New environmental regulations, high energy costs, and aggressive sustainability goals are the primary growth drivers of the air compressor market. According to a freshly compiled business intelligence report by Industry ARC, the global air compressor market generated $19.2 billion in revenue in 2018. The global demand for air compressors market size is projected to rise at a compound annual growth rate (CAGR) of 4.28% during the forecast period 2019-2025.
The Industry ARC report is titled “Air Compressor Market: By Type (Portable, Stationary); By Technology (Reciprocating, Rotary and Centrifugal); By Lubrication Type (Oil lubricated, Oil-free) & by region – Forecast (2019 – 2025).” It incorporates an in-depth assessment of the competitive landscape, market drivers, revenue and trend research, end-user industries, production life cycle, market trends, mergers and acquisitions, market life cycle analysis, market entropy, financial analysis, supply and demand analysis, and strategic analysis of the global air compressor market.This report covers Air Compressor Market Size by Product and applications, Air Compressor Market share by top 5 companies and also the market share by start-ups during the forecast period 2019-2025.
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Air Compressor Market: Leading Segments
The need to replace old units with new oil-free centrifugal air compressors to reduce cooling and maintenance costs, and improve air quality in manufacturing industries is increasing every day. This demand to modernize air compressors in manufacturing industries is driving the air compressor market growth. Thus, the demand for air compressors in tech manufacturing and energy industries’ is projected to grow at a CAGR of 6.78% over the forecast period. Air compressors find applications not only in manufacturing, oil and gas, and transportation industries but also in end-user verticals such as vacuum packaging, spray painting, air blowing, cleaning, and medical equipment.
The APAC countries such as China, and India are witnessing a major demand for air compressors. Positive displacement compressors and rotary compressors are extensively used in manufacturing, power, automotive, and food industries, while centrifugal compressors are widely used in heavy industries such as oil and gas. The APAC region accounted for 31.86% share of the global air compressor market in 2018. The growth of the air compressor market is majorly attributed to the rapid industrialization in emerging countries of APAC.
Air Compressor Market: Trends
• Evolution of compact, oil-lubricated rotary screw compressors enable industries to reduce energy consumption unlike traditional compressors.
• Air compressors that have latest adaptive controllers monitor performance metrics and adjust automatically as per the application needs, subsequently improving performance, and reducing downtime risks.
• Rising demand for oil-free air-compressors is expected in the next few years as environmental awareness grows. These oil-free air-compressors have benefits in electronics, healthcare, and food & beverages industries.
Air Compressor Market: Competitive Landscape
Mitsubishi Heavy Industries, Atlas Copco AB, Ebara Corporations, Suzler Ltd., Ebara Corp, Ingersoll-Rand plc, Ebara Corporations, Suzler Ltd., Ebara Corp, Ingersoll-Rand plc, Kirloskar Pneumatic Company Limited, Kobe Steel Ltd., Sullivan-Palatek, Inc. are a few playersoperating with a large share in the global air compressor market.
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A. Indian Air Compressor Market
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