Industrial Air Compressor Market Size Will Reach the Landmark of USD 43.75 Billion by 2030 as Stated by Strategic Market Research

New York, USA, Sept. 19, 2022 (GLOBE NEWSWIRE) -- The Global Industrial Air Compressor Market's value was USD 32.42 Billion in 2021 & will reach USD 43.75 Billion by 2030 with a 3.9% CAGR. An industrial-air compressor is referred to as a machine that transforms power into stored potential energy in the form of pressurized air using either an electric motor or diesel or gasoline-powered engine. Some pivotal factors expediting the market growth significantly are rise in the number of oil & gas, petrochemical, transportation, agricultural, and automotive industries worldwide, along with an increase in government funding for the technological advancements of the industrial compressors.

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Industrial Air Compressor Market Overview: 

• The Positive Displacement segment led the market growth with a 66.13% share for the Product Type sector. 
• The (51 to 250) kW segment of the Output Power section dominated with 48.15% of the market share.
• The Air-cooled segment of the Coolant section dominated with a share of over 57.12%.
• The Chemical and Petrochemical segment held the lion's share of 41.22% for the End-user section.
• In the Regional segment, Asia-Pacific comprehensively led the market with a 45.55% market share.  
  
  

Factors Expediting the Industrial Air Compressor Market Growth: 

• The demand for industrial air compressors is growing rapidly due to the advent of a huge number of chemical and petrochemical, agricultural, automotive, and transportation industries worldwide, thereby augmenting the market growth rate. Air-compressors have a plethora of applications in these industries. Ventilating silos and Spraying crops in agricultural facilities, pneumatic machinery in manufacturing processes, and laundry pressers in dry cleaners are just a few of the uses for industrial air compressors. They are also helpful for several applications in the oil and gas and food and beverage sectors, like packaging large bottles, fermentation of wine or beer, crude oil processing, etc. SMR's research studies have elucidated that almost 80% of the F&B industries worldwide use Rotatory-screw air compressors for packaging purposes. The USDA, or the (U.S. Department of Agriculture), reported that in 2021, the agricultural industry contributed around 1.035 trillion USD to the American GDP, which constituted around 5% of the total GDP share.
  
  
• Apart from growth in the number of industries, governments worldwide are investing a hefty sum of money in improvising the technological aspects of industrial air compressors, which, in turn, is facilitating the overall rate of market growth.
  
  

Industrial Air Compressor Market: A thorough Segmentation Analysis
The Worldwide industrial Air Compressor Market has been bifurcated adequately based on Product Type, Output Power, Coolant, End-User, & Geography. 

By Product-Type

• Positive Displacement
  • Rotary
    • Scroll
    • Screw
    • Others 
  • Reciprocating
• Dynamic Displacement
  • Axial
  • Centrifugal
    
    

By Output-power

• Above 500 kW
• Above 500 kW
• (51 to 250) kW
• Upto 50 kW

By Coolant

• Water Cooled
• Air Cooled

     By End-User

• Food, & Beverages
• Chemicals & Petrochemicals
• Pharmaceuticals
• Oil & Gas
• Transportation
• Automotive
• HVAC
• Construction
• Others
  
  

For Geography
North America

• Mexico
• Canada
• U.S.
• Rest North-America

Asia-Pacific 

• Japan
• New Zealand
• Australia
• India
• South Korea
• China
• Rest of-APAC
  
  

Europe Continent

• Finland
• Norway
• U.K.
• Russia
• Germany
• France
• Sweden
• Poland
• Italy
• The rest of Europe 

LAMEA

• Saudi Arab
• Brazil
• Kuwait
• Argentina 
• Qatar
• South Africa
• UAE
• Rest LAMEA

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The Positive Displacement segment led the market growth with a 66.13% share for the Product Type sector. Automotive & Transportation, Construction, packaging, metals and mining, food and beverage, as well as other industries, frequently use positive displacement air compressors. Positive displacement air compressor demand is expected to increase as a result of the rise in investments in these sectors, thereby expediting the market growth. SMR's research has figured out that the most commonly used Positive Displacement Compressor is the Reciprocating-Piston compressor, which is used by almost 70% of the industries worldwide.

The (51 to 250) kW segment of the Output Power section dominated with 48.15% of the market share. This particular range of power has been found as the ideal operating range for air compressors as this generates a perfect pressure range of (0.3 to 20) bars to operate. Air Compressors operating in this range are used widely in transportation, automotive, packaging, and manufacturing industries all over the world. 

The Air-cooled segment of the Coolant section dominated with a share of over 57.12%. The Air-cooled compressor inculcates several applications like power generation and the production of PET bottles. The majority of modern compressors are air-cooled, thereby using forced ventilation to cool the fluid using blowers, heat exchangers, and other devices. SMR's research revealed that in every industry worldwide, nearly 10% of all the industrial electricity supplies are consumed by the Air-cooled compressors itself, which means that each (100 to 110) hp air-cooled compressor consumes about 280k BTU/hr on full load.  

The Chemical and Petrochemical segment held the lion's share of 41.22% for the End-user section. With the increasing demand for chemical and petrochemical goods coming from emerging economies, the chemicals and petrochemicals category is anticipated to be the biggest user of industrial air compressors throughout the forecast period. Research data revealed that nearly 60% of all the applications of air compressors worldwide are performed in the chemical and petrochemical industries itself.

In the Regional segment, Asia-Pacific comprehensively led the market with a 45.55% market share. The rising investments in LNG, chemical, and mining projects are fuelling the expansion of the Asia Pacific air-compressor market as well as the expansion of the manufacturing sectors in countries like India and China. Statista has reported that last year, the manufacturing industries in China contributed around USD 4.1 trillion to the Chinese GDP, thereby accounting for almost 6.22% of the total GDP share of the country.

Players operating in Industrial Air Compressor Market:

• G.E. Oil & Gas
• Elliott Group
• General Electric 
• Hitachi 
• Howden Group 
• BelAire Compressors
• Atlas Copco AB
• Doosan Infracore
• Cook Compression
• Ingersoll-Rand PLC.
• Gardner Denver, Inc.
• Boge Kompressoren
• Mitsubishi 
• Kirloskar Pneumatics 
• Sulzer AG
  
  

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Recent Developments

• On August 25th, 2022, Elliot Group successfully launched its Gemini-Industrial Air-Compressor performance monitoring system to detect the efficacy range of its industrial-air compressors. The company announced that this next-generation compressor controlled, monitoring, & analysis system should result in optimum compressor operation with higher plant reliability and efficiency. It would also lead to better operational control, better machine diagnostics, and more functional review capabilities.
  
  

• On June 28th, 2022, Doosan Portable Power introduced its HP1600/VHP1400 portable industrial-air compressor as a solution for heavy-duty abrasive blasting activities. The company announced that this product would enable better maintenance, more adaptable performance, and more comfortable transportation. In comparison to its predecessor (previously used air compressor), the HP1600/VHP1400 is shorter by 5 feet. Two of these machines can fit on numerous travelling axle trailers because of their shorter length. Additionally, loading and unloading the trailer is made simpler by the large fork pockets located on either side of the axles.
  
  

• On May 25th, 2022, Mitsubishi invested a whooping sum of USD 113 million for setting up its Electric HVAC systems in its manufacturing industries located in Turkey. The company announced that through this highly advanced HVAC system, around 1,200,000 units of power would be generated, which would increase the need for installation of several industrial-air compressors with a range of around (100 to 110) hp. This, in turn, will expedite the organization's revenue growth in the Power sector.
  
  

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