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Global Air Compressor Market To Hit US$ 36.2 Billion By The End Of 2021

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Air compressors are used in numerous industrial and non-industrial processes across the globe. It enables the supply and control of air and gas by compressing the gas inside the cylinders with the help of a piston. Air-compressor along with check-valves regulates the flow of gas according to the requirements in different industrial processes.

Rapid growth in automobile industry, increasing adoption of energy saving equipment for various operations, technological advancements in power generation sectors, rising demand for efficient air compressors owing to increasing infrastructure in industrial and non-industrial processes etc. are some of the key factors expected to augment the market growth for air compressor market in near future

Market size and forecast

The global air compressor pump market is estimated to expand at a CAGR of 4.1% over the forecast period i.e. 2016-2023. Further, the global market of air compressor is projected to garner USD 36.2 Billion by 2021 on account of increasing adoption of cost-effective production methods to increase profitability.

Likewise, under the market of air compressor, centrifugal technology segment is projected to register a CAGR of 3.8% over the forecast period and the market of reciprocating air compressor is expected to surpass USD 7.6 Billion by 2023.

The Air Compressor Market of Asia-Pacific is estimated to dominate the overall market of air compressor in near future. Moreover, the market is anticipated to flourish at a CAGR of 4.3% over the forecast period i.e. 2016-2023 across the Asia-Pacific region.  Riding on the back of intensification of power generation, extraction of oil & gas, up-surged demand from refineries etc. are projected to open new avenues for the suppliers in Asia-Pacific region. On the other hand, North America and Europe market is expected to remain uniform over the forecast period i.e. 2016-2023. The saturation in various end-use industries in both the regions is likely to help air compressor demand marginally in near future. Furthermore, wide-scale applications of air compressors in various industries such as automotive, pharmaceuticals, oil and gas, manufacturing industry, rising need of air compressors in food and beverage owing to obligations on food safety and health necessities etc. are projected to swell the demand for air compressor pumps in various industries across the globe.

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However, rapid growth in Middle-East countries and increasing urbanization in Latin America region are offering essential opportunities for end-use industries for expansion of business which will further expected to drive the demand for air compressors in the region during the forecast period. In addition to that, emergence of pharmaceutical industries, huge investment in healthcare sector and rising concern towards quality product are projected to escalate the demand for air compressor pumps in near future.

Air Compressor

Demand Analysis By Market Segmentation

Our in-depth analysis segmented the global air compressor market in the following segments:

By Product Outlook

  • Stationary air compressor
  • Portable air compressor

By Technology Outlook

  • Reciprocating
  • Rotatory
  • Centrifugal

By Lubrication Outlook

  • Oil Filled
  • Oil Free

By Application Outlook

  • Semiconductors & Electronics
  • Food & Beverage
  • Healthcare
  • Home Appliances
  • Manufacturing
  • Oil & Gas

By End-User

  • Automotive
  • Fabrication
  • Power
  • Oil & Gas Industry
  • Pipe mills
  • Healthcare Industry

By Region

Global Air Compressor Market is further classified on the basis of region as follows:

  • North America (United States /U.S. & Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Western and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia)
  • Middle East and North Africa (MENA)
  • Rest of World

Growth Drivers and challenges

Rapid growth in industrial automation and automobile industries, introduction of next-generation air compressors, availability of retrofitting air compressors, growing demand of replacement, emergence of power, oil and gas industries in growing economies are some of the major key factors anticipated to boost the demand for air compressor in near future.

Features of air compressor such as cost-effectiveness as compared to other conventional substitutes, low maintenance and low cost operations, wide-scale applications in numerous industrial & non-industrial processes, convenience in handing portable air compressors, are expected to fuel the demand for air compressor in countless end-use industries over the forecast period i.e. 2016-2023.

Apart from this, the market is majorly driven by the continuous dip in the average price, rising adoption of energy efficient air compressors and availability of portable, advanced and high accuracy air compressors in the market are projected to help the air compressor pump market in the global marketplace. Furthermore, availability of less degradable parts and replacement of conventional air compressors by the advanced ones is likely to hike global demand for air compressors in near future.

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However, noise generation in heavy duty air compressors, air contamination in oil filled air compressors, increasing cost of raw material &  periodic maintenance and replacement of air compressor parts in order to maintain efficiency are some of the factors hampering the growth of air compressor market globally.

Key Players

The key manufacturers of air compressor market are as follows:

  • Siemens
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • GE Energy
  • Ingersoll Rand
  • Doosan
  • ELGI
  • Kirloskar
  • KAESER
  • Atlas Copco

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The Global Air Compressor Market is segmented as follows:

  • By Product type Market Size and Y-O-Y Growth Analysis
  • By Technology type Market Size and Y-O-Y Growth Analysis
  • By Lubrication type Market Size and Y-O-Y Growth Analysis
  • By Application type Market Size and Y-O-Y Growth Analysis
  • By End-user Market Size and Y-O-Y Growth Analysis

By Regions

  • North America (United States/U.S., Canada) Market Size and Y-O-Y Growth Analysis
  • Latin America (Mexico, Brazil, Rest of Latin America) Market Size and Y-O-Y Growth Analysis
  • Western and Eastern Europe (Germany, Italy, Spain, France, U.K, Benelux, Hungary, Rest Of Western Europe, Russia Poland, Rest of Eastern Europe) Market Size and Y-O-Y Growth Analysis
  • Asia-Pacific (China, India, Singapore, Japan, Australia and New Zealand and Rest of Asia) Market Size and Y-O-Y Growth Analysis
  • Middle East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis
  • Rest of World  Market Size and Y-O-Y Growth Analysis

Market Dynamics

Supply and Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

To know more about this research, kindly visit:https://www.researchnester.com/reports/air-compressor-market-global-demand-analysis-growth-opportunity-outlook-2023/192

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Name:- Ajay Daniel

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Ajay Daniel

Research Nester is a leading service provider for strategic market research and consulting, serving clients from 120+ countries across the globe. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.

Through our robust, unbiased extensive primary and secondary research, we help organizations to understand current and future market trends, thus letting them making a prolonged yet dynamic financial investment. We never believe in working as a consultant for our clients but as a business partner, helping the business to grow with a positive wave. With our high level of in-depth industry knowledge and analysis, you always can rely upon us for current market estimation and respective future market forecast for every geographical region.

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