This report describes and explains the compressors market and covers 2017-2022, termed the historic period, and 2022-2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report evaluates the market across each region and for the major economies within each region.
The global compressors market reached a value of nearly $122,569.6 million in 2022, having grown at a compound annual growth rate (CAGR) of 4.3% since 2017. The market is expected to grow from $122,569.6 million in 2022 to $140,490.9 million in 2027 at a rate of 2.8%. The market is then expected to grow at a CAGR of 2.0% from 2027 and reach $154,911.5 million in 2032.
Growth in the historic period resulted from strong economic growth in emerging markets, innovative manufacturing infrastructure of modern systems, an increased automobile production and a growing number of food processing units.
Going forward, government support, rapid industrialization, an increasing demand for energy-efficient air compressors and rising demand for oil-free compressors in the food and beverage industry will drive the market growth. Factors that could hinder the growth of the compressors market in the future include stringent regulations, increasing financial losses and the Russia-Ukraine war.
The compressors market is segmented by type into air and gas. The air market was the largest segment of the compressors market segmented by type accounting for 71.6% of the total in 2022. Going forward, the gas market is expected to be the fastest growing segment in the compressors market segmented by type, at a CAGR of 2.9% during 2022-2027.
The compressors market is segmented by application into industrial manufacturing, oil and gas, automotive, HVAC-R, food and beverage, power, construction, chemical and cement and textile. The industrial and manufacturing market was the largest segment of the compressors market segmented by application accounting for 23.0% of the total in 2022. Going forward, the automotive market is expected to be the fastest growing segment in the compressors market segmented by application, at a CAGR of 2.9% during 2022-2027.
The compressors market is segmented by compressor type into positive displacement and dynamic. The positive displacement market was the largest segment of the compressors market segmented by compressor type accounting for 61.1% of the total in 2022. Going forward, the dynamic market is expected to be the fastest growing segment in the compressors market segmented by compressor type, at a CAGR of 2.8% during 2022-2027.
The compressors market is segmented by power rating into 101-300 KW, 0-100 KW, 301-500 KW and 500 KW above. The 101-300 kW market was the largest segment of the compressors market segmented by power rating accounting for 40.0% of the total in 2022. Going forward, the 500 kW above market is expected to be the fastest growing segment in the compressors market segmented by power rating, at a CAGR of 2.9% during 2022-2027.
Asia Pacific was the largest region in the compressors market, accounting for 47.4% of the total in 2022. It was followed by North America, and then the other regions. Going forward, the fastest-growing regions in the compressors market will be Eastern Europe and South America, where growth will be at CAGRs of 3.2% and 3.0% respectively. These will be followed by Asia Pacific and the Middle East, where the markets are expected to grow at CAGRs of 3.0% and 2.7% respectively.
The global compressors market is fragmented, with a large number of small players. The top ten competitors in the market made up to 7.12% of the total market in 2021. This can be due to the existence of number of local players in the market serving customers in particular geographies. Atlas Copco AB was the largest competitor with 2.03% share of the market, followed by Mitsubishi Heavy Industries Ltd. with 1.33%, Baker Hughes Co. with 0.86%, Ingersoll Rand Inc. with 0.74%, Siemens Energy AG with 0.58%, Hitachi Ltd. with 0.48%, Burckhardt Compression Holding AG with 0.34%, Elgi Equipments Ltd. with 0.30%, Ariel Corporation with 0.26% and Kobe Steel Ltd. with 0.20%.
The top opportunities in the compressors market segmented by type will arise in the air segment, which will gain $12,624.4 million of global annual sales by 2027. The top opportunities in segment by application will arise in the industrial manufacturing segment, which will gain $4,072.1 million of global annual sales by 2027. The top opportunities in segment by compressor type will arise in the positive displacement segment, which will gain $10,756.8 million of global annual sales by 2027. The top opportunities in segment by power rating will arise in the 101-300 kW segment, which will gain $7,154.6 million of global annual sales by 2027. The compressors market size will gain the most in China at $4,704.5 million.
