The global air compressor market size is anticipated to reach USD 34.10 billion by 2030, registering a CAGR of 4.7% from 2023 to 2030. 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.
Air Compressor Market Report Highlights
- The stationary air compressor segment accounted for over 60.5% market share in 2023, while the portable segment is anticipated to emerge as the fastest-growing segment from 2024 to 2030
- 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 segment will dominate the market share over the forecast period. 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 2023. The growing oil and gas sector in countries such as China and India is, in turn, expected to lead the growth of the market
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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.
List of Key Players of Air Compressor Market
- AireTex Compressor
- Atlas Copco
- Bauer Group
- BelAire Compressors
- Cook Compression
- Compressor Products International (CPI)
- Frank Compressors
- Galaxy Auto Stationary Equipment Co. Ltd.
- Gast Manufacturing, Inc.
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We have segmented the global air compressor market based on type, product, lubrication, application, and region.
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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