Centrifugal Air Compressor Market Size By Product (Portable, Stationary), By Casing (Horizontally Split, Vertically Split), By End-user (Food & Beverages, Oil & Gas, Energy, Semiconductor & Electronics, Manufacturing, Healthcare), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Sep 2020  |  Report ID: GMI2185  |  Authors: Kiran Pulidindi, Akshay Prakash

Report Format: PDF   |   Pages: 220   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Centrifugal Air Compressor Market size valued at USD 9.9 billion in 2019 and is estimated to exhibit over 1.5% CAGR from 2020 to 2026. Growing oil & gas exploration activities and rising demand for food products will propel the industry demand.
 

Centrifugal air compressor or radial compressor are gaining traction across end-users owing to their lower maintenance cost and longer lifespan. These types of compressors can have more than 50% of turndown at the commercial level. For a compressor, if the turndown ratio increases, the availability for flow variability also increases. This reduces the chances of blow off in compressed air treatment systems during low flow conditions. Increasing product demand in major end-user industries will be a key factor responsible for market expansion.
 

Centrifugal Air Compressor Market
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Another growth enabling factor is technological advancement in the field of centrifugal air compressor. In the past, many end-users, especially plant maintenance personnel, have avoided the usage of radial compressors owing to its complex operations. However, the majority of manufacturers had started providing control modes, such as valve logic, to enhance customer satisfaction. The major incentive of using these technologies is energy-saving as compressed air accounts for around a quarter of the total plant energy consumption.
 

Centrifugal air compressor face challenges such as its installation and maintenance cost that will hinder market development. This can be mainly attributed to high penetration of rental services of compressors among end-users. Small to medium-scale end-users require compressed air treatment for a very short duration. Furthermore, renting air compressors is much more economical compared to buying as it saves a considerable amount of operational cost.
 

Loss in sales volume due to the adverse impacts of coronavirus will restrict the centrifugal air compressor market growth. Globally, aerospace and automotive manufacturing facilities have announced closure or partial shutdown due to worldwide lockdown and labor shortage. Semiconductor & electronics demand is projected to drop by over 10% owing to declining sales volume of smartphones, computers, vehicles, etc. Such trends have created a significant loss of global market revenue during 2019-2020. However, the industry will gain momentum post-2021 on account of stability in the global manufacturing sector and revival of the economy of major countries.
 

Centrifugal Air Compressor Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 9,963.1 Million (USD)
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 1.9% 2026 Value Projection: 10,485.0 Million (USD)
Pages: 220 Tables, Charts & Figures: 237
Geographies covered (18): U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, Saudi Arabia and UAE
Segments covered: Product, Casing, Application and Region
Companies covered (15): Atlas Copco, Kirloskar Pneumatic Company Limited, Sullair LLC, Gardner Denver, Inc., Danfoss, Elliott Group, Shanghai Denair Compressor Co., Ltd, Kazancompressormash (HMS Group), Hitachi Ltd, Ingersoll-Rand PLC., Dresser-Rand, General Electric, Kobelco Compressors America, Inc., Kaishan Group and Hertz Kompressoren
Growth Drivers:
  • High automotive industry growth in Asia Pacific and the U.S.
  • Rapid industrial growth in Asia Pacific
  • Technological development in the field of centrifugal air compressor
Pitfalls & Challenges:
  • Strict regulation regarding centrifugal air compressor usage
  • Popularity of centrifugal air compressor rental services

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Stationary products to dominate the global sales of centrifugal compressors

The stationary centrifugal air compressor market will generate more than USD 8.5 Billion revenue in 2019. This type of compressor is capable of supplying air at higher pressure as compared to other compressors. The manufacturing sector including automotive, aerospace, chemical processing, etc., will be the key consumers of stationary products owing to their incessant requirement for supply of high pressurized compressed air for a long period.
 

