Market Analysis
The Global Air Compressor Market size will develop at a 7.5% CAGR between the forecast period 2017- 2023, according to the new Market Research Future (MRFR) analysis. An air compressor, simply put, is a device that converts the power that is generated through an electric motor, gasoline, or diesel engine into potential energy and stores in the form of pressurized air, that is, compressed air.
Various factors are propelling the global air compressor market share. According to the recent MRFR market estimates, such factors include the need for energy-efficient power generation, demand for renewable energy, increasing use of air compressor in the oil and gas industry, increasing applications in the automotive, mining, construction, and healthcare sectors, low maintenance cost, portability, eco-friendliness, the ability of compressed air to deliver variation in supplied pressure, technological advances, and growing need from emerging economies.
On the contrary, contaminated compressed air, noise pollution, the rising price of raw materials, and the impact of the COVID-19 pandemic are factors that may impede the market growth over the forecast period.
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Market Segmentation
The worldwide air compressor market can be segmented on the grounds of lubrication, product, technology, end-use, and region.
On the grounds of lubrication, the worldwide air compressor market can be classified into oil-free and oil-filled.
On the grounds of the product, the worldwide air compressor market can be classified into portable and stationary.
On the grounds of technology, the worldwide air compressor market can be classified into centrifugal, rotary, and reciprocating.
On the grounds of end-use, the worldwide air compressor market can be classified into food and beverages industry, home appliances, manufacturing industry, oil & gas industry, energy industry, semiconductors & electronics industry, and healthcare industry.
On the grounds of the region, the global air compressor market can be classified into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
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Regional Analysis
By region, the global air compressor market covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, the APAC region will lead the market over the forecast period. Increased investments in infrastructure development and industrialization, demand from different applications like oil and gas industries, food and beverage, manufacturing, and home appliances, the presence of several screw compressors in India and China, and presence of a large industrial base for electronics and semiconductor manufacturing in Taiwan and China are adding to the global air compressor market growth in the region. Additional factors adding market growth include the need for lower-power output compressors is increasing in the electronics and semiconductor industry to handle printed circuit boards and delicate electronic components, the growing number of electronics manufacturing facilities, and the rising need for compression of gas and air.
The global air compressor market in Europe is predicted to have the second-largest share over the forecast period. Increasing investments in the Eastern European region, several re-initiated projects in the region’s recovering economies, and deployment of advanced air compressors in newly built home appliances are adding to the global air compressor market growth in the region.
The global air compressor market in North America is predicted to have healthy growth over the forecast period, and that in the Rest of the World is predicted to have sound growth over the forecast period.
Key Players
The renowned market competitors of the worldwide air compressor market are Sullivan-Palatek, Inc. (U.S.), Kaeser compressors S.E. (Germany), Sullair, L.L.C. (U.S.), Rolair Systems. (U.S.), Doosan Portable Power (U.S.), Atlas Copco AB (Sweden), Ingersoll Rand (U.S.), Gardner Denver (U.S.), Elgi Equipments Ltd. (India), Emerson Electric Co. (U.S.), Hitachi Industrial Equipment Systems Co., Ltd. (Japan), Bauer Compressors, Inc. (U.S.), and a few others.
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