Global Air Compressor Market To Be Driven By Increase In The Adoption Of Robust And Energy-Efficient Equipment In The Forecast Period Of 2023-2028
The new report by Expert Market Research titled, ‘Global Air Compressor Market Share, Size, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global air compressor market, assessing the market based on its segments like type, technology, lubrication, power rating, end-use, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 22,719.09 million
- Forecast CAGR (2023-2028): 4.60%
- Forecast Market Size (2028): USD 29,688.39 million
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During the forecast period, factors such as the developing oil and gas industry, particularly gas production in countries such as the United States, China, and India, as well as rising global energy consumption, are likely to drive the air compressor market.
Furthermore, air conditioners are a big user of air compressors. Sales of air conditioners have propelled the market for air compressors as worldwide living standards have improved. Positive displacement air compressors are expected to have a large market share in the foreseeable future, owing to their widespread use in a variety of expanding sectors.
Air Compressor Industry Definition and Major Segments
An air compressor is a device that converts mechanical energy into potential energy, which is then stored as airtight pressure. By using a different approach, an air compressor pushes more and more air into a storage tank, increasing the pressure.
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The industry can be broadly categorised on the basis of type into:
- Portable
- Stationary
The industry can be divided based on technology into:
- Reciprocating/Piston Compressor
- Rotary/Screw Compressor
- Centrifugal Compressor
The industry can be divided based on lubrication into:
- Oiled
- Oil-Free
The industry can be classified based on power rating into:
- 0-100 kW
- 101-300 kW
- 301-500 kW
- 501 kW and Above
The industry can be divided based on end-use into:
- Manufacturing
- Semiconductors and Electronics
- Food and Beverage
- Healthcare/Medical
- Home Appliances
- Energy
- Oil and Gas
- Others
The global regions for air compressor market include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Air Compressor Market Trends
The air compressor market is predicted to develop due to technological advancements in air compression techniques, which have a significant impact on the equipment’s compression capabilities. The adoption of more durable and energy-efficient equipment is likely to boost demand for air compressors. High-powered and effective air compression equipment is frequently developed using sophisticated technology and extensive technical experience.
As a result, the air compressor industry’s market growth is projected to be hampered in the next years by high installation and maintenance costs. Over the projection period, a growth in development activities in Asia Pacific, Latin America, the Middle East, and Africa is expected to present manufacturers with attractive business possibilities.
Key Market Players
The major players in the market are Atlas Copco, Bauer Group, BelAire Compressors, Cook Compression, Compressor Products International, Inc, Frank Technologies Pvt Ltd, Galaxy Auto Service Equipment Co. Ltd., and Others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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