Global Air Compressor Market Scope Report

Global Air Compressor Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global air compressor market is estimated to garner a revenue of ~USD 44 billion by the end of 2033 by growing at a CAGR of ~3% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 33 billion in the year 2022. Air compressors are devices, pneumatic in nature, and use to increase air pressure by forcing air into a storage tank until it reaches its engineered upper limit. Then the compressor turns off and stores the air in the tank till its usage and again turns on to repressurize the tank once it reaches the lower limit. The immense growth of the oil and gas industry, which relies a lot on air compressors, is the primary factor driving the growth of the global air compressor market. It is estimated that in January 2022, about 119,101 were observed to be involved in the production of oil and gas.

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The growth of the industry followed the rearrangement of operations by companies trying to recover from the impact of the pandemic. Air compressors are used in oil and gas fields as facilities maintaining and boosting the gas pressure as moving through the pipelines, first to the suppliers and then to the final consumers. Reciprocating compressors are mostly used for this purpose.

Global Air Compressor Market: Growth Drivers and Challenges

Growth Drivers

• Considerable Growth in Energy Consumption – In 2021, global energy consumption was observed to rebound following COVID-19 by ~6%. The main reasons for the steady increase in energy consumption throughout the years were the development in aspects including the economy, society, and technology. Of these, economic development is the main driving factor, and it leads the growing economies in the world to greater energy consumption with the rise in their standard of living. It is in this scenario that air compressors become relevant as they help in reducing energy wastage.

• Very Large Number of Auto Workshops – It is estimated that there was a total of about 239,101 auto repair centers in the United States (U.S.) towards the end of 2021.

• Rapid Growth of Industrialization – About 754 million people are thought to have worked in industries in 2021.

• Growing Number of Construction Projects – The total count of new home construction in the U.S. only in August 2022 reached up to 2 million units.

Challenges

• Disruptions in Supply Chain During COVID-19

• Temporary Halt in Industrial Functions during the Pandemic

• Decline in Commercial Activities during the Pandemic

The global air compressor market is segmented and analyzed for demand and supply by application into manufacturing, semiconductors & electronics, food & beverage, health/medical, home appliances, energy, oil & gas, and others. Of these, the manufacturing segment is anticipated to hold the largest market size by the end of 2033. The segmental growth should be attributed to the industrial growth in developing countries, including India, Brazil, and China, and the need for efficient and advanced air compressors in the manufacturing industry. For instance, industrial production in India reached an all-time high of ~134% in April 2021.

Global Air Compressor Market Regional Synopsis

Regionally, the global air compressor market is studied into five major regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in the Asia Pacific region is projected to hold the largest market share by the end of 2033. The regional market growth is mainly attributed to the large manufacturing sector, industrial developments, favorable government policies, and the huge flow of foreign direct investment (FDI) into the region. A growth of ~18% was observed in the greenfield FDI projects in the region in 2021.

Market Segmentation

Our in-depth analysis of the global air compressor market includes the following segments:

Key Companies Dominating the Global Air Compressor Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global air compressor market that are included in our report are Atlas Copco Compressors LLC, KOBE STEEL, LTD., ELGi EQUIPMENTS LTD, Ingersoll Rand Inc., Kirloskar Pneumatic Company Limited, Mitsubishi Heavy Industries Compressor Corporation, Sulzer Ltd, EBARA CORPORATION, BAUER COMPRESSORS, INC., Cook Compression, and others.

Global Air Compressor Market: Latest Developments

• September, 2022: BAUER COMPRESSORS, INC. – announced organizing excursion trains working on compressed air instead of batteries, or fossil fuels.

• June, 2020: Sulzer Ltd – announced investment towards the acquisition of 25% of Tamturbo Plc, a technology company manufacturing oil-free industrial air compressor system.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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