The global air compressor market is expected to grow at a CAGR of more than 3%over the period of 2020-2025. An air compressor is a device that converts energy generated from diesel or hydraulics to turn it into potential kinetic energy that can be used to compress air and pumping in quick bursts. Factors such as the growing market of oil and gas; especially gas production in countries like the United States, China and India and increasing energy consumption across the globe are expected to drive the air compressor market during the forecast period. Additionally, food and beverages market is showing an increase in demand for air compressors for processes like processing, packaging, cutting, shaping, and many more. Air compressors have been used in many spheres, but the power consumption and amount spent to feed this power is enormous, which challenges the companies involved in this market to improve the working efficiency to further extent. Along with air compression, they also release heat in the environment and dealing with this released heat is a hurdle that needs to be cleared for the benefit of both industry and environment.
- Positive displacement air compressors are expected to grow at a significant rate due to the increase in market share application of appliances like air conditioners, refrigerators, larger industrial applications, such as in metallurgy and mining, papermaking and printing, electronic and electrical, electric power, and mechanical and electrical machinery.
- The technical advancement in the air compressor industry is leading to the development of products that requires less operational and maintenance investment. Like, oil-free systems are expected to witness a rise in demand due to their advantageous application in the food industry.
- Asia-Pacific is estimated to witness a significant growth in the air compressor market owing to the ongoing growth in oil and gas industry of India, China and Japan. Additionally, a broad industrial base for semiconductor and electronics manufacturing in China and Taiwan are projected to drive the market further.
Key Market Trends
Positive Displacement Compressors Expected To Hold Significant Market Share
- In a positive displacement air compressor, the gas is drawn in during the suction stroke of the piston, compressed by decreasing the volume of the gas by moving the piston in the opposite direction, and, lastly, discharged when the gas pressure exceeds the pressure acting on the outlet valve. Reciprocating compressors are useful for supplying small amounts of a gas at high pressures.
- Although the discharge pressure range of rotary type positive displacement compressors is limited, yet they are expected to show a growth in demand because of the growing food and beverage industry. Because of the internal cooling system, these air compressors are designed for continuous use, and range in power from 5 horsepower up to 350 horsepower.
- With technical advancements and rapidly growing demand in the automobile industry, the market share of the compressor is expected to grow significantly. With the help of compressors, assembling of parts can be done rapidly and precisely in this sector.
- Moreover, air conditioners are one of the major applicant of air compressors. With advancement in the living standards globally, sales of air conditioners has driven the market of air compressors.
- Based on multiple growing industries using the positive displacement air compressor, positive displacement air compressors are going to hold a significant market share in the forecast period.
Asia-Pacific To Dominate The Market
- Asia-Pacific is witnessing tremendous growth in industrialisation in different industries, including a small scale to large scale. According to the World Bank's estimates, more than 40% of the GDP in the region is contributed by the industrial and manufacturing activity.
- With growing refining and gas market in countries such as India and China, an increase in the market for air compressors is adamant. Adding to this, considerable investments in the gas pipeline industry are set to boost the air compressor market.
- Stationary air compressors, including small size compressor in refrigerators and air conditioners, holds the significant share of compressor market and growing food and beverage industry is expected to boost the air compressor market.
- The energy and power industry is set to grow in the region due to high investment in power plants from developing nations, such as China, India and is set to drive industrial growth, which is expected to boost the demand for industrial compressors.
The air compressor market is highly fragmented. Some of the key players in this market include Atlas Copco Group, Ingersoll Rand Inc., Siemens AG, Gardner Denver Inc., and Sullair LLC (Hitachi Group).
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