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. Industrial air compressors come in two different varieties: reciprocating air compressors and rotary air compressors.

In 2021, the market value of industrial air compressors was worth USD 32.42 billion, and by 2030 it will reach USD 43.75 billion, growing at a 3.9% CAGR. 

The market for industrial air compressors is growing due to increased investments in development and research projects for manufacturing better mechanical and industrial equipment using industrial air compressors.

Market Dynamics

Drivers

Air compressors are used increasingly frequently in significant end-use industries because of their adaptability to existing systems, low maintenance costs, and variable speed control. The increased demand for energy-efficient compressors is due to their more cost-effective operation. 

Growing concerns about air quality have also been prompted by the development of gas compressor stations. The effectiveness of air and gas compressors is frequently evaluated through the use of air monitoring devices. The industry's ongoing investments and activities that are not based on oil are also increasing the demand for air compressors. Top manufacturers are creating eco-friendly and low-maintenance systems for customers to accept new products.

Many companies, like Ingersoll Rand Plc and Atlas Copco Inc., have created high-performance next-generation systems to differentiate their products from other competitors. For instance, contemporary air compressors operate more efficiently and with less noise. Modern compressors with advanced cost-saving strategies have thus seen great growth in numerous application areas.

Restraints

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

Opportunity 

A greater focus on energy efficiency, energy recovery, and CO2 emissions will drive the market. Throughout the forecast period, a significant increase in revenue is anticipated due to the growing demand for monitoring compressed air systems. Additionally, strict food safety and health laws will fuel air compressor demand in the food and beverage industry.

Market Segmentation

By Type

On the basis of product, the industrial air compressor market is segmented into portable and stationary.

In 2021, the stationary air compressors segment contributed for the largest market share of about 55%. In the oil and gas industry, where pneumatic equipment, including pipelines and apparatus for the extraction and purification of oil, is powered by these compressors, they are frequently encountered.

The portable air compressor sector will grow at the greatest CAGR due to these products' increased application in mining and construction.

By Technology

The positive displacement segment is the largest market, utilized in various end-use industries like food & beverage, construction, automotive & transportation, mining, and others. Rising investment in these end-use industries will boost the demand for a positive displacement market segment.

By lubrication

In 2021, the oil-flooded segment held the biggest market share. This type of compressor is becoming more popular because it is cheaper than oil-free compressors and can usually compress everything in one 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

The chemicals and petrochemicals industry had the largest share in 2021 because of the growing need for chemical and petrochemical products in developing economies.

Regional Analysis 

Asia Pacific held the biggest position in the market in 2021, with 30% of the revenue share due to government investments in infrastructure development and rapid industrialization. Air compressors are utilized in many different industries, such as food and beverage, manufacturing, home appliance, and oil and gas, contributing to the industrial sector's growth. A substantial electronics and semiconductor manufacturing sector base in China and Taiwan and various compressor manufacturers in India and China will fuel market growth.

North America and Europe will experience steady growth. However, increased investments in Eastern Europe will hasten the development of industrial air compressors. The market will expand due to consumers' growing desire for products that are easy to use and consume little energy.

Key Players

· Howden Group Ltd.

· GE Oil & Gas

· Elliott Group Ltd.

· Doosan Infracore Co. Ltd.

·  Atlas Copco AB

· BelAire Compressors

· Hitachi Ltd.

· Cook Compression

· Ingersoll-Rand PLC.

· Boge Kompressoren

· Gardner Denver, Inc.

· Kirloskar Pneumatics Co. Ltd.

· Man SE

· Mitsubishi Heavy Industries, Ltd.

· General Electric

· Sulzer AG

In 2021, the market value of industrial air compressors was worth USD 32.42 billion, and by 2030 it will reach USD 43.75 billion, growing at a 3.9% CAGR. The market for industrial air compressors is driven by extensive industrialization and rising levels of automation in various industrial sectors.