Pune, India, Nov. 30, 2023 (GLOBE NEWSWIRE) -- The global air compressor market size was valued at USD 16.51 billion in 2022 and is projected to reach USD 25.60 billion by 2030. The global market is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.8% over the forecast period 2023-2030. Fortune Business Insights™ provides this information in its research report, titled “Air Compressor Market, 2023-2030”
Market Drivers and Restraints:
Market Share to Rise Due to Increasing Usage of Industry 4.0 Technologies
The air compressor market growth is being driven by the increasing adoption of Industry 4.0 technologies. Cloud, Industrial Internet of Things, and Big Data technologies are being deployed for solving complex issues and the enhancement of operations.
However, the industry expansion could be hampered on account of high energy losses and high maintenance costs.
Market Opportunities:
The global opportunities in the Air Compressor Market stem from the growing demand for energy-efficient solutions, expanding industrialization, and technological advancements. Adoption of oil-free compressors, emphasis on sustainable practices, and increasing applications in healthcare and manufacturing sectors present avenues for market players. Strategic partnerships, product innovation, and catering to emerging markets can further drive growth and market leadership.
Market Challenges:
The challenges in the Air Compressor Market include fluctuating raw material prices affecting manufacturing costs, energy efficiency concerns, and market saturation in developed regions. Economic uncertainties, stringent environmental regulations, and the need for continuous innovation pose obstacles. Overcoming these challenges requires strategic cost management, sustainable practices, and a focus on technological advancements to stay competitive in the dynamic and evolving air compressor market.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 5.8 % |
| 2030 Value Projection | USD 25.60 billion |
| Base Year | 2022 |
| Air Compressor Machines Market Share in 2022 | USD 16.51 billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 178 |
| Segments covered | By Mode of Operation, Product Type, Lubrication, Application, and Region |
| Air Compressor Machines Market Growth Drivers | Exponential Use of Commercial Air Compressors in Energy & Power Generation to Lead the Market Growth |
| Rising Use of Smart Efficient Rotary Compressors to Reduce Maintenance Cost to Propel Industry Growth |
Report Coverage:
The report delves into the major trends set to propel the industry scenario across various regions. It further provides an account of the significant steps taken by major market participants for the consolidation of their industry position. These insights have been furnished after extensive data collation and research.
Key Industry Development:
December 2022 – Atlas Copco agreed on the acquisition of CVS Engineering GmbH. The deal was focused on the usage of mobile on tanker trucks.
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List of Key Players Mentioned in the Report:
- ELGi Equipments Limited (India)
- Atlas Copco AB (Sweden)
- Sulzer Ltd. (Switzerland)
- Hitachi Ltd. (Japan)
- Ingersoll Rand (U.S.)
- Campbell Hausfeld (U.S.)
- Mitsubishi Heavy Industries Ltd. (Japan)
- Doosan Infracore Portable Power (South Korea)
- Siemens AG (Germany)
- EBARA CORPORATION (Japan)
Segments:
Rotary Compressors to Register Substantial Growth Driven by Reduced Maintenance Costs
On the basis of mode of operation, the market is fragmented into rotary, centrifugal, and reciprocating. Of these, rotary compressors are expected to record commendable expansion over the estimated period. The rise is being driven by their reliability and advanced operational capabilities.
Stationary Compressors to Record Appreciable Expansion Owing to Rising Product Demand
Based on product type, the market is segmented into portable and stationary. The stationary segment is poised to register lucrative growth throughout the forecast period. The surge can be attributed to the increasing product demand for the development of in-house facilities.
Oil Filled Segment to Gain Traction due to Growing Usage in Heavy-Duty Applications
On the basis of lubrication, the market is segregated into oil free and oil filled. The oil-filled segment is slated to exhibit a CAGR of 6% over the projected period. The upsurge is on account of growing product adoption to avoid issues of high maintenance.
Energy & Power Segment to Register Commendable Growth Over the Forecast Period
On the basis of application, the market is subdivided into manufacturing, electronics & semiconductor, oil & gas, healthcare, food & beverages, energy & power, and others (aerospace). The energy & power segment is poised to record considerable growth throughout the projected period. The surge can be attributed to the growing product usage in areas such as air blowers and gas turbines.
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Regional Insights:
Asia Pacific to Emerge Prominent Due to Rising Demand from Dominant Countries
The Asia Pacific air compressor market share is anticipated to record a notable surge throughout the forecast period. The surge can be attributed to the increasing demand for smart compressors from various countries such as India, Japan, and China.
The North America market is estimated to register substantial growth over the estimated period. The rise is being driven by the growing demand for cost-effective and energy-efficient air compressors.
Competitive Landscape:
Major Players Enter into Partnership Agreements to Enhance Product Penetration
Leading air compressor companies are focused on the adoption of various strategies to strengthen their market position. These include product developments, acquisitions, mergers, and others. Some of the other steps comprise rising participation in trade conferences and increase in research activities.
Major Table of Contents:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Air Compressor Market Key Players Market Share/Ranking, 2022
- Global Air Compressor Market Size Estimates and Forecasts, By Segments, 2023-2030
- Key Findings
- By Mode of Operation (USD)
- Rotary
- Centrifugal
- Reciprocating
- By Product Type (USD)
- Stationary
- Portable
- By Lubrication (USD)
- Oil Filled
- Oil Free
- By Application (USD)
- Manufacturing
- Oil and Gas
- Energy and Power
- Electronics and Semiconductor
- Healthcare
- Food and Beverages
- Others
- By Country (USD)
- North America
- South America
- Europe
- The Middle East & Africa
- Asia Pacific
- North America Air Compressor Market Size Estimates and Forecasts, By Segments, 2023-2030
- Key Findings
- By Mode of Operation (USD)
- Rotary
- Centrifugal
- Reciprocating
- By Product Type (USD)
- Stationary
- Portable
- By Lubrication (USD)
- Oil Filled
- Oil Free
- By Application (USD)
- Manufacturing
- Oil and Gas
- Energy and Power
- Electronics and Semiconductor
- Healthcare
- Food and Beverages
- Others
- By Country (USD)
- United States
- By Mode of Operation (USD)
- Rotary
- Centrifugal
- Reciprocating
- By Mode of Operation (USD)
- Canada
- By Mode of Operation (USD)
- Rotary
- Centrifugal
- Reciprocating
- By Mode of Operation (USD)
- United States
- South America Air Compressor Market Size Estimates and Forecasts, By Segments, 2023-2030
- Key Findings
- By Mode of Operation (USD)
- Rotary
- Centrifugal
- Reciprocating
- By Product Type (USD)
- Stationary
- Portable
- By Lubrication (USD)
- Oil Filled
- Oil Free
- By Application (USD)
- Manufacturing
- Oil and Gas
- Energy and Power
- Electronics and Semiconductor
- Healthcare
- Food and Beverages
- Others
- By Country (USD)
- Brazil
- By Mode of Operation (USD)
- Rotary
- Centrifugal
- Reciprocating
- By Mode of Operation (USD)
- Argentina
- By Mode of Operation (USD)
- Rotary
- Centrifugal
- Reciprocating
- By Mode of Operation (USD)
- Colombia
- By Mode of Operation (USD)
- Rotary
- Centrifugal
- Reciprocating
- By Mode of Operation (USD)
- Rest of Latin America
- Brazil
- The Middle East & Africa Air Compressor Market Size Estimates and Forecasts, By Segments, 2023-2030
To be Continue…
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