Global Compressor Market

Compressor Market Size, Share, Growth Analysis, By Technology(Oil-free, Oil lubricated), By Type(Positive Displacement, Dynamic), By Pressure Rating(Low-Pressure Compressors (0-20 bar), Medium-Pressure Compressors (20-100 bar), High-Pressure Compressors (100+ bar)), By End-User(Oil and Gas, Power, Manufacturing, Chemicals and Petrochemical), By Region(North America, Europe, Asia-Pacific, Latin America), By Region - Industry Forecast 2025-2032


Report ID: SQMIG10B2101 | Region: Global | Published Date: April, 2024
Pages: 177 | Tables: 86 | Figures: 71

Compressor Market Dynamics

Drivers

Growing Trend Towards Energy Efficiency and Cost Saving Driving the Compressor Market

  • Compressors face extensive competition from other blower types such as screw and radial compressors. However, interest in Compressors will continue to grow due to cost effectiveness and demand resulting from replacement of more spicy compressors. Close to sustained interest in the assembly industry, future priority promoting market development and the development of Chinese oil and materials industries. Oil consumption must increase over time, taking up energy and fuel consumption. The development of accent in energy efficiency is set to support the market growth of compressors with reciprocating in the coming years besides the modern development in China, vehicle development as well as applications as treatment centers, LNG and CNG transport can push compressors interest.

Technological Advancements Leading Market to Heights

  • Technical connectivity will increase interest in gas-reactive compressors as manufacturers shift their cycles from critical work to new product design. Interest in rotating gas compressors will continue throughout China as they are exceptionally economical. The competing oil-free compressor segment is also expected to bring tremendous freedom as end customers strive to keep up with industry changes. The reason for this specification is that the installation of oil-free Compressors will be available in food and beverage, gadget, pharmaceutical, products and many other industries within the considered timeframe.

Restraints

High Cost of Advanced Compressor Technology

  • The major restraint in the market is the high cost of advanced basic air conditioning technologies such as oil-free air conditioners, which can restrain small businesses and small enterprises (SMEs). Besides, stringent environmental regulations for air compressors used in certain industries such as oil and gas industry may restrain the market growth. Oil and water blends condensate produced by compressed air is also a challenge, which can be very environmentally damaging.

High Cost of Maintenance

  • Profit margins can be driven by fierce manufacturer price competition, especially for conventional compressors. Continuous ventilation can result in high ongoing operating and maintenance costs, especially for large installations.
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FAQs

Global Compressor Market size was valued at USD 43.73 Billion in 2022 and is poised to grow from USD 45.83 Billion in 2023 to USD 66.74 Billion by 2031, growing at a CAGR of 4.81% in the forecast period (2024-2031).

A notable strategic partnership in the global compressor market exists between Atlas Copco, a leading compressor manufacturer, and Siemens, a global leader in electrical engineering and automation. This collaboration focuses on Siemens, the integration of advanced motor drive technology into Atlas Copco's range of compressor systems. key players in compressor market, such as Ariel Corporation, Atlas Copco AB, Burckhard Compression Holding AG, Gardner Denver Holdings, Inc., General Electric, Howden Group Holdings Ltd., IHI Corporation, Mayekawa Mfg Co, Ltd, SIEMENS AG, and Ingersoll Rand, among others are presented in this report. 'Atlas Copco', 'Bauer Group', 'BelAire Compressors', 'Cook Compression', 'Compressor Products International (CPI)', 'Frank Compressors', 'Galaxy Auto Stationary Equipment Co. Ltd.', 'Gast Manufacturing, Inc.', 'ELGi', 'Sollant Group', 'GENERAL ELECTRIC', 'Ingersoll Rand Plc', 'Kaeser Compressors', 'MAT Industries, LLC', 'Gardner Denver'

Compressors face extensive competition from other blower types such as screw and radial compressors. However, interest in Compressors will continue to grow due to cost effectiveness and demand resulting from replacement of more spicy compressors. Close to sustained interest in the assembly industry, future priority promoting market development and the development of Chinese oil and materials industries. Oil consumption must increase over time, taking up energy and fuel consumption. The development of accent in energy efficiency is set to support the market growth of compressors with reciprocating in the coming years besides the modern development in China, vehicle development as well as applications as treatment centers, LNG and CNG transport can push compressors interest.

Increasing Focus on Energy Efficiency and Sustainability: One of the long-term trends shaping the global compressor market is the increasing focus on energy efficiency and sustainability. As businesses strive to reduce their carbon footprint and comply with stricter environmental regulations, the need for energy-efficient compressor solutions that reduce energy consumption and air an increases greenhouse gas emissions and is investing in R&D to develop new refrigerant refrigerants. This trend is expected to drive adoption of next-generation compressors equipped with features such as variable-speed drives, integrated heat recovery systems, and advanced monitoring and optimization capabilities. Moreover, an increased emphasis on sustainability and corporate social responsibility drives companies to offer environmentally friendly compressor technology priority as all part of the technology strategy, which influences purchasing decisions and market dynamics in the long term.

Asia-Pacific region dominated the market with 41.9% revenue share in 2022 and is expected to witness fastest CAGR of 5.0% during the forecast period. The healthcare industry is growing with demand increasing for medical facilities in this region. Accordingly, oil-free compressed air is commonly used in medical devices and pharmaceutical companies, including medical ventilation systems, dental clinics, and laboratories to supply the market demand in the region. Compressors require mandatory use as part of industry standards and regulatory frameworks, especially in chemical companies. These factors are expected to boost market demand during the forecast period.

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Global Compressor Market

Report ID: SQMIG10B2101

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