Air Compressors Market size worth over $107.5 bn by 2026
Published Date: April 13, 2020 Authors: Kiran Pulidindi, Hemant Pandey
Air Compressors Market size is poised to surpass USD 107.5 billion by 2026; according to a new research report by Global Market Insights, Inc.
Surging demand for energy efficient air compressors will propel the industry size
Air compressor is utilized for delivering compressed air at required pressures essential for diversified end user markets including food & beverages, transportation, commercial, housing appliances, healthcare, oil & gas, mining, construction and other manufacturing industries. Proliferating demand for energy efficient and reliable air compressors for ensuring the continuity of production in numerous industries is majorly driving the industry size. Advanced air compressors offer higher productivity, lower cost of ownership along with reduced lifecycle and energy usage. Moreover, easy availability of customized compressors and tailored service offerings for industry specific applications will positively influence the air compressors market share over the forecast timeframe.
Continuous demand for mining and drilling operations
Portable compressors are specifically designed for applications including drilling, mining and construction activities where electric power sources are limited. They are equipped with wheels & axles for towing along with lifting bails and forklift slots for easy loading and unloading. Specialized configurations of portable compressors provide potential opportunities for their application in harsh weather conditions including extreme heat, humidity and altitude.
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Browse key industry insights spread across 326 pages with 264 market data tables, 31 figures & charts from the report, “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, Commercial, Manufacturing, Healthcare [Medical, Dental]), Mining & Construction, Transportation), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Multiple benefits of reciprocating compressors will augment segment growth
Reciprocating compressors are gaining higher visibility in the industry owing to their multiple benefits including their capability of offering high power output and compressing wide range of gases. Growing applications in mining, metallurgy, oil & gas, residential and commercial refrigeration will escalate the segment size. Moreover, lower installation cost, improved performance along with availability of technologically advanced versions will drive the air compressors market growth through 2026.
Human health concerns and hygiene requirements will foster demand
Oil free compressors will showcase potential growth prospects with 3.5% CAGR owing to the growing application in pharmaceutical, dental, electronics, food & beverages industries. Increasing requirements for clean compressed air output in these applications for avoiding contamination of sensitive devices will provide a positive outlook for the air compressor industry expansion. Moreover, lightweight structure along with lower maintenance requirements will further contribute towards increased product demand over the forecast timeframe.
Surging sales of electric vehicles will boost the segment size
Transportation segment will hold around 18% in air compressors market. AC compressor installed in vehicles compresses the refrigerant for cooling the interior environment. Surging production and adoption of electric vehicles will prominently contribute towards higher product demand. Growing demand for next generation vehicles and rising popularity of future mobility options will complement the market growth over the study timeframe.
Technologically advanced manufacturing facilities to boost the Europe market outlook
Europe will witness 2.6% CAGR till 2026 owing to technological advancements in industrial sectors. Compressed air is used in operating air tools on production lines, monitoring equipment, cutting & welding equipment, ejecting pieces from molds as well as operating automatic machinery. Extensive automotive production in Europe, mostly in Germany, will drive the regional market demand.
Long term partnership and agreements will provide positive outlook for the industry players
Major manufacturers in the air compressors market share include Kaeser Kompressoren SE, Ingersoll-Rand plc, Atlas Copco, GMCC, Cummins and others. Industry participants are establishing long term partnerships for developing and supplying air compressors, further ensuring efficient supply chain operations. For instance, in April 2016, WABCO Holdings Inc. and Cummins entered into new long-term agreement for manufacturing and supplying air compressors globally.
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