The Global Air Compressor Market Size collected USD 33.2 Billion in 2022 and is set to achieve a market size of USD 48.6 Billion in 2032 growing at a CAGR of 4.0% from 2023 to 2032.
Air Compressor Market Report Statistics
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.
Global Air Compressor Market Dynamics
Air Compressor Market Report Coverage
|Market||Air Compressor Market|
|Air Compressor Market Size 2022||USD 33.2 Billion|
|Air Compressor Market Forecast 2032||USD 48.6 Billion|
|Air Compressor Market CAGR During 2023 - 2032||4.0%|
|Air Compressor Market Analysis Period||2020 - 2032|
|Air Compressor Market Base Year||2022|
|Air Compressor Market Forecast Data||2023 - 2032|
|Segments Covered||By Type, By Product, By Lubrication, By Application, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Atlas Copco, BelAire Compressors, Bauer Group, Galaxy Auto Stationary Equipment Co. Ltd., AireTex Compressor, Ingersoll Rand Plc, Compressor Products International (CPI), GENERAL ELECTRIC, Kaeser Compressors, and Sullair LLC.
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Covid-19 Analysis, Regulation Analysis|
Air Compressor Market Growth Factors
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.
Air Compressor Market Segmentation
The worldwide air compressor market is categorized based on type, product, lubrication, application, and geography.
Air Compressor Market By Type
According to the air compressor market forecast, stationary air compressors are commonly used in large-scale industrial applications such as manufacturing and energy, where a constant and reliable source of compressed air is required. They are also suitable for high-volume compressed air applications such as sandblasting, spray painting, and pneumatic drilling. Portable air compressors, on the other hand, are widely used in applications that require mobility and convenience, such as construction sites, agriculture, and automotive repair. They are also appropriate for home improvement projects and small workshops. While portable air compressors are becoming more popular due to their portability and versatility, stationary air compressors continue to dominate the market due to their high capacity, efficiency, and dependability.
Air Compressor Market By Product
Rotary/screw air compressors are the most extensively used and dominant product in the air compressor market in terms of market dominance. This is because of their high efficiency, dependability, and simplicity of maintenance. Rotary/screw air compressors can supply a constant and reliable supply of compressed air, which makes them ideal for large-scale industrial applications that require a constant and reliable source of compressed air. Reciprocating/piston air compressors are also popular on the market, especially in smaller applications requiring lower compressed air volumes. Because they are less expensive and more portable than rotary/screw air compressors, they are a popular choice for home DIY projects, small workshops, and small industrial applications. Centrifugal air compressors are commonly found in larger industrial applications such as power generation, petrochemical processing, and gas processing. They are high-capacity compressors that can deliver large volumes of compressed air and are designed for continuous operation.
Air Compressor Market By Lubrication
In many applications, oil-free air compressors are preferred over oil-filled compressors because they do not produce oil-contaminated compressed air. This is especially important in industries where clean, oil-free air is required to maintain product quality and prevent contamination, such as food and beverage, pharmaceuticals, and electronics. Oil-free air compressors also require less upkeep than oil-filled compressors, which can be beneficial in industries where downtime is expensive. Furthermore, oil-free compressors are generally quieter and use less energy than oil-filled compressors. Oil-filled air compressors, on the other hand, are still widely used in many industrial applications such as construction, automotive, and manufacturing, where clean air is not a critical requirement and a higher level of lubrication is required to maintain optimal performance and prevent wear and tear.
Air Compressor Market By Application
According to air compressor industry analysis, the manufacturing industry has the largest market share in the air compressor market. Manufacturing processes frequently necessitate a consistent and dependable supply of compressed air to power equipment and tools like pneumatic tools, spray guns, and assembly lines. Furthermore, manufacturing processes frequently necessitate large volumes of compressed air, making air compressors an important piece of manufacturing operations. Another important market for air compressors is the semiconductor and electronics industry. Clean and dry compressed air is required for the production of electronic components, which is critical for maintaining product quality and preventing contamination. Air compressors are also popular in the food and beverage industries. Compressed air is used in the production and packaging of food and beverage products for a variety of applications, including powering pneumatic conveyors, packaging machines, and spray drying equipment.
Air Compressor Market Regional Outlook
The Middle East & Africa
Air Compressor Market Regional Analysis
The manufacturing industry, which contributes significantly to the region's economy, drives the North American air compressor market. Because of the country's well-established industrial sector, which includes the automotive, aerospace, and food and beverage industries, the United States is the largest market for air compressors in North America.
The expansion of the automotive, construction, and manufacturing industries is driving the European air compressor market. The major European markets for air compressors are Germany, the United Kingdom, and France.
The Asia-Pacific air compressor market is expected to grow rapidly due to the region's expanding manufacturing, automotive, and construction industries. China, India, and Japan are the Asia-Pacific region's largest air compressor markets.
Air Compressor Market Players
Some of the key players in the global air compressor market include Atlas Copco, BelAire Compressors, Bauer Group, Galaxy Auto Stationary Equipment Co. Ltd., AireTex Compressor, Ingersoll Rand Plc, Compressor Products International (CPI), GENERAL ELECTRIC, Kaeser Compressors, and Sullair LLC.
The market size of air compressor was USD 33.2 Billion in 2022.
The CAGR of air compressor market is 4.0% during the analysis period of 2023 to 2032.
The key players operating in the global market are Atlas Copco, BelAire Compressors, Bauer Group, Galaxy Auto Stationary Equipment Co. Ltd., AireTex Compressor, Ingersoll Rand Plc, Compressor Products International (CPI), GENERAL ELECTRIC, Kaeser Compressors, and Sullair LLC.
Asia-Pacific held the dominating position in air compressor market during the analysis period of 2023 to 2032.
North America region exhibited fastest growing CAGR for air compressor market during the analysis period of 2023 to 2032.
The current trends and dynamics in the air compressor industry include increasing demand from end-use industries, growing awareness of the benefits of compressed air, and eising disposable income.
The stationary air compressor type held the maximum share of the air compressor market.