Global Air Compressor Market By Type (Stationary and Portable), By Product (Reciprocating/Piston, Centrifugal, and Rotary/Screw), Lubrication (Oil-Free and Oil-Filled), By Application (Manufacturing, Food & Beverage, Semiconductors & Electronics, and Others), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Air Compressor Market Overview:

The global market for air compressors was valued at USD 33,012.6 million in 2021. This market is expected to expand at a compound annual increase rate (CAGR), of 3.1% between 2023-2032.

In 2021, there was a growing need to prevent the spread of COVID-19. This caused a slowdown in the growth of many industries and sectors. The pandemic caused a severe decline in profits and sales of air compressors. Partially lockdowns were also caused by the second wave of COVID-19 cases in different countries. This has resulted in a decrease in investments and a slowdown in market growth.

Global Air Compressor Market

Type Analysis

Because of their popularity in the manufacturing industry, stationary air compressors accounted for more than half the market share. These compressors are used extensively in the oil & gas sector to operate pneumatic equipment for oil extraction & refining as well as pipeline and oil extraction.

Because of the increasing use of portable compressors in construction, mining, and other activities, this segment will see the greatest CAGR. These compressors can provide reliable power for tools and machines in the construction, as well as other industries. They are also easy to maintain and use, making them more popular in low-duty applications.

Product Analysis

The market has been divided into three product categories: centrifugal, reciprocating/piston, and rotary/screw. Over the forecast period, the rotary segment is expected to dominate the market. This can be attributed mainly to the large adoption of rotary air conditioners in large industrial applications, such as metallurgy/mining, papermaking/printing, electrical and mechanical machinery, and electric power.

The highest anticipated CAGR for the forecast period will be in the centrifugal section. These compressors are less energy-intensive, have fewer parts that rub and have greater airflow than most other compressors. These compressors are used extensively in applications like oil refineries, gas turbines, food and beverage, petrochemical, as well as a chemical plant. The forecast period will see a significant increase in segment growth due to all these factors.

Lubrication Analysis

According to lubrication, there are two types of market: oil-filled or oil-free. Market share is expected to be dominant and will reach US$ 25,400 million by 2032. For commercial applications in the energy and chemical industries, oil-filled compressors are highly used. They are more durable than the oil-free compressor and produce less noise.

Oil-free segments are expected to see the greatest CAGR over the forecast period. This is due to the introduction of new regulations to reduce emissions and the increasing focus of governments on environmental safety. A number of factors, including rapid industrialization, and growth in manufacturing, food processing, semiconductor, and other sectors, are driving the demand for air compressors.

Application Analysis

According to their application, the market can be divided into manufacturing, semiconductors or electronics, food and drink, medical, oil and gas, energy, and others. Other applications include chemical, construction, metal, and mining.

In 2021, the market was dominated by the manufacturing segment. This can be attributed both to rapid industrialization occurring in developing countries like India, China, and Brazil, and the increasing demand for high-efficiency air compressors in this sector.

CAGR is expected at its highest in the oil and natural gas segment over the forecast. This can be explained by the higher demand for compressors to re-inject reservoir pressure preservation. Russian regulations require that 95% must be compressed in order to treat crude oil before it can be transported via pipeline. These legislations will drive the segment in the forecast period.

Key Market Segments

Type

• Stationary
• Portable

Product

• Reciprocating/Piston
• Centrifugal
• Rotary/Screw

Lubrication

• Oil-Free
• Oil-Filled

Application

• Manufacturing
• Food & Beverage
• Semiconductors & Electronics
• Home Appliances
• Healthcare/Medical
• Oil & Gas
• Energy
• Others

Market Dynamics

However, the COVID-19 conference has seen an increase in energy efficiency and energy recovery as well as a reduction in CO2 emission. This will drive air compressor demand. In the forecast period, revenue growth will also be driven by an increase in demand for services such as monitoring and maintenance of compressed air installations.

Due to stringent regulations on food safety and health, the market will see a rise in demand for air compressors. A rise in investment in oil & natural gas extraction activities in North American and Middle Eastern countries will also contribute to the market’s growth.

Air compressors are in high demand across key industries due to their ease of use, cost-effective operation, increased adoption of variable speed systems, and easy retrofitting. Because they are cost-effective, energy-efficient compressors have seen a significant increase in demand. There are increasing concerns about the quality of air due to the increase in gas compressor stations.

For monitoring the impact of gas compressors on air quality, many air monitoring systems have been installed. The demand for compressors is also driven by the continuous investment in the industry and the subsequent introduction of oil- and gas-based projects.

The development of eco-friendly, low-maintenance systems is being pursued by key firms as a means of enticing consumers to migrate to next-generation products. To set their goods apart in a highly competitive industry, Ingersoll Rand Plc and Atlas Copco Inc. have developed next-generation systems with exceptional performance capabilities. Some of these compressors’ primary characteristics are increased efficiency and reduced noise levels.

In many applications, the demand for innovative compressors has seen a substantial increase in demand. Consumers’ increased focus on the complete solution and cost-effectiveness is opening new opportunities for energy-efficient compressors. The market is also growing due to the increasing use of compressed air in power tools.

Regional Analysis

The Asia Pacific was responsible for a 36.1% market share in 2021. This is due to ongoing government investments in infrastructure development, rapid industrialization, and continuous government investment in the region. Air compressors are used in many industries such as manufacturing, food, beverage, home appliances, oil, gas, and manufacturing. This is driving the market growth.

The market is expected to grow due to the presence in India and China of several compressor manufacturers, as well as the large manufacturing base in China and Taiwan for semiconductor manufacturing and electronics.

The forecast period predicts that Europe and North America will continue to grow. Increased investments in Eastern Europe will boost the opportunities for industrial compressors. Market growth is also expected to be boosted by the growing focus of consumers on simple-to-use, energy-efficient products.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share Analysis

The market can be described as being competitive. It is characterized in large part by several market leaders, including AireTex Compressors, Atlas Copco, and BelAire Compressors. To expand their product lines, companies are trying to increase their market share. These companies are using various organic and inorganic growth strategies to increase their market share.

Key Market Players

Major players in the global air compressor market

• AireTex Compressor
• Bauer Group
• Atlas Copco
• Cook Compression
• BelAire Compressors
• Ingersoll Rand Plc
• Compressor Products International – CPI
• Gast Manufacturing Inc.
• Galaxy Auto Stationary Equipment Co. Ltd.
• Other Key Players

For the Air Compressor Market research study, the following years have been considered to estimate the market size: