Air Compressor Market Report By Product (Portable & Stationary), Technology (Rotary, Reciprocating and Centrifugal), Lubrication (Oil Free & Oil Filled), End-use (Home Appliances, Food & Beverage, Oil & Gas, Energy, Semiconductors & Electronics, Manufacturing and Healthcare) and By Region – Forecast to 2023
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Segmental Analysis:
The air compressor market is segmented on the basis of product, lubrication, end use, and technology by Market Research Future.
By lubrication, the market is segmented into oil free and oil filled. An upsurge in the awareness regarding contamination is estimated to augment the oil-free segment.
On the basis of technology, the air compressor market is segmented into rotary, reciprocating, and centrifugal. The rotary segment is anticipated to dictate the air compressor market due to its low maintenance and higher efficiency.
By product, the market is segmented into stationery and portable. The stationery segment is estimated to garner dominating growth during the forecast period due to a rapid rise in its adoption by various industrial and non-industrial sectors.
By end user, the air compressor market is segmented into home appliances, food & beverage industry, oil & gas industry, energy industry, semiconductors & electronics industry, manufacturing industry, and healthcare industry. The home appliances sector is expected to witness a major push due to rapid urbanization.
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Global Air Compressor Market Scenario:
The global air compressor market has projected continued growth in the last few years and is estimated to witness remarkable CAGR of 7.5% during the assessment period. One of the prime factors contributing to such growth is the prospering industrialization in many developing economies around the globe.
The air compressor is a device used to convert power into potential energy which is stored in compressed air. It uses an electric motor, diesel or a gasoline engine to convert such power into potential energy. The air can be compressed using various methods, one of which includes forcing more air into the storage tank, hence increasing the pressure. The compressed air energy can be used for multiple applications in pneumatic tools like jackhammers, filling of tires, oxidation of petroleum coking, and cement plant bag house purge systems.
The growing development of energy-efficient air compressor units is likely to be the major driver for the global air compressor market over the forecast period. With many industrial players still using legacy air compressor systems that rank low in terms of energy efficiency and environmental viability, there is significant scope for energy-efficiency air compressor units that deliver comparable results at a lower energy footprint. This is likely to be a major trend in the global air compressor market over the forecast period.
Competitive Analysis:
Leading players in the global air compressor market include Hitachi Industrial Equipment Systems Co. Ltd., Emerson Electric Co., Bauer Compressors Inc., Elgi Equipments Ltd., Sullivan-Palatek Inc., Doosan Portable Power, Rolair Systems, Ingersoll Rand, Kaeser Compressors SE, Gardner Denver, Sullair LLC, and Atlas Copco AB.
Regional Outlook:
Region-wise segmentation of the global air compressor market includes North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
The Asia Pacific is currently accounting for a substantial market share for air compressors and is also estimated to witness the fastest growth rate owing to a surge in the urbanization and appreciation in industries across various sectors. China, India, and Japan are expected to drive significant growth in the air compressors market in the Asia Pacific.
Europe and North America are also likely to emerge as major regional markets for air compressors over the forecast period due to the increasing demand for advanced, energy-efficient home appliances and the growing demand for energy-efficient air compressor units in the industrial sector.
Industry Update:
March 2019: VMAC released DTM70, a new generation direct-transmission mounted PTO driven air compressor which produces up to 70 CFM at 100 and is popular in various industries like commercial tire services, utility servicing, heavy equipment repair, and oil & gas mobile mechanics.
February 2019: Elgi launches Direct Drive Piston compressor which is a direct drive reciprocating air compressor. The third-generation direct drive piston offers various benefits such as longer piston life due to lower piston speed, precise tolerance, as well as, effective transmission.
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