Market-trend-based strategies for the compressors market include focus on innovative product launches, mergers and acquisitions, oil-free screw compressors, technology advancements, partnerships and collaborations, new facility expansions, increasing investments and rotary screw compressors.
Player-adopted strategies in the compressors market include focus on securing new contracts, strategic acquisitions and launching new products.
To take advantage of the opportunities, the publisher recommends the compressors companies to focus on innovative product launches, focus on oil-free screw compressors, focus on technology advancements, focus on increasing investments in new production facilities, expand in emerging markets, continue to focus on developed markets, focus on partnerships and collaborations, focus on mergers and acquisitions, provide competitively priced offerings, continue to use B2B promotions, continue to target fast-growing applications.
The global compressors market reached a value of nearly $122,569.6 million in 2022, having grown at a compound annual growth rate (CAGR) of 4.3% since 2017. The market is expected to grow from $122,569.6 million in 2022 to $140,490.9 million in 2027 at a rate of 2.8%. The market is then expected to grow at a CAGR of 2.0% from 2027 and reach $154,911.5 million in 2032.
Growth in the historic period resulted from strong economic growth in emerging markets, innovative manufacturing infrastructure of modern systems, an increased automobile production and a growing number of food processing units.
Going forward, government support, rapid industrialization, an increasing demand for energy-efficient air compressors and rising demand for oil-free compressors in the food and beverage industry will drive the market growth. Factors that could hinder the growth of the compressors market in the future include stringent regulations, increasing financial losses and the Russia-Ukraine war.
The compressors market is segmented by type into air and gas. The air market was the largest segment of the compressors market segmented by type accounting for 71.6% of the total in 2022. Going forward, the gas market is expected to be the fastest growing segment in the compressors market segmented by type, at a CAGR of 2.9% during 2022-2027.
The compressors market is segmented by application into industrial manufacturing, oil and gas, automotive, HVAC-R, food and beverage, power, construction, chemical and cement and textile. The industrial and manufacturing market was the largest segment of the compressors market segmented by application accounting for 23.0% of the total in 2022. Going forward, the automotive market is expected to be the fastest growing segment in the compressors market segmented by application, at a CAGR of 2.9% during 2022-2027.
The compressors market is segmented by compressor type into positive displacement and dynamic. The positive displacement market was the largest segment of the compressors market segmented by compressor type accounting for 61.1% of the total in 2022. Going forward, the dynamic market is expected to be the fastest growing segment in the compressors market segmented by compressor type, at a CAGR of 2.8% during 2022-2027.
The compressors market is segmented by power rating into 101-300 KW, 0-100 KW, 301-500 KW and 500 KW above. The 101-300 kW market was the largest segment of the compressors market segmented by power rating accounting for 40.0% of the total in 2022. Going forward, the 500 kW above market is expected to be the fastest growing segment in the compressors market segmented by power rating, at a CAGR of 2.9% during 2022-2027.
Asia Pacific was the largest region in the compressors market, accounting for 47.4% of the total in 2022. It was followed by North America, and then the other regions. Going forward, the fastest-growing regions in the compressors market will be Eastern Europe and South America, where growth will be at CAGRs of 3.2% and 3.0% respectively. These will be followed by Asia Pacific and the Middle East, where the markets are expected to grow at CAGRs of 3.0% and 2.7% respectively.
The global compressors market is fragmented, with a large number of small players. The top ten competitors in the market made up to 7.12% of the total market in 2021. This can be due to the existence of number of local players in the market serving customers in particular geographies. Atlas Copco AB was the largest competitor with 2.03% share of the market, followed by Mitsubishi Heavy Industries Ltd. with 1.33%, Baker Hughes Co. with 0.86%, Ingersoll Rand Inc. with 0.74%, Siemens Energy AG with 0.58%, Hitachi Ltd. with 0.48%, Burckhardt Compression Holding AG with 0.34%, Elgi Equipments Ltd. with 0.30%, Ariel Corporation with 0.26% and Kobe Steel Ltd. with 0.20%.
