Air compressors are used to monitor and supply gas/air for several non-industrial and industrial applications. Also, air compressors are used in facilitating the process of transfer of gas in a number of industries across various verticals including food & beverages, automobiles, air blast circuits, pharmaceuticals, chemical plants, transport and oil extraction among others. Energy efficient air compressors are widely deployed across various industrial activities since they provide portability and mobility. Recently developed air compressors helps in reducing the maintenance costs and thus are in high demand among numerous buyers from diverse industry verticals. In oil free air compressors, air contamination is generally witnessed due to noisy operations owing to lack of lubrication which is a major concern in adopting air compressors. Moreover, with increasing innovations in technology and higher adoption of air compressors in construction activities, the market for air compressors is expected to witness surging demand in coming years.
Demand of advanced air compressing systems providing eco-friendly features and low maintenance is expected to encourage industrialists to shift from conventional air compressing equipment to modern ones. Moreover, increasing demand for oilfree air compressor systems to achieve increased capacity is a key factor fueling the growth of global air compressor market. Oil free air compressors ought to offer high efficiency and accuracy as well as easy maintenance and installation solutions. Air compressors are used to compress air to be deployed in oxidation of sour water, sweetening of gasoline, removal of sulfur and catalyst regeneration. Natural gas and crude oil production methods require air free from contamination which can be achieved by oil free air compressor systems. Countries in the Middle East and China are foreseeing increasing gas and oil production activities and are potentially sound regions for air compressor market. Also, various air compressor manufacturers are emphasizing on developing and designing advanced next generation air compressors providing variable speed drives. This development is expected to aid in the reduction of energy consumption by more than 35% as compared to fixed speed air compressors.
Increasing investments in improvisation of gas pipeline networks and cross border oil is a key factor fuelling the growth of global air compressor market. In addition, rapid industrialization in emerging economies such as India, China, Brazil, and Argentina coupled with rising demand for energy efficient advanced air compressors is another accelerating factor.
The global air compressor market can be segmented on the basis of product type, technology, lubrication type and region. By product type, the global air compressor market can be segmented into portable and stationery. By technology, the global air compressor market can be segmented into reciprocating, centrifugal and rotary. On the basis of lubrication type, the global air compressor market can be segmented into oil-free and oil lubricated. Geographically, the global air compressor market can be segmented into North America, Latin America, Europe, Middle East & Africa and Asia-Pacific.
Key players involved in the global air compressor market are focusing on various marketing strategies such as mergers, acquisitions and expansion. In addition, the players are concentrating on new product development as well as innovations in product. Some of the key manufacturers of air compressors include Mitsubishi Heavy Industries, Ingersoll Rand, Atlas Copco, Sullair, Sulzer Ltd., KPCL, Ebara Corp., Kobe Steel, Elgi Equipment Ltd. and VMAC.