Air Compressor Industry 2023-2030: Unveiling the Future of Compressed Air
Air Compressor Industry | Forecast 2030
Air Compressor Industry Data Book - Reciprocating Air Compressor, Rotary/Screw Air Compressor and Centrifugal Air Compressors Market
The economic value generated by the air compressor industry was estimated at approximately USD 24.35 billion in 2022. With the burgeoning need to control the spread of the COVID-19 infection, governments worldwide implemented strict national lockdowns in 2020.
Access the Global Air Compressor Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Air Compressor Industry Data Book Coverage Snapshot
Markets Covered
- Air Compressor Industry USD 24.35 billion in 2022
- Reciprocating Air Compressor Market Size USD 5.25 billion in 2022 4.1% CAGR (2023-2030)
- Rotary/Screw Air Compressor Market Size USD 11.44 billion in 2022 4.4% CAGR (2023-2030)
- Centrifugal Air Compressors Market Size USD 7.66 billion in 2022 5.3% CAGR (2023-2030)
Reciprocating Air Compressor Market Growth & Trends
The global reciprocating air compressor market size is anticipated to reach USD 7.23 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to grow at a CAGR of 4.1% from 2023 to 2030. The increasing awareness of air quality and related negative consequences on the environment is anticipated to drive the market demand. Furthermore, the stringent government regulations pertaining to environmental air protection and carbon dioxide emissions compelled reciprocating air compressor manufacturers to develop energy-efficient products. In addition, the reciprocating air compressors used in workplaces are required to comply with the Occupational Health & Safety regulations.
An interconnected market has been created due to the industrialization-driven economy and developments in reciprocating air compressor technology. Modern machinery used in production requires compressed air-generated power to operate. In addition, the expansion of industries in Latin America, Africa, and Asia presents a sizable opportunity for reciprocating air compressor producers to grow further. Furthermore, these regions are preferring cutting-edge, technologically advanced compressed air compressors. These aforementioned factors are anticipated to propel the market demand over the forecast period.
Order your copy of the Free Sample of “Air Compressor Industry Data Book - Reciprocating Air Compressor, Rotary/Screw Air Compressor and Centrifugal Air Compressors Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030, published by Grand View Research
Centrifugal Air Compressor Market Growth & Trends
The global centrifugal air compressor market size is anticipated to reach USD 11.57 billion by 2030, registering a CAGR of 5.3% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth is driven by several key factors, including the energy efficiency, reduced number of frictional components, and superior airflow capacity of these compressors. Moreover, their extensive utilization across various industries, including gas turbines, oil refineries, petrochemical manufacturing, food and beverage production, and manufacturing plants, is expected to propel the market growth throughout the forecast period.
The market is gaining traction, primarily attributed to the rising adoption of new oil and gas projects and the growing demand within the food and beverage industry. In addition, advancements in technology and the expanding industrial sectors in emerging economies such as Brazil, China, India, Japan, and other nations are poised to offer significant growth prospects for the market in the foreseeable future.
The demand for centrifugal air compressors is expected to increase in the upcoming years, driven by a focus on energy recovery, energy efficiency, and decreasing CO2 emissions. Initiatives such as the Inflation Reduction Act of 2022, promoted by the International Energy Agency (IEA), emphasize significant investments in energy efficiency to reduce energy waste and lower CO2 emissions. In addition, the growing need for value-added services is anticipated to drive the expansion of the global market during the forecast period.
Go through the table of content of Air Compressor Industry Data Book to get a better understanding of the Coverage & Scope of the study
Rotary/Screw Air Compressor Market Growth and Trends
Rotary/screw air compressor ensures a continuous sweeping motion in contrast to the reciprocating air compressor, which has excessive pulsing and surging of the airflow. The heat produced during air compression by rotary/screw air compressors is reduced, which aids in lowering the amount of water produced during operation. As a result, less water will enter the compressor or other final applications. These aforementioned factors are expected to augment the demand over the forecast period.
Oil-filled rotary/screw air compressors offer advantages such as higher efficiency, longer lifespan, and quieter operation compared to oil-free compressors. However, they require regular maintenance to monitor oil levels, change oil filters, and replace lubricating oil. Whereas oil-free rotary/screw air compressors operate without the use of lubricating oil in the compression chamber. Instead of relying on oil for lubrication and sealing, these compressors use other methods to achieve efficient compression.
Competitive Insights
Major players in the air compressor market include Atlas Copco, Baker Hughes Company, Howden Group, Hitachi Global Air Power US, LLC, Danfoss, HPC Compressed Air Systems, United Air Power Ltd., Kaeser Compressors, ELGi, Kaishan USA, Ingersoll-Rand Plc, Frank Compressors, and Sollant Group. The air compressor manufacturers adopt several strategies, including mergers & acquisitions, partnerships & joint ventures, new product developments, distributor agreements, new online channels, and geographical expansions, to augment their market presence and cater to the ever-changing consumer requirements.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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