The air compressor is a tool to transform power into compressed air’s potential energy. Such power is transformed into potential energy using an electric motor, a diesel engine, or an internal combustion engine. There are several ways to compress the air, including pumping more air into the storage tank and raising the pressure. Pneumatic equipment like jackhammers, tire filling, the oxidation of petroleum coking, and bag house purge systems in cement plants can all be powered by compressed air.
The market value of air compressors in 2021 was USD 39.10 billion and will reach USD 51.59 billion by 2030 at a 3.74% CAGR.
As demand for air compressors has grown in the gas and oil sector, manufacturing industry, and other industries, the market will grow strongly in many countries worldwide.
The flourishing industrialization in many developing economies worldwide is a major factor contributing to market growth. The rise in the development of energy-efficient air compressing devices will boost the market growth. Furthermore, lower maintenance costs are likely to stimulate increased demand for air compressors across a variety of industrial sectors.
- Products like nail guns, spray painting equipment, pressure washers, and tire inflation tools are used more frequently at home. As a result, the market for air compressors utilized in the production of such machinery and gadgets will grow.
- The developing world is growing its rail networks for better connectivity and logistics. According to studies, Indian Railways has been making annual investments in the sector of around USD 18 billion, with the majority going toward the production of locomotives. Thus, the market for air compressors will expand further in developing countries with increased investments in the railway industry.
Due to their widespread use in the manufacturing industry, stationary air compressors held a market share of more than 50% in 2020. These compressors are also utilized in the gas and oil industry to power pneumatic machinery for the pipeline, oil extraction and refining, and other processes.
Owing to the increasing use of these products in mining and construction, the portable air compressor segment will expand at the highest CAGR.
The rotatory segment ruled the market with a maximum revenue share of 45.0% in 2021 due to its high output efficiency and durable construction. The segment is also growing due to numerous standards established by governments around the world to improve the output efficiency and energy optimization of the rotatory type. Additionally, the rotatory compressor’s countless advantages, including its longer lifespan and significant battery energy savings, increase its sales potential.
In 2021, the oil-filled category had the largest market share at 65.0%. This is because oil-filled compressors have a longer product life, operate quietly, tolerate harsh environmental conditions, produce more, and are more durable. These characteristics cause their widespread adoption in many applications in the manufacturing, chemical, and energy sectors.
The oil-free category will grow at a rapid CAGR of 5.1% between 2021 and 2030. This is mainly because these versions are lighter and more affordable than other varieties because they do not contain the oil separator element.
The segments include manufacturing, semiconductors and electronics, healthcare/medical, food and drink, household appliances, oil and gas, energy, and others. Mining, construction, and chemical industries are further applications.
The manufacturing segment maintained the largest market position in 2021, with 30.0% of the revenue share. It is due to the global development of highly advanced production facilities and strong manufacturing standards for atomization.
Asia Pacific was the regional market leader in 2021, with revenue of USD 9,911.4 million. The presence of numerous notable players in India and China and the robust industrial bases for the semiconductor sector in Taiwan and China are responsible for the largest market share. Other major factors influencing the growth of the regional market include the increasing adoption of atomization and automation in sectors including manufacturing, semiconductor & electronics, healthcare, food & beverage, home appliances, and oil & gas.
- Design Compressor Co., Ltd
- General Electric Company
- Atlas Copco AB
- Ciasons Industrial, Inc.
- Hitachi, Ltd.
- Kirloskar Pneumatic Co., Ltd.
- Kobe Steel, Ltd.
- Suzler, Ltd.
- Kaeser Compressors
- Kaishan Compressor, LLC
- Mitsubishi Heavy Industries, Ltd.
- VMAC Global Technology, Inc.