Industrial Air Compressor Market Size, Share & Trends 2031

Report Description

Industrial Air Compressor Market Outlook 2031

The global industrial air compressor market size was USD 33.10 Bn in 2022 and is likely to reach USD 34.23 Bn by 2031, expanding at a CAGR of 3.4% during 2023–2031. The market growth is attributed to the rising demand for energy-efficient air compressors from various industries, due to growing industrialization and increasing automation across the globe.

An industrial air compressor is a mechanical device that is used to convert power into potential energy with the help of an electric motor or a diesel engine. It is designed to provide reliable support for heavy-duty operations of industries. It draws air and then compresses it with the use of one or more reciprocating pistons. This compressed air then delivers to various tools such as paint sprayers and jackhammers.

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Industrial air compressors are mostly used to increase or decrease airflow in a controlled manner. It is often used in applications where high pressure of air is required. It offers high temperatures that use in those locations where explosions and power hazards restrict other energy. It is safe to control as it eliminates the risk of electric shock.

The industrial air compressor is used in numerous applications of industries such as ventilating silos in agricultural facilities, running pneumatic machines in manufacturing, and running laundry pressers in dry cleaners. It acts as an important resource in industries as it helps to power pneumatic tools such as drills and saws.

COVID-19 Impact on Industrial Air Compressor Market

The market report finds that the COVID-19 pandemic slowed down the growth of the global industrial air compressor market. A sudden disruption in the supply chain of the air compressor system owing to the lack of timely supply of raw materials as governments throughout the world implemented preventive measures such as social distancing and emergency lockdowns to control the spread of the COVID-19 virus.

Many companies that develop air compressors have already announced possible delays in delivery due to traveling restrictions across the globe. The prolonged shutdown of manufacturing units across industries owing to labor shortages hampered the overall revenue generation of the global market.

Industrial Air Compressor Market Dynamics

The research report provides a complete overview by providing detailed information and by focusing on growth and historic data to determine the key market trends, major drivers, existing restraints, growing opportunities and potentials, and emerging challenges. The global industrial air compressor market report has up-to-date insights about the market scenarios that can help in shaping the overall performance and output of the market during the forecast period, 2023 to 2031.

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What are the Key Factors Propelling the Global Industrial Air Compressor Market?

Growing industrialization and urbanization at a rapid pace across the globe is a major key factor driving the growth of the global industrial air compressor market. Air compressors are increasingly being used in various industries, owing to their variable speed control and ability to retrofit existing systems.

Wide applications in many industries such as manufacturing, automobile, chemicals & petrochemicals, oil & gas, and food & beverages as it transmits and stores energy used in mechanical work for powering up pneumatic tools. Rising automobile industries across the globe demand for industrial air compressor systems fuels the global market growth during the projected period.

Energy-efficient air compressors are growing in popularity, due to rising electricity concerns among consumers. Industrial and commercial sectors annually utilize around one trillion kilowatt-hours of electricity. Therefore, consumers are looking for energy-efficient air compressor systems that consume less energy.

Thus, increasing demand for energy-efficient air compressor systems to reduce operational costs is another major factor driving the growth of the global market in the coming years.

Which Key Factors are Projected to Restrain the Growth of the Global Industrial Air Compressor Market?

The higher initial capital requires for setting up the air compressor system, which hampers the revenue growth of the global industrial air compressor market. New emerging technologies in the equipment of air compressor systems are quite expensive. Rapidly increasing advanced technologies across the globe require a high amount of capital to adopt those technologies that restrain the growth of the global market at a certain limit during the projected period.

The lack of awareness among the masses regarding the proper use of air compressor systems and their benefits hinders the growth of the market. Lack of knowledge of industry-related applications especially in rural areas of developing regions is expected to hamper the overall revenue generation of the global industrial air compressor market during the assessment period.

The high maintenance cost of compressed air systems hinders the revenue growth of the global industrial air compressor market. The system is quite expensive and it requires a high level of monitoring with proper and regular maintenance to keep it in good working condition. Thus, in case of failure, it requires a high initial cost for repairing the system hinders market growth at a certain limit.

