The ‘Global Air Compressor Market’ was valued $XX Billion in 2020 and is expected to reach $XX Billion at the CAGR of XX% between 2021 and 2031.
Air Compressor Market are designed to compress normal atmospheric air to higher pressures and strap this potential energy source. Air compressors monitor and supply air or gas for several non-industrial and industrial activities. Air when compressed is under greater pressure than that of the normal atmospheric pressure. Compressed air offers rotation power and torque for pneumatic tools, like brushes, drills, riveting guns, nut runners and screwdrivers. Common applications of compressed air in construction sites and industrial plants are staplers, air-powered nail guns, screwdrivers, torque wrenches, conveying of material and paint spraying. In air conveying and in paint spraying, the dynamic pressure of the air transmits motion. Recent development of air compressors minimizes the maintenance costs and is therefore adopted by numerous industries including food & beverages, automobiles, air blast circuits, oil & gas, chemical plants, pharmaceuticals and many more. Technological innovation has increased the adoption of air compressors in developed countries and hence it is expected to augment the market growth over the forecast period of 2021-2031.
Air Compressor Market act as power source for machines and tools in the building and construction activities and various other industrial applications. Increasing power efficiency measures is estimated to propel the global air compressor market and boost the product development initiatives. Ease of handling and low maintenance cost are some of the major advantages that is expected to make a positive impact on the air compressor market. Continuous technological development by key players to limit the noise generation and air contamination, is one of the major factor driving the growth of the global air compressor market. Moreover, introduction of electric, lighter weight and portable air compressor machines is boosting the demand of this market. Owing to the cause of oil contamination by oil filled air compressor, oil free machines is witnessing a rapid growth in the food & beverages industries. Moving forward, increasing adoption of air compressors in construction activities is further expected to make the market more demanding in the coming years.
Major application of air compressor mentioned in the report includes oil & gas, food & beverage, chemical plants, automobiles, air blast circuits, electronics and others.Theair compressor market in report is segmented bytypes which includes rotary compressor, reciprocating compressors and roto-dynamic compressors. The rotary compressor type is further sub-segmented as screw, vane and scroll. The reciprocating compressors segment is further divided as v-shaped, single-acting, double-acting and others. Moreover, the roto-dynamic compressor type segment is sub segmented as centrifugal and axial-flow. Moving forward, on the basis of lubrication the air compressor market is analyzed as oil free and oil lubricated air compressors. The global air compressors market has been moreover segmented geographically into North America, Europe, Asia-Pacific, Middle East and Africa and Latin America.
Further down, among the different types of air compressors, the rotary compressor segment is witnessing a huge market growth owing to its rising demand for application in heavy industries. The centrifugal compressor segment is estimated to become another most profitable segment in the projection period due to its built-in thermal overload for motor protection, cooler running pump, oil lubricated pump and cast-iron cylinder.
In addition to this, increasing number of infrastructure projects and fast growing pharmaceutical industries in Asia-Pacific, makes the region held the largest market share. Moreover, evolution of next-generation air compressor systems with eco-friendly and low maintenance features are mainly driving the European and North America market. Presence of large manufacturing industries in the U.S., Germany, Italy and France, has therefore increased the demand of air compressors in this region. Moving forward, rapid growth of pharmaceutical and chemical industries in countries like Brazil and Chile, therefore creates a high demand of air compressors in Latin-America region. Likewise, new infrastructure projects and increasing investment in the construction industry fuels the growth of the air compressor market in the Middle East and Africa region. Increasing demand of eco-friendly air compressors in oil & gas industries, is expected to garnish the market growth of air compressors over the next eight years.
However, increasing cost of raw materials and strict government rules regarding the noise levels of air compressors, may pose a threat to the global market over the projection period.
Some of the major players in the global air compressor market include Airtex Compressors, Grainger Company, VMAC Company, Frank Technologies, Bauer Compressors and few others.
The Global Air Compressor Market Has Been Segmented into:
Global Air Compressor Market: By Types
Global Air Compressor Market: By Lubrication
Global Air Compressor Market: By Application
Global Air Compressor Market: By Geography