Air Compressor Market Size, Demand and Witness Highest Growth in near future by 2030

The Global Air Compressor Market size valued to USD 21.55 billion in 2019, is expected an elevation of USD 32.06 billion by 2030, witnessing a CAGR of 3.6% from 2020-2030.

Air compressors are devices that by utilizing electric motors or diesel engine or gasoline engines, converts power into potential energy, stored in compressed air. The kinetic energy of compressed air further employs to carter the energy requirements for a variety of applications like various equipment, tools, and machineries across different industry verticals. Air compressors assist various operations like vacuum packaging, air blowing, tool powering, spray painting, cleaning, dehydrating, as well as in transportation of fluids, manufacturing of petrochemical products, in medical equipment, cooling applications and operating pneumatically based machineries.

The global air compressor market garnered 10,181.5 thousand units in 2019, and is expected to grow by 14,859.4 thousand units till 2030, witnessing a CAGR of 3.4% from 2020-2030.

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Top Companies: AireTex Compressor, Bauer Group, Atlas Copco, BelAire Compressors, Cook Compression, Frank Compressors, Compressor Products International (CPI), Galaxy Auto Service Equipment Co. Ltd., Gast Manufacturing, Inc., Ingersoll Rand Plc, GENERAL ELECTRIC, MAT Industries, LLC, Kaeser Compressors and Sullair LLC.

Market Dynamics and Trends

The global air compressor market is observing lucrative growth owing to stringent regulatory standards regarding environment conservation, supportive government policies on energy conservation, mandatory standards imposed by FDA on food safety, as well as growing consumer awareness about product quality. Besides, product advantages such as higher dependability, low maintenance costs, eco-friendly features, easy handling, and high efficiency, are expected to propel the air compressors market growth in the coming future.

However, factors such as air pollution due to emission of greenhouse gases, stringent government regulations regarding noise pollution, as well as high cost of installations are expected to impede the air compressors market growth during the forecast period.

Moreover, factors such as growing demands for compressed air in several end-use applications, upsurge in usage of several pneumatic equipment, as well as growing demand for constantly monitoring the operations of compressed air installation services, are expected to foster the growth of the global air compressor market in future.

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Market Segmentations and Scope of the Study:

The global air compressor market share analysis is based on type, technology, lubrication method, power rating, end user and geography.

Based on compressor type, the market is segmented into portable and stationary. Based on technology, the market is classified into reciprocating, rotary, and centrifugal. Based on lubrication, the market is bifurcated into Oiled and Oil-free. Based on power rating, the market is divided into 0-100 kW, 101-300 kW, 301-500 kW, as well as 501 kW and above. Based on end user, the market is categorized into food & beverage, oil & gas, manufacturing, medical, power generation, and others. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America denotes a higher adoption of air compressors and it is anticipated hold the highest market share, dominating the global air compressor market throughout the forecast period. This is attributable to factors including presence of advanced technology, high disposable income and growing demand of household appliances.

It is expected that the emerging economies, specifically in the Asia-Pacific region would witness increasing air compressor market size owing to increase in industrialization, urbanization, as well as wide applications of air compressors in various industry verticals.

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