Air Compressors Market is valued around USD 21.55 Billion in 2019 and expected to reach USD 32.06 Billion by 2030 with the CAGR of 3.6% over the forecast period.
Air compressors are used for the generation of kinetic energy which is used as power supply for other equipment’s. The kinetic energy is stored in the form of compressed air by the means of positive & negative displacement. Air compressors have wide application in different industries to further enhance the productivity. It also simplified the transportation of fluids and gases over a large distance.
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Global Air Compressors Market report is segmented on the basis of type, lubrication, power rating, technology, end user and by regional. Based upon type, the air compressors market is fragmented into portable and stationary. On the basis of lubrication, the market is categorized into oiled and oil free. Based on technology, the market is fragmented into reciprocating, rotary, and centrifugal. On the basis of power rating, the market is categorized into 0-100 kW, 101-300 kW, 301-500 kW, and 501 kW & above. On the basis of end user, the market is divided into food & beverage, oil & gas, manufacturing, medical, power generation, and others. The regional bifurcation of countries includes North America, Europe, Asia-Pacific, and RoW which are further segmented into major countries such as U.S., UK, France, and others.
The air compressors market is mainly driven by the constant expansion of application from different end users. There has been growth in the adoption of air compressors owing to the improved production & efficiency along with technological advancement. In addition to the rapid industrialization & urbanization in the developing region owing to the large population base along with easy availability of raw materials in near future. Moreover, surge in disposable income led to the amplified use of home appliances are likely to fuel the market growth. However, high cost of installation followed by emission of greenhouse gas with high sound led to noise pollution which hampers the market growth in near future.
The developed regions such as North America and Europe are expected to hold the major market share owing to the presence advanced technology along with surge in the adoption of air compressors as well growth in the adoption of home appliances. Asia Pacific is expected to dominate the air compressors market in terms of growth rate owing to the growth in industrialization & urbanization with amplified demand of productivity from large population base. In addition, constant expansion of application in different industries supported by the presence of developing economies as well as low labor cost in the region.
The major market players profiled in the air compressors market includes AireTex Compressor, Bauer Group, Atlas Copco, BelAire Compressors, Cook Compression, Frank Compressors, Compressor Products International (CPI), Galaxy Auto Service Equipment Co. Ltd., Gast Manufacturing, Inc., Ingersoll Rand Plc, GENERAL ELECTRIC, MAT Industries, LLC, Kaeser Compressors and Sullair LLC among others.