Industrial Air Compressors Market - Growth, Trends, and Forecast (2020 - 2025)
The Industrial Air Compressors Market is segmented by Type (Rotary Air Compressors, Reciprocating Air Compressors, and Centrifugal Air Compressors), End-user Industry (Oil & Gas, Food & Beverages, Manufacturing, Healthcare, Power Generation, Construction & Mining), and Geography.
ABOUT THIS REPORT
Scope of the Report
Key Market Trends
TABLE OF CONTENTS
Fastest Growing Market:
Need a report that reflects how COVID-19 has impacted this market and its growth?
The industrial air compressors market was valued at USD 14.04 billion in 2019 and is expected to reach a value of USD 16.90 billion by 2025, at a CAGR of 3.33% during the forecast period (2020 - 2025). The growing demand for the energy-efficient compressors will drive the industrial air compressors market in the forecast period.
Air compressors are one of the prime machinery in any heavy industrial assembly line. The applications range from heavy air compressors used in industrial gases and the petrochemical sector to simple spray guns used in the automotive manufacturing sector.
Applications of industrial air compressors are also found in the oil and gas sector, food and beverages manufacturing, general manufacturing, construction, mining, and healthcare sectors. Compressed air is an accessible means of powering the manufacturing environment in several industries because it is considered cheaper and safer than many electric and hydraulic equipment.
The increase in the use of the compressed air system has led the industry to adopt an efficient system as highly compressed air generally uses powerful pumps in the background to achieve the level of compression. Additionally, the air compressor system also requires additional liquid cooling or air cooling system to dispense the generated heat which adds to cost.
The European Union and other countries have passed numerous laws aimed at reducing CO2 emissions and is expected to drive further efficiency related research activities in the market.
Scope of the Report
An industrial air compressor is a device which use an electric motor to convert power into potential energy in compressed air which is then forced to the storage tanks by these air compressors by increasing the pressure which shuts off when the tank pressure reaches the air limit. Then the compressed air is then used in various industries by utilizing the kinetic energy of the air when it is released.
Rotary Air Compressors
Reciprocating Air Compressors
Centrifugal Air Compressors
By End-user Industry
Oil and Gas
Food and Beverages
Construction and Mining
Other End-user Industries
Rest of Europe
Rest of Asia-Pacific
Middle East & Africa
Report scope can be customized per your requirements. Click here.
Key Market Trends
Increasing Demand from the Automotive Manufacturing Sector will Drive the Market
The automobile industry has witnessed substantial growth after its revival from the 2008 financial meltdown. The futuristic innovations, like electric cars and self-driving technology, fueled the growth of the automotive industry in recent years. Automotive manufacturing has been a significant market for industrial air compressors. Since the automobile production is increasing, there will be an increase in industrial air compressors as well.
Performance is an important component for an automobile along with the performance, the system cost is also an essential factor in product design. To achieve the optimum condition regarding performance and system cost, air compression has been a prime choice in many critical applications. Emerging applications, such as vehicle dynamics control, navigation, airbag deployments, tire pressure monitoring, etc. require more parts to be integrated into a car more than ever.
Almost all the automotive giants, like BMW, Mercedes, Fiat, and Audi have equipped several models of their vehicles with self-driving and self-parking features, which require assembling of more parts in the same time frame which motivated many manufacturers to prefer air compression technology in their automation strategies.
With advanced features, such as autonomous driving predicted to be the future of the market, the automotive industry is expected to become one of the most significant end-user segments for industrial air compressors market.
To understand key trends, Download Sample Report
Asia-Pacific to Account for a Significant Market Share
Asia-Pacific has been witnessing robust industrial growth in the last two decades. According to the World Bank's estimates, more than 40% of the GDP in the region is contributed by the industrial and manufacturing activity.
Rapid industrial growth in the Asia Pacific region is expected to boost the demand for industrial air compressors especially in the food and beverage, oil and gas, power generation, healthcare, automotive and the manufacturing sectors.
For instance, the planned growth of the petroleum refineries (Reliance Industries) and investment from Russian and Saudi oil companies over the forecast period is expected to generate demand in the oil and gas industry segment.
The energy and power industry is set to become huge in the region due to high investment in power plants from developing nations, such as China, India and is set to drive industrial growth, which is expected to boost the demand for industrial compressors.
To understand geography trends, Download Sample Report.
The players in the market such as Atlas Copco Group, Ingersoll Rand Inc., General Electric (GE), Siemens AG, Gardner Denver Inc., Dresser-Rand, and Zhejiang Kaishan Compressor Co., Ltd. (Kaishan Group), are engaged in maintaining a competitive edge in the market. This has intensified the competitive rivalry in the market and teherfore, the market concentration is low.
October 2018 - Atlas Copco introduced a new version of its ZT 90-160 air-cooled oil-free screw air compressor, including re-designed compressor elements that have been adapted to work even more efficiently than the previous elements. Available with fixed or variable speed drive and with or without an integrated dryer, the ZT 90-160 also features an advanced touchscreen monitoring system that enables end-users to evaluate, adjust, and optimize the pressure and performance of the compressor in real-time.