Market Highlights
Air compressors are used in
numerous industrial and non-industrial processes across the globe. It enables
the supply and control of air and gas by compressing the gas inside the cylinders
with the help of a piston. Air-compressors, along with check-valves, regulate
the flow of gas according to the requirements in different industrial
processes. The global air compressor market is expected to grow at 7.5% CAGR
during the forecast period.
Rapid growth in automobile
industry, increasing adoption of energy saving equipment for various
operations, technological advancements in power generations sectors, are the
key factors expected to augment the air compressors market growth, in the
forecast period. Rising demand for efficient air compressors resulting in
improved industrial and non-industrial infrastructure, are also to add to the
market growth.
Industry Overview
The market is marked by the
presence of international and regional vendors, especially based in Asia
Pacific. International vendors are trying to differentiate their products by
developing and designing technologically advanced compressors. The current
research and development programs undertaken by major players, will facilitate
the launch of more efficient air compressors. This will help mitigate the noise
and air contamination concerns prevalent in their traditional counterparts.
Furthermore, the potential innovation in technology would drive the higher
uptake of air compressors in the construction industry, especially across
developing counties. This would enable enterprises operating in the global air
compressor market, rake higher profit in the forthcoming years.
Key Players
The key players of global air
compressor market are Atlas Copco AB (Sweden), Sullair, L.L.C. (U.S.), Gardner
Denver (U.S.), Kaeser compressors SE (Germany), Ingersoll Rand (U.S.), Rolair
Systems. (U.S.), Doosan Portable Power (U.S.), Sullivan-Palatek, Inc. (U.S.),
Elgi Equipments Ltd. (India), Bauer Compressors, Inc. (U.S.), Emerson Electric
Co. (U.S.), and Hitachi Industrial Equipment Systems Co.,Ltd. (Japan).
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Industry Segmentation
Th global air compressor
market has been segmented based on product, technology, lubrication, end-use
and region.
Based on product the market is
segmented into portable and stationary. Among these the stationary type, is
projected to dominate the air compressor market through 2023. Extensive use of
stationary machineries in end-use industries such as manufacturing, home
appliances, and automobile would enhance the air compressor market in the
future.
Based on technology, the
market is segmented into rotary, reciprocating and centrifugal. Rotary
dominated the market in 2016 and is projected to be the fastest-growing
technology segment for air compressor. Rotary air compressors are highly
efficient and are low on maintenance cost Based on lubrication, the market is
segmented into oil free and oil filled. Rising food safety and security grades
due to infections, hazards, and food contamination will drive the oil free air
compressor market demand in the forecast period.
Based on end-use, the market
is segmented into home appliances, food & beverage industry, oil & gas
industry, energy industry, semiconductors & electronics industry,
manufacturing industry and healthcare industry. Considering value, the home
appliances segment holds a maximum share in the global air compressor market
and will grow at an exponential rate in the coming years. The product has the
highest number of applications in the air conditioners, refrigerators and tire
inflation. Increasing demand for home appliances in developing countries will
further boost the air compressor market.
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