Air compressor Market size: 2021 Trends, Global Analysis with Focus on Opportunities, Growth Potential & Forecast 2025
Market
Analysis
The
global air
compressor market size will develop at a 7.5% CAGR between the forecast
period 2017- 2023, according to the new Market Research Future (MRFR) analysis.
An air compressor, simply put, is a device that converts the power that is
generated through an electric motor, gasoline, or diesel engine into potential
energy and stores in the form of pressurized air, that is, compressed
air.
Various
factors are propelling the global air compressor market share. According to the
recent MRFR market estimates, such factors include the need for
energy-efficient power generation, demand for renewable energy, increasing use
of air compressor in the oil and gas industry, increasing applications in the
automotive, mining, construction, and healthcare sectors, low maintenance cost,
portability, eco-friendliness, the ability of compressed air to deliver
variation in supplied pressure, technological advances, and growing need from
emerging economies.
On the
contrary, contaminated compressed air, noise pollution, the rising price of raw
materials, and the impact of the COVID-19 pandemic are factors that may impede
the market growth over the forecast period.
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Market
Segmentation
The MRFR
report highlights an inclusive segmental analysis of the global air compressor
industry based on end use, lubrication, technology, and product.
By
product, the global air compressor market is segmented into stationary and
portable. Of these, the stationary product type segment will lead the market
over the forecast period.
By
technology, the global air compressor market is segmented into centrifugal,
reciprocating, and rotary. Of these, the rotary technology segment will
dominate the market over the forecast period.
By
lubrication, the global air compressor market is segmented into oil filled and
oil free. Of these, the oil free lubrication segment will spearhead the market
over the forecast period. Rising food security and safety grades due to food
contamination, hazards, and infections are adding to the growth of the segment.
By end
use, the global air compressor market is segmented into healthcare industry,
manufacturing industry, semiconductors and electronics industry, energy
industry, oil and gas industry, food and beverage industry, home appliances,
and others. Of these, the home appliances end use segment will have the largest
share in the market over the forecast period.
Regional
Analysis
By
region, the global air compressor market covers the growth opportunity and
recent trends across Europe, North America, the Asia Pacific (APAC), and the
Rest of the World (RoW). Of these, the APAC region will lead the market over
the forecast period. Increased investments in infrastructure development and
industrialization, demand from different applications like oil and gas
industries, food and beverage, manufacturing, and home appliances, the presence
of several screw compressors in India and China, and presence of a large
industrial base for electronics and semiconductor manufacturing in Taiwan and
China are adding to the global air compressor market growth in the region.
Additional factors adding market growth include the need for lower-power output
compressors is increasing in the electronics and semiconductor industry to
handle printed circuit boards and delicate electronic components, the growing
number of electronics manufacturing facilities, and the rising need for
compression of gas and air.
The
global air compressor market in Europe is predicted to have the second-largest
share over the forecast period. Increasing investments in the Eastern European
region, several re-initiated projects in the region’s recovering economies, and
deployment of advanced air compressors in newly built home appliances are
adding to the global air compressor market growth in the region.
The
global air compressor market in North America is predicted to have healthy
growth over the forecast period, and that in the Rest of the World is predicted
to have sound growth over the forecast period.
Key
Players
Key
contenders profiled in the global air compressor market report include Hitachi
Industrial Equipment Systems Co.,Ltd. (Japan), Emerson Electric Co. (U.S.),
Bauer Compressors, Inc. (U.S.), Elgi Equipments Ltd. (India), Sullivan-Palatek,
Inc. (U.S.), Doosan Portable Power (U.S.), Rolair Systems. (U.S.), Ingersoll
Rand (U.S.), Kaeser compressors SE (Germany), Gardner Denver (U.S.), Sullair,
L.L.C. (U.S.), and Atlas Copco AB (Sweden).
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