A mechanical device used to compress air to increase its pressure is called an industrial air compressor. This compressed air is employed in a number of processes, including the operation of riveters, pneumatic drills, road drills, and the supercharging and starting of IC engines. Additionally, lifts, rams, and pumps employ it. The industry uses compressed air to power Bessemer converters and furnaces that produce airbursts. Industrial air compressors come in two varieties: reciprocating air compressors and rotary air compressors.
The market worth of industrial air compressors in 2021 was USD 32.42 billion, and it will be worth USD 43.75 billion by 2030, 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 and beverage industry, and increased demand from the HVAC industry are the main market drivers for industrial air compressors.
Market Dynamics
Drivers
Due to the emergence of numerous global chemical and petrochemical, agricultural, automotive, and transportation industries, the need for industrial air compressors is expanding quickly, accelerating the market’s growth rate. Pneumatic equipment in manufacturing processes, laundry pressers in dry cleaners, ventilating silos, and spraying crops in agricultural facilities are just a few applications for industrial air compressors. They are useful for various tasks in the oil & gas industry as well as the food and beverage industry, including packing large bottles, fermentation of wine or beer, processing crude oil, etc.
Restraints
The government’s increasingly stringent regulations on greenhouse gas emissions and noise pollution are just two problems that are preventing the industrial air compressor business from expanding.
Opportunity
Industrial air compressors are used in various industries, including metals and mining, oil and gas, pharmaceuticals, construction, automotive and transportation, and chemicals and petrochemicals. Rapidly expanding industrialization and manufacturing activities present tremendous prospects for the growing industrial air compressor market due to higher costs and capacity expansions.
Market Segmentation
By Type
By 2020, the stationary air compressors segment held a significant market share of about 56.3%. These compressors are also frequently found in the oil and gas sector, where they are used to power pneumatic machinery like pipelines and machinery for the extraction and purification of oil. As these products are used more frequently in mining and construction, the portable air compressor segment will develop at the highest CAGR over the forecast period. Construction, among other industries, uses portable air compressors as dependable power sources for tools and machinery.
By Technology
The positive displacement segment ruled the market with the largest revenue share of 66.13% on the basis of technology. Positive displacement air compressors are frequently used in automotive and transportation, construction, packaging, metals and mining, food and beverage, and other industries. The need for positive displacement air compressors is anticipated to expand due to the increase in investments in these industries, accelerating market growth.
By Power
The 51 -250 KW segment ruled the market with a maximum share of 48.15%. This particular power range has been identified as the best operating range for air compressors because it produces the appropriate operating pressure range of (0.3 to 20) bars. Worldwide, the transportation, automotive, packaging, and manufacturing sectors all employ a lot of air compressors operating in this range.
By Application
In 2020, the manufacturing and services segment ruled the market with the highest revenue share in 2020. The demand for innovative and energy-efficient air compressors in manufacturing is growing due to the fast industrialization in developing nations like India, China, and Brazil.
Regional Analysis
Asia Pacific significantly ruled the entire regional market with the highest revenue share of 34% in 2020 Due to government spending on infrastructure development and fast industrialization. Air compressors are employed in numerous applications that promote industrial growth and those related to the food and beverage, manufacturing, home appliance, and oil and gas sectors. The market is also driven by a sizable electronics and semiconductor manufacturing industry base in China and Taiwan, as well as by a number of compressor manufacturers in India and China.
Key Players
- Hitachi Ltd.
- Howden Group Ltd.
- Atlas Copco AB
- Cook Compression
- Doosan Infracore Co. Ltd.
- Elliott Group Ltd.
- GE Oil & Gas
- BelAire Compressors
- Ingersoll-Rand PLC.
- Mitsubishi Heavy Industries, Ltd.
- Kirloskar Pneumatics Co. Ltd.
- Man SE
- Gardner Denver, Inc.
- BogeKompressoren
- General Electric
- Sulzer AG
The market worth of industrial air compressors in 2021 was USD 32.42 billion, and it will be worth USD 43.75 billion by 2030, growing at a 3.9% CAGR during the forecast period. The market for industrial air compressors is experiencing revenue growth as a result of rising demand for pneumatic tools due to their widespread availability and usage.
