Rising investments in mechanical equipment are set to drive the growth of the industrial air compressor market in the coming years. According to an analysis by Future Market Insights (FMI), the market was valued at approximately USD 3.12 billion in 2023, with CAGR 8.2%
The COVID-19 pandemic has significantly impacted the global economy, resulting in the complete shutdown of supply chain networks and manufacturing operations. This disruption led to a considerable decline in the industrial air compressor market’s growth. However, as economic activities resume following the pandemic’s containment, the market is expected to recover.
Manufacturers are increasingly focusing on developing digitally controlled systems, including automated and digitalized compression solutions. This trend is anticipated to create favorable growth opportunities for industrial air compressors. Furthermore, the rising demand from the oil and gas sector will remain a crucial growth driver. The report indicates that both the oil and gas and automotive and transportation industries are expected to generate the highest sales in the market throughout the forecast period, providing attractive growth prospects in the near future.
Key Takeaways from the Industrial Air Compressor Market Study
- Industrial air compressor market will register a CAGR of ~4.6% over the forecast period of 2021-2031
- Expansion of oil exploration activities have placed the U.S. as a chief market, which accounts for over 70% sales within North America
- Improving production in the automotive sector will fuel demand in the U.K., enabling above 6% y-o-y growth in 2021 in terms of value
- Application across diverse sectors will drive growth in industrial air compressor market in Germany and France
- Rising demand for power generation will push growth in Japan and China
Competitive Landscape
The industrial air compressor market is highly consolidated, in which the leading players account for more than three fourths of the market share. The penetration of small regional players makes this market more competitive. Some of the key players in the market are Atlas Copco, Baker Hughes, Anest Iwata Corporation, General Electric, Hitachi Industrial Equipment Systems Co., Ingersoll Rand, Burckhardt, MAN SE, Siemens Energy AG, Ariel Corp., and Bauer Kompressoren GmbH, among others. These players have higher shares in the global market, and have longstanding relationships with a number of end users, giving them an upper hand over their peers.
Some of the key players operating in the market profiled by FMI are:
• Atlas Copco
• Baker Hughes Company
• Bauer Kompressoren GmbH
• Burckhardt
• ELGi
• GE
• 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
Industrial air compressor market with detailed segmentation:
By Technology
• Rotary
• Reciprocating
• Centrifugal
• Axial
By Capacity
• Upto 500 HP
• 500 – 2000 HP
• 2000 – 5000 HP
• 5000 – 12000 HP
• 12000 – 20000 HP
• Above 20000 HP
By Compression Stage
• Single Stage
• Double Stage
• Multistage
By Driver Type
• Electric
• Natural Gas
• Fuel Driven
By End Use
• Automotive and Transportation
• Oil and Gas
• Power Generation
• Chemicals
• Food and Beverages
• Pharmaceuticals
• Mining and Metals
• Industrial Air Separation
• Other manufacturing
By Region
• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East and Africa (MEA)
Report Preview: https://www.futuremarketinsights.com/reports/industrial-air-compressor-market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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