Horizontally split casing is a preferred option by end-users

The horizontal split centrifugal air compressor segment is poised to witness around 2% growth rate through 2026 propelled by growing demand from food & beverage and manufacturing sector that require lower discharge pressure. Some of the key features of this casing are easy maintenance, accessibility to moving parts, and low acquisition cost.
 

Food & beverages sector to create popularity for centrifugal air compressor market development

Centrifugal Air Compressor Market Analysis

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The food & beverages sector is expected to expand at 2.5% CAGR during the forecast period. The product is mainly used to control valves and actuators in automated lines for filling, packaging & bottling, for transportation of substances through pipes, closing & checking devices, beverage & food filling equipment, for cooling & freezing products, nitrogen generation, cleaning medium when cutting or peeling foods, and for mixing & movement. Rising need for non-contaminated food & beverage products will enhance the usage of oil-free centrifugal air compressor.
 

Asia Pacific to lead the overall radial air compressor’s demand

Centrifugal Air Compressor Market Revenue

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Asia Pacific centrifugal air compressor market size is predicted to reach USD 6 billion by 2026. Major countries including China, South Korea, and Japan hold a strong foothold in semiconductor & electronics manufacturing. China has maintained its leading position in the semiconductor production with a 50% share in the global production value for the last five years. Similarly, Taiwan reported a 21.8% share in the global IC wafer fab production capacity in 2018. Such trends showcase that the region has already established its dominance in the semiconductor & electronics manufacturing worldwide, that further strengthens its position in the global centrifugal air compressor industry.
 

The region has a positive outlook for the manufacturing sector due to growth in industrial output in countries including Bangladesh, Cambodia, Myanmar, etc. Centrifugal air compressor is being employed for numerous applications including automotive, shipbuilding, aircraft, mechanical components, etc., that will spur the regional market growth.
 

Technological advancement to play a pivotal role in market consolidation

Industry players are investing in technological advancements related to compressors to increase the customer satisfaction level. As the industry is moderately fragmented, the value proposition will be a key differentiating factor, in increasing market share.
 

The key centrifugal air compressor market players include Atlas Copco, Sullair, Danfoss, Gardner Denver, Elliott Group, Ingersoll-Rand, General Electric, Kobelco Compressors America, Hitachi, and Kirloskar Pneumatic Company. These players have a well-established base for manufacturing, marketing, and selling & after-sales support.
 

This market research report on centrifugal air compressor includes in-depth coverage of the industry with estimates & forecast in terms of volume in Units and revenue in USD Million from 2016 to 2026 for the following segments

Market, by Product

  • Portable
  • Stationary

Market, by Casing

  • Horizontally Split
  • Vertically Split

Market, by End-user

  • Food & Beverages
  • Oil & gas
  • Energy
  • Semiconductor & Electronics
  • Manufacturing
  • Healthcare
  • Others

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Indonesia
    • Malaysia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE

 

Frequently Asked Questions (FAQ) :

In 2019, the global centrifugal air compressor market size was worth USD 9.9 billion, and the industry is expected to depict 1.5% CAGR through 2026, owing to rising number of O&G exploration activities.
Global stationary compressor segment was worth USD 8.5 billion in 2019, and may depict appreciable growth since stationary products can supply air at higher pressure.
The horizontal split centrifugal air compressor industry share may exhibit 2% CAGR through 2026, driven by the rising demand from manufacturing and F&B sectors.
The global centrifugal air compressor market size from food & beverages sector may grow at a CAGR of 2.5% through 2026, as the product is used extensively to control actuators and valves in the packaging, bottling, and filling automated lines.
Asia Pacific centrifugal air compressor market size may exceed USD 6 billion by 2026, as the continent hosts nations such as South Korea and Japan that have a strong foothold in electronics manufacturing.

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Premium Report Details

  • Published Date: Sep 2020
  • Pages: 220
  • Tables: 207
  • Charts / Figures: 30
  • Companies covered: 15
  • Countries covered: 18

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