Air Compressor Market Trends

  • Report ID: 1192
  • Published Date: Oct 22, 2024
  • Report Format: PDF, PPT

Air Compressor Market Trends

Growth Drivers

  • Increasing industrial automation and advanced production methods- Automation and advanced production methods require compressed air for various operations, including power tools, vacuum pumps, air conditioning, and ventilation. This will drive the growth of the air compressor market as they are a crucial component in these processes. Automation is said to rise global productivity by 0.8% to 1.4% annually.
  • Increasing adoption of industrial and commercial sectors- like manufacturing, construction, mining, oil and gas, and more: As the global industrial and commercial sectors expand, the demand for air compressors for various applications will grow.
  • Growing focus on sustainable energy solutions- As the global focus on reducing greenhouse gas emissions and promoting sustainable energy solutions increases, air compressors have also gained momentum as a renewable source of energy, as they can produce compressed air using power generated through renewable sources like wind, solar, etc.
  • Increasing demand from developing regions- The air compressor market is expected to see significant growth in emerging economies, where the industrial and construction sectors are witnessing rapid development. The increasing industrial and commercial activity in these regions is expected to drive the demand for air compressors.
  • Growing technological advancements- The air compressor market is also expected to undergo rapid technological advancements, as advancements in automation, robotics, and other fields will translate to the development of advanced air compressors with improved efficiency and performance.
  • Rising environmental concerns- The growing awareness about the negative environmental impact of air pollution, greenhouse gas emissions, and other pollutants, will drive the demand for air compressors that are energy efficient and have low emissions.
  • Increasing adoption of green building practices- The growing popularity of green building practices, along with the rising focus on sustainability, will also drive the market for air compressors as they can produce compressed air using renewable sources of energy.

challanges

  • Increased maintenance costs and downtime- Poor maintenance practices and low maintenance can lead to increased air compressor replacement costs and more downtime for the equipment.
  • Increased electricity costs- Poor compression efficiency and poor maintenance can lead to increased electricity costs associated with air compressor operation.
  • Environmental regulations- Air compressor emissions are subject to increasing regulations around the world, as air compression can often lead to air pollutants. Proper maintenance can help reduce emissions and comply with governmental regulations.

Air Compressor Market: Key Insights

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.

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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

  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • North America (U.S., and Canada)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:


Author Credits:  Richa Gupta


  • Report ID: 1192
  • Published Date: Oct 22, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of air compressor is estimated at USD 27.04 billion.

Air Compressor Market size was valued at USD 25.98 billion in 2024 and is set to exceed USD 49.6 billion by the end of 2037, registering over 5.1% CAGR during the forecast period i.e., between 2025-2037. The increasing of industrial automation and advanced production methods and growing technological investment in air compressors will drive the market growth.

Asia Pacific industry is predicted to hold largest revenue share by 2037, impelled by ever-growing automotive sector in the region.

The major players in the market are Atlas Copco AB, Sulzer Ltd., Ingersoll Rand, Campbell Hausfeld, Doosan Infracore Portable Power, EBARA CORPORATION, Mitsubishi Heavy Industries Ltd., and others.
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