What is the global market size of Air Compressor Market?

Global Air Compressor Market size was valued at USD 32171.86 million in 2021 and is poised to grow from USD 33265.7 million in 2022 to USD 44945.02 million by 2030, growing at a CAGR of 3.4% in the forecast period (2023-2030).

Air Compressor Market Size, Share, Growth Analysis, By Type (Portable, Stationary), By Product (Reciprocating, Rotary), By Application (Manufacturing, Food & Beverage, Home Appliances, Healthcare), By Lubrication (Oil Filled, Oil Free), By Region - Industry Forecast 2024-2031

Report ID: SQSG20I2028 | Region: Global | Published Date: November, 2024
Pages: 247 | Tables: 91 | Figures: 76

Air Compressor Market Dynamics

Air Compressor Market Drivers

Growing requirement of highly durable compressors in various drilling procedures with a tremendous rise in the usage of heavy machinery and equipment across many end-use industries are expected to be the major driving factors for the growth of the global air compressor market during the forecast period. Furthermore, increased consumer disposable income especially in developing nations such as China, Brazil, and India is expected to be another key factors driving the growth of the market over the coming years.

Air Compressor Market Restraint

High installation cost associated with modern compressors and need for high initial procurement are expected to restrain the global market over the forecast period. Several types of compressor require frequent maintenance and regular servicing for proper and efficient functioning is likely to hamper the global demand for air compressors in the near future.

Air Compressor Market Report Snapshots

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Global Air Compressor Market size was valued at USD 25.2 Billion in 2019 and is poised to grow from USD 26.45 Billion in 2023 to USD 38.5 Billion by 2031, growing at a CAGR of 4.8% in the forecast period (2024-2031).

The global air compressor market is highly fragmented with the existence of several international and regional market players operating all around the globe. The major players are implementing on various business strategies including mergers, acquisitions, collaborations, partnerships, and new product launches for expanding their geographical presence and product portfolio along with strengthen their market position. 'Atlas Copco ', 'Ingersoll-Rand plc ', 'Kaeser Kompressoren SE ', 'Gardner Denver, Inc. (Ingersoll Rand) ', 'Sullair LLC (Hitachi) ', 'ELGi Equipments Limited ', 'Hitachi Industrial Equipment Systems Co., Ltd. ', 'Mitsubishi Heavy Industries, Ltd. ', 'Quincy Compressor LLC ', 'Doosan Portable Power ', 'Boge Compressors GmbH & Co. KG ', 'VMAC Global Technology Inc. ', 'Rolair Systems ', 'Fusheng Co., Ltd. ', 'Bauer Compressors, Inc. ', 'Air Squared, Inc. ', 'California Air Tools, Inc. ', 'Mattei Compressors, Inc. ', 'AireTex Compressors LLC ', 'Anest Iwata Corporation '

Growing requirement of highly durable compressors in various drilling procedures with a tremendous rise in the usage of heavy machinery and equipment across many end-use industries are expected to be the major driving factors for the growth of the global air compressor market during the forecast period. Furthermore, increased consumer disposable income especially in developing nations such as China, Brazil, and India is expected to be another key factors driving the growth of the market over the coming years.

An extensive increase in procurement of rotary screw compressors and replacement of conventional compressors are fostering the global sales for air compressors. Furthermore, increasing integration of these type of compressors in manufacturing applications of rotary air compressors is enhancing the global market. Additionally, stringent rules and regulations imposed by several government bodies in various regions are highly encouraging facility operators to deploy advanced and innovated rotary screw compressors to cater the growing consumer needs.

Globally, Asia Pacific region dominated the air compressor market owing to high growth in government investments in infrastructure development and rapidly growing industrialization in the region. In addition, the regional market is majorly driven with the rising demand for air compressors in several applications including food and beverage, manufacturing, oil and gas industries, and home appliances. The presence of large market manufacturers of compressors in the region such as India and China coupled with the large base for electronics and semiconductors are further projected to drive the growth of the market.

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Air Compressor Market Size, Share, Growth Analysis, By Type (Portable, Stationary), By Product (Reciprocating, Rotary), By Application (Manufacturing, Food & Beverage, Home Appliances, Healthcare), By Lubrication (Oil Filled, Oil Free), By Region - Industry Forecast 2024-2031

Air Compressor Market Dynamics

Air Compressor Market Report Snapshots

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