Industrial Air Compressor Market - Growth, Trends, and Forecast (Outlook to 2028)

The growth of the air compressor market is due to the rising demand for vehicles, growing oil exploration & mining activities, and development in the power & energy generation sector will progressively drive industry growth. In addition, high demand from the food & beverage market, mainly due to strict regulations on health and food safety, is expected to escalate product demand further.

The growing adoption of variable-speed systems, low maintenance cost, effective operation, and retrofitting for existing systems are some factors propelling the demand for air compressors across key end-use industries. Energy-efficient compressors are witnessing a surge in demand owing to their cost-effective operations. However, the growing number of gas compressor stations has led to increasing concerns around air quality. Hence, air monitoring systems are widely being installed for measuring the impact of air and gas compressors. Additionally, the subsequent introduction of non-oil and gas-based projects, and continuous investments in the industry, are driving the demand for air compressors.

Drivers:

• Growing consumer awareness regarding product quality the need for improved air quality
• Rising demand for oil-free systems that provide higher accuracy for cooling and less maintenance
• Rising demand from the retrofitting industry due to changes in environmental regulations

The demand for innovative compressors that offer high cost-saving techniques and eliminate the need for supplementary devices has witnessed significant growth across various applications. The increasing focus of consumers on the total solution and lifecycle cost is providing new growth avenues for energy-efficient air compressors. Additionally, the increasing use of compressed air in industrial power tools is also driving the market growth.

An Air compressor is a mechanical device that transforms energy from one form to another, stored in pressurized air with the aid of an electric motor. Pressurized air is used in numerous industrial and non-industrial applications to provide energy to different equipment, tools, and machinery across various industries such as agriculture, pharmaceuticals, food and beverage, furniture, etc., due to the wide range of benefits they provide to all the industries.

• Reliability - air compressors play a crucial role in every business line. So, they are designed to guarantee against malfunctions that can cause interruptions to operations
• Durability - these devices are meant to be used for long periods. So, expect to provide a consistent air supply even for extended usages and shorter intervals
• Cost Effective - most importantly, having an in-house air compressed air facility is designed to provide the right pressure at the lowest possible price

The ecosystem of the global industrial air compressor market starts with the manufacture of basic components, such as valves, bearings, motor, engine, plates, inlet fins, filters, regulator, storage tank, piston, controllers, among others. The original equipment manufacturer (OEM) then assembled the manufactured parts. So OEM's services such as maintenance, provide sale of general industrial equipment and provide continuous monitoring and support.

Some of the Supportive Policies:

• Aid Programs for energy efficiency actions in SMEs and large companies in the industrial sector
• Increasing energy efficiency programs in air conditioners and chillers

Types of Industrial Air Compressor:

• Based on mode of Operation:
• Positive displacement - include reciprocating and rotary air compressors
• Roto-dynamic air compressors
• Based on air compression stages: single-stage, multi-stage, 2-stage
• Based on cooling medium: oil-cooled, water-cooled, or air-cooled
• Based on the type of drive: belt, chain, turbine, motor, engine, direct-coupling, or gear
• Based on lubrication: oil-free, splash, or forced lubrication
• Based on pressure: low, high, or medium

Air Compressor Market Opportunities:

• Launching of compressors with IoT technology
• Growing gas usage in ASEAN countries

Air Compressor Market Restraints:

• Strict regulations regarding the air compressor usage
• The popularity of air compressor rental services
• Lack of technical expertise and high requirements for maintenance

Stationary air compressors are set to dominate industrial air compressors throughout the forecast. The stationary air compressor segment covers a wide range of large and medium capacity industrial air compressors used in various manufacturing facilities and warehouses.

The Asia Pacific is set to dominate the industrial air compressor market share throughout the forecast. It is driven by increasing industrialization and development activities in the region's emerging economies.

Some of the Recent Developments:

• In October 2020, Lontra announced an agreement had been signed with Blade Compressors® LLC, a division of Industrial Air Centers with headquarters in Jeffersonville, Indiana (USA), to be the National Distributor for Lontra Blade Compressors® and forthcoming Lontra products and services in North America
• In August 2019, Leading automotive supplier MARELLI is delighted to announce that it has entered into a strategic partnership with China-based Shanghai Highly (Group) Co., Ltd. (Highly). Under the terms of the deal, MARELLI has agreed on an Equity Transfer Agreement with Johnson Controls-Hitachi Air Conditioning
• In May 2021, Atlas Copco acquired the operating assets of MidState Air Compressor. The company is a distributor of compressors and provider of service that covers Connecticut, Rhode Island, and Massachusetts in the United States
• In December 2019, ELGi Compressors USA, Inc., a subsidiary of Elgi Equipments Limited, a global supplier of compressed air solutions, announced its acquisition of Michigan Air Solutions, one of the largest independent air compressor distributors in Michigan

The study presents a detailed analysis of various factors that affect Global Industrial Air Compressor Market revenue. The study also comprehensively analyses the industrial air compressor market by segmenting it based on geography (Asia-Pacific, North America, Europe, ROW), based on the operation (Positive displacement Air Compressor, Roto-Dynamic Air Compressor), based on the product (Portable Air Compressor, Stationary Air Compressor).

Publisher's Global Industrial Air Compressor Market report provides insights into the current global and regional market demand scenario and its outlook.

The report also addresses present and future market opportunities, trends, developments in the Global Industrial Air Compressor Market, critical commercial developments, regions, and segments poised for the fastest-growing, competitive landscape.

Further, the report will include the Global Industrial Air Compressor Market size (CAGR), demand forecast, growth rate.


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