Air Compressor Market Drivers, Competitive Landscape and Revenue Forecast till 2028

Posted on 2022-10-04 by researchinsights in Industrial // 0 Comments

San Francisco, California , USA, Oct 04, 2022 — /EPR Network/ —

Air Compressor Industry Overview

The global air compressor market size was valued at USD 32.02 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.4% from 2021 to 2028.

With the burgeoning need to control the spread of the COVID-19 infection, governments around the world implemented strict national lockdowns in 2020. This, in turn, hampered the growth of various sectors and industries. Likewise, the market for air compressor was also affected by the pandemic, witnessing a significant decline in sales and profits. Furthermore, the increasing cases of COVID-19 in various countries due to the second wave resulted in partial lockdowns across the globe. This has subsequently impacted the investments in the oil and gas industry along with the growth of the market.

Gather more insights about the market drivers, restrains and growth of the Global Air Compressor market

However, post COVID-19, an increasing focus on energy efficiency, energy recovery, and reduction of CO2 emissions is expected to propel the demand for air compressors. The increased demand for services and monitoring of compressed air installations is also expected to drive revenue growth during the forecast period. Furthermore, a rise in demand for air compressors from the food & beverage market due to stringent regulations on food safety & health is anticipated to drive the market. An increase in investments in oil & gas extraction activities in the North American and Middle Eastern countries is also expected to contribute to the growth of the air compressor market.

The growing adoption of variable-speed systems, low maintenance cost, effective operation, and retrofitting for existing systems are some factors propelling the demand for air compressors across key end-use industries. Energy-efficient compressors are witnessing a surge in demand owing to their cost-effective operations. However, the growing number of gas compressor stations has led to increasing concerns around air quality. Hence, air monitoring systems are widely being installed for measuring the impact of air and gas compressors. Additionally, the subsequent introduction of non-oil and gas-based projects, and continuous investments in the industry, is driving the demand for air compressors.

Prominent players are developing eco-friendly and low-maintenance systems to encourage end users to opt for next-generation products. Companies such as Ingersoll Rand Plc and Atlas Copco Inc. have developed next-generation systems with high-performance capabilities to differentiate their products in a highly competitive market. Some of the key features offered by these air compressors include increased efficiency and reduced noise levels.

The demand for innovative compressors that offer high cost-saving techniques and eliminate the need for supplementary devices has witnessed significant growth across various applications. The increasing focus of consumers on the total solution and lifecycle cost is providing new growth avenues for energy-efficient air compressors. Additionally, the increasing use of compressed air in industrial power tools is also driving market growth.

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Air Compressor Market Segmentation

Grand View Research has segmented the global air compressor market based on type, product, lubrication, application, and region:

Air Compressor Type Outlook (Revenue, USD Million, 2018 – 2028)

Portable
Stationary

Air Compressor Product Outlook (Revenue, USD Million, 2018 – 2028)

Reciprocating/Piston
Rotary/Screw
Centrifugal

Air Compressor Lubrication Outlook (Revenue, USD Million, 2018 – 2028)

Oil-Filled
Oil-Free

Air Compressor Application Outlook (Revenue, USD Million, 2018 – 2028)

Manufacturing
Semiconductors & Electronics
Food & Beverage
Healthcare/Medical
Home Appliances
Energy
Oil & Gas
Others

Air Compressor Regional Outlook (Revenue, USD Million, 2018 – 2028)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Air Compressor market include

AireTex Compressor
Atlas Copco
Bauer Group
BelAire Compressors
Cook Compression
Compressor Products International (CPI)
Frank Compressors
Galaxy Auto Stationary Equipment Co. Ltd.
Gast Manufacturing, Inc.
GENERAL ELECTRIC
Ingersoll Rand Plc

Order a free sample PDF of the Air Compressor Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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