Air Compressor Market - By Type (Portable and Stationary), By Lubrication Method (Oiled and Oil-Free), By Technology (Reciprocating, Rotary, And Centrifugal), By Power Rating (0-100 Kw, 101-300 Kw, 301-500 Kw, And 501 Kw & Above), and By Industry (Food & Beverage, Oil & Gas, Manufacturing, Power Generation, Medical, and Others) - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Air Compressors Market held USD 22472.8 million in 2020 and is expected to grow with a CAGR of 5.1% from 2020-2030. Compressors are mainly used to convert electric energy into kinetic energy. The converted kinetic energy is further utilized in various applications such as the use of tools, machinery, and different equipment. Moreover, continuous production of compressed air is used in pneumatic systems, cooling systems such as refrigerators. Mainly there are three types of air compressors, reciprocating, rotary, and centrifugal. A reciprocating air compressor is simple in construction and other types are technologically more advanced hence they are preferred for the heavy-duty application. Centrifugal and rotary compressors provide high power and low noise and vibration. Reciprocating types consist of piston-cylinder arrangement in which reciprocating motion of piston compresses air and in case of rotary and centrifugal compressors, the air is pressurized by rotating component or element which compresses the air at high pressure. These compressors have wide and distinct applications. They are used in the HVAC system of a building, pneumatic tools such as a jackhammer, to fill the high-pressure air in tires of automobiles or vehicles, and others. These rotary compressors have a low maintenance cost, high efficiency, and simple in installation, all these factors make air compressors perfectly suitable for the industry.

Market Dynamics and Factors:

Growing industry in developing countries and increasing demand for efficient equipment is expected to drive the market. Rising innovation in technology is also increasing the demand of these compressors, growth in the processing industry such as chemical; energy generation, automation, and petroleum are projected to boost the demand of the market. Demand for the reciprocating compressors is also fuelling the market growth. However, the high cost for the installation of a compressor is a major restraint of this market. Growing industrialization will create ample opportunities during the forecast period.

Market Segmentation:

On the basis of type, the market is segmented into portable and stationary. Based on technology, the market is segmented into reciprocating, centrifugal, and rotary. Based on lubrication, the market is segmented into oiled and oil-free. On the basis of power rating, the market is segmented into 0-100 kW (kilowatt), 101-300 kW, 301-500 kW, and 501 kW & above. On the basis of industry, the market is segmented into food & beverage, oil & gas, manufacturing. And by region. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographic Analysis:

Asia Pacific is leading the market and expected to dominate during the forecast period. Due to growing industries, Asia has 55.10% of global air compressor market shares. Growing North America is also expected to grow with a significant CAGR. Owings to the large investment in the automotive sector and technological advancement are the factors responsible for the growth.

Competitive Scenario:

The electrophysiology market, is highly competitive across the globe, consists of a major players which include VMAC Global Technology Inc., Atlas Copco AB, Suzler Ltd.,Kobe Steel Ltd., Elgi Equipments Limited, Ingersoll-Rand PLC, Kirloskar Pneumatic Company Limited, Mitsubishi Heavy Industries Ltd., Ebara Corporations, Porter Cable.

In May 2016, Sullair LLC, introduced two updated Tier 4 final emissions compliant portable air compressors. Furthermore, these systems are enhanced by compactly designed, serviceable, and provide high range of pressure, allowing better flexibility on job locations. Most of the companies are also adopting other strategies, such as collaborations and M&A, to strengthen their position in the global market. For instance, Atlas Copco acquired a number of companies including Mobilaris MCE AB, Pressure Compressor, and Glauber Equipment.

Air Compressor Market Report Scope