Air & Gas Compressor Manufacturing in the US - Industry Market Research Report

Pressure contained: Rebounding demand from key industrial and general manufacturing markets will support industry growth

Air and gas compressor manufacturers make air and gas compressors, vacuum pumps, industrial spraying equipment and parts for compressors. These products align with industrial production and are necessary for many daily operations. The pandemic hit operators hard, as many downstream markets were negatively affected. Downstream manufacturers temporarily shut down operations in line with health and safety regulations. Mining, oil and gas extraction all slumped as there was not much of a need for these extracts at the time. Revenue fell more than 25.0% in 2020 alone, marking the most significant historical decline for air and gas compressor manufacturers. Even as the economy recovered, operators struggled to keep pace as they had to contend with volatile material costs, which sunk profitability. Overall, industry revenue has fallen at a CAGR of 6.8% over the past five years, including an estimated 0.2% rise in the current year and is expected to total $8.3 billion in 2023. The Air and Gas Compressor Manufacturing industry manufactures air and gas compressors, parts for air and gas compressors and industrial spraying equipment. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.