Air Compressor Market Growth & Trends
The global air compressor market size is expected to reach USD 40.43 billion by 2025 registering a CAGR of 3.8% from 2019 to 2025, according to a new study by Grand View Research, Inc. Air compressors find applications in various industries, such as manufacturing, semiconductors & electronics, home appliances, healthcare, oil & gas, food & beverages, and energy. Rising need for reducing CO2 emissions and stringent environment conservation regulations are expected to boost the market growth over the forecast period. Increasing demand for monitoring of compressed air installation services is further contributing to the revenue growth. Moreover, reliability, eco-friendly features, low maintenance costs, and ease of handling offered by the product are boosting its demand.
In addition, need for improved air quality, growing consumer awareness regarding product quality, and supportive government policies on energy conservation are expected to drive the market. Furthermore, growing usage of air compressors in the food & beverage industry due to the mandates on food safety will favorably impact the overall market over the forecast period. Rapid industrialization in developing economies, such as China, India, and other South Asian countries, is a major factor driving the market in Asia Pacific region. Need for efficient and advanced compressors has fueled the product demand across different manufacturing industries in the region. In addition, rising need for after-sales services is expected to offer growth opportunities for key companies in the market.
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Air Compressor Market Report
Air Compressor Market Report Highlights
- The stationary type segment is expected to lead the global air compressor market while portable is projected to be the fastest-growing segment from 2019 to 2025
- The rotary/screw product segment is anticipated to account for the largest market share of 46.71% by 2025. These compressors offer constant air flow at varying discharge pressures and operate via positive displacement. Longer product lifecycles and easy maintenance are expected to boost their demand further
- Key companies in this market include AireTex Compressor; Atlas Copco; Bauer Group; Cook Compression; BelAire Compressors; Compressor Products International (CPI); Frank Compressors; Gast Manufacturing, Inc.; Galaxy Auto Service Equipment Co. Ltd.; GENERAL ELECTRIC; Ingersoll Rand Plc; Kaeser Compressors; MAT Industries, LLC; and Sullair LLC
- Manufacturers are offering air compression technologies along with air and gas treatment equipment to provide niche solutions for various applications
- Oil-filled compressors are likely to lead the market over the forecast years due to their extensive adoption in commercial applications, such as in manufacturing, energy, and chemical industries