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Air Compressor Market Size (2024 - 2029)

The air compressor market is poised for growth over the forecast period, driven by increasing demand from the natural gas, refinery, and petrochemical sectors. Despite the challenge posed by higher capital costs compared to traditional engines, advancements in technology are leading to the development of more cost-effective products, such as oil-free systems, which reduce maintenance expenses. The Asia-Pacific region is expected to experience significant expansion due to the growth of the oil and gas industry and a strong industrial base in semiconductor and electronics manufacturing.

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Market Size of Air Compressor Industry

Air Compressor Market Summary
Study Period 2020 - 2029
Market Size (2024) USD 37.80 Billion
Market Size (2029) USD 47.54 Billion
CAGR (2024 - 2029) 4.69 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Air Compressor Market Major Players

*Disclaimer: Major Players sorted in no particular order

Air Compressor Market Analysis

The Air Compressor Market size is estimated at USD 37.80 billion in 2024, and is expected to reach USD 47.54 billion by 2029, growing at a CAGR of 4.69% during the forecast period (2024-2029).

  • Over the medium term, soaring demand from natural gas sector and increasing demand from the refinery and petrochemical sector, are likely to support the air compressor market growth during the forecast period
  • On the other hand, higher capital cost compared to traditional internal combustion engines is likely to hinder the market growth during the study period.
  • Nevertheless, the technical advancement in the air compressor industry is leading to the development of products that requires less operational and maintenance investment. such as, oil-free systems are expected to get the opportunity in the industries which would reduce expenses related to maintenance during certain intervals.
  • Asia-Pacific is estimated to witness a significant growth in the air compressor market due to the ongoing growth of the oil and gas industry in India, China, and Japan. A broad industrial base for semiconductor and electronics manufacturing in China and Taiwan is projected to drive the market further.

Air Compressor Industry Segmentation

An air compressor is a mechanical, pneumatic device that converts energy into potential energy stored in pressurized air using an electric motor, diesel or gasoline engine, etc. An air compressor device pushes more and more air into a storage tank, thus increasing the pressure. The air compressor shuts off when the pressure inside the storage tank reaches its defined upper limit.

The air compressor market is segmented into type, end user, and geography. By type, the market is segmented into positive displacement and dynamic displacement. By end user, the market is segmented into oil and gas, power sector, manufacturing industry, chemicals and petrochemicals, and other end users. The report also covers the market size and forecasts for the air compressor market across major regions. The market sizing and forecasts for each segment are based on revenue (in USD).

Type
Positive Displacement
Reciprocating
Rotary
Dynamic
Axial
Centrifugal
End User
Oil and Gas
Power Sector
Manufacturing Industry
Chemicals and Petrochemicals
Other End Users
Geography (Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)})
North America
United States
Canada
Rest of North America
Europe
Germany
France
United Kingdom
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Middle East and Africa
Saudi Arabia
United Arab Emirates
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Air Compressor Market Size Summary

The air compressor market is poised for substantial growth over the forecast period, driven by increasing demand from the natural gas, refinery, and petrochemical sectors. Despite the challenge of higher capital costs compared to traditional internal combustion engines, advancements in technology are fostering the development of air compressors that require less operational and maintenance investment. This includes the rise of oil-free systems, which are expected to reduce maintenance-related expenses. The Asia-Pacific region is anticipated to experience significant growth, fueled by the expanding oil and gas industry in countries like India, China, and Japan, as well as a robust industrial base for semiconductor and electronics manufacturing in China and Taiwan.

The market is characterized by a diverse range of applications, with positive displacement air compressors holding a significant share due to their utility in various industries. These compressors are particularly valued in the food and beverage sector and are essential in the automobile industry for rapid and precise assembly of parts. The growing demand for air conditioners, driven by improved living standards globally, further supports market expansion. The fragmented nature of the market sees key players like Atlas Copco Group, Ingersoll Rand Inc., and Siemens AG actively innovating and expanding their product offerings. Recent developments, such as ZF's high-speed electric air compressor for fuel cells and Sullair's next-generation compressor, highlight the industry's focus on sustainability and advanced technology.

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Air Compressor Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD, till 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

        1. 1.5.1.1 Soaring Demand From Natural Gas Sector

        2. 1.5.1.2 Increasing Demand From The Refinery And Petrochemical Sector

      2. 1.5.2 Restraints

        1. 1.5.2.1 Higher Capital Cost Compared To Traditional Internal Combustion Engines

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Positive Displacement

        1. 2.1.1.1 Reciprocating

        2. 2.1.1.2 Rotary

      2. 2.1.2 Dynamic

        1. 2.1.2.1 Axial

        2. 2.1.2.2 Centrifugal

    2. 2.2 End User

      1. 2.2.1 Oil and Gas

      2. 2.2.2 Power Sector

      3. 2.2.3 Manufacturing Industry

      4. 2.2.4 Chemicals and Petrochemicals

      5. 2.2.5 Other End Users

    3. 2.3 Geography (Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)})

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Rest of North America

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 France

        3. 2.3.2.3 United Kingdom

        4. 2.3.2.4 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 India

        3. 2.3.3.3 Japan

        4. 2.3.3.4 South Korea

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 Middle East and Africa

        1. 2.3.4.1 Saudi Arabia

        2. 2.3.4.2 United Arab Emirates

        3. 2.3.4.3 South Africa

        4. 2.3.4.4 Rest of Middle East and Africa

      5. 2.3.5 South America

        1. 2.3.5.1 Brazil

        2. 2.3.5.2 Argentina

        3. 2.3.5.3 Rest of South America

Air Compressor Market Size FAQs

The Air Compressor Market size is expected to reach USD 37.80 billion in 2024 and grow at a CAGR of 4.69% to reach USD 47.54 billion by 2029.

In 2024, the Air Compressor Market size is expected to reach USD 37.80 billion.

Air Compressor Market Report Snapshots

Air Compressor Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)