamics | Rapid industrialization in Asia Pacific, particularly in China and India; increased investments in North America and Europe. | Focal point for growth, with strong demand for sustainable technologies in developed regions. |
Recent Developments
- In 2024: Atlas Copco has launched the X-Air⁺ 1200-40 portable air compressor, aimed at various sectors like construction and mining. This model improves drilling performance by over 10% compared to previous versions, featuring enhanced pressure and speed.
Regional Coverage
• North America (US, Canada, Mexico)
• Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe])
• Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific)
• Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East])
• Africa [Nigeria, South Africa, Rest of Africa]
• Latin America (Brazil, Argentina, Colombia Rest of Latin America)
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Air Compressor Market Segmentation, By Type
8. Air Compressor Market Segmentation, By Product
9. Air Compressor Market Segmentation, By Application
10. Air Compressor Market Segmentation, By Lubrication
11. Air Compressor Market Segmentation, By Operating Mode
12. Air Compressor Market Segmentation, By Power Range
13. Regional Analysis
14. Company Profiles
15. Use Cases and Best Practices
16. Conclusion
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