Air Compressor Market By Type (Portable, Stationary), By Technology (Reciprocating, Rotary, Centrifugal), By Lubrication Type (Oiled, Oil-free): Global Opportunity Analysis and Industry Forecast, 2022-2031
The air compressor market valued for $28,362.30 million in 2021 and is estimated to reach $46,145.30 million by 2031, exhibiting a CAGR of 4.9% from 2022 to 2031. A compressor is a mechanical device that lowers a gas's volume while raising its pressure. A pneumatic equipment that employs pressurized air or gas for a variety of purposes in the manufacturing sector requires air compressors. For instance, they are employed in the assembly-line manufacturing of automobiles. In the plastics industry, compressors are useful for molding, compressing, and clamping. In the mining industry, they are employed in hoists, the main device used to raise cargo out of mines. According to the U.S. Energy Information Administration, the production of coal in the country increased by 7.8% in 2021 when compared to the fourth quarter of 2020. In addition, according to data from the Bureau of Transportation Statistics, new car leases and sales climbed by 3% in U.S. Rise in sales of automobiles and greater production of coal, across other industries, augment demand for air compressors. All these instances are expected to accelerate the growth rate of the air compressor market.
However, increase in rental demand for air compressors is anticipated to limit sales and purchases of new air compressors, slowing the expansion of the industry. Cramo, Blueline, ACME fab-con, Sunbelt, and Coates Hire are important suppliers. The need for new air compressors has reduced as a result of these influential industry players' strategic moves and contributions. Air compressor rentals are preferred by small and medium-sized businesses over new compressor purchases. These elements limit the expansion of the air compressor sector.
The oil & gas, mining, and other industries employ air compressors extensively for a variety of tasks, including drilling, compressed air filing, painting, and other tasks. Owing to a surge in the usage of machinery and equipment across many end-use industries and significant development in the manufacturing sector, the demand for crude oil and renewable resources has increased significantly. In 2021, 95 million barrels were currently consumed worldwide. Today, it is crucial to use efficient machinery and innovative technologies to harness oil to meet global demand. The adoption of products that can tolerate hostile environments is therefore projected to enhance demand for these products in the global market. These are the lucrative opportunities expected to foster the market for air compressors during the forecast period.
The air compressor market is segmented on the basis of type, technology, lubrication method, and region. By type, the market is classified into portable and stationary. By technology, the market is divided into reciprocating, rotary, and centrifugal. By lubrication method, the market is bifurcated into oiled and oil-free.
Region wise, the air compressor market analysis is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competition analysisThe major players profiled in the air compressor market include Atlas Copco AB, Ebara Corporation, Elgi Equipment Ltd., Ingersoll Rand Inc., Kirloskar pneumatic company limited, Kobe Steel Ltd., Mitsubishi Heavy Industries Ltd., Sullair, Sulzer Ltd and VMAC. These companies have adopted acquisition, partnership, and product launch as their key developmental strategies to offer better products and services to customers in the air compressor market.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the air compressor market analysis from 2021 to 2031 to identify the prevailing air compressor market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the air compressor market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global air compressor market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy TypePortable
Stationary
By TechnologyReciprocating
Reciprocating Type
Single stage
Two stage
Rocking piston
Diaphragm
Rotary
Rotary Type
Screw
Rotary helical
Rotary sliding vane
Centrifugal
By Lubrication TypeOiled
Oil-free
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Atlas Copco AB
EBARA CORPORATION
Kobe Steel Ltd.
Mitsubishi Heavy Industries Ltd.
Elgi Equipment Ltd.
Ingersoll Rand Inc.
Kirloskar Pneumatic Company Limited
Sulzer Ltd.
Sullair
VMAC
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