Industrial Air Compressor Market Share

APAC Market Forecast

The industrial air compressor market in Asia Pacific is expected to be the largest, with a share of approximately 37% by the end of 2037. The growth of the market can be attributed majorly to the increasing investment in mining projects. The Indian government set up a District Mineral Foundation that encompassed 622 districts. As of 2022, the foundation has garnered an investment of USD 995 million for carrying out mining activities. On the other hand, the rapidly growing urbanization in the world is also expected to drive market growth in the region.

North American Market Statistics

The industrial air compressor market in North America is expected to be the second largest, with a share of around 26% by the end of 2037. The growth of the market can be attributed majorly to the growing demand for oil and gas. The EIA predicts that crude oil production in the United States is expected to rise by 720,000 barrels per day (bpd) in 2023, exceeding a previous prediction of 640,000 bpd. The oil and gas industry is one of the largest industries in North America, it utilizes air compressors for offshore drilling, extraction, and processing operations.