Air Compressor Market Size By Product (Portable, Stationary), By Technology (Rotary [Screw, Scroll], Reciprocating, Centrifugal), By Lubrication (Oil Free, Oil Filled), By Application (Home Appliances, Food & Beverage, Oil & Gas, Energy, Semiconductors & Electronics, Manufacturing, Healthcare [Medical, Dental]), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
Published Date: September 2017 | 240 Pages | Report ID: GMI377 Report Format: PDF
Air Compressor Market Size was valued over USD 35 billion in 2016 and the industry will grow by a CAGR of more than 3% up to 2024.
U.S. Air Compressor Market Size, by Product, 2013 – 2024 (USD Million)
Household appliances, a major commercial sector, will drive the air compressor market in coming years. Industrial development since the past several years, post-recession, has resulted in increased earning power in the developing regions. Subsequently, population is also on the rise in these countries, and so is the income levels of the people. This had led to increasing surplus income which in turn fuels demand for various daily use and comfort goods. Increasing income levels coupled with the ability and willingness to buy home appliances will drive the air compressor market demand in coming years. Moreover, development in the home appliances, resulting in newer and compact models paired with user friendly modes of operation will further enhance the air compressor market.
The U.S. has a mature automobile market owing to huge number of vehicles already present in this region and will grow at a stable rate in the future. Automotive sales in the country grew by 0.8% from 2015 to record sales of over 12 million units in 2016. Rising income levels of consumers in Asia Pacific is a major reason for automotive market growth in the region. Asia Pacific has the fastest emerging automobile industry owing to the increasing disposable income of consumers and rising standard of living. Majority of European automobile manufacturers have initiated manufacturing units in Asia Pacific owing to cost effective labor and easy availability of raw materials. This has boosted the turnaround supply time for the Asia Pacific demand markets and reduced transportation cost to a large extent. Asia Pacific recorded automotive sales of over 51.5 million units in 2016 which increased by 7.6% since 2015. Automobile air compressors find applications in air breaks, vehicle air conditioning systems, engines, etc. Growing popularity of automobiles an upward buying trends would in turn boost air compressor market as a whole.
Stringent government regulations regarding the noise levels of air compressors owing to sound pollution will be a major hurdle for the air compressor market. Another restraining factor is the emission of greenhouse gases causing air pollution. Regulations and mandatory frameworks have been formed to reduce pollution caused by these machines in order to safeguard the ecology. Strict implementation of these regulations could pose restraints to the air compressor market.
Air Compressor Market, By Product
Air compressor market is bifurcated on the basis of product as portable and stationary. Oil & gas exploration activities and mining have usage of portable machineries as they need to me moved from one place to another Use of portable machinery in various selective locations will drive the wheel mounted air compressors market in coming ears.
Extensive sage of stationary machineries in end -user industries such as manufacturing, home appliances, and automobile is said to enhance the air compressor market in the coming days. The segment held a significant share of over USD 20 billion in 2016 and will grow at a significant rate in the forecast period.
Air Compressor Market, By Technology
Based on technology, the global air compressor market is bifurcated into rotary, reciprocating, and centrifugal. The rotary segment is further bifurcated into screw, scroll and others. Higher efficiency and cost maintenance will drive the rotary air compressors market is in coming years. the segment will grow at a highest rate considering the other segments.
Reciprocating are being gradually replaced by the rotary machineries owing to their superior performance and reliability. This, in future, will result in the former segment losing its market share to the latter segment. The reciprocating segment will display growth of over 2.5% in the coming seven years.
Air Compressor Market, By Lubrication
Global air compressor market is classified on the basis of lubrication as oil free and oil filled. Rising food safety and security grades due to infections, hazards, and food contamination will drive the oil free air compressor market demand in the coming years. The segment will grow at a higher CAGR owing to its rising use for food packaging and processing activities.
Heavy work and higher-pressure activities such as oil extraction, drilling, and mining drive the oil filled air compressor market demand. Rising oil extraction activities in the Middle East, North America and Asia Pacific will drive the industry in the next few years. the segment held a market share in excess of USD 18 billion and will grow with a substantial CAGR in the forecast period.
Air Compressor Market, By Application
Home appliances, food & beverage, oil & gas, energy, semiconductor & electronics, manufacturing, and healthcare are the major segments based on which the global air compressor market is divided. the others segment consists of waste water, agriculture, construction, entertainment, etc. The healthcare segment s further sub-divided into dental and other healthcare applications. The manufacturing segment held a major chunk of share and was valued over USD 9 billion in 2016.
Considering volume home appliances holds a maximum share in the global air compressor market and will grow at an exponential rate in the coming years. the product finds maximum usage in the air conditioners, refrigerators and for tire inflation. Increasing home appliances demand in the developing countries will further boost the air compressor market.
Air Compressor Market, By Region
Asia Pacific held a major share of around 50% in 2016 and is set to grow at an exceptional rate in the coming years. Increasing manufacturing activities coupled with the rise in home appliances demand will further surge the air compressor market to new heights. The Europe industry was valued over USD 5 billion in 2016 and will grow at a stable rate owing to a mature market in this region.
Huge manufacturers are setting up their manufacturing hubs in the Latin American region due to easy availability of raw materials and cost-effective labor. Gradual increasing manufacturing activities coupled with increasing use of automotive in this region will drive the Latin America air compressor market demand in future years.
Competitive Market Share
Prominent players operating in the global air compressor market are Atlas Copco, Sullair, Gardner Denver, Kaeser Kompressoren, Ingersoll-Rand, Rolair Systems, Doosan Portable Power, Sullivan-Palatek, Hubei Teweite Power Technology Company, Elgi Compressors, Heyner, Hitachi Industrial Equipment Systems, Ciasons Industrial, Mat Holdings, Oasis Manufacturing, Aerzener Maschinenfabrik, Quincy Compressor, Bauer Compressors, Emerson Climate Technologies, and Frank Technologies.
Atlas Copco is one of the giant industry player which recently acquired a number of companies such as Glauber Equipment, Mobilaris MCE AB, Pressure Compressores, Orcan Basincli Hava Makinalari San. ve Tic, and others in part or whole to enhance its market share and expand its portfolio.
Air compressor market is driven by major end user industries such as healthcare, manufacturing, home appliances, oil & gas, and others. Increasing use of better quality and technologically updated products in appliances and other industrial machineries will propel the industry growth in coming years.
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