Industrial Air Compressor Market Share, Competitive Landscape and Forecast 2023

Posted by Anvi on February 4th, 2020

Industrial Air Compressor Market Insight

Market Research Future reveals that the global industrial air compressor market is ready to expand at 5.63% CAGR during the forecast period 2016-2023. The industrial air compressor is gaining populace for the past five years due to rising industrialization, which is going to take the market on expansion at a rapid pace owing to factors prevailing in the energy and power sector.

Market Drivers & Trends

An air compressor device is known for energy efficiency and required easy maintenance, which has stood as one of the foremost reasons for the market’s growth. The device is known for converting power with the help of using diesel, or gasoline engine electric motor, and others into potential energy, which is stored in the form of pressurized air. Its abilities and efficiency have enabled the product to work according to the needs and demand of the industry.

At the same time, rising industrialization is also highly contributing to driving the market for air compressors. At present, the rising demand for energy-efficient compressors, increasing energy consumption, and expansion of liquefaction facilities globally has also been included in the list of factors in the study conducted by MRFR. The study also claims that around 70% of the manufacturers use compressed air in machine tools spray painting, material handling, and separation equipment due to safety and convenience, which is yet another critical factor behind the market’s growth.

On the flip side, factors such as stern government regulations related to noise pollution and emission of greenhouse gases could act like restraint the global industrial air compressor market. Yet, the advancements in compressor technology and concerns with energy savings is anticipated to bring rewarding business prospects to the global industrial air compressor market.

Market Segmentation

In the study conducted by MRFR, the industrial air compressor market has been segmented by the elements of type, seal, pressure, and end-use.

By type: Dynamic and positive displacement are the segments. Wherein, positive Displacement is assessed to occupy the largest share in support of rising demand for high output pressure compressors. 

By seal: Oil-lubricated and oil-free are the segments. Wherein, the oil-free segment is likely to lead the market as the compressors are lightweight, in-expensive, and produce maximum airflow and pressure.

By end-use: Oil & gas, chemicals & petrochemicals, manufacturing, and many more are the segments. Among these, the oil & gas segment is likely to lead the global Industrial Air Compressor Market Share owing to the rising investments for the construction of gas liquefaction plants in the regions of the Asia Pacific and North America.  

Regional Outlook

The industrial air compressor market, regionally, has been studied across the region of Asia Pacific, Europe, North America, the Middle East & Africa, and South America.

Of which, the Asia Pacific region is likely to occupy the largest share during the assessment period owing to the rising industrialization and expansion of regasification and liquefaction plants in the region. China is the foremost country for industrial air compressors as it initiated the development of re-gasification facilities in the country. Also, in the Asia-Pacific region, positive displacement can lead the industrial air compressor market.

The Middle East & Africa is also projecting to expand at the fastest rate throughout the growth period with the presence of a large number of reservoirs in this region. With this, the rising demand for air compressors in various manufacturing industries is also to promote the industrial air compressor market in these regions in the coming years.

Key Players

The vital players of global industrial air compressor market are listed as Kirloskar Pneumatics Co. Ltd. (India), Ingersoll-Rand plc (Ireland), Atlas Copco (Sweden), Hitachi Ltd (Japan), Howden Group Ltd. (UK), Gardner Denver (US), Danfoss  (Denmark), Sullair LLC (US), GE Oil & Gas (US), Sulzer AG (Switzerland), Kobe Steel Ltd. (Japan),  Elliott Group Ltd. (US), and Mitsubishi Heavy Industries, Ltd. (Japan).    

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