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An industrial air compressor utilizes either an electric motor or a diesel engine to transform power into potential energy stored in compressed air. They are appropriate for use in driving pneumatic machines, spraying crops, and performing jobs in producing food and beverages, among other applications.
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 during the forecast period.
A significant factor driving the market for industrial air compressors is an increase in government and other major market participants’ spending. The market for industrial air compressors will rise due to increased investments in development and research projects to manufacture better mechanical and industrial equipment using industrial air compressors.
Market Dynamics
Drivers
Modern air blowers are involved by more than 70% of makers in customary activities. Modern air blowers are involved by more than 70% of makers in customary activities. 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 an expanding need for industrial air compressors because they can easily be used to power conveyors, automation systems, pneumatic tools, packing, and other devices.
Restraints
During the forecast period, the market will be constrained by the high maintenance costs and tightening governmental regulations on noise pollution and greenhouse gas emissions.
Opportunity
Over the evaluation period, this market will have a lot of potential due to the preference for industrial air compressors over hydraulic and electric power. Compared to electric and hydraulic power, air compressors have an advantage due to their ability to provide safety, flexibility, and low maintenance costs. Air compressors have fewer moving parts than other systems compared to electrical and hydraulic power sources.
Market Segmentation
By Type
On the basis of type, the market for industrial air compressor is segmented into stationary and portable.
In 2020, the stationary air compressor was the biggest market, with 56.3% of the revenue share. These compressors are found in the oil and gas sector, where they are used to power pneumatic machinery such as pipelines and machinery for the extraction & purification of oil.
The portable air compressor segment will expand rapidly since these products are used more frequently in mining and construction.
By Technology
On the basis of technology, the market for industrial air compressor is segment into positive displacement and dynamic.
With a revenue share of nearly 67%, the positive displacement segment ruled the entire market. Positive displacement air compressors are frequently use in automotive and transportation, packaging, construction, food and beverage, metals and mining, and other industries. The need for positive displacement air compressors is anticipate to expand due to the increase in investments in these industries, accelerating market growth. According to the research, over 70% of all industries employ reciprocating-piston compressors, the most popular positive displacement compressor.
By Lubrication
On the basis of application, the market is segment into oil-filled and oil-free.
In 2021, the oil-filled segment ruled the entire market with a significant revenue share. They are growing in popularity since they are less expensive than oil-free compressors and can typically complete the compression process in a single stage. The compressor is frequently use in industries including oil and gas, textiles, rubber and plastics, metals, and mining. Where cleaner compressed air is not necessary.
By Power
On the basis of power, the market is segment into more than 500 kW, 75 – 500 kW, 16 – 75 kW, and upto 15 kW.
With a revenue share of more than 43.6% in 2020, 75 kW–500 kW compressors ruled the market. It is popular due to its high productivity, flexible operation, high dependability, and low energy costs. Also, this selection guarantees clean, fresh airflow even in challenging circumstances.
By Application
In 2021, the chemicals and petrochemicals industry had the greatest revenue share. It is due to the rising demand for chemical and petrochemical products in developing economies.
The necessity for powerful and efficient air compressors in the food. And beverage industry makes it one of the significant markets for industrial air compressors. The market is stimulate by rising investments in and demand for oil-free compressors from the food and beverage industry & growing demand from the HVAC industry.
Regional Analysis
Asia-Pacific is the fastest-growing regional market for industrial air compressors. It is due to growing industrialization, increasing investment in LNG, chemicals, and mining, as well as the growth of the domestic manufacturing sector. Which includes the production of automobiles and food and beverages. Asia-Pacific is also seeing strong economic growth. It is investing heavily in the hydrogen and green energy industries to meet its energy needs and comply with decarburization regulations.
Key Players
- Doosan Infracore Co. Ltd.
- GE Oil & Gas
- Elliott Group Ltd.
- Howden Group Ltd.
- Hitachi Ltd.
- BelAire Compressors
- Ingersoll-Rand PLC.
- Atlas Copco AB
- Cook Compression
- Gardner Denver, Inc.
- General Electric
- Mitsubishi Heavy Industries, Ltd.
- Kirloskar Pneumatics Co. Ltd.
- Boge Kompressoren
- Man SE
- 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 during the forecast period.
The global expansion of the oil and gas, petrochemical, transportation, agricultural, and automotive industries, as well as increased government funding. For the development of industrial compressor technology, are some prominent factors that sharply accelerate market growth.
