USD 10.20 Billion
Centrifugal Air Compressor Market Size, Share, Growth Analysis, By Product(Portable, and Stationary), By Casing(Horizontally Split, and Vertically Split), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20I2234 |
Region:
Global |
Published Date: February, 2024
Pages:
202
|Tables:
61
|Figures:
75
Centrifugal Air Compressor Market Insights
Global Centrifugal Air Compressor Market size was valued at USD 10.20 Billion in 2021 and is poised to grow from USD 10.35 Billion in 2022 to USD 11.66 Billion by 2030, at a CAGR of 1.5% during the forecast period (2023-2030).
The centrifugal air compressor marketplace has witnessed full-size growth and transformation in recent years, reflecting the growing call for green compressed air structures throughout diverse industries. These compressors perform by converting kinetic power from a rotating impeller into capacity strength, ensuing in the compression of air. This technology is favored for its high performance and ability to supply big volumes of compressed air, making it essential in applications consisting of manufacturing, petrochemicals, healthcare, and creation.
One of the key drivers of the centrifugal air compressor market is the growing industrialization and automation throughout various sectors. Manufacturers and business centers require reliable and strength-green compressed air systems to electricity diverse tools and strategies, contributing to the rising call for centrifugal compressors. Additionally, stringent environmental policies have propelled the need for eco-friendly and strength-efficient compressor answers, aligning with the inherent advantages of centrifugal compressors in terms of decreased strength intake and emissions.
Furthermore, advancements in compressor technology, which includes variable frequency drives (VFDs) and digital manipulate systems, have improved the general efficiency and overall performance of centrifugal air compressors.These innovations enable better control, monitoring, and adaptability of compressed air systems, allowing operators to optimize energy usage and reduce operational costs. As industries increasingly prioritize energy conservation and sustainable practices, the centrifugal air compressor market is poised for continued expansion and innovation, catering to the evolving needs of modern industrial processes.
Market Snapshot - 2023-2030
Global Market Size
Largest Segment
Stationary
Fastest Growth
Stationary
Growth Rate
1.5% CAGR
Global centrifugal air compressor market ($ Bn)
Country Share for Asia Pacific Region (%)
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Centrifugal Air Compressor Market Segmental Analysis
The centrifugal air compressor market is segmented by product, casing, end-user, and region. Based on product the market is segmented as, portable, stationary. Based on casing the market is segmented as, horizontally split, vertically split. Based on end-user the market is segmented as, food & beverages, oil & gas, energy, semiconductor & electronics, manufacturing, healthcare, others. Regionally, the market is segmented as, North America, Europe, Asia-Pacific, and Latin America.
Analysis By Product
In the centrifugal air compressor market, the dominant segment is the stationary category. Stationary centrifugal air compressors are widely used in industrial applications, manufacturing facilities, and large-scale operations where a consistent and continuous supply of compressed air is essential. These compressors are known for their high efficiency, reliability, and durability, making them the preferred choice for heavy-duty tasks. Industries such as petrochemical, manufacturing, and energy rely heavily on stationary centrifugal air compressors to power various processes and equipment, thereby establishing the segment's dominance.
Conversely, the portable centrifugal air compressor segment is the fastest-growing segment in the market. Portable compressors offer flexibility and mobility, making them increasingly popular for construction sites, roadwork, and other applications that require compressed air in different locations. The growing construction and infrastructure development projects globally, along with the need for on-the-go compressed air solutions, have propelled the rapid growth of portable centrifugal air compressors. These compressors cater to industries with dynamic and changing job sites, reflecting their role as the fastest-growing segment in the centrifugal air compressor market.
Analysis By Casing
In the centrifugal air compressor market, the horizontally split casing segment has historically dominated the industry. Horizontally split centrifugal compressors are well-established and widely used due to their ease of maintenance, accessibility for repairs, and versatility across various industrial applications. Their reliability and efficient performance have made them a popular choice for many businesses seeking consistent and high-capacity compressed air solutions.
On the other hand, the vertically split casing segment is experiencing rapid growth and is considered the fastest-growing segment in the market. Vertically split centrifugal compressors offer advantages in terms of space efficiency and reduced installation footprint, making them attractive for industries where space constraints are a concern. Additionally, vertical split compressors can provide enhanced stability and alignment, which can lead to improved overall performance. As industries evolve and seek more compact and energy-efficient solutions, the demand for vertically split centrifugal air compressors is expected to continue growing, driving this segment's expansion in the market.
Global centrifugal air compressor market By Product
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Centrifugal Air Compressor Market Regional Insights
The centrifugal air compressor market demonstrates notable regional disparities, with distinct leaders in terms of market size and influence. Asia-Pacific emerges as the largest and most significant region in this industry. Within Asia-Pacific, China holds a dominant position as a major player in the centrifugal air compressor market. China's robust manufacturing sector, expanding industrial base, and the continual growth of key industries such as manufacturing, energy, and construction have driven substantial demand for centrifugal air compressors.This fashion is likewise attributed to the united states's growing attention on energy efficiency and environmental sustainability.
In the second-largest function, North America plays an extensive role in the centrifugal air compressor marketplace. The United States sticks out as a key player within North America, with a mature commercial sector and a strong emphasis on energy-green answers. The u . S .'s manufacturing centers, together with its oil and fuel industry, have a large requirement for compressed air, thereby riding the demand for centrifugal air compressors. Moreover, america' recognition of superior manufacturing and technological innovations further solidifies its position as a great contributor to the nearby and international centrifugal air compressor marketplace.
