Industrial Air Compressor Market 2020 Size, Share, Leading Growth Drivers, Emerging Audience, Segments, Industry Sales, Profits & Analysis 2023
Industrial Air Compressor Market Scenario
Industrial air compressors are used to increase pressure by converting power into potential energy and stored as pressurized air. This pressurized air is used to compress gas for transport, cutting & welding and cooling among other applications. This has led to the increasing installation of air compressors across industries. A detailed analysis report of COVID-19 impact on Industrial Air Compressor Market is provided with the report.
The major factors driving the global industrial air compressor market growth include energy efficiency and easy maintenance. Other factors contributing to the market growth include rising demand for energy efficient compressors, rising industrialization, rising energy consumption, and global expansion of liquefaction facilities. However, factors such as strict government regulations regarding emission of greenhouse gases and noise pollution can restrain the market growth.
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Moreover, Regulations and requirements related to carbon dioxide emissions from products and industrial processes are expected to increase. Additionally, increasing home appliances demand in emerging regions is projected to drive the air compressor industry in the forecasted years.
Industrial Air Compressor Market Segmental Analysis
The global industrial air compressor market has been segmented on the basis of end-use, pressure, seal, type, and lastly, region.
Based on end-user, this market has been segmented into chemicals & petrochemicals, oil & gas, manufacturing, and others.
The pressure-based segmentation segments this market into up to 20 bar, 20-100 bar, above 100 bar.
On the basis of the seal, the market has been segmented into oil-lubricated and oil-free.
By type, the industrial air compressor market has been segmented into dynamic displacement and positive displacement.
Top Players
Atlas Copco (Sweden), Danfoss (Denmark), Elliott Group Ltd. (USA), Gardner Denver (USA), GE Oil & Gas (USA), Hitachi Ltd (Japan), Howden Group Ltd. (UK), Ingersoll-Rand PLC (Ireland), Kirloskar Pneumatics Co. Ltd. (India), Kobe Steel Ltd. (Japan), Mitsubishi Heavy Industries, Ltd. (Japan), Sullair LLC (USA), and Sulzer AG (Switzerland).
Regional Analysis
The regional segmentation of the global industrial air compressor market segments the market into the regional markets known as North America, South America, Asia Pacific, Europe, and the Middle East & Africa (MEA).
Asia-Pacific is currently the largest market for industrial air compressors, closely followed by North America, Asia pacific market is growing due to the growing natural gas infrastructure in the country. China is referred as world’s one of the manufacturing hub due to the easy availability of resources and labors. Growing requirement for superior air quality as well as reliability is projected to stimulate growth of the market. Moreover, number of companies shifted focus to developing eco-friendly devices, along with reducing maintenance requirements and also encourage consumers to migrate from traditional products to more energy efficient alternatives.
In North America and Europe, the market is significant due to the presence of gasification plants, liquefaction plants, technological advancement, established industries, and the presence of many key market players. In North America, the most important country-specific markets are USA, Canada, and Mexico. In Europe, such markets are France, Germany, Russia, and the UK, followed by the remaining countries of Europe.
The MEA region has been anticipated to emerge as the fastest growing market during the forecast period due to the presence of many reservoirs in this region. Another factor contributing to the market growth in this region is the rising demand for air compressors in various manufacturing industries. The critical country-specific markets in this region are Saudi Arabia, South Africa, and the UAE, followed by the remaining countries of the MEA region.
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