Air Compressor market expected CAGR is 5.1% during (2020-2030)
Air compressor are the devices that utilize natural energy, by converting into potential source of energy in the form of compressed air.. Air compressors are used in process industries, which include oil and gas, waste management, chemicals, power generation, automotive, medical device and pharmaceuticals, and food and beverage. Manufacturers of air compressors are focusing on R&D activity to introduce enhanced designs in their products to address different requirements, withstand environmental conditions, and international standards .Compressed air is has it use in various industrial applications such as dental services, metal fabrication, powering of pneumatic tools, bottling and packing, spraying and painting, and cooling and freezing of food products.
Air Compressor market is poised to grow at 5.10% during the forecast period of (2020-2030)
The global air compressor market is expected to witness a CAGR of around 5.10% from 2020-2030 as per new report published by Decision Foresight.
According to the report, investments to improve overseas oil & gas pipeline network, growing demand for advanced and energy efficient air compressors, increase in adoption of oil free compressors owing to the stringent government regulations, and growing industrialization in emerging economies such as India, Saudi Arabia, South Africa, UAE, and Brazil are driving the growth of global air compressors market. However, high cost of installation and maintenance of equipment will limit the market growth.
Air compressor manufacturers are developing environment friendly and low-maintenance system to attract the end users to opt for the upgraded version of the product.
Industry leaders such as such as Ingersoll Rand, Inc. and Atlas Copco have introduced enhanced air compressors with high performance categories in order to gain competitive edge over the other players operating in this market. Ease of installation and service, reduced nose levels, and increased efficiency are the some of the advanced features of these products. Some of the recent launches of energy efficient air compressors include VSD Compressors (Feb 2019, Atlas Copco), ZR 90-160 VSD+(October 2018, Atlas Copco), RS200 and RS250 (April 2018, Ingersoll Rand Inc.). These air compressors have its applications in various industries such as food & beverage, electronics, automotive, textile, and pharmaceutical industries. These products enabled the company in expanding their existing product portfolio of reliable and heavy duty industries. Thus, availability of such technological advanced products will increase its adoption among the end users; thereby augmenting growth of the global air compressors market.
By type, portable compressors segment is expected to garner larger share as well as register highest growth rate during the forecast period. Portable air compressors have its application in construction and mining industry as they are reliable power source of tools and machine in for aforementioned industries. Ease of handling and low maintenance as are key factors driving the demand of these compressors.
On the hand, stationary air compressors are witnessing slow growth rate. Stationary air compressors have its application in manufacturing industries. In Oil & gas industry these compressors are used to run pneumatic equipment used for oil extraction and refining, pipeline transportation, and other processes. Thus, its special installation conditions involved in mounting of these systems are likely to hamper its growth to a certain extent.
Prominent players in the global air-compressor market include Atlas Copco AB, Kobe Stl Ltd, Elgi Equipment, Ingersoll-Rand LLC, Kirloskar Pneumatic Company, Mitsubishi Heavy Industries Ltd, Suzler Ltd., Ebara Coportaions, Porter Cable, VAMC Global Technology Inc, Campbell Hausfled, and Doosan Infracore Portable Power.
Market Segmentation
The research report categorizes the global air compressor market by type, technology, lubrication method, power rating, end user industry, and region.
By Type
- Portable
- Stationary
By Technology
- Reciprocating
- Rotary
- Centrifugal
By Lubrication Method
-
- Oiled
- Oil-free
By Power Rating
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- 0-100kW
- 101-300 kW
- 301-500kW
- 50l & more kW
By End User Industry
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- Food & Beverage
- Oil & Gas
- Manufacturing
- Medical Devices
- Power Generation
- Others
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Latin America
- Middle East
- Africa
Industries
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