Global Air Compressor Market to Reach US$ 22.7 Billion by 2028, Catalyzed by Emerging Applications Across Various Industries

October 03, 2022 | Chemical & Materials

IMARC Group’s latest report, titled “Air Compressor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global air compressor market size reached US$ 17.8 Billion in 2022. Air compressors are mechanical devices that compress and pressurize air to convert it into usable power for various applications. They are usually powered by electric motors, diesel, or gas engines and consist of a cylinder head, inter and after coolers, delivery valve, cooling water jacket, main bearings, compressor casing, piston, and crankshaft. They rely on kinetic energy from the compacted gases stored in pressurized air to deliver the required power to different equipment and machinery. They help minimize disposable waste and offer continuous compression to ensure proper transportation of fluids and gases in cooling machines. They are reliable, interchangeable, easy to use, and require less maintenance. As a result, air compressors find extensive applications in vacuum packing, spray painting, cleaning medical equipment, and tool powering.

Global Air Compressor Market Trends:

The emerging applications of air compressors across various industries, including food and beverage, metallurgy and mining, power, automotive, and petrochemical, represent the primary factor driving the market growth. This can be attributed to the growing need for efficient and cost-effective compressors to fulfill the energy demand and improve operational outputs. Additionally, with the surging environmental concerns, governments of various countries are taking favorable initiatives to promote the adoption of air compressors over oil-based variants to reduce noise pollution and carbon dioxide (CO2) emissions. In line with this, due to the increasing sales of consumer electronics, the widespread incorporation of air compressors in air conditioners (AC), refrigerants, steam turbines, and other electromechanical machines has catalyzed the market growth. Furthermore, the leading players are introducing next-gen eco-friendly and low-maintenance systems with high-performance capabilities, enhanced efficiency, and lower noise levels. Along with this, the rising popularity of portable air compressors due to their noise- and vibration-free properties and large-scale integration with variable-speed systems has escalated the product demand. Other factors, including the increasing product usage in the oil and gas sector to maintain the gas flow in pipelines, extensive investments in manufacturing and mining activities, technological advancements, and rapid industrialization, are also providing a positive thrust to the market growth. Looking forward, IMARC Group expects the market value to reach US$ 22.7 Billion by 2028, expanding at a CAGR of 3.76% during 2023-2028.

Market Summary:

  • Based on the type, the market has been classified as portable and stationary. 
  • The market has been divided based on technology into reciprocating/piston, rotary/screw and centrifugal. 
  • On the basis of the lubrication method, the market has been bifurcated into oil-filled and oil-free.
  • Based on the power rating, the market has been segmented into 0-100 kW, 101-300 kW, 301-500 kW and 501 kW and above. 
  • The market has been categorized based on the end user into manufacturing, semiconductors and electronics, food and beverages, healthcare/medical, home appliances, energy, oil and gas and others. 
  • Region-wise, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and the Middle East and Africa.
  • The competitive landscape of the market has also been analyzed, with some of the key players being Atlas Copco AB, Bauer Compressors Inc., Berkshire Hathaway Inc., Ciasons Industrial Inc., Desran Compressor (Shanghai) Co. Ltd, Doosan Corporation, ELGi Equipments Limited, Hitachi Ltd., Ingersoll Rand Inc. (Trane Technologies plc), Rolair Systems and Suzler Ltd.

Report Scope:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Type, Technology, Lubrication Method, Power Rating, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Atlas Copco AB, Bauer Compressors Inc., Berkshire Hathaway Inc., Ciasons Industrial Inc., Desran Compressor (Shanghai) Co.Ltd, Doosan Corporation, ELGi Equipments Limited, Hitachi Ltd., Ingersoll Rand Inc. (Trane Technologies plc), Rolair Systems and Suzler Ltd.
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Global Air Compressor Market to Reach US$ 22.7 Billion by 2028, Catalyzed by Emerging Applications Across Various Industries
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