Global Industrial Air Compressor Market - 2022-2029

Global Industrial Air Compressor Market - 2022-2029

Market Overview

The global Industrial Air Compressor market reached US$ XX million in 2021 and is expected to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period 2022-2029.

An industrial air compressor converts power into potential energy in compressed air, which is subsequently driven into storage tanks by these compressors. Depending on the desired pressure, the respective process could be done in a single-stage or numerous phases. The compressed air is then employed in numerous sectors by releasing its kinetic energy.

To avoid the high initial capital expense associated with new installations, consumers choose to have current machinery and equipment serviced and continue to use existing compressors rather than invest in new installations. Purification and moisture elimination systems come before compressor systems because they improve their operation and efficiency.

Market Dynamics

Extensive industrialization and increasing automation in industrial sectors drive the global industrial air compressor market. However, air leaks and associated constraints hamper the growth of the respective market.

Extensive industrialization and increasing automation in industrial sectors

Compressed air systems are used by 70% of all manufacturers in chemicals and petrochemicals, oil and gas, construction, automotive and transportation, packaging, power generation, healthcare, metals and mining, and others. Due to increased expenditures and capacity expansions, rapidly rising industrialization and manufacturing activities offer enormous opportunities for the industrial air compressor market to flourish.

Furthermore, government measures to promote industrial automation and a focus on industrial automation for optimal resource usage boost demand for industrial air compressors, which can be utilized to power pneumatic tools, packing, automation equipment, and conveyors.

Air leaks and associated constraints

Increased financial losses, equipment downtime, and unneeded capacity additions can all arise from air leaks. Cost constraints necessitate periodic monitoring and repairs because the average compressed system loses between 25 and 35% of compressed air due to leaks. Air leaks can be the most significant waste of compressed air energy at a manufacturing plant.

Due to peaks in demand, air leaks, pressure drops, and flow changes, many air compressor systems have to operate at high pressures. However, working at high pressures can necessitate up to 25% more compressor capacity than necessary, resulting in a waste of air, known as false demand. As a result, numerous industries find conducting air audits and managing leaks onerous, resulting in production losses and additional non-productive time.

Since air leaks can drastically increase an industry's operating cost, the demand for industrial air compressors is highly hampered by air leaks. As a result, the respective factor is recognized as a major market restraint.

COVID-19 Impact Analysis

COVID-19 wreaked havoc on every other industry globally, including the industrial compressor business, disrupting supply lines and stifling demand. Manufacturing, electricity generation, renewables, nuclear, and oil and gas have suffered significant economic losses due

to the COVID-19 pandemic. Manufacturing facilities came to a halt due to government laws and standards such as social separation and lockdowns, derailing the entire global supply chain. Due to the COVID-19 epidemic, industrial compressor manufacturers saw a fast reduction in demand in major end-user markets.

Nonetheless, by August 2021, the pandemic had passed U.S., Canada, and Western European countries. Vaccines have been continuously rolled out in various countries, resulting in this improvement. The aforementioned reasons allowed industries to operate at a level of efficiency compared to their prior levels. Due to the destructive impact of the pandemic and expanding globalization and urbanization, demand for industrial air compressors is likely to return to, if not exceed, its previous level.

Segment Analysis

The global industrial air compressor market is classified based on product, technology, power, lubrication, application and region.

The application of stationary compressors in a wide array of residential and industrial products ensures its market dominance

Stationary compressors are expected to be the most dominant product group, with the highest market share. The stationary category includes various products, such as large and medium-capacity industrial air compressors, utilized in various manufacturing plants and warehouses. Smaller and medium-sized stationary industrial air compressors are commonly found in refrigerators, air conditioners, and automobiles, while larger models are employed in industrial and manufacturing applications.

Stationary compressors are utilized in factories and industries where compressor mobility isn't necessary. When compared to portable compressors, stationary compressors may deliver higher air pressures. The rise of the stationary compressor segment is aided by strong growth in the automotive, chemical and petrochemical, energy, food and beverage, and other industries.

Geographical Analysis

Large scale industrialization, urbanization and manufacturing activities boost Asia-Pacific’s share in the global industrial air compressor market’s regional segment

The regional segment of the industrial air compressor market is dominated by Asia-Pacific, driven by increased industrialization and development activities in the region's growing economies. The electronic sector's relevant elements and progress in India, China, South Korea, and Japan will determine the regional demand for industrial air compressors.

China has become more appealing due to the development of indigenous industries, which has increased exports, the implementation of demanding standards, and fast urbanization. China has a high rate of industrial production and is one of the world's 28 fastest-growing countries. As part of their expansion strategy, manufacturing behemoths like Siemens, GE, and Boeing have built new manufacturing operations in India. All of the aforementioned reasons could aid Asia-Pacific is dominating the market.

Competitive Landscape

The global Industrial Air Compressor industry is quite active in terms of the number and scope of global and local producers. The market has been described as fragmented due to many manufacturers such as Atlas Copco, Ingersoll Rand, Doosan Infracore, Hitachi, BOGE Kompressoren, Volkswagen, Siemens Energy, Kaeser Kompressoren, Mitsubishi Heavy Industries, and Air Squared. Mergers, acquisitions, product launches, investments, and collaborations are popular market strategies major market stakeholders employ to achieve competitive advantage and recognition in their respective sectors.

Hitachi

Overview: Hitachi is a company that makes and sells electrical equipment. IT, Energy, Industry, Mobility, Life, Hitachi High Technologies, Hitachi Construction Machinery, Hitachi Metals, Hitachi Chemical, and Others are its segments. The firm was established in 1910 and is based in Tokyo, Japan. The company currently holds 81 subsidiaries and 23 affiliates across the globe and employs over 24,873 personnel.

Product Portfolio:

HISCREW NEXTⅡseries Compressor: The HISCREW NEXTII series oil-flooded rotary screw compressors represent Hitachi's air compressor technology expertise. The HISCREW NEXTII series is a suitable air compressor for industries because of its outstanding reliability, high efficiency, industry-leading performance, low noise, power savings, and simple maintenance.

Key Development:

Hitachi announced the formation of Hitachi Industrial Holdings Americas, Inc. on April 1, 2020, to expand its industrial operations in North America. Sullair, LLC, which operates in the air compressor business, and JR Technologies Group, which operates in the robotic SI sector, are merged into the new company. Hitachi Industrial Holdings Americas will operate in North America under Hitachi's Industry sector to conduct integrated business operations.

Why Purchase the Report?

To visualize the global industrial air compressor market segmentation based on product, technology, power, lubrication, application and region, as well as understand key commercial assets and players.

Identify commercial opportunities in the global industrial air compressor market by analyzing trends and co-development.

Excel data sheet with numerous data points of industrial air compressor market-level with four segments.

PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.

Product mapping available as excel consisting of key products of all the major market players

The global Industrial Air Compressor market report would provide approximately 77 tables, 76 figures and almost 190 pages.

Target Audience 2023

Manufacturers/ Buyers

Industry Investors/Investment Bankers

Research Professionals

Emerging Companies