Air Compressor Industrial Applications, Market Trends and Future Prospects

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. This, in turn, hampered the growth of various sectors and industries. Likewise, the market for air compressors was also affected by the pandemic, witnessing a significant decline in sales and profits. Furthermore, the increasing cases of COVID-19 in various countries due to the second wave resulted in partial lockdowns across the globe. This has subsequently impacted the investments in the oil and gas industry along with the market’s growth.

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

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The growing adoption of variable-speed systems, low maintenance cost, effective operation, and retrofitting for existing systems are some factors propelling the demand for air compressors across key end-use industries. Energy-efficient compressors are witnessing a surge in demand owing to their cost-effective operations. However, the growing number of gas compressor stations has increased concerns about air quality. Hence, air monitoring systems are widely being installed for measuring the impact of air and gas compressors. Additionally, the subsequent introduction of non-oil and gas-based projects, and continuous investments in the industry, are driving the demand for air compressors.

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Reciprocating Air Compressor Market Report Highlights

·??????? In terms of technology, the single-acting technology segment is anticipated to witness a CAGR of 3.9% over the forecast period. These compressors are commonly used in small industrial settings, home workshops, and other environments where moderate air compression is needed. Further, due to the durability offered by reciprocating air compressors, this results in the machine having a significant product life

·??????? The double-acting technology segment led the market in 2022 with a market share of 59.4%. Double-acting compressors are better suited for applications that require a continuous supply of compressed air. They can handle higher duty cycles and provide a more consistent output of compressed air

·??????? In terms of lubrication, the oil-free lubrication segment is anticipated to witness the fastest CAGR of 5.1% over the forecast period. Oil-free reciprocating air compressors are essential in applications where the compressed air must be completely free of oil contamination

·??????? Based on type, the portable type segment is anticipated to witness the fastest CAGR of 4.5% over the forecast period. Portable reciprocating air compressors are widely used in construction & mining activities. They are also extensively used across various industrial applications, owing to their convenience in shipping the equipment

·??????? In terms of application, the manufacturing segment held a 39.1% revenue share in 2022. This can be attributed to the rapid industrialization in developing economies such as India, China, and Brazil, coupled with increasing demand for advanced and energy-efficient air compressors in the manufacturing sector

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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” Data Book, published by Grand View Research

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Rotary/Screw Air Compressor Market Report Highlights

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.

Centrifugal Air Compressors Market Report Highlights

The global centrifugal air compressors market is experiencing growth driven by several factors. Key industries such as oil & gas, metal & mining, and power are contributing significantly to this expansion. Additionally, there is an increasing demand for natural gas, a notable uptick in investments in petrochemical projects, and a growing emphasis on improving energy efficiency, all of which are further propelling market growth. Furthermore, the resurgence of previously stalled infrastructure projects, rising demand for environmentally friendly products, and ongoing technological innovations in the field of centrifugal air compressors are also acting as catalysts for the growth of the centrifugal air compressors industry.

China has made a firm commitment to enhance its oil and natural gas pipeline infrastructure over the next decade, with the goal of increasing the proportion of clean fuel in its energy portfolio. The National Development and Reform Commission has outlined ambitious plans for the expansion of the country’s natural gas pipeline network, aiming to reach a total length of 123,000 kilometers by 2025. Centrifugal compressors, being one of the primary pieces of equipment employed to facilitate the efficient transportation of natural gas across long distances, are anticipated to experience heightened demand as a result of this substantial growth in pipeline networks. This trend is expected to persist throughout the forecast period.

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.