Air Compressor Industry Overview
The global air compressor market size was valued at USD 25.46 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2030.
Stringent environmental regulations and a growing emphasis on sustainability have led industries to adopt more environmentally friendly air compressors. Various industries in the Asia Pacific countries, such as manufacturing, oil & gas, food & beverage, energy & medical, and home appliances have been enjoying significant growth through rising investments from public and private entities. China and India remain the most promising countries for upcoming sales and demand of air compressors owing to the presence of manufacturing hubs.
Gather more insights about the market drivers, restrains and growth of the Air Compressor Market
Various factors such as environmental concerns, strict regulations, industrialization, and the need for high-quality air in an industrial application have been prompting the growth of the demand for air compressors in the U.S. Air compressors are widely used in industries such as food & beverage, pharmaceuticals, electronics, automotive, and healthcare.
In various industries, the quality of compressed air is crucial for maintaining product integrity and quality and ensuring operational efficiency. The food and beverage industry, pharmaceutical production, and semiconductors fabrication are examples of the industry where air quality standards are high and the use of air compressors is a must to comply with various regulations, which is also anticipated to drive the growth of the market over the forecast period.
Technological advancements in product performance such as Internet of Things based pump monitoring system (IoT), design, and enhanced features are also expected to have a positive impact on the growth of the market. For instance, in March 2023, Elgi North America announced the launch of a new GP35FP portable air compressor. The company showcased the new product in CONEXPO-CON/AGG 2023 at the Las Vegas Convention Center. The air compressors are becoming more connected through the Internet of Things (IoT). IoT sensors and data analytics are used to monitor compressor performance in real time. Furthermore, the rising crude oil prices amid the Ukraine crisis are making the raw materials costlier for the steel industry, which is impacting the cost of the compressor.
Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.
- The global Internet of Things (IoT) market size was valued at USD 1.18 billion in 2023 and is projected to grow at a CAGR of 11.4% from 2024 to 2030.
- The global internal combustion engine market demand size reached 181,836 thousand units in 2022 and is anticipated to expand at a compound annual growth rate (CAGR) of 9.2% from 2023 to 2030.
Air Compressor Market Segmentation
Grand View Research has segmented the global air compressor market based on type, product, lubrication, application, and region:
Air Compressor Type Outlook (Revenue, USD Billion; Volume, Units 2018 - 2030)
- Stationary
- Portable
Air Compressor Product Outlook (Revenue, USD Billion; Volume, Units 2018 - 2030)
- Reciprocating
- Rotary/Screw
- Centrifugal
Air Compressor Lubrication Outlook (Revenue, USD Billion; Volume, Units; 2018 - 2030)
- Oil Free
- Oil Filled
Air Compressor Application Outlook (Revenue, USD Billion; Volume, Units 2018 - 2030)
- Healthcare & Medical
- Manufacturing
- Oil & Gas
- Home Appliances
- Food & Beverage
- Energy
- Semiconductor & Electronics
- Others
Air Compressor Air Compressor Operating Mode Outlook (Revenue, USD Billion; Volume, Units; 2018 - 2030)
- Electric
- Internal Combustion Engine
Air Compressor Power Range Outlook (Revenue, USD Billion; Volume, Units; 2018 - 2030)
- Up to 20 kW
- 21-50kW
- 51-250 kW
- 251-500 kW
- Over 500kW
Air Compressor Regional Outlook (Revenue, USD Billion; Volume, Units 2018 - 2030)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Central & South America
- Brazil
- Argentina
- Middle East & Africa
- Saudi Arabia
- South Africa
Key Companies profiled:
- AireTex Compressor
- Atlas Copco
- Bauer Group
- BelAire Compressors
- Cook Compression
- Compressor Products International (CPI)
- Frank Compressors
- Galaxy Auto Stationary Equipment Co. Ltd.
- Gast Manufacturing, Inc.
- GENERAL ELECTRIC
- Ingersoll Rand Plc
- Kaeser Compressors
- MAT Industries, LLC
Key Air Compressor Company Insights
The market consists mainly of global players, of which a few operate regionally. New product launches, mergers and acquisitions, partnerships, and collaborations are vital strategies that companies adopt for sustained growth. Furthermore, key raw material suppliers and product manufacturers have integrated their operations to provide raw materials and manufacture the final product to cut down on raw materials procurement and operation costs.
Major market players frequently undertake geographical expansion strategies to enter established and newer markets. New product developments and approvals are also a part of the