Air Compressor Market size worth over $86.41 Bn by 2027
Published Date: July 5, 2021 Authors: Kiran Pulidindi, Hemant Pandey
Air Compressor Market size is forecast to exceed USD 86.41 billion by 2027; according to a new research report by Global Market Insights, Inc.
Increasing production of home appliances and automobiles in Asia Pacific is likely to fuel the air compressor industry demand. The industry development will also be augmented by expansion in the oil & gas sector in the U.S. Additionally, Swift industrial developments in evolving nations of Latin America and Asia Pacific will bolster market demand. Mounting infrastructure and construction advancement activities in India, Brazil, China, and few other developing nations is influencing the market expansion.
The compressor market is expected to witness a steady growth in demand owing to its varied area of applications. The increasing demand for home appliances such as air conditioners and refrigerators with advancing living standards of the people coupled with the hot climate of the Asian, South American, the Middle East & African countries will significantly enhance the demand for air compressors. Moreover, the increasing demand for oil exploration & mining activities and developments in the power & energy generation sector will certainly drive the air compressor market. Budding energy and healthcare industries in African nations will further boost the product consumption.
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However, noise pollution is one of the leading problems faced by people across the world. Unwanted noise from these air compressors can cause hypertension, psychological health, sleep disturbances, high stress levels, hearing loss, tinnitus, and other harmful ailments. This can be a limiting factor in the air compressor industry as regulatory bodies of various nations have formulated guidelines regarding the noise levels released from air compressors.
Portable compressors to be the swiftest growing product by 2027
Portable air compressors market is projected to grow with the maximum CAGR of around 8% through 2027. Increasing oil & gas exploration & mining activities, rising number of offshore oil rigs, and increasing construction activities in developing countries will drive the segment demand.
Browse key industry insights spread across 380 pages with 353 market data tables & 46 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, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Reciprocating technology is anticipated to gain the maximum volume share
Reciprocating technology is poised to gain the largest volume share of more than 40% in 2020. Single stage reciprocating compressors are used in small businesses and households, whereas, the double stage types are used in industrial applications as they provide more power. These compressors are commonly used in industrial applications to power pneumatic tools and equipment, where the power required is less than 30 HP.
Oil free compressors are likely to garner a considerable market share
The oil free air compressors market is predicted to hold over 35% share by 2027. Wide acceptance of oil-free air compressors in several end-use industries, where oil contamination may be disastrous such as healthcare and electronics is driving the segment expansion. Lightweight and continuous supply of uncontaminated compressed air will create potential opportunities for these products.
Food & beverage is forecast to become the swiftest mounting industry
Food & beverage application is projected to rise with a CAGR of around 5.5% through 2027. Compressors used in the food & beverage industry are medium in size. Due to the risks of contamination of food products, air compressors are used in food & beverage manufacturing needs to supply very clean, dry, and contaminant-free air. A robust growth in the Asia Pacific food & beverage industry will drive the global market development.
Asia Pacific to demonstrate strong development
The APAC air compressor market size valued at about USD 14 billion in 2020. Asia Pacific, predominantly strengthened by the Chinese industry. Rising usage and manufacturing of household appliances in the region will augment industry demand. Air compressors are widely used in air conditioners, refrigerators, freezers, inflatable household items or to inflate tires. The small in size and capacity air compressors find extensive usage in household appliances.
The major manufacturers present in the air compressor market are Ingersoll-Rand, Atlas Copco, Sullair, Kaeser Kompressoren, Bauer Compressors, Bitzer, Daikin, Emerson Tecumseh, Doosan Portable Power, GMCC, and Embraco.
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