What are the Key Factors Expected to Create Lucrative Opportunities for Global Industrial Air Compressor Market Players?

Air compressor system creates a lot of noise and emits greenhouse gas. Growing awareness regarding the environment leads to increasing environmental concerns among people as they become more aware of the negative effects of greenhouse gas emissions. Furthermore, stringent restrictions by the government to reduce pollution result in rising the demand for the production of eco-friendly compressed air systems.

Growing investment in researching and developing advanced technologies creates immense growth opportunities for the market players. Expansion of various industries at a rapid pace highly demands for advanced air compressor systems. Market players are shifting their focus towards reducing costs for the production of air compressor systems with new advanced technologies.

Industries are increasingly becoming technology-oriented with new innovations to improve the air quality, efficiency, and performance of air compressors, which fuels the growth of the global industrial air compressor market in the coming years.

Scope of Industrial Air Compressor Market Report

The global industrial air compressor market research report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.

Industrial Air Compressor Market Segment Insights

Why is the Positive Displacement Segment More Prevalent than the Dynamic Displacement Segment?

Based on technology, the global industrial air compressor market is bifurcated into positive displacement and dynamic displacement. The positive displacement segment is further bifurcated into rotary and reciprocating. The rotary segment is further subdivided into screw, scroll, and others. The dynamic displacement segment is classified into axial and centrifugal.

The positive displacement segment held a key share of the market in 2021 and is anticipated to expand at a significant growth rate during the forecast period, due to the rising industrialization in emerging economies. Positive displacement compressors use rotary or reciprocating components to compress the air and are commonly used in packaging, printing, automotive & transportation, and manufacturing of refrigerators.

It has high efficiency with a high-pressure ratio. Rotary air compressors are used in a wide range of applications in different industries, as these compressors are used in electrical and mechanical machinery. It offers a constant flow of air with high reliability that improves the quality. Rising need of air and gas compressors across industries demands for positive displacement air compressors, which leads to driving the growth of the global industrial air compressor market.

However, the dynamic displacement segment is expected to hold a key share of the market in the coming years owing to the wide applications in industries such as oil & gas, food & beverages, and chemicals & petrochemicals. The dynamic displacement compressors are energy efficient as it has fewer rubbing parts. It has high energy reliability that offers high airflow.

What Key Factors Contribute to the Rapid Expansion of the Design Type Segment?

On the basis of design type, the global industrial air compressor market is segregated into portable and stationary. The stationary segment is projected to expand at a rapid pace during the forecast period owing to the rising adoption in the manufacturing sector. It can be fixed at a specific location, due to its stationary design.

These air compressors have a higher CFM (Cubic Feet per Minute) rating that produces a large quantity of compressed air at a single time and delivers high-pressure air compared to a portable air compressor. The rapid expansion of oil & gas and food & beverages industries across the globe demands for stationary compressors as it does not need to be mobile, which leads to fuels the market growth.

The portable segment is anticipated to account for a major market share in the coming years, owing to the wide applications in the construction sector as it offers comfort over a long period of time in woodwork and in painting work. Increasing commercial buildings at a rapid pace along with infrastructure demands for portable air compressor systems.

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What is the Expected Growth Rate of the Seal Type Segment?

Based on seal type, the global industrial air compressor market is fragmented into oil-free and oil-filled. The oil-filled segment accounted for a large market share in 2021 and is expected to cross USD 15 billion during the projected period. Oil-filled compressors use oil to lubricate the chamber, which increases the life span of the system.

These compressors are widely used in those areas where a cleaner compressor is not required. It offers smooth functioning. Growing textile and oil & gas industry demands for oil-filled compressor systems, due to their low maintenance cost that leads to accelerate the market growth in the coming years.

