Global Industrial Air Compressor Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Industrial Air Compressor Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

An industrial air compressor is a device that uses an electric motor or a diesel or gasoline engine to convert power into potential energy stored in pressurized air. Although they are functionally similar to industrial pumps, compressors are used exclusively for air and gas pressurization, while pumps are used exclusively for liquids such as water and oil.

Market Overview:

The latest research study on the global Industrial Air Compressor market finds that the global Industrial Air Compressor market reached a value of USD 11636.87 million in 2022. It’s expected that the market will achieve USD 15909.02 million by 2028, exhibiting a CAGR of 5.35% during the forecast period.

Influence of COVID-19 Outbreak on Industrial Air Compressor Industry Development

The COVID-19 epidemic spread to more than 210 countries and regions around the world in three months, affecting nearly 7 billion people. The coronavirus epidemic has impacted all aspects of human health, economic growth, social development, national security, and international relations. It is a comprehensive challenge. The epidemic has drastically reversed expectations of moderate growth in the world economy in early 2020. After the outbreak, the employment situation in various countries has become more severe. Global investors panic, triggering turmoil in the financial and capital markets. The epidemic has caused huge losses to related industries and international trade. From the perspective of the general background, exports, consumption, and investment are driving the economy. After the outbreak of the epidemic, consumption, exports, and investment have all been affected to some extent. Therefore, the global economic downturn is inevitable.
More than one million lives have been lost to COVID-19 since the start of 2020 and the toll continues to rise. Many more have suffered a serious illness. Close to 90 million people are expected to fall into extreme deprivation this year. Compared with the IMF report released in June, the global economic contraction in 2020 will not be as severe as previously predicted. This revision reflects a better-than-expected economic recovery in the second quarter. Global growth is projected at 5.2 percent in 2021, a little lower than in the June 2020 WEO Update, reflecting the more moderate downturn projected for 2020 and consistent with expectations of persistent social distancing. This is the worst global recession in decades, despite the huge efforts of governments with the support of fiscal and monetary policies to deal with the economic downturn. But from a long-term perspective, it is expected that the severe recession caused by the pandemic will cause a prolonged economic depression by reducing investment.

Industrial Air Compressor Drivers

With the continuous development of global economy and technology over the years, the industrial air compressor industry is also constantly developing. Industrial air compressors are widely used in various industries, including manufacturing, construction, and food industries. The main function of industrial air compressors is to drive industrial equipment, and because air compressors have more advantages than electricity and hydraulics, air compressors have begun to replace the other two products in some industries. This has led to the continuous growth of downstream market demand and is one of the main factors driving the development of the air compressor industry.

Industrial Air Compressor Market Challenges

Systematic energy-saving management refers to the transformation of energy-saving services for compressed air systems from energy-saving control of a single device to energy-saving design and integrated management of the entire compressed air system. At present, the energy-saving services provided for air compressor systems on the market are mainly limited to the replacement of low-efficiency to high-efficiency air compressors, compressor frequency conversion transformation, and joint control of several compressors, with few other methods. However, due to unreasonable compressor group configuration, unmatched operating load, high supply pressure setting, unreasonable pipe network design, extensive terminal gas management, and lack of leak detection methods, the current air compressor system still has a large number of inefficiencies. And waste. Systematic energy-saving can change the original extensive way of energy-saving work, solve the problem of unreasonable air compression system cluster configuration, and improve the work efficiency of the air compressor system. The use efficiency of terminal gas energy can also be improved by means such as leak detection and the anastomosis of gas energy equipment.
In the future, energy-saving services in the field of air compressor systems will develop in the direction of systematic management, refined management, and improving the efficiency of terminal air consumption. For now, systematic energy-saving management is challenging for most manufacturers in the industrial air compressor industry.

Region Overview:

From 2022-2027, Europe is estimated to witness robust growth prospects.

Company Overview

The top three companies are Atlas Copco, Ingersoll Rand Inc. and Kaeser Kompressoren with the revenue market share of 22.33%, 13.81% and 9.85% in 2020.

Atlas Copco (Copco from Compagnie Pneumatique Commerciale) is a Swedish multinational industrial company that was founded in 1873. It manufactures industrial tools and equipment. The Atlas Copco Group is a global industrial group of companies headquartered in Nacka, Sweden. Atlas Copco companies develop, manufacture, service, and rent industrial tools, air compressors (of which it is the world's leading producer), construction and assembly systems. The Group operates in four areas: Compressor Technology, Vacuum Technology, Power Technology and Industrial Technology.

Ingersoll Rand Inc., founded in 1859, is an American worldwide provider of industrial equipment, technologies and related parts and services to a broad and diverse customer base through a family of brands. The company has over 30 manufacturing facilities located in the Americas, Europe, the Middle East, and Asia Pacific with offices in 35 different countries. Based in Milwaukee, Wisconsin, it operates in three groups: the Industrials Group, Energy Group, and Medical Group.

Segmentation Overview:

By type, Positive Displacement segment accounted for the largest share of market in 2021.

Application Overview:

By application, the Manufacturing segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Industrial Air Compressor market covered in Chapter 3:

Elgi Equipment
Kaishan Compressor
Kaeser Kompressoren
Airstream Compressors
Ingersoll Rand Inc.
Atlas Copco
Kobelco Compressors
Hitachi
Doosan Infracore

In Chapter 4 and Chapter 14.2, on the basis of types, the Industrial Air Compressor market from 2018 to 2029 is primarily split into:

Positive Displacement
Dynamic

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Industrial Air Compressor market from 2018 to 2029 covers:

Manufacturing
Oil & Gas
Food & Beverages
Construction
Chemicals & Petrochemicals
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)