The top opportunities in the compressors market segmented by type will arise in the air segment, which will gain $12,624.4 million of global annual sales by 2027. The top opportunities in segment by application will arise in the industrial manufacturing segment, which will gain $4,072.1 million of global annual sales by 2027. The top opportunities in segment by compressor type will arise in the positive displacement segment, which will gain $10,756.8 million of global annual sales by 2027. The top opportunities in segment by power rating will arise in the 101-300 kW segment, which will gain $7,154.6 million of global annual sales by 2027. The compressors market size will gain the most in China at $4,704.5 million.
Market-trend-based strategies for the compressors market include focus on innovative product launches, mergers and acquisitions, oil-free screw compressors, technology advancements, partnerships and collaborations, new facility expansions, increasing investments and rotary screw compressors.
Player-adopted strategies in the compressors market include focus on securing new contracts, strategic acquisitions and launching new products.
To take advantage of the opportunities, the publisher recommends the compressors companies to focus on innovative product launches, focus on oil-free screw compressors, focus on technology advancements, focus on increasing investments in new production facilities, expand in emerging markets, continue to focus on developed markets, focus on partnerships and collaborations, focus on mergers and acquisitions, provide competitively priced offerings, continue to use B2B promotions, continue to target fast-growing applications.
Table of Contents
1. Executive Summary2. Table Of Contents3. List Of Figures4. List Of Tables5. Report Structure18. Competitive Landscape And Company Profiles
6. Introduction And Market Characteristics
7. Major Market Trends
8. Global Market Size And Growth
9. Global Compressors Market Segmentation
10. Compressors Market, Regional and Country Analysis
11. Asia-Pacific Market
12. Western Europe Market
13. Eastern Europe Market
14. North America Market
15. South America Market
16. Middle East Market
17. Africa Market
19. Company Profiles
20. Key Mergers And Acquisitions
21. Opportunities And Strategies
22. Compressors Market, Conclusions And Recommendations
23. Appendix
Executive Summary
Compressors Global Market Opportunities and Strategies to 2032 provides the strategists; marketers and senior management with the critical information they need to assess the global compressors market as it emerges from the COVID 19 shut down.Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 12 geographies.
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- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
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Description:
Where is the largest and fastest-growing market for compressors? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The compressors market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider compressors market; and compares it with other markets.
The report covers the following chapters
Introduction and Market CharacteristicsBrief introduction to the segmentations covered in the market, definitions and explanations about the compressors market.
Key Trends
Highlights the major trends shaping the global compressors market. This section also highlights likely future developments in the market.
Global Market Size and Growth
Global historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values, and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
Regional Analysis
Historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values and growth and market share comparison by region and country.
Market Segmentation
Contains the market values (2017-2032) and analysis for each segment by type, by compressor type, by power rating and by application in the market.
Regional Market Type and Growth
Regional market type (2022), historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values, and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
Competitive Landscape
Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
Key Mergers and Acquisitions
Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
Opportunities and Strategies -
This section gives information on growth opportunities across countries, segments and strategies to be followed in those markets. It gives an understanding of where there is significant business to be gained by competitors in the next five years.
Conclusions and Recommendations -
This section includes conclusions and recommendations based on findings of the research. This section also gives recommendations for compressors companies in terms of product offerings, geographic expansion, price offerings, and target groups.
Appendix -
This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Scope
Markets Covered:
1) By Type: Air; Gas2) By Application: Industrial Manufacturing; Oil and Gas; Automotive; Hvac-R; Food and Beverage; Power; Construction; Chemical and Cement; Textile
3) By Compressor Type: Positive Displacement; Dynamic
4) By Power Rating: 101-300 Kw; 0-100 Kw; 301-500 Kw; 500 Kw Above
Companies Mentioned: Atlas Copco AB; Mitsubishi Heavy Industries Ltd.; Baker Hughes Co.; Ingersoll Rand Inc ;Siemens Energy AG
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; France; Germany; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time-series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; compressors indicators comparison.
Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- Atlas Copco AB
- Mitsubishi Heavy Industries Ltd.
- Baker Hughes Co.
- Ingersoll Rand Inc.
- Siemens Energy AG
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 308 |
| Published | April 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 122569.6 Million |
| Forecasted Market Value ( USD | $ 154911.5 Million |
| Compound Annual Growth Rate | 2.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
