The Global Air Compressors Market was valued at USD 21.55 billion in 2019 and is expected to reach USD 32.06 billion by 2030, expanding at a CAGR of 3.6% during the forecast period, from 2020 to 2030. In terms of volumes, the demand for air compressors was 10,181.5 thousand units in 2019, and is expected to reach 14,859.4 thousand units by 2030, expanding at a CAGR of 3.4% during the forecast period.
Air compressors assist in various operations including cleaning, cooling, dehydrating, pneumatic machineries, spray painting, tool powering, transportation of fluids, manufacturing of petrochemical products, medical equipment, and vacuum packaging among others. They can be operated at a high temperature and in locations that are susceptible to explosions and fire hazards, which restrict the use of other forms of energy.
Market Dynamics and Trends
The global air compressor market is observing lucrative growth owing to stringent regulatory standards regarding environment conservation, supportive government policies on energy conservation, mandatory standards imposed by FDA on food safety, as well as growing consumer awareness about product quality. Besides, product advantages such as higher dependability, low maintenance costs, eco-friendly features, easy handling, and high efficiency, are expected to propel the air compressors market growth in the coming future.
However, factors such as air pollution due to emission of greenhouse gases, stringent government regulations regarding noise pollution, as well as high cost of installations are expected to impede the air compressors market growth during the forecast period.
Market Segmentations and Scope of the Study:
The global air compressors market is segmented based on type, technology, lubrication method, power rating, end user industry, and geography. On the basis of compressor type, the market is bifurcated into portable and stationary. In terms of technology, the market is classified as reciprocating, rotary, and centrifugal. Based on lubrication, the market is segregated into oiled and oil-free. In terms of power rating, the market is categorized as 0-100 kW, 101-300 kW, 301-500 kW, and 501 kW and above. On the basis of end user industry, the market is segmented into food & beverage, oil & gas, manufacturing, medical, power generation, and others. Based on geography, the air compressors market is split into North America, Europe, Asia-Pacific, and Rest of the World (RoW).
North America dominates the global air compressors market due to high adoption of air compressors, presence of advanced technology, high disposable income, and growing demand of household appliances. The market in Asia-Pacific is expected to grow owing to increase in industrialization, urbanization, and wide applications of air compressors in various industries.
Major participants in the global air compressors market include Atlas Copco AB, Kobe Steel Ltd., Elgi Equipments Limited, Ingersoll-Rand PLC, Kirloskar Pneumatic Company Limited, Mitsubishi Heavy Industries Ltd., Suzler Ltd., Ebara Corporations, Porter Cable, and VMAC Global Technology Inc.
They engage in collaborations, mergers & acquisitions, product launches, and partnerships to increase their presence and market share. For instance, in April 2019, Sullair LLC., introduced its 260 Series portable lubricated rotary screw air compressors for Tier 3 markets.
In March 2020, Ingersoll Rand Industrial Plc finalized merge with the Gardner Denver Ltd. to become a leader in mission-critical flow creation and industrial technologies and strengthen the industrial technologies and services.
KEY MARKET SEGMENTS:
• Global Air Compressors market –
• Global Air Compressors market – By Technology
• Global Air Compressors market – By Lubrication Method
• Global Air Compressors market – By Power Rating
o 0-100 kW
o 101-300 kW
o 301-500 kW
o 501 kW & above
• Global Air Compressors market – By End User Industry
o Food & Beverage
o Oil & Gas
o Power Generation
• Global Air Compressors market –By Geography
o North America
Rest of Europe
Rest of Asia-Pacific
• Atlas Copco AB
• Kobe Steel Ltd
• Elgi Equipments Limited
• Ingersoll-Rand PLC
• Kirloskar Pneumatic Company Limited
• Mitsubishi Heavy Industries Ltd.
• Suzler Ltd.
• Ebara Corporations
• Porter Cable
• VMAC Global Technology Inc."
Frequently Asked Questions
- By product type
- By End User/Applications
- By Technology
- By Region