Air Compressor Market is anticipated to rise at a CAGR of 4.07% from 2020 to 203

Posted by omkar on October 25th, 2019

The Air Compressor market was valued at ,475.9 Million in 2019, and is projected to reach ,701.2 Million by 2027 growing at a CAGR of 4.07% from 2020 to 2027.

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Air compressors are the device that is capable of converting power into potential energy stored in pressurized air. The energy stored in the form of compressed air accounts to numerous industrial applications, which utilizes the kinetic energy of the air as it is released. According to the need of pressure delivered the air compressors can be classified into low pressure air compressors, medium pressure air compressor, and hi medium pressure compressor. Also on the basis of design and principal for operation these compressors can be divided into single stage reciprocating compressor, two stage reciprocating compressor, compound compressor, rotary screw compressors, and others.

Market trends

The most common methods of converting power into kinetic energy, produced by an air compressor, are based on positive displacement technologies and negative displacement technologies. This pressurized air can be used as a power pneumatic tools, cutting and welding purposes, freezing and cooling, packaging and other such industrial applications. Thus, increasing industrialization and advancement in technology across the globe are the prime reason responsible for the growth of global air compressor market.

Market drivers

The Global air compressor market is majorly driven by the increasing energy consumption across industries, accessibility of energy efficient compressors, and numerous industrial applications. The air compressors focuses on completing the task with the conservation of energy, thereby, reducing the electricity bill. This further results in decreasing the overall expenditure of open industry. As compared to the electric or hydraulic source of energy, air compressor consumes low maintenance cost and can be implemented in oil and gas industry, food and beverage industry, chemical industries and others, resulting in propelling the growth of the market. However, the increasing prevalence of noise and air pollution may hamper the market growth.

Market scope

The air compressor market is segmented on the type, technology, lubrication method, power rating, end user industry, and region. By type the market is segmented into portable and stationary. The Technology segment includes regenerated reciprocating, rotary, and centrifugal. Lubrication Method segment is divided into oil-free and oiled. On the basis of power rating, this market is fragmented into 0-100 Kw, 101–300 kW, 301–500 kW, and 501 kW & above. On the basis of end user segment the market is segmented into food & beverage, oil & gas, manufacturing, medical, power generation, and others. Geographic breakdown and deep analysis of each of the aforementioned segments is included for North America, Europe, Asia-Pacific, and ROW.

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The global air compressor market is also expected to grow at a fast pace during the forecast period, owing to the increasing investment, by the key players of the market, on cleaner and renewable power generation methods. The key development of this market accounts to the acquisition of Mobilaris MCE AB, Glauber Equipment, Pressure Compressores and others in part or whole, by Atlas Copco, in January 2018.  The companies also focus on mergers and acquisition to improve their market shares. However, the focus on the development and launch of new products or services is one of the widely accepted business strategy adopted by the key players of the market.