The oil-free segment is projected to generate a revenue share of the global market during the assessment period as it reduces the carbon footprint. It uses alternative materials such as Teflon coating or water to lubricate the chamber. It eliminates the risk of product contamination as there is no oil in the air supply. Increasing demand for oil-free compressor systems from the food & beverages industries attributed to driving the global market growth.

How is the Coolant Type Segment generating more revenue share in the Global Industrial Air Compressor Market?

On the basis of coolant type, the global market is categorized as water-cooled and air-cooled. The air-cooled segment is estimated to expand at a rapid pace in the coming years. It reduces the temperature of the compressed air. It consists of heat exchangers and forced ventilation blowers that help to keep the fluid cool. Air-cooled compressors are widely used in power generation and PET mold bottles.

The water-cooled segment attributed to contributing the segment growth during the forecast period as it requires less power, which reduces the operational cost compared to the air-cooled system. Thus, rising electricity concerns among consumers demand for water-cooled air compressor systems.

What are the Main Aspects for Boosting the Pressure Segment?

Based on pressure, the global industrial air compressor market is segmented into up to 20 bar, 21-100 bar, and above 100 bar. Up to 20 bar segment is projected to generate a large revenue share of the market during the assessment period, due to rising investment from the food & beverages and pharmaceuticals industries. On the other hand, the 21-100 bar segment is anticipated to grow at a significant growth rate due to rising demand for industrial applications as it offers high-pressure air.

What are the Major Reasons for Rising Sales in the Output Power Segment?

On the basis of output power, the global industrial air compressor market is classified into up to 50 kW, 51-250 kW, 250-500 kW, and above 500 kW. The 250-500 kW compressor segment accounted for a large market share in 2021 and is projected to register a considerable CAGR during the forecast period due to its flexible operation.

A system of this range is cost-effective, which offers high reliability and improves productivity. Moreover, it ensures clean air movement even in harsh and extreme conditions. Rising demand for cost-effective compressors along with high reliability fuel the segment growth.

The 51-250 kW segment held a key share of the market and is attributed to contributing to the segment growth, as it offers high-pressure air. It is widely used in power plants, wastewater treatment plants, and the chemical and petrochemical industries. The 51-250 kW is considered an ideal range as it produces perfect pressure. Rising demand for high-pressure compressor systems is attributed to drive the growth of the global market.

Which Major Factors influence the Substantial Growth of the End-user Segment?

Based on end-user, the global industrial air compressor market is divided into manufacturing, construction, textiles, food & beverages, oil & gas, chemicals & petrochemicals, pharmaceuticals & healthcare, automotive & transportation, power generation, HVAC, packaging, mining & metallurgy, and others. The manufacturing segment is projected to register a considerable CAGR during the forecast period.

The manufacturing segment held a major share of the global market in 2021 and is attributed to grow at a rapid pace in the coming years, owing to the rising manufacturing industries across the globe. Increasing industrialization due to urbanization especially in developing economies demands for advanced energy-efficient air compressor systems due to their wide application in various types of machinery, which fuels the market growth.

The oil & gas segment is expected to generate revenue share during the forecast period owing to the growing need for oil, gas, and other fuels. Petroleum gas must be compressed before transferring crude oil through the pipeline. Rising investment in oil & gas projects demands for high power compressors leads to drive the growth of the global market.

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Why is Asia-Pacific dominating the Global Industrial Air Compressor Market?

In terms of regions, the global industrial air compressor market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific accounted for a large market share in 2021 and is expected to dominate the market during the projected period, due to the rapid expansion of industrialization and manufacturing activities in developing countries such as India and China.

Asia-Pacific is one of the fastest developing regions. Rising government investments in infrastructure development, owing to urbanization and initiatives towards investments in chemical, mining, and gas industries fuel the regional market growth in the coming years.

North America is the second largest region of the global market, which held a key market share in 2021 and is anticipated to expand at a rapid pace during the forecast period. The market players in the region focused on easy-to-use and energy-efficient products. The regional market growth is attributed to the increasing technological advancements and growing automobile industries across the region.

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