Industrial Air Compressors Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The industrial air compressors market was valued at USD 14.52 billion in 2020 and is expected to reach a value of USD 17.43 billion by 2026, at a CAGR of 3.1% during the forecast period from 2021 - 2026. The air compressors are generally used for a wide range of businesses worldwide to deliver compressed air to power complex industrial processes. Heavy-duty industrial air compressors are developed to provide higher pressure levels, as they rely on high horsepower motors and heavy-duty components. In the agricultural facilities, these are used to spraying crops and ventilating silos, powering pneumatic machinery in the manufacturing industries, and oil and gas operations, among others.
Key HighlightsThe players in the market, such as Atlas Copco Group, Ingersoll Rand Inc.(Gardner Denver Inc.), Kaeser Kompressoren, Inc., and Mitsubishi Heavy Industries Compressor Corp are engaged in maintaining a competitive edge in the market. This has intensified the competitive rivalry in the market, and therefore, the market concentration is low.
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