Industrial air compressors are versatile tools that provide compressed air for various industrial uses. When choosing an air compressor for a particular use, be sure the unit can provide the desired effects while requiring little upkeep and running costs. A number of factors, such as the application’s intended use, the tools or processes it will support, and the project’s budget, help identify the best air compressor for a given application.
In 2021, the market for industrial air compressors was USD 32.42 billion, and by 2030, it will reach USD 43.75 billion, growing at a 3.9% CAGR during the forecast period.
Rapid industrialization and expanding automation in emerging nations, the influx of investments, the rising need for oil-free compressors in the food & beverage industry, and increased demand from the HVAC industry, are the main market drivers for industrial air compressors.
Market Dynamics
Air compressors are used increasingly frequently in significant end-use industries because of their adaptability to existing systems, low maintenance costs, and variable speed control. The increased demand for energy-efficient compressors is due to their more cost-effective operation.
Growing concerns about air quality have also been prompted by the development of gas compressor stations. The effectiveness of air and gas compressors is frequently evaluated through the use of air monitoring devices. The industry’s ongoing investments and activities that are not based on oil are also increasing the demand for air compressors. Top manufacturers are creating eco-friendly and low-maintenance systems for customers to accept new products.
Many companies, like Ingersoll Rand Plc and Atlas Copco Inc., have created high-performance next-generation systems to differentiate their products from other competitors. For instance, contemporary air compressors operate more efficiently and with less noise. Modern compressors with advanced cost-saving strategies have thus seen great growth in numerous application areas.
Restraints
The high maintenance costs and tightening governmental regulations on noise pollution and greenhouse gas emissions will constrain the market.
Opportunity
A greater focus on energy efficiency, energy recovery, and CO2 emissions will drive the market. Throughout the forecast period, a significant increase in revenue is anticipated due to the growing demand for monitoring compressed air systems. Additionally, strict food safety and health laws will fuel air compressor demand in the food and beverage industry.
Market Segmentation
By Type
On the basis of product, the stationary air compressors segment led the entire market with a revenue share of 55% in 2021. These compressors are also commonly found in the oil and gas industry and are used to power pneumatic machines such as pipelines, oil extraction, and purification equipment.
The portable air compressor segment will expand at the highest CAGR due to these products increased use in mining and construction. Portable air compressors are dependable power sources for tools and machinery in a variety of sectors, including construction. These compressors’ ease of use and minimal maintenance requirements have also increased their appeal in low-duty applications.
By Technology
The positive displacement segment was the largest market contributor with a significant revenue share. The growing desire for air and gas compression in various industries fuels the demand for positive displacement air compressors. Significant investments are being made around the globe to improve oil and gas transportation networks, with rapid industrialization in emerging economies and high demand for processed food expected to be driving factors. Manufacturing, chemicals and petrochemicals, electricity generation, pharmaceuticals, pulp and paper, and food and beverage will drive up demand for these air compressors. During the forecast period, the rotary segment will lead the Positive Displacement market.
By Application
Due to the rising demand for chemical and petrochemical products in developing economies in 2021, the chemicals and petrochemicals segment ruled the entire market.
The food and beverage industry is another dominant segment that drives the demand for industrial air compressors because they require high-powered and high-efficiency air compressors. The market is driven by increased investment and demand for oil-free compressors in the food and beverage sector and increased demand from the HVAC industry.
Regional Analysis
Asia Pacific led the entire regional market in 2021 with a revenue share of nearly 30% due to rising government investments in the development of infrastructure and rapid industrialization. Air compressors are used in different applications that support industrial growth, including those in the food and beverage, manufacturing, household appliance, and oil and gas industries. Several electronics & semiconductor manufacturing industries in China and Taiwan and several compressor makers in India & China will drive the market.
North America and Europe will experience steady growth. However, rising investments in Eastern Europe will accelerate the development of industrial air compressors. Furthermore, the market will expand due to customers’ growing preference for low-energy and easy-to-use items.
Key Players
- Howden Group Ltd.
- BelAire Compressors
- GE Oil & Gas
- Elliott Group Ltd.
- Hitachi Ltd.
- Doosan Infracore Co. Ltd.
- Atlas Copco AB
- Kirloskar Pneumatics Co. Ltd.
- Man SE
- Cook Compression
- Gardner Denver, Inc.
- Mitsubishi Heavy Industries, Ltd.
- Ingersoll-Rand PLC.
- Boge Kompressoren
- General Electric
- Sulzer AG
In 2021, the market for industrial air compressors was USD 32.42 billion, and by 2030 it will reach USD 43.75 billion, growing at a 3.9% CAGR during the forecast period. The global industrial air compressor market is driven by extensive urbanization and rising industrial automation.
