Air Compressor Market by Type (Portable and Stationary), by Technology (Reciprocating, Rotary, and Centrifugal), by Lubricant Method (Oil-free and Oiled), by Power Ratings (1–100 KW, 101–300 KW, 301–500 KW, and More than 500 KW), and by End User (Food & Beverage, Oil & Gas, Manufacturing, Power Generations, Medical, and Others) – Global Opportunity Analysis and Industry Forecast, 2024–2030
Air compressor market was valued at USD 29.89 billion in 2023, and is slated to reach USD 40.82 billion by 2030, due to increasing utilization of air compressors in the automotive industry.
Air Compressor Market
Domain - Construction & Manufacturing
Sub Domain - Heavy Machinery
The Air Compressor Market size was valued at USD 29.89 billion in 2023, and is predicted to reach USD 40.82 billion by 2030, with a CAGR of 4.6% from 2024 to 2030.
The healthcare industry's expanding use of air compressors for diverse applications, including respiratory therapy, dental equipment, surgical instruments, and laboratory processes, is a pivotal driver in the growth of the air compressor market. These compressors play a fundamental role in enhancing the efficiency and precision of critical medical functions, such as powering dental tools to provide clean and regulated air for respiratory devices. Additionally, they support sterilization procedures, medical imaging equipment, and blood separation processes, ensuring the highest standards of patient care and safety. As the healthcare sector continues to evolve and expand, the demand for reliable compressed air systems remains on the rise, making the healthcare industry a significant contributor to the growth of the air compressor market.
Furthermore, the air compressor market is booming, owing to the automotive industry's increasing reliance on these versatile machines. Air compressors are indispensable for various automotive tasks, such as inflating tires that are crucial for road safety and vehicle performance and powering pneumatic tools such as impact wrenches for efficient assembly. They also play a key role in ensuring precise and uniform painting and spray coating, which is essential for vehicle design. The adaptability of air compressors is a major reason for their soaring demand in the automotive sector, addressing needs across manufacturing, repair, maintenance, and finishing processes. Technological advancements, especially in energy-efficient models, further drive this growth as automakers aim to reduce energy consumption and environmental impact. Consequently, the air compressor market continues to be pivotal in enhancing the efficiency and quality of automotive operations.
On the contrary, the noise and air pollution caused by air compressors, particularly in industrial environments, create difficulties in meeting noise regulations. Furthermore, emissions and particulate matter discharged during compressor operation contribute to air pollution, giving rise to environmental worries and potential health hazards. This factor, in turn, restrains the growth of the market.
However, the air compressor market is set to experience significant growth with the introduction of air compressors integrated with the Internet of Things (IoT) technology. These IoT-enabled compressors are anticipated to improve efficiency, decrease downtime, enable predictive maintenance, and offer real-time monitoring and control, creating promising opportunities for the market expansion. As industries increasingly adopt smart and connected solutions, the introduction of IoT-enabled air compressors is expected to play a crucial role in shaping the market's future.
Segment OverviewThe global air compressor market is segmented on the basis of type, technology, lubricant method, power ratings, end user, and region.
• By type, the market is divided into portable and stationary
• By technology, the market is categorized into reciprocating, rotary, and centrifugal.
• By lubricant method, it is segmented into oil-free and oiled.
• By power ratings, the market is divided into 1–100 KW, 101–300 KW, 301–500 KW, and more than 500 KW.
• By end user, the market is classified into food & beverage, oil & gas, manufacturing, power generation, medical, and others.
• Region-wise, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world (RoW).
Asia-Pacific is projected to hold the dominant share by 2030
The booming construction and infrastructure industry in the Asia-Pacific region is playing a pivotal role in driving the demand for air compressors. With increasing urbanization, a growing population, and expanding industrial activities, there is a surging demand for construction and development projects. As the construction and infrastructure sectors in the Asia-Pacific region continue to thrive, the air compressor market is experiencing significant growth, providing the necessary compressed air power for these dynamic and rapidly evolving industries.
For instance, in August 2022, the Chinese government announced the plans for a massive investment of approximately USD 1 trillion in large-scale infrastructure projects. This investment is expected to provide a substantial boost to the construction and infrastructure sectors in China, driving the demand for construction machines, including air compressors.
Moreover, the expansion of manufacturing and automotive industries in the Asia-Pacific region is a pivotal driver behind the growth of the air compressor market.
This growth is driven by the increasing production of vehicles, technological advancements in manufacturing processes, increasing consumer demand for automobiles, and the drive toward more eco-friendly and energy-efficient practices to meet environmental regulations. Air compressors are indispensable in this industry, powering various manufacturing and service-related tasks and as a linchpin for the region's extensive automotive supply chains. As the Asia-Pacific automotive market remains fiercely competitive, air compressors play a vital role in enhancing production efficiency and reducing operational costs, ensuring their continued significance in this ever-evolving sector.
Key Market Players
The key players in the air compressor market include:• Atlas Copco AB
• Kobe Steel Ltd.
• Elgi Equipment Limited
• Ingersoll-Rand PLC
• Kirloskar Pneumatic Company Limited
• Mitsubishi Heavy Industries Ltd.
• Sulzer Ltd.
• Ebara Corporations
• Porter Cable
• VMAC Global Technology, Inc.
Recent DevelopmentsAugust 2023
Doosan Bobcat launched a new 150 HP industrial air compressor, further expanding its product offerings in the industrial equipment sector. The launch of the new 150 HP industrial air compressor was aimed toward the diverse needs of industrial applications, delivering reliable compressed air solutions.
May 2023
Atlas Copco launched its battery-driven portable screw air compressor for sustainable and emission-free construction equipment. The new battery-driven compressor offers enhanced flexibility, reduced environmental impact, and a quieter operation, aligning with the industry's growing focus on sustainability.
March 2023
Elgi Equipments launched the GP35FP portable air compressor designed for the fiber optic cable-blowing industry. The GP35FP features high maneuverability, ease of transport, and the option for installation on a utility truck or trailer. It also features a moisture separator unit, providing reliable functionality immediately.
KEY BENEFITS• The air compressor market report provides a quantitative analysis of the current market and estimations from 2024 to 2030. This analysis assists in identifying the prevailing market opportunities to capitalize on.
• The study comprises a comprehensive analysis of the air compressor market trends, including current and future trends for depicting prevalent investment pockets in the market.
• The information related to key drivers, restraints, and opportunities and their impact on the air compressor market is provided in the report.
• The competitive analysis of the market players along with their market share in the air compressor market is provided in the report.
• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
• The value chain analysis in the market study provides a clear picture of the roles of stakeholders.