A mechanical device use to compress air to increase its pressure is called an industrial air compressor. This compress air is employ in several processes, including the operation of riveters, pneumatic drills, road drills, and the supercharging and beginning of IC engines. Additionally, lifts, rams, and compressors use it. Compressed air is use in manufacturing to power Bessemer converters and furnaces that produce airbursts. Industrial air compressors come in two different varieties: reciprocating air compressors and rotating air compressors.
In 2021, the market for industrial air compressors was worth
USD 32.42 billion, and by 2030, it will reach USD 43.75 billion at a 3.9% CAGR during the forecast period.
The Industrial Air Compressors Market is expanding as a result of rising industrialization and automation in emerging countries. Growing oil exploration and mining operations, increasing vehicle demand, and advancements in the power and energy production industry will contribute to the growth of the Industrial Air Compressors Market.
Market Dynamics
Drivers
Air compressors are use more frequently in significant end-use industries due to their adaptability to existing systems, cheap maintenance costs, and variable speed control. The increased demand for energy-efficient compressors is due to their more cost-effective functioning.
Growing concerns about air pollution have also been prompt by the rise in gas compressor stations. The effectiveness of air and gas compressors is frequently evaluate through the use of air-tracking devices. The industry’s ongoing investments and initiatives that are not dependent on oil are also increasing the demand for air compressors. For customers to adopt new goods, top manufacturers are creating eco-friendly and low-maintenance systems.
Restraints
New industrial emission standards for air compressors have been introduce in several nations, including the U.S., Canada, the UK, and other European nations, to reduce the discharge of contaminants and improve air quality. Due to the implementation of these new and updated emission standards, manufacturers globally should make significant changes and modifications to the design and functionality of this equipment. Additionally, because compressed air plays a crucial role in increasing productivity and influences overall production costs, it is a serious worry for many industries, including those in the healthcare, food and beverage, chemical, and pharmaceutical sectors.
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, where they are use to power pneumatic machines such as pipelines and 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. This is due to the rising demand for air and gas compression in various industries, which 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 process food expect 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 being drive 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 government investments in infrastructure development and rapid industrialization. Air compressors are use in different applications that support industrial growth. Including those in the food and beverage, manufacturing, household appliance, and oil and gas industries. A sizable electronics and semiconductor manufacturing industry base in China and Taiwan and several compressor makers in India and China are expect to 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 worth USD 32.42 billion. And by 2030 it will reach USD 43.75 billion at a 3.9% CAGR during the forecast period. The global industrial air compressor market is drive by extensive urbanization and rising industrial automation.
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