According to Our latest research report on “Air Compressor Market ” highlights the substantial global expansion occurring within this sector. The report encompasses projections for the years leading up to 2031, accompanied by a comprehensive analysis of the market’s current size, prevailing trends, market share, and economic insights.
The global air compressor market is expected to reach $26,850.35 million in 2023, from $19,798.56 million in 2016, growing at a CAGR of 4.47% from 2017 to 2023. An air compressor is a mechanical device utilized to harness the natural energy of air by converting it into a potential source of energy in the form of pressurized air. They are used in process industries, which include oil & gas, waste management, chemicals, power generation, automotive, mining, pharmaceuticals, food & beverages, and others. These devices play a significant role in enhancing the efficiency, safety, and profitability of these process industries.
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Furthermore, the manufacturers of air compressors are constantly engaged in R&D activities to deliver superior design in their products to address different requirements, environmental change, and international standards. Compressed air is used for varied applications such as dental services, metal fabrication, powering of pneumatic tools, bottling & packaging, spraying & painting, cooling & freezing of food products, and others. Based on these applications, air compressors are segregated into consumer grade, professional grade, and industrial grade.
Proliferation of energy-efficient and cost-effective products is expected to drive the market growth of air compressor market during the forecast period. In addition, high rate of adoption from end-user industries, rise in number of industrial infrastructure projects, and increase in investment across all the process industries, especially oil & gas industry, fuel the market. The demand for high energy and growth in population boost the growth of the market. Further, penetration of IoT, launch of initiatives such as Industry 4.0, and technological advancements related to new product development are expected to fuel growth of air compressor market during the forecast period.
Air contamination caused due to oil lubrication in oiled air compressors and noisy operations of oil-free compressors are major concerns that limit the adoption of air compressors. Growth of the construction industry presents as a major opportunity for market expansion.
The global air compressor market is segmented based on type, technology, lubrication method, power rating, end-user industry, and region. The type segment includes portable and stationary air compressors. By technology, it is classified as rotary, centrifugal, and reciprocating. Based on lubrication method, the market is bifurcated into oiled and oil-free air compressors. Oil-free air compressors, which supply non-contaminated air witness increased adoption in pharmaceuticals, food & beverages, and electronic assembling industries. Based on power rating, the market is segmented into 0-100 kW, 101-300 kW, 301-500 kW, and 501 kW & above. By end-user industry, it is divided into food & beverages, oil & gas, manufacturing, power generation, medical, and others. To gain a diverse insight, the market is analyzed across North America, Europe, Asia-Pacific, and rest of the world.
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KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the global optical coatings equipment market and current & future trends to elucidate the imminent investment pockets.
Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided.
Porter’s Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the global market from 2016 to 2023 is provided to determine the market potential.
Key Market Players
Atlas Copco AB
Kobe Steel Ltd.
Elgi Equipments Limited
Ingersoll-Rand PLC
Kirloskar Pneumatic Company Limited
Mitsubishi Heavy Industries Ltd.
Suzler Ltd.
Ebara Corporations
Porter Cable
VMAC Global Technology Inc.
Campbell Hausfled
Doosan Infracore Portable Power
KEY MARKET SEGMENTS
By Type
Portable
Stationary
By Technology
Reciprocating
Rotary
Centrifugal
By Lubrication Method
Oiled
Oil-free
By Power Rating
0-100 kW
101-300 kW
301-500 kW
501 kW & above
By End-User Industry
Food & Beverage
Oil & Gas
Manufacturing
Medical
Power Generation
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
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Table of Contents:
- Introduction and Scope
- Definition and Forecast Parameters
- Methodology and Forecast Parameters
- Information Sources
- Latest Trends Summary
- Regional Trends
- Product Trends
- End-Use Trends
- Business Trends
- Industry Insights
- Industry Fragmentation
- Industry Landscape
- Vendor Matrix
- Technological and Innovative Landscape
- Market by Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
- Company Profiles
- Company Overview
- Financial Elements
- Product Landscape
- SWOT Analysis
- Systematic Outlook
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Questions & Answers Market Research/Analysis Report Contains to your following:
- What is the current size of the market and how is it expected to grow in the future?
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