Categories: Manufacturing & Construction
Industrial Air Compressor Market Snapshot
“The Industrial Air Compressor Market is estimated to increase at a CAGR of 7.2% from $ 36.73 Billion in 2023 to $ 54.32 Billion by 2030.”
Industrial air compressors are versatile machines that provide pressurised air for various industrial operations. The choice of an air compressor depends on its intended usage, supporting tools or processes, and project budget. The optimal choice should be based on a thorough assessment of performance needs and available resources, rather than just choosing the least expensive or most powerful option. This ensures the compressor can produce the required outputs while minimizing maintenance and operating costs.
Industrial air compressors are increasingly utilized in the chemical and petrochemical industries due to their efficiency and dependability. Governments worldwide are implementing Industry 4.0 regulations to stay competitive, with India committing significant resources and national policies to empower its manufacturing sector.
The selection process requires considering several crucial factors.
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The rising cost of air compressor maintenance, which includes intricate monitoring and control systems, may hinder market expansion and potentially slow future growth.
Because of the increased emphasis on sustainability and environmental protection, one important driver of the industrial air compressor market is the increasing demand for energy-efficient and eco-friendly compressors. As a result, new compressor technologies, such as oil-free compressors, that consume less energy and emit less noise and pollutants, have been developed. Government rules that require companies to minimise their carbon footprint and boost their energy efficiency are encouraging the use of these technologies.
As urbanization increases, industries like food and beverage, manufacturing, semiconductors, and electronics are growing, especially in emerging markets. Centrifugal air compressors are used in these sectors due to their low cost, long working life, and lower capital investments. Emerging economies, particularly in Asia-Pacific and Africa, are experiencing increased industrial growth. Government initiatives to encourage industrial automation and efficient resource utilization are also driving demand for industrial air compressors.
Industrial Air Compressor Market Segment Analysis
“The market for rotary air compressors is expected to be significantly impacted.”
Rotary air compressors, also known as rotary screw air compressors, are a popular positive displacement compression system due to their weight reduction, easier maintenance, lower oil consumption, reliability in harsh environments, and less heat generation.
They are used in various industrial contexts for tasks like material handling, spray painting, and machine tool use. In recent years, sectors like manufacturing, food, beverage, and pharmaceutical are implementing oil-free air compressors to optimize processes and reduce production costs.
No Sabe Fallar, SA de CV, a Mexican subsidiary of BIC, uses oil-injected air compressors for medium-pressure air needs. They use GA-type compressors, an energy-saving ES control system, and the AirConnect Visualisation System to achieve high reliability and cost-effectiveness, reducing energy consumption.
Industrial air compressors are crucial in the oil and gas industry, with 94% of petroleum gas compressed before pipeline transportation, according to Q Air-California.
The Covid-19 pandemic has reduced demand for petrochemical and processed products, impacting downstream oil and gas firms like BPCL, HPCL, IOCL, and RIL. This has led to poorer refining margins, resulting in lower profitability. Upstream firms like Oil India and ONGC are also experiencing reduced demand growth due to reduced travel and industrial operations, affecting industrial air compressors in the oil and gas industry.
Competitive Landscape of the Industrial Air Compressor Market Analysis
April 18, 2023 – Hitachi Industrial Equipment Systems Co., Ltd. ("HIES"), a wholly-owned subsidiary of Hitachi, Ltd. announced the establishment of Hitachi Global Air Power, a new company bringing together its global compressed air business. Effective immediately, Sullair will change its company name and operate under Hitachi Global Air Power.
May 2022: Mitsubishi Electric Corporation announced that it would invest 1.44 billion Turkish lire (USD 113 million) in a new plant at Mitsubishi Electric Air Conditioning Systems Manufacturing Turkey Joint Stock Company (MACT), the company's air-conditioner production base in Turkey. The expansion will expand MACT's annual capacity for air-to-water (ATW) heat pumps to 300,000 units, up by 100,000 units from current capacity, and room air conditioners to 1,100,000 units, up by 300,000 units. Production will begin in February 2024.
November 11, 2022, Atlas Copco has acquired a New York-based compressor distributor
Nacka, Sweden, November 11, 2022: Atlas Copco has acquired the operating assets of Northeast Compressor. Northeast Compressor sells air compressors, related equipment, and services to a broad range of industrial customers in upstate New York, USA.
August 2022: Ingersoll Rand Inc. entered into agreements to acquire Holtec Gas Systems LLC, Shanghai Hanye Air Purifying Technology Co., Ltd, and Hydro Prokav Pumps (India) Private Limited for a combined cash purchase price of approximately USD 35 million. Holtec and Hanye aim to expand Ingersoll Rand's air treatment capabilities and enhance the breadth of solutions offered for the larger compressor ecosystem.
Largest market-> Asia Pacific
Fastest Growing Market-> Asia Pacific
Revenue Share % (2022)
The APAC region is the fastest-growing market for industrial air compressors due to rapid industrialization and investment in China, India, and Japan. The demand for HVAC systems in residential and commercial sectors and the rising demand for processed food and drinks is driving the demand for oil-free compressors in the food and beverage sector.
The Asia-Pacific region is boosting investment in hydrogen and green energy industries to meet its energy demand and meet decarburization standards.
China is expected to be a top market for industrial air compressors in the Asia-Pacific region and internationally due to its numerous air compressor manufacturers, including Zhejiang Kaishan Compressor Co. Ltd, VMAC Company, DHH Compressor Jiangsu Co. Ltd, and DENAIR Energy Saving Technology (Shanghai) PLC.
North America is a significant market for the industry due to its growing urbanization, increasing demand for domestic equipment, and rising living standards. The region's market expansion is influenced by mining, oil exploration, energy, and power generation sectors. The US's promising energy and healthcare industries are expected to further boost product demand.
India, a developing country, is experiencing a significant demand for air compressors in South Asia and the Pacific, accounting for nearly one-third of the regional demand. The country's government's goal to become one of the top two car manufacturers by 2030 is also contributing to the high demand for industrial air compressors in India's power, mining, and oil and gas industries.
Segments Covered in the Industrial Air Compressor Market Report
Industrial Air Compressor Market, By Product
Industrial Air Compressor Market, By Technology
Industrial Air Compressor Market, By Power
Industrial Air Compressor Market, By Lubrication
Industrial Air Compressor Market, By Application
Middle East & Africa
Frequently Asked Questions
What is the expected growth rate of the Industrial Air Compressor market over the next 7 years?
Industrial Air Compressor Market is estimated to increase at a CAGR of 7.2% from $ 36.73 Billion in 2023 to $ 54.32 Billion by 2030. | Report 2023 by published by Market Report Service.
Who are the major players in the Industrial Air Compressor market and what is their market share?
Atlas Copco, Ingersoll Rand, Doosan Infracore, Hitachi, BOGE Kompressoren, Volkswagen (MAN Energy Solutions), ELGiEquipments, Kirloskar Pneumatic, KaeserKompressoren, Danfoss (Denmark), Coaire, Siemens Energy, Sulzer, Baker Hughes, Nidec, EBARA Corporation (Elliott Group), Howden Group, Mitsubishi Heavy Industries, are prominent players operating and dominating in the market.
Who are the top 3 Industrial Air Compressor Market Key Vendors?
Atlas Copco, Ingersoll Rand, Doosan Infracore, Hitachi, are key players in the Industrial Air Compressor market.
Which geographical areas dominate the worldwide market for Industrial Air Compressor?
Asia Pacific region are emerging as the top regional markets for Industrial Air Compressor solutions.
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