The global Air Compressor Market size is anticipated to reach USD 40.98 billion by 2028, registering a CAGR of 3.4% from 2021 to 2028, according to a new study conducted by Grand View Research, Inc. AireTex Compressor; Atlas Copco; Bauer Group; BelAire Compressors; Cook Compression are some of the key players in this industry. Air compressors are used in various industries, such as food and beverages, home appliances, oil and gas, semiconductors and electronics, healthcare, manufacturing, and energy. The rising need for the reduction of CO2 emissions and stringent regulations pertaining to environmental conservation is anticipated to boost market growth. Moreover, eco-friendly, reliable features, ease of handling, and low maintenance costs offered by the product are propelling its demand.
The onset of the COVID-19 pandemic resulted in lockdowns
and declining investments across industries and verticals, which hampered the
growth of the market. However, after a short slowdown, the market is expected
to rebound and witness a healthy growth rate in the post-pandemic era.
The growing consumer awareness regarding product quality,
the need for improved air quality, and supportive government policies on energy
conservation are anticipated to boost the market growth. At workplaces, air
compressors are required to comply with the Occupational Health & Safety
(OHS) regulations, which would positively impact the market over the forecast
period.
Oil-free air compressors are expected to emerge as the
fastest-growing lubrication segment. The growth is attributed to the increased
proliferation in the manufacturing sector. Moreover, oil-free compressors
reduce the operating costs by evading compressor oil separator elements and
down-streaming filter replacement costs.
Asia Pacific dominated the market for air compressor in
2020 owing to rapid industrialization in emerging economies, such as India and
China. The need for efficient and next-generation compressors has propelled the
product demand across different industries in the region.
Related Press
Release@ Air
Compressor Market Report
Air Compressor Market Report Highlights
- The
stationary type segment dominated the market in 2020, while the portable
segment is anticipated to emerge as the fastest-growing segment from 2021
to 2028
- The
oil-filled compressor segment is likely to lead the market over the
forecast period. These compressors are widely adopted for commercial
applications by the chemical, energy, and manufacturing industries
- The
rotary/screw air compressor segment is expected to account for a 46.4%
market share by 2028. These compressors offer continuous airflow at
different discharge pressure and operate through positive displacements.
Furthermore, features such as easy maintenance and longer product life are
expected to fuel the demand for these compressors over the forecast period
- Asia
Pacific held the largest market share in 2020. The growing oil and gas
sector in countries such as China and India is, in turn, expected to lead
the growth of the market
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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