Since their initial introduction, air compressors have become incredibly popular, and this trend is predicted to continue. With the increasing use in end-use industries the demand for industrial air compressors is projected to grow at a CAGR of 3.8% between 2022 and 2032, totaling around US$46.6 Billion by 2032. The global industrial air compressor market is expected to be valued at US$ 33.3Billion in 2022.
Industrial air compressor producers are putting a lot of effort into creating digitally controlled systems, like automated and digitalized compression solutions. It is anticipated that this will increase the demand for industrial air compressors.
Additionally, the oil and gas industry’s expanding demand will continue to be a major growth driver. During the forecast period, the oil and gas, automotive, and transportation industries will account for the majority of market sales, according to the report. As these industries expand, attractive opportunities for growth will emerge in the near future.
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Key Takeaways from the Industrial Air Compressor Market Study
- Industrial air compressor market will register a CAGR of ~4.6% over the forecast period of 2021-2031
- Expansion of oil exploration activities have placed the U.S. as a chief market, which accounts for over 70% sales within North America
- Improving production in the automotive sector will fuel demand in the U.K., enabling above 6% y-o-y growth in 2021 in terms of value
- Application across diverse sectors will drive growth in industrial air compressor market in Germany and France
- Rising demand for power generation will push growth in Japan and China
“The main catalyst behind the growing popularity of air compressors is the innovation that goes into newer models in the market. In economic downturns, sales of air compressors are less likely to witness significant gains in some of the world’s more developed markets. Nonetheless, the technology will always have thriving markets as long as there are developing countries are eager to compete with the industrialized world.” says a Future Market Insights analyst.
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The industrial air compressor market is expected to be a high-opportunity market in the forecast period owing to increasing demand from various manufacturing and production industries as well as investments in oil & gas and power generation sectors, which are expected to drive the demand through the forecast period. Moreover, manufacturers are emphasizing on developing digitalized and customized products as per customer demands along with improved technology, life cycle, higher efficiency and less maintenance cost. These factors are expected to positively influence growth in demand for Industrial air compressors during the forecast period.
Key Segments Covered In The Industrial Air Compressor Industry Analysis
Industrial Air Compressor Market by Technology:
- Rotary Industrial Air Compressor
- Reciprocating Industrial Air Compressor
- Centrifugal Industrial Air Compressor
- Axial Industrial Air Compressor
Industrial Air Compressor Market by Capacity:
- Upto 500 HP Industrial Air Compressor
- 500 – 2000 HP Industrial Air Compressor
- 2000 – 5000 HP Industrial Air Compressor
- 5000 – 12000 HP Industrial Air Compressor
- 12000 – 20000 HP Industrial Air Compressor
- Above 20000 HP Industrial Air Compressor
Industrial Air Compressor Market by Compression Stage:
- Single Stage Industrial Air Compressor
- Double Stage Industrial Air Compressor
- Multistage Industrial Air Compressor
Industrial Air Compressor Market by Driver Type:
- Electric Industrial Air Compressor
- Natural Gas Industrial Air Compressor
- Fuel Driven Industrial Air Compressor
Industrial Air Compressor Market by End-Use:
- Industrial Air Compressor in Automotive and Transportation
- Industrial Air Compressor in Oil and Gas
- Industrial Air Compressor in Power Generation
- Industrial Air Compressor in Chemicals
- Industrial Air Compressor in Food and Beverages
- Industrial Air Compressor in Pharmaceuticals
- Industrial Air Compressor in Mining and Metals
- Industrial Air Compressor in Industrial Air Separation
- Industrial Air Compressor in Other manufacturing
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