Air compressors are used in numerous industrial and non-industrial processes across the globe. It enables the supply and control of air and gas by compressing the gas inside the cylinders with the help of a piston. Air-compressors, along with check-valves, regulate the flow of gas according to the requirements in different industrial processes.
Rapid growth in automobile industry, increasing adoption of energy saving equipment for various operations, technological advancements in power generations sectors, are the key factors expected to augment the air compressors market growth, in the forecast period. Rising demand for efficient air compressors resulting in improved industrial and non-industrial infrastructure, are also to add to the market growth.
The market is marked by the presence of international and regional vendors, especially based in Asia Pacific. International vendors are trying to differentiate their products by developing and designing technologically advanced compressors. The current research and development programs undertaken by major players, will facilitate the launch of more efficient air compressors. This will help mitigate the noise and air contamination concerns prevalent in their traditional counterparts. Furthermore, the potential innovation in technology would drive the higher uptake of air compressors in the construction industry, especially across developing counties. This would enable enterprises operating in the global air compressor market, rake higher profit in the forthcoming years.
The Global Air Compressor Market is expected to grow at ~ 7.5% CAGR during the forecast period.
The key players of Global Air Compressor Market are
- Atlas Copco AB (Sweden),
- Sullair, L.L.C. (U.S.),
- Gardner Denver (U.S.),
- Kaeser compressors SE (Germany),
- Ingersoll Rand (U.S.),
- Rolair Systems. (U.S.),
- Doosan Portable Power (U.S.),
- Sullivan-Palatek, Inc. (U.S.),
- Elgi Equipments Ltd. (India),
- Bauer Compressors, Inc. (U.S.),
- Emerson Electric Co. (U.S.),
- Hitachi Industrial Equipment Systems Co.,Ltd. (Japan).
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Market Research Analysis
Stationary by product, rotary by technology, oil free by lubrication and home appliances by end-use, are expected to grow at the highest CAGR.
Global air compressor market has been segmented based on product, technology, lubrication, end-use and region. Based on product the market is segmented into portable and stationary. Among these the stationary type, is projected to dominate the air compressor market through 2023. Extensive use of stationary machineries in end-use industries such as manufacturing, home appliances, and automobile would enhance the air compressor market in the future. Based on technology, the market is segmented into rotary, reciprocating and centrifugal. Rotary dominated the market in 2016 and is projected to be the fastest-growing technology segment for air compressor. Rotary air compressors are highly efficient and are low on maintenance cost Based on lubrication, the market is segmented into oil free and oil filled. Rising food safety and security grades due to infections, hazards, and food contamination will drive the oil free air compressor market demand in the forecast period. Based on end-use, the market is segmented into home appliances, food & beverage industry, oil & gas industry, energy industry, semiconductors & electronics industry, manufacturing industry and healthcare industry. Considering value, the home appliances segment holds a maximum share in the global air compressor market, and will grow at an exponential rate in the coming years. The product has the highest number of application in the air conditioners, refrigerators and tire inflation. Increasing demand for home appliances in developing countries will further boost the air compressor market.
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Asia Pacific Air Compressor market, expected to grow at the highest CAGR
The global air compressor market is segmented into four prominent regions of Asia Pacific, North America, Europe and Rest of the World. The Asia Pacific region accounted for the largest share of the air compressor market in 2016, wherein China was the largest country-level market followed by India and Japan. Rise in natural gas infrastructure, and growth in manufacturing activity have resulted in phenomenal growth for air compressor in the region. Asia Pacific air compressor market is expected to grow at the highest CAGR during the forecast period. Riding on the back of intensification of power generation, extraction of oil & gas, up-surged demand from refineries are projected to open new avenues for the suppliers in Asia Pacific region
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