Overview and Scope
The industrial air compressor is a device that utilizes an electric, diesel, or gas-powered engine to convert power to potential energy stored in pressurized air. It uses one or more reciprocating pistons to draw in air and compress it. The compressed air is then directed towards various tools such as jackhammers, paint sprayers, impact wrenches, and others.
Sizing and Forecast
The industrial air compressor market size has grown strongly in recent years. It will grow from <b>$21.4 billion in 2023 to $22.61 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. </b> The growth in the historic period can be attributed to growth in manufacturing and industrial activities across various sectors, demand for compressed air in automation and pneumatic systems, need for reliable and continuous air supply in industrial processes, focus on energy efficiency and operating cost reduction in industries, adoption of portable and compact air compressor solutions.
The industrial air compressor market size is expected to see strong growth in the next few years. It will grow to <b>$28.23 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. </b> The growth in the forecast period can be attributed to transition towards electric and hybrid air compressors for sustainability, demand for oil-free and contaminant-free compressed air solutions, customization of compressor systems for specific industrial applications, research and development in next-generation air compressor technologies, expansion of compressed air usage in emerging industries and applications. Major trends in the forecast period include variable speed drive (vsd) and variable frequency drive (vfd) technology, oil-free air compressor systems, energy-efficient and high-efficiency particulate air (hepa) filters, integration of iot for remote monitoring and predictive maintenance, hybrid and dual-power air compressors.
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Segmentation & Regional Insights
The industrial air compressor market covered in this report is segmented –
1) By Type: Rotary Air Compressors, Reciprocating Air Compressors, Centrifugal Air Compressors
2) By Product: Positive Displacement, Dynamic Displacement
3) By Seal: Oil-Free Seal, Oil-Lubricated Seal
4) By Application: Food And Beverage, Oil And Gas, Energy And Mining, Semiconductor And Electronics, Manufacturing, Construction And Municipal, Pharmaceuticals, Agriculture/Farming
<b>Asia-Pacific</b> was the largest region in the industrial air compressor market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial air compressor market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
Increasing demand for energy-efficient air compressors is expected to propel the growth of the Industrial Air Compressor market. An industrial air compressor is a device that works in converting potential energy into compressed air form. This energy-efficient air compressor can create an advantage in the world of growing energy costs and increasing accessibility to energy-saving technologies in industrial sectors. For instance, according to the U.S. Department of Energy, on average 10 to 30% of all energy of the industrial facility is used by compressed air systems. Using energy-efficient air compressors in the industries can be improved 20% energy consumption in a better way. Thus, introducing energy-efficient air compressors in the industrial air compressor is a great step.
Key Industry Players
Major companies operating in the industrial air compressor market include <b> Atlas Copco, Danfoss A/S, HD Hyundai Infracore Co. Ltd., EBARA Corporation., Elgi Equipments Limited., Hitachi Ltd., Howden Group Ltd., Ingersoll-Rand PLC, Kaeser Kompressoren Inc., Kirloskar Pneumatics Co. Ltd, Kobe Steel Ltd., Baker Hughes Company., BOGE KOMPRESSOREN Otto Boge GmbH & Co. KG, MAT Industries LLC., Coaire Inc., Elliott Group Ltd., FS-Curtis, Fusheng Group, Gardner Denver Pvt Ltd., Air Squared Inc., Air Systems Products LLC., Airmaze Corporation Pte Ltd ., American Eagle Accessories Group, Bambi Air Compressors Ltd., Bauer Compressors Inc., Chicago Pneumatic Holdings Ltd., Curtis-Toledo Inc., EMAX Compressor, Jenny Products Inc. </b>
The industrial air compressor market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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