North America Air Compressor Market Size, Share, Growth Analysis, By Product(Portable, Stationary), By Technology(Rotary, Screw, Scroll, Others), By Lubrication(Oil-free, Oil-filled), By Region - Industry Forecast 2024-2031

North America Air Compressor Market size was valued at USD 25.12 billion in 2021 and is poised to grow from USD 26.63 billion in 2022 to USD 42.44 billion by 2030, growing at a CAGR of 6% in the forecast period (2023-2030).

The surge in demand for household appliances like refrigerators and air conditioners, coupled with the elevation of living standards, will exert a significant influence on the need for air compressors. Simultaneously, the automotive sector's expansion, escalating mining and oil exploration activities, and advancements in the energy and power generation domains are set to foster positive growth within the regional market. The robust energy and healthcare industries in the U.S. will serve as additional catalysts, further elevating the demand for these products.

The North American compressor market is expected to be propelled by the escalating demand from refineries and petrochemical plants, where compressors play a vital role in various gas-related operations. On the contrary, the growing adoption of renewable energy sources that circumvent the need for compressors could present a restraint. However, the abundance of proven shale reserves in countries like Canada and Mexico is poised to fuel gas transportation needs, thereby opening up numerous opportunities for the North American compressor market.

Given the United States' prominent position in terms of oil and gas refining capacity within the region, it is projected to take the lead in the North American compressor market. The convergence of these factors showcases the intricate interplay of trends, challenges, and opportunities shaping the trajectory of the North American air compressor landscape.

North America Air Compressor Market is poised to grow at a sustainable CAGR for the next forecast year.