The global air compressor market is projected to reach USD 40.43 billion by 2025, growing at 3.8% CAGR, according to Million Insights. Air compressors have a wide range of applications in several industries like semiconductor & electronics, manufacturing, food & beverage, energy, healthcare, and food & beverage. Growing awareness to reduce CO2 emissions and strict environmental regulations are projected to drive the market growth over the forecast period. Increasing demand for compressed air installation services monitoring is expected to contribute a positive market growth. Moreover, low maintenance costs, easy handling, reliability, and eco-friendly features are boosting the demand for the product.
Factors such as increasing awareness about product quality among consumers, rising need to improve air quality, coupled with favourable government policies for energy conservation are projected to boost the market growth. Moreover, increasing applications of air compressors in food & coverage sector owing to strict mandates for food safety will positively impact the market growth in the next few years.
Rapid industrialization in emerging economies like South Asian countries, India, and China is a key factor for market growth in Asia Pacific. The growing need for advanced and efficient compressors across several manufacturing industries is expected to augment regional market growth. Additionally, growing after-sales services need is anticipated to open new avenues for market players in this industry.
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Further key findings from the report suggest:
• The stationary type segment is projected to dominate the air compressor market wherein portable segment is expected to emerge as the fastest growing segment during the forecast period.
• The rotary/screw product segment is projected to hold the largest market share of more than 46% by 2025. This compressor offer constant air flow with different discharge pressures and operate through positive displacement. Easy maintenance and longer product life cycles will boost their demand in the next few years.
• Market players are introducing new technologies along with gas and air treatment equipment to offer niche solutions for several applications.
• Frank Compressors; Gast Manufacturing, Inc.; AireTex Compressor; Atlas Copco; Bauer Group; Cook Compression; Sullair LLC; BelAire Compressors; Compressor Products International (CPI); Galaxy Auto Service Equipment Co. Ltd.; GENERAL ELECTRIC; Ingersoll Rand Plc; Kaeser Compressors; and MAT Industries, LLC. Are key manufactures operating in this industry.
Million Insights has segmented the global air compressor market on the basis of type, product, lubrication, application, and region:
Air Compressor Type Outlook (Revenue, USD Million, 2015 - 2025)
Air Compressor Product Outlook (Revenue, USD Million, 2015 - 2025)
Air Compressor Lubrication Outlook (Revenue, USD Million, 2015 - 2025)
Air Compressor Application Outlook (Revenue, USD Million, 2015 - 2025)
• Semiconductors & Electronics
• Food & Beverage
• Home Appliances
• Oil & Gas
Air Compressor Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa