Industrial Air Compressors Market Size to cross $24bn by 2026
Published Date: December 18, 2019 Authors: Kiran Pulidindi, Sayan Mukherjee
Industrial Air Compressors Market size will likely reach USD 24.02 billion by 2026; according to a new research report by Global Market Insights, Inc.
Escalating manufacturing industry to drive industry growth
Growing use of air compressors in manufacturing sector in order to provide a continuous flow of compressed air for prolonged period of time and resist fluctuating surges during the operation of plant will drive the industrial air compressors market growth positively. In addition to this, air compressors also find wide usage in food & beverages industry, that includes food processing, food packaging, nitrogen generation, and product handling. Thus, expanding food & beverages sector across the world will further propel the market size by 2026.
Rising oil & gas explorations activities will augment growth in the market
Expanding oil & gas exploration activities among OPEC and other emerging economies of the world will positively impact the air compressors market share over the near term. Owing to extensive use of air compressor for both offshore and onshore drilling, petroleum refining, petrochemical synthesis, pipeline transportation and for the re-injection of gas in oil fields. Furthermore, its growing demand in pharmaceuticals and energy & mining sector will propel industrial air compressors market demand over the forecast spell.
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Segmentation based on product is portable and stationary air compressors. Here, portable air compressors illustrate significant growth rate more than 5.2% from 2019 to 2026. Owing to its added efficiency and convenience at workplace. Moreover, easy maintenance and less noise during operation in comparison to stationary air compressor will increase further increase its market revenue by 2026.
Browse key industry insights spread across 250 pages with 416 market data tables & 39 figures & charts from the report, “Industrial Air Compressor Market Size By Product (Portable, Stationary), By Lubrication (Oil Free, Oil Filled), By Power (Up to 15 kW, 16 - 75 kW, 75 - 500 kW, More than 500 kW), By Technology (Rotary [Screw, Scroll], Reciprocating, Centrifugal), By Application (Food & beverage, Oil & gas, Energy & Mining, Semiconductor & electronics, Manufacturing, Construction & Municipal, Pharmaceuticals, Agriculture/Farming), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, Spain, China, India, Japan, Australia, Malaysia, Indonesia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019–2026” in detail along with the table of contents:
Economical oil free air compressors will propel growth in the market
On the basis of lubrication, the industrial air compressors market is categorized into oil free and oil filled air compressors. Oil free air compressors accounts a fair share of 20% in 2018 and is likely to grow with the significant rate by 2026. Owing to less expensive and lightweight nature, that produces as much pressure (psi) & air flow (CFM) as of many oil filled lubricated models. Similarly, based on power capacity the industry is segregated into up to 15 kw, 65 – 75 kw, 75 – 500 kw and more than 500 kw. Where the air compressor operating between 65 – 75 kw and 75 – 500 kw find wide usage in various end-use sectors
Extensive usage in manufacturing sector will positively drive industrial air compressors market value
Industrial air compressors on application basis find extensive usage in food & beverage, manufacturing, energy & mining, oil & gas, semiconductor & electronics, construction & municipal, agriculture/farming and pharmaceutical sector. Industrial air compressors find extensive usage in manufacturing application that illustrate highest growth rate of more than 5.5% from 2019 to 2026. Owing to its growing usage in welding & cutting equipment, production monitoring, metal finishing & sandblasting and in the operation of automated machineries. This is then followed by its application in energy & mining sector, that includes inserting and withdrawal of reactor rods, powering pneumatic equipment and tools in offshore and onshore operations and so on.
Investment inflows in Asia Pacific will augment growth in the regional market
Asia Pacific industrial air compressors market share is likely to illustrate highest growth rate of more than 6% during the forecast period, owing to the expanding manufacturing sector in the region. Countries such as China, Japan and South Korea is a well-established manufacturing hub and with investment inflows for manufacturing in the emerging economies such as India, Malaysia, Thailand and Vietnam will further drive market growth in the region. For instance, since April 2000, the aggregate FDI in manufacturing sector India is more than USD 76 billion. Moreover, in May 2019, the India’s manufacturing Purchasing Managers' Index (PMI) stood at 51.7, which indicates companies spending on hiring that anticipates good growth in future prospects.
Market is highly fragmented based on the local demand
Key players in the market share includes Gardner Denver, Atlas Copco, Sullair, Ingersoll-Rand, Hitachi Industrial Equipment Systems, Quincy Compressor and Doosan Portable Power.
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