Air Compressor Market Size & Share 2024 to 2032
Market Size by Product (Portable, Stationary), by Technology (Rotary, Reciprocating, Centrifugal), by Lubrication (Oil Free, Oil Filled).
Report ID: GMI377
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Published Date: March 2023
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Report Format: PDF
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Authors:
Kiran Pulidindi, Kunal Ahuja
Air Compressor Market Size
Air Compressor Market size surpassed USD 72.4 billion in 2023 and is poised to record 3.5% CAGR from 2024 to 2032.
Air Compressor Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
Increasing demand for personal and commercial vehicles has accelerated production and sales in the automotive sector in recent years. This trend is largely showcased across Asia Pacific countries like India and China. The rising GDP and living standards of the population across these nations are expected to boost the demand for high-end vehicles and related auto parts like air compressors in the automotive market. An increasing number of people living in middle- and high-income groups in Asia Pacific nations should support this air compressor market growth.
Governing bodies in developing nations have levied stringent regulations for the utilization of air compressors. For instance, in January 2021, the Indian Bureau of Energy Efficiency adopted new energy efficiency policies for air compressors. As per the new policies, it is projected to avoid 18.2 TWh of electricity demand for air compressors. Such regulations would urge manufacturers to spend more on the development of energy-efficient air compressors. However, the development of favorable policies in the coming years will drive industry demand.
Air Compressor Market Analysis
The stationary air compressor market is expected to exhibit around 3.5% growth during 2023 to 2032. The demand for household applications in the countries like China, Brazil, India and others will contribute to sector growth. According to the China Chamber of Commerce for Import and Export of machinery and Electronic Products, in 2022, China’s exports of household appliances like televisions, projectors, and air conditioners to the League of Arab States increased by 11.21% on an annual basis. The rise in exports and self-consumption of these countries is expected to influence the industry outlook.
The industry size from the oil-free lubrication segment is forecasted to cross USD 38 billion by 2032. The growing need for clean and uncontaminated air in the healthcare market will boost the adoption of oil-free air compressors significantly. Indoor air quality in hospitals is vital due to the fear of infection spread. To avoid health issues or deaths due to indoor pollution, especially at a time of a rising number of new infections emerging worldwide, hospitals are anticipated to invest heavily in air purification equipment over the years.
Air compressor market share from the home appliances segment is expected to exceed USD 30 billion by 2032. In addition to being utilized to inflate tires and other inflatable things, air compressors are used in home appliances like air conditioners and refrigerators to cool the air inside the appliance. Some creative activities for hobbies or professional artistry also use air compressors in multiple ways. Rising sales of air conditioning systems across countries experiencing extreme weather conditions could bolster business growth.
North America air compressor industry is forecasted to attain 4% gains between 2023 and 2032 due to the increase in shale gas development activities in the region. The increasing industrial projects and investments in process industries in the region are expected to influence the growth of the regional market. Air compressors are used in personal and industrial applications in North America, generating more revenue.
Air Compressor Market Share
Some of the eminent solution providers in the air compressors business scenario include :
Companies are looking to develop their geographical standing and develop the scope of market progression.
This market research report on air compressor includes in-depth coverage of the industry with estimates & forecast in terms of volume in Thousand Units and revenue in USD Million from 2018 to 2032 for the following segments:
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Market, By Product
Market, By Technology
Market, By Lubrication
Market, By Application
The above information is provided on a regional and country basis for the following:
Research methodology, data sources & validation process
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Our 6-step research process
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Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
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