Air Compressor Market Size By Product (Portable, Stationary), By Technology (Rotary, Reciprocating, Centrifugal), By Lubrication (Oil Free, Oil Filled), By Application & Forecast 2023 - 2032

Air Compressor Market Size By Product (Portable, Stationary), By Technology (Rotary, Reciprocating, Centrifugal), By Lubrication (Oil Free, Oil Filled), By Application & Forecast 2023 - 2032

Global Air Compressor Market is slated to expand substantially through 2032 owing to the fast-paced industrial development in the Asia Pacific region due to the availability of inexpensive labor and raw material.

The air compressor industry has seen rapid technical advancements as a result of rising investments R&D projects by companies for making improved and advanced air compressors. Moreover, the market for air compressors should see considerable development potential as manufacturers put more effort into creating cutting-edge, effective products. For instance, Emerson introduced new Copeland scroll compressors for commercial uses in January 2020 to comply with CARB refrigerant requirements and to increase efficiency.

The air compressor market has been divided in terms of product, technology, lubrication, application, and region.

Based on product, the portable segment is speculated to grow positively through the forecast period. The expansion of the portable air compressor industry is anticipated to be driven by escalating construction of offshore oil rig, growing oil exploration, and mining operations, and rising construction activity in developing nations.

With respect to technology, the screw segment is set to amass more than USD 34 billion by 2032 attributed to its increased capacity, continuous operation, and reduced flow spiking. Screw air compressors have been taking the place of piston compressors and are rapidly gaining favor over the years.

In terms of lubrication, oil filled segment is projected to expand considerably over the review period. The oil-filled air compressors are widely used to run pneumatic drilling gear used for mining, drilling, and quarrying applications. The need for oil-filled compressors will increase in the next years due to increased oil and gas exploration. In 2021, the world produced approximately more than 4 billion tons of oil.

On the basis of application, the energy segment is estimated to grow substantially over the analysis timeframe. Increasing technological improvements in power generation systems, liberalization and privatization of energy production in many nations, and implementation of energy-efficient facility layouts are expected to foster segmental growth leading to higher air compressor demand.

From the regional front, the Latin America air compressor market is anticipated to grow at 3% CAGR from 2023 to 2032. The development of manufacturing sectors in the region will fuel demand for air compressors due to affordable labor costs and the easy availability of abundant land as well as raw materials.