The Industrial Air Compressor Market is expected to reach USD 63.9 billion by 2030, growing at a CAGR of 7.02% between 2023 and 2030.
The rising demand for industrial air compressors from the oil and gas industry and the rising demand for energy-efficient industrial air compressors are expected to drive market growth during the forecast period.
Despite significant advances in alternative energy sources, market demand for oil and oil-based products grows in lockstep with global population growth.
Large and small businesses rely heavily on industrial compressors in today’s oil and gas industry. Furthermore, energy-efficient compressed air solutions are becoming more popular with a growing emphasis on energy costs and increased greenhouse gas (GHG) emissions. During the forecast period, increased automation and rising urbanization in emerging economies are expected to drive market growth.
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For HVAC and other critical units used in compressors, manufacturing industries around the world used to import compressors and their components from China. However, due to the COVID-19 outbreak, Chinese vendors closed their factories, temporarily halting production. Since the number of COVID-19 cases in China has decreased, vendors with manufacturing plants in the region have increased component prices by nearly 2-3% due to a supply shortage caused by factory shutdown.
As a result, the entire supply chain from China has been impacted. The COVID-19 spread has also fueled innovation in the compressors segment, with vendors ramping up production to meet the unexpected surge in demand.
The industrial air compressor landscape offers a diverse range of options to meet various compressed air applications. Rotary screw compressors, known for their reliability and efficiency, are favored by many industries due to their continuous operation and energy-saving features. In contrast, reciprocating air compressors find their place in applications requiring intermittent bursts of compressed air. Industrial Air Compressor Market Size stand out for their high flow rates and are commonly used in large-scale industrial settings. For applications demanding pristine air quality, oil-free air compressors are the choice, preventing contamination. Portable air compressors provide flexibility in usage across different locations, while manufacturers specializing in industrial air compressors cater to bespoke solutions.
The global industrial air compressor market is segmented based on pressure, seal, type and end-user.
According to the pressure:
According to the seal:
According to the type:
According to the end-user:
The global industrial air compressor market size has been divided into the Middle East and Africa, Asia-Pacific, South America, North America, Europe, and the rest of the world.
The Asia-Pacific region had the highest revenue share. The region saw a surge in investments in the hydrogen and green energy sectors to meet its energy demand while adhering to decarbonization policies. The demand for air compressors in various applications, including food and beverage, manufacturing, home appliances, and the oil and gas industries, propels the market growth.
Furthermore, multiple manufacturers and Taiwan’s significant electronics and semiconductor manufacturing industrial base are likely to drive market growth.
Furthermore, North America is expected to grow rapidly in the global market. The growing number of industrial infrastructure projects and the ongoing investment in all process sectors, particularly the oil and gas industry, support market expansion across all industry domains. Furthermore, IoT adoption, initiatives such as Industry 4.0, and technological breakthroughs related to new product development are expected to boost market demand.
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Here are some of the key trends driving the growth of the industrial air compressor market:
Rapid industrialization and automation in emerging economies: The rapid industrialization and automation in emerging economies, such as China, India, and Brazil, is driving the demand for industrial air compressors. These economies are experiencing a growing need for compressed air to power various industrial processes, such as manufacturing, construction, and mining.
Increasing demand for energy-efficient air compressors: The increasing demand for energy-efficient air compressors is another major trend driving the market growth. Industrial air compressors can consume a significant amount of energy, so businesses are looking for ways to reduce their energy costs. As a result, there is a growing demand for energy-efficient air compressors that can help businesses save money on their energy bills.
Growing demand for oil-free compressors: The growing demand for oil-free compressors is another key trend driving the market growth. Oil-free compressors are becoming increasingly popular in various industries, such as food and beverage, pharmaceutical, and electronics, as they produce clean, oil-free compressed air that is essential for these industries.
Technological advancements: The technological advancements in the industrial air compressor market are also driving the market growth. Manufacturers are constantly developing new and improved air compressors with advanced features, such as improved energy efficiency, reliability, and performance.
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