Air Compressor Market

The global air compressor market size was estimated to be US$ 32 billion in 2019 and expected to reach US$ 45 billion by 2030 at a CAGR of 3.2%. According to European Investment Bank, Europe will need US$ 832 billion of investments in the future for transport, energy, water, and sanitation. Moreover, EU will also require another US$171 billion investments in education, health, and social housing per year. According to Oxford Economics, a global think tank, the global infrastructure is in need of USD94 trillion investments between 2016-2040. The World Economic Forum estimates this amount to be US$15 trillion between 2020-2040. Regardless of the source of origin, it is clear that the world governing bodies are increasingly focus on infrastructure developments. For example, China has already invested US$ 755 billion on its signature Belt & Road initiative from 2013 to 2020. Moreover, Indian finance minister announced a funding of US$ 1.4 trillion in its infrastructure between 2019-2023.

The growing demand for infrastructure developments will provide a major boost for various sectors, but mainly for construction, and manufacturing. These two sectors are major end-consumer of air compressor products. Air compressor are essential in the construction industry for lifting heavy objects, bulk drilling, handling, and other requirements. Moreover, air compressors are essential for specific purpose of infrastructure development, thanks to the heavy-load operations for demolition, road building, and large size of public projects. The growing demand for air compressors in the construction industry, and major demand for infrastructure developments will provide impetus for growth for the air compressor market.

Rising Demand for HVAC Systems to Create Robust Opportunities 

According to the Bureau of Labor Stastics in the United States, the demand for HVAC technicians will likely grow by 21% between 2012-2022. The demand is expected to rise for technicians as over 103 million Americans own HVAC systems. Moreover, in 2019, over 50 million new HVAC systems were sold in China. Furthermore, the product advancement in HVAC systems have led to new systems with built-in motor systems. These will increase the operation of air compressors as these work even when end-products like electrical vehicles are switched off. These also lead to better fuel-efficiency among vehicles, and provide comfortable cabin temperatures, a necessity among luxury electric vehicles. The growing demand for electric vehicles, rising demand for home-based HVAC systems in emerging nations, and growing technological advancement will promise major growth for the air compressor market.

Rising Demand for Energy is the Key to Growth of the Air Compressor Market

Air compressor have many applications in the energy sector. The conventional diesel, and petrol based compressors are highly in demand in the energy sector, thanks to requirement for supplying high-pressure clean air to fill gas cylinders, building pneumatic, provide surface supplied diver, among others. The global energy demand is estimated to reach 778 Etta Joule by 2035. Moreover, the demand is likely to come from key conventional industries like Oil & Gas, which require high-usage of air compressors with complex off-shore applications. The growing reliance on new forms of energy, and rising demand for traditional energy despite increasing partake of renewable energy remains a key driver to growth in the air compressor market. The growing demand for energy to continue offshore Oil & Gas drilling, and increased reliance on countries like the US on the offshore sites near Mexico, will also be a major positive for growth in the air compressor market.

The landscape of the air compressor market remains competitive and innovative, thanks to growing investments by key players. Some major players in the air compressor market are, Hitachi Ltd, Elgi Equipments Ltd, Doosan Infracore Co., Atlas Copco AB, among others.

The Air Compressor Market Report is Segmented as Below:

By Type 

• Portable
• Stationary

By Product 

• Reciprocating/Piston
• Rotary/Screw
• Centrifugal

By Lubrication 

• Oil-Filled
• Oil-Free

By Application

• Manufacturing
• Semiconductors & Electronics
• Food & Beverage
• Healthcare/ Medical
• Home Appliances
• Energy
• Oil & Gas
• Others

By Region

• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• Japan
• China
• India
• Australia
• Rest of APAC
• South America
• Brazil
• Rest of South America
• Middle East & Africa
• UAE
• South Africa
• Saudi Arabia
• Rest of MEA