Both China in Asia-Pacific and the United States in North America have properly-set up industrial infrastructures and a developing want for compressed air solutions, making them the biggest and 2d-biggest areas inside the centrifugal air compressor market, respectively.
Global centrifugal air compressor market By Geography
- Largest
- Fastest
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Centrifugal Air Compressor Market Dynamics
Drivers
Industrial Growth
- The growth of various industries, consisting of manufacturing, oil and gasoline, petrochemicals, and electricity, drives the demand for compressed air answers, along with centrifugal air compressors.
Energy Efficiency
- Centrifugal air compressors are known for their strength-green operation, making them attractive to industries searching for to lessen power consumption and lower working fees.
Restraints
Space Requirements
- Centrifugal compressors regularly require extra set up area in comparison to other compressor types, which can be a challenge in facilities with confined space.
Limited Turndown Ratio
- Some centrifugal compressors may additionally have limitations in adjusting their output to in shape varying air call for, leading to inefficiencies in the course of intervals of low demand.
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Centrifugal Air Compressor Market Competitive Landscape
The competitive landscape of the centrifugal air compressor market is characterized by the presence of several global and regional players, each vying for market share in this dynamic industry. Some of the prominent companies in this market include Atlas Copco, Ingersoll Rand, Siemens AG, Gardner Denver Holdings, and Kobe Steel Ltd., among others. These companies are renowned for their innovation, product quality, and comprehensive range of centrifugal air compressors catering to diverse industries such as manufacturing, oil and gas, petrochemicals, and energy.
Top Player’s Company Profiles
- Atlas Copco
- Ingersoll Rand
- Siemens AG
- Gardner Denver Holdings (now part of Ingersoll Rand)
- Kobe Steel Ltd. (Kobe Compressors)
- Howden Group Ltd.
- Sullair (a subsidiary of Hitachi)
- Kobelco Compressors America, Inc.
- FS-Elliott Co., LLC
- Kaeser Kompressoren SE
- Elliott Group
- Hitachi Industrial Equipment Systems Co., Ltd.
- MAN Energy Solutions
- Anest Iwata Corporation
- Bauer Kompressoren Group
- Quincy Compressor (a subsidiary of IDEX Corporation)
- Corken, Inc.
- Sundyne LLC
- Boge Kompressoren
- Doosan Portable Power
Recent Developments
- In March 2023, Atlas Copco received AEP, a French distributor of compressors. This acquisition will help Atlas Copco to better serve their clients because AEP has particularly qualified provider technicians.
- In May 2023, Siemens Energy and IRENA (International Renewable Energy Agency) signed a partnership agreement based totally on renewable electricity initiatives to help climatic movements.
- In June 2023, The European Commission announced a brand new investment application to support the improvement of sustainable packaging solutions. The application consists of funding for research and development of centrifugal compressors.
- In July 2023, The Pulp and Paper International Association released a document on the global centrifugal air compressor marketplace. The document estimates that the market will attain $10.57 billion by means of 2028.
- In August 2023, Sullair announced the launch of its new line of centrifugal air compressors which are designed for use inside the meals and beverage industry. The compressors are designed to meet the stern sanitation necessities of the meals and beverage enterprise.
- September 2023: Kaeser Kompressoren introduced the outlet of a brand new manufacturing facility in China. The facility will produce centrifugal air compressors for the Chinese marketplace.
Centrifugal Air Compressor Key Market Trends
- Energy Efficiency Emphasis: Energy efficiency became a prominent fashion, with industries an increasing number of searching for to lessen electricity intake and decrease operational fees. Centrifugal air compressors, recognized for his or her excessive strength efficiency, had been in demand as agencies aimed to meet sustainability goals and observe stringent environmental policies.
- Variable Speed Drives (VSD) Adoption: The adoption of VSD generation in centrifugal air compressors turned into developing. VSDs permit compressors to in shape output with varying air demand, decreasing strength wastage for the duration of intervals of low demand. This trend aimed to optimize compressor overall performance and decorate strength savings.
Centrifugal Air Compressor Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global centrifugal air compressor market analysis, the centrifugal air compressor market, a vital component of industrial processes, exhibited distinct trends influenced by regional dynamics, market segments, and key drivers. Asia-Pacific emerged as the largest regional player, driven by the rapid industrialization of countries like China and India. These nations' robust manufacturing sectors fueled demand for centrifugal air compressors. In terms of segments, oil-free centrifugal compressors gained traction due to their suitability for industries with stringent air quality requirements, such as pharmaceuticals and food processing. Energy efficiency was a prevailing driver across segments, with businesses worldwide seeking to reduce operational costs and environmental impact. Additionally, technological advancements, including variable frequency drives (VFD) and smart control systems, catered to the growing demand for energy-efficient solutions. While the market flourished, the impact of environmental regulations and the need for sustainable practices remained pivotal, shaping the future of the centrifugal air compressor market.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 10.20 Billion |
| Market size value in 2030 | USD 11.66 Billion |
| Growth Rate | 1.5% |
| Base year | 2023 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Centrifugal Air Compressor Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Centrifugal Air Compressor Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Centrifugal Air Compressor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Centrifugal Air Compressor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Centrifugal Air Compressor Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Centrifugal Air Compressor Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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