Growth Drivers
challanges
The CAGR of Air compressor market is expected to be 4% during the year 2018-2027. It is expected to achieve a market of around USD 26 Bn by 2027. Rapid industrialization especially in developing countries has significant emphasis on energy conversion which has led to advancements in compressed technology. Industrial air compressors are specially designed to compress extensive volume of air to high pressure and harness this air as a major potential energy source. Various applications of the end uses industrial air compressors are supply clean air to fill gas cylinders, drive pneumatic HVAC systems and drive Pneumatic tools.
The Asia-Pacific region is witnessing the rapid increase in sale of Air Compressors. The developing countries such as China and India are rapidly undergoing industrialization on the account of which the demand for air compressors is rapidly increasing. The countries are creating various investment opportunities for key market players to establish themselves.
The US air compressor market is likely to expand significantly owing to large base of automotive sector in the country. It is anticipated that automotive sales in the country will grow by 0.7%. It is currently the second largest market in the world. Huge investment in automobile sectors in North America is also a reason for the expansion of the market.
The Europe is the third largest market in this industry. The demand for the Reciprocating compressor is increasing amongst end user industries which are present in Europe (especially power generations and manufacturing companies) on the account of rapid industrialization in automotive industry. This is anticipated to foster the growth of the market of compressors in Europe. Germany is a major market in the Europe as the country has the significant number of companies in car manufacturing.
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
5.1% |
Base Year Market Size (2024) |
USD 25.98 billionn |
Forecast Year Market Size (2037) |
USD 49.6 billion |
Regional Scope |
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Author Credits: Richa Gupta
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