A device called an industrial air compressor is used to transform power into the potential energy contained in pressured air. It draws in and compresses air using one or more reciprocating pistons. Then, different instruments, like jackhammers, paint sprayers, impact wrenches, etc., are targeted by compressed air. They are used in various processes in oil and gas, food and beverage, and other industries.

The market for industrial air compressor in 2021 was USD 32.42 billion, and by 2030, it will be worth USD 43.75 billion, growing at a 3.9% CAGR during the forecast period.

The market growth is influenced by the increase in demand for industrial air compressors from the oil and gas industry and the rising demand for energy-efficient industrial air compressors.  

Market Dynamics

Drivers

Industrial air compressors can be used in a wide range of end-use industries. Industrial air compressors are used by over 70% of manufacturers in regular operations. The use of Industrial air compressor increased due to the rising use of technologies like the Industrial Internet of Things (IIoT) and the increasing industrialization of Africa and other Asia Pacific nations. Governments worldwide are also boosting their investments to expand their industrial capacity and support industrial automation technology to maximize resource usage. 

Restraints

During the forecast period, the market will be constrained by the high maintenance costs and tightening governmental regulations on noise pollution and greenhouse gas emissions.

Opportunity 

Over the evaluation period, this market will have a lot of potential due to the preference for industrial air compressors over hydraulic and electric power. Compared to electric and hydraulic power, air compressors have benefits due to their ability to provide safety, flexibility, and low maintenance costs. Air compressors have fewer moving parts than other systems compared to electrical and hydraulic power sources.

Market Segmentation

By Product Type

The positive displacement segment is the leading market, with a revenue share of nearly 66.13%. Positive displacement is used in Construction, automotive and transportation, packaging, food and beverage, metals, and mining, among other end-user industries. Positive displacement air compressor demand will increase due to increased investment in these sectors.  

By Design Type

During the forecast period, the stationary segment will be the largest market. Due to its stationary nature, industrial air compressors can be fixed at a specific location. These air compressors have a higher cfm rating than portable air compressors because they can produce a huge volume of compressed air simultaneously. These are utilized in establishments and sectors where a mobile compressor is not required. Stationary compressors may produce higher air pressures when compared to portable compressors.

By Power Output

The 51-250 kW segment is the leading market segment, with a revenue share of nearly 48.15%. They are utilized in a variety of settings, including water and wastewater treatment facilities, power plants, the chemical and petrochemical, food and beverage, mining, the automotive and transportation sectors, packaging, Construction, the metals sector, and manufacturing. Demand for industrial air compressors with 51 to 250 kW power output has increased due to several large-scale chemical projects, particularly in developing nations.

By Lubrication

In 2021, the oil-flooded segment held the biggest market share. They are becoming popular as they are less expensive and can complete the compression process in a single stage. The compressor is frequently used in industries including oil and gas, textiles, rubber and plastics, metals, and mining, where cleaner compressed air is not necessary.

By Application

In 2021, the industry's chemicals and petrochemicals had the greatest revenue share due to the rising demand for chemical and petrochemical products in developing economies.

The food and beverage segment is one of the leading market segments. The market is stimulated by growing investments in and demand for oil-free compressors from the food and beverage industry and rising demand from the HVAC industry.

Regional Analysis

Asia Pacific is the biggest regional market for industrial air compressors. The largest market share is due to the expansion of sectors, including chemicals and petrochemicals, manufacturing, power generation, pharmaceuticals, and food and beverage. It is driven by escalating industrialization and development efforts in the region's rising economies. China produces more cars as compared to any other country today. Furthermore, the development of the electronic industries in India, China, South Korea, and Japan will boost the need for industrial air compressors in the region.

Key Players 

· GE Oil & Gas

· Elliott Group Ltd.

· Howden Group Ltd.

·  Atlas Copco AB

· Hitachi Ltd.

· Cook Compression

· Doosan Infracore Co. Ltd.

· BelAire Compressors

· Gardner Denver, Inc.

· Boge Kompressoren

· Ingersoll-Rand PLC.

· Man SE

· General Electric

· Mitsubishi Heavy Industries, Ltd.

· Kirloskar Pneumatics Co. Ltd.

· Sulzer AG

The market for industrial air compressor in 2021 was USD 32.42 billion, and by 2030 it will be worth USD 43.75 billion, growing at a 3.9% CAGR during the forecast period. The increasing demand for energy-efficient air compressors to increase operational effectiveness and reduce overall costs is a significant factor boosting the demand for industrial air compressors.

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