Industrial air compressors are versatile tools that provide compressed air for a range of industrial uses. When choosing an air compressor for a particular use, be sure the unit can provide the desired effects while requiring little upkeep and running costs. A number of factors, such as the application's intended use, the tools or processes it will support, and the project's budget, help identify the best air compressor for a given application.

In 2021, the market for industrial air compressors was USD 32.42 billion, and by 2030, it will reach USD 43.75 billion, 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 & beverage industry, and increased demand from the HVAC industry, are the main market drivers for 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. Industrial air compressor usage has increased due to the expanding use of cutting-edge technologies like the Industrial Internet of Things (IIoT) and the increasing industrialization of Africa and other Asia Pacific nations. Governments are also expanding their investments to expand their industrial capacity and support industrial automation technology to maximize resource usage. As a result, there is expanding need for industrial air compressors because they can easily be used to power conveyors, automation systems, pneumatic tools, packing, and other devices.

Restraints

The price of installing and maintaining an air compressor is relatively significant. The cost keeps going up because complex monitoring and control systems for different air compressors need to be maintained. In the near future, this will slow market expansion.

Market Segmentation

By Type

On the basis of product, the stationary air compressors segment led the entire market with a revenue share of 55% in 2021. These compressors are also commonly found in the oil and gas industry and are used to power pneumatic machines such as pipelines, oil extraction, and purification equipment.

The portable air compressor segment will expand at the highest CAGR due to these products increased use in mining and construction. Portable air compressors are dependable power sources for tools and machinery in a variety of sectors, including construction. These compressors' ease of use and minimal maintenance requirements have also increased their appeal in low-duty applications.

By Technology

The positive displacement segment was the largest market contributor with a significant revenue share. The growing desire for air and gas compression in various industries fuels the demand for positive displacement air compressors. Significant investments are being made around the globe to improve oil and gas transportation networks, with rapid industrialization in emerging economies and high demand for processed food expected to be driving factors. Manufacturing, chemicals and petrochemicals, electricity generation, pharmaceuticals, pulp and paper, and food and beverage will drive up demand for these air compressors. During the forecast period, the rotary segment will lead the Positive Displacement market.

By Application

Due to the rising demand for chemical and petrochemical products in developing economies in 2021, the chemicals and petrochemicals segment ruled the entire market.

The food and beverage industry is another dominant segment that drives the demand for industrial air compressors because they require high-powered and high-efficiency air compressors. The market is driven by increased investment and demand for oil-free compressors in the food and beverage sector and increased demand from the HVAC industry.

Regional Analysis 

Asia Pacific led the entire regional market in 2021 with a revenue share of nearly 30% due to rising government investments in the development of infrastructure and rapid industrialization. Air compressors are used in different applications that support industrial growth, including those in the food and beverage, manufacturing, household appliance, and oil and gas industries. Several electronics & semiconductor manufacturing industries in China and Taiwan and several compressor makers in India & China will drive the market. 

North America and Europe will experience steady growth. However, rising investments in Eastern Europe will accelerate the development of industrial air compressors. Furthermore, the market will expand due to customers' growing preference for low-energy and easy-to-use items.

Key Players

· Howden Group Ltd.

· BelAire Compressors

· GE Oil & Gas

· Elliott Group Ltd.

· Hitachi Ltd.

· Doosan Infracore Co. Ltd.

·  Atlas Copco AB

· Kirloskar Pneumatics Co. Ltd.

· Man SE

· Cook Compression

· Gardner Denver, Inc.

· Mitsubishi Heavy Industries, Ltd.

· Ingersoll-Rand PLC.

· Boge Kompressoren

· General Electric

· Sulzer AG

In 2021, the market for industrial air compressors was USD 32.42 billion, and by 2030 it will reach USD 43.75 billion, growing at a 3.9% CAGR during the forecast period. The global industrial air compressor market is driven by extensive urbanization and rising industrial automation. 

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