Industrial Air Compressor Market Forecasts to 2028 – Global Analysis By Driver (Electric, Natural Gas), Design (Stationary, Portable), Pressure Up To 20 Bar, 21–100 Bar, Above 100 Bar,) and By Geography

Industrial Air Compressor Market Forecasts to 2028 – Global Analysis By Driver (Electric, Natural Gas), Design (Stationary, Portable), Pressure Up To 20 Bar, 21–100 Bar, Above 100 Bar,) and By Geography

According to Stratistics MRC, the Global Industrial Air Compressor Market is accounted for $33.95 billion in 2021 and is expected to reach $56.69 billion by 2028 growing at a CAGR of 7.6% during the forecast period. An industrial air compressor uses either an electric motor or diesel or gasoline to convert power to potential energy stored in pressurized air. Industrial air compressors have been used in several applications such as for spraying crops, ventilating silos in agricultural facilities, running pneumatic machinery in manufacturing operations, and operating laundry pressers in dry cleaners.

Market Dynamics:

Driver:

Technological Modernizations and High Demand for Portable Air Compressor

As there are developments in technology, more industries are harnessing the potential of compressed air as an energy alternative and users of air compressors trade up their equipment for newer models. Replacement of equipment with new and improved technology air compressors leads to boosted efficiency, greater ease of use, and overall savings in operating costs. These qualities have been compelling users of air compressors to replace their machines regularly, thereby driving the market growth. The increasing popularity of air compressors is the innovation that goes into newer models in the air compressors market. As manufacturers in India have been announcing new types of reciprocating and rotary screw air compressors, the machines become more robust, easier to operate, and better equipped for some of the most demanding applications across a wide range of industrial uses.

Restraint:

High Cost & Maintenance

The air compressors are extremely susceptible to over-heating. Compressed air can generate lots of heat and all that hot air has to be removed before it reaches the warning temperature as it can cause damage to the system. The cost of it ranges from $100-$600 depending on the application. Other hidden costs such as installation and operational costs associated with it restrain the market growth. High temperature may cause damage to the air compressor over some time, so identifying a temperature problem early is critical. Therefore, high cost and maintenance problems have been hampering the growth of the market.

Opportunity:

Growing Demand for Energy-Efficient Air Compressors

With a growing focus on energy costs and rising greenhouse gas emissions, attention has shifted toward the use of energy-efficient compressed air solutions. A compressed air system is one of the key industry equipment that has to follow energy policy. Meanwhile, easy and safe generation of compressed air is increasing the use of air compressors in various industrial applications. According to the US DOE, 50% of industrial plant air systems harbor opportunities for large energy savings with relatively low project costs. To achieve energy savings, compressed air systems require proper maintenance and high-level monitoring. This results in an enhanced life cycle of pneumatic devices and ensures higher reliability of compressed air systems. Modern compressors can achieve long-term savings and ensure a cleaner environment. Environment-friendly compressors need less fuel and make less noise. Also, the modern generation air compressor systems have a heat recovery feature, which helps recover up to 94% of the heat generated by the compressors. This recovered energy can be used for pre-heating of the feed water or air. This is a major advancement for power generation industries. The modern air system also recommends using IE4 compliant motors as they help reduce electricity consumption.

Threat:

Adherence to Rigorous Quality Standards

The countries have introduced new emission standards for compressors to improve air quality by decreasing the discharge of contaminants. The criteria are often rationalized time-to-time, which may need the manufacturer to make radical adjustments in the design and performance of the industrial air compressors. Also, contagion of compressed air is a severe issue for several industries such as food & beverages, healthcare, pharmaceuticals, and chemicals. A safer compressed air supply is required to uphold an efficient and cost-effective production. The majority of the industrialized nations have imposed stringent rules and regulations, which must be adhered to during the use of compressors, to limit the emission of contaminants by air compressors and prevent health hazards due to contaminated compressed air. Additionally, in the compressed air industry, standards may also be produced by trade associations such as PNEUROP (European Association of Manufacturers of Compressors, Vacuum Pumps, Pneumatic Tools, and Air & Condensate Treatment Equipment) and CAGI (United States Compressed Air and Gas Institute).

Oil-Flooded segment is expected to be the largest during the forecast period

Oil-flooded segment is expected to have largest share, due to the advancement of food grade oils and increasing usage as they are more economical and generally complete the compression process in a single stage. These compressors are generally used in industries such as plastics, oil & gas, rubber, textiles, metals, and mining, among others, where cleaner compressed air requirement is optional. Oil-flooded compressors use oil to lubricate the air compression chamber, lubricate parts, and seal in the air.

The rotary segment is expected to have the highest CAGR during the forecast period

The rotary segment is expected to have the highest CAGR, due to the high adoption of rotary air compressors in large industrial applications. These compressors are further bifurcated into scroll, screw, and a few other technologies such as lobe & vane. Rotary air compressors have been replacing the reciprocating industrial compressors since the past few years and are likely to continue in the upcoming years. They require minimum maintenance, offer better efficiency, and possess comparatively lower preliminary costs.

Region with highest share:

The Asia Pacific is projected to hold the highest market share, owing to the growth of industries such as chemicals and petrochemicals, manufacturing, power generation, pharmaceuticals, and food and beverages. It is driven by increasing industrialization and development activities in the emerging economies of the region. China leads the vehicle production by a distinguished margin. These factors along with the electronic sector progress in India, China, South Korea, and Japan will indicate the regional industrial air compressors demand.

Region with highest CAGR:

North America is projected to have the highest CAGR, owing to the growth potential from varied industries, high adoption due to availability of energy-efficient products, demand for technologically advanced & low-cost products, and others. However, each factor has its definite impact on the market. Increasing application of oil-free compressors in healthcare industries due to stringent regulation has been proliferating the market growth. Additionally, the growing adoption of portable air compressors and replacement of older equipment with new models have been creating opportunities for the market across this region.

Key players in the market:

Some of the key players profiled in the Industrial Air Compressor Market include Atlas Copco, Baker Hughes Company, Bauer Kompressoren GmbH, Burckhardt, Elgi Equipments, General Electric Company, Hitachi Industrial Equipment Systems Co., Howden Group, IHI Corporation, Ingersoll Rand, Kaeser Kompressoren, Kaishan Compressor Co. Ltd, Kobelco Compressors, MAN SE, Mitsubishi Heavy Industries, Ltd, Quincy Compressor, Siemens Energy AG, Sullair LLC.

Key developments:

In February 2020: Atlas Copco acquired Dr. Gustav Gail Drucklufttechnik GmbH, a German distributor of industrial compressors and services. The company will be part of the service division within the compressor technique business area of Atlas Copco

In December 2019: ELGi had launched electric and diesel portable air compressor which is of energy efficient at an international exhibition Centre, EXCON 2019. Adoption of this type of air compressors in various industries for energy efficiency set to increase the Indian air compressor market share.

In March 2021: Hitachi Global Life Solutions, a subsidiary of Hitachi, signed an agreement to transfer all outstanding shares of Hitachi Compressor (Thailand), Ltd., a wholly owned subsidiary in Thailand that manufactures compressors for refrigerators, to Midea Electric Trading (Singapore) Co. Pte, Ltd., a subsidiary of China's Midea Group and a trading company for home appliances sales.

Drivers Covered:
• Electric
• Natural Gas
• Fuel Driven

Designs Covered:
• Stationary
• Portable

Pressures Covered:
• Up To 20 Bar
• 21–100 Bar
• Above 100 Bar

Output Powers Covered:
• Up To 50 kW
• 51–250 kW
• 251–500 kW
• Above 500 kW

Seal Types Covered:
• Oil-Flooded
• Oil-Free

Coolant Types Covered:
• Air-Cooled
• Water-Cooled

Products Covered:
• Positive Displacement
• Dynamic Displacement

Compression Stages Covered:
• Single Stage
• Double Stage
• Multistage

End Users Covered:
• Chemicals & Petrochemicals
• Food & Beverages
• Oil & Gas
• Pharmaceuticals
• Construction
• Automotive & Transportation
• Packaging (Includes PET Blowing)
• Power Generation
• Healthcare
• Metals & Mining
• Manufacturing
• Other End User

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances