The Global Air Compressor Market is expected to reach $26,850.35 million in 2023, from $19,798.56 million in 2016, growing at a CAGR of 4.47% from 2017 to 2023. The air compressors use kinetic energy possessed by the compressed air to provide the required energy to various equipment, tools, and machineries across different industry verticals. Moreover, the continuous compression provides assistance in transportation of fluids & gases, production of petrochemical related products, operation of pneumatically based machineries, and cooling applications. As a result, the air compressors have large scope of application in different end-users for dehydration, vacuum packaging, air blowing, spray painting, tool powering, cleaning, and medical equipment.
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Technological advancement in air compression techniques has profound influence over the compression capabilities of the equipment and subsequently is expected to drive the growth of air compressor market during the forecast period. Moreover, the rise in adoption of robust and energy efficient equipment is also expected to fuel the demand for air compressors in the industry. In addition, the equipment require application of sophisticated technology with high technical expertise for designing high power rated and efficient air compression equipment. Consequently, the high cost of installation and maintenance for the equipment is expected to hinder the market growth of air compressor market in the coming years. However, the increase in production activities from Asia-Pacific and LAMEA are expected to provide profitable business opportunities to the manufacturers during the forecast period.
The key players operating in the global market are Atlas Copco AB, Kobe Steel Ltd., Elgi Equipments Limited, Ingersoll-Rand PLC, Kirloskar Pneumatic Company Limited, Mitsubishi Heavy Industries Ltd., Suzler Ltd., Ebara Corporations, Porter Cable, and VMAC Global Technology Inc.
The air compressor market is segmented based on type, technology, lubrication method, power rating, end-user industry, and region. By type, the market is bifurcated into portable and stationary. Based on technology, it is classified into reciprocating, rotary, and centrifugal. According to lubrication method, it is divided into oiled and oil-free air compressors. By power rating, the market is categorized into 0-100 kW, 101-300 kW, 301-500 kW, and 501 kW & above rated air compressors. Moreover, based on end-user industry the market is segmented into food & beverage, oil & gas, manufacturing, power generation, medical, and others. Based on region, it is analyzed across North America, Asia-Pacific, Europe, and LAMEA.
The air compressors based on reciprocating technology owing to simpler construction have significant market share in the past years. However, technologically superior air compressors such as centrifugal and rotary are preferred for heavy duty industrial applications. Thus, the centrifugal and rotary-based air compressors deliver high power rated air compressors with significantly reduced noise and vibrations. These are available in oil-free designs, as well.
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the global air compressor market along with the current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analysis on the market is provided.
- Porter’s Five Forces analysis illustrates the potency of buyers & suppliers operating in the industry.
- The quantitative analysis of the market from 2017 to 2023 is provided to determine the market potential…
Report highlights:
Detailed overview of parent market
Changing market dynamics of the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth
A neutral perspective towards market performance
Must-have information for market players to sustain and enhance their market footprint.
Why you should buy
The report will enhance your decision-making ability by allowing you to
-Develop business strategies by understanding the trends and developments driving the global Air Compressor market.
-Design and improve your product development, marketing, and sales strategies.
-Exploit merger and acquisition possibilities by identifying the market players with the most innovative pipelines.
-Develop market-entry and market-expansion strategies.
-Identify the key players best positioned to take advantage of the emerging market opportunities.
-Exploit in-licensing and out-licensing opportunities by identifying the products most likely to ensure a robust return.
-Identify, understand and capitalize on emerging blockbusters of the Air Compressor market landscape.
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