Compressors

Atlas Copco’s compressor

Atlas Copco’s compressor

Global air compressor market expected to reach $27bn

The manufacturers of air compressors are constantly engaged in R&D activities to deliver superior design in their products to address different requirements, environmental change, and international standards


The global air compressor market is expected to reach $26.85 billion in 2023, from $19.8 billion in 2016, growing at a CAGR of 4.47 per cent from 2017 to 2023.

An air compressor is a mechanical device utilised to harness the natural energy of air by converting it into a potential source of energy in the form of pressurised air. They are used in process industries, which include oil and gas, waste management, chemicals, power generation, automotive, mining, pharmaceuticals, food and beverages, and others. These devices play a significant role in enhancing the efficiency, safety, and profitability of these process industries.

Furthermore, the manufacturers of air compressors are constantly engaged in R&D activities to deliver superior design in their products to address different requirements, environmental change, and international standards. Compressed air is used for varied applications such as dental services, metal fabrication, powering of pneumatic tools, bottling and packaging, spraying and painting, cooling and freezing of food products, and others. Based on these applications, air compressors are segregated into consumer grade, professional grade, and industrial grade.

Proliferation of energy-efficient and cost-effective products is expected to drive the market growth of air compressor market during the forecast period. In addition, high rate of adoption from end-user industries, rise in number of industrial infrastructure projects, and increase in investment across all the process industries, especially oil and gas industry, fuel the market. The demand for high energy and growth in population boost the growth of the market. Further, penetration of IoT, launch of initiatives such as Industry 4.0, and technological advancements related to new product development are expected to fuel growth of air compressor market during the forecast period.

Air contamination caused due to oil lubrication in oiled air compressors and noisy operations of oil-free compressors are major concerns that limit the adoption of air compressors. Growth of the construction industry presents as a major opportunity for market expansion. The global air compressor market is segmented based on type, technology, lubrication method, power rating, end-user industry, and region.

The type segment includes portable and stationary air compressors. By technology, it is classified as rotary, centrifugal, and reciprocating. Based on lubrication method, the market is bifurcated into oiled and oil-free air compressors. Oil-free air compressors, which supply non-contaminated air witness increased adoption in pharmaceuticals, food & beverages, and electronic assembling industries. Based on power rating, the market is segmented into 0–100 kW, 101–300 kW, 301–500 kW, and 501 kW & above.

The key players operating in the global market are Atlas Copco AB, Kobe Steel Ltd., Elgi Equipments Limited, Ingersoll-Rand PLC, Kirloskar Pneumatic Company Limited, Mitsubishi Heavy Industries Ltd., Suzler Ltd., Ebara Corporations, Porter Cable, and VMAC Global Technology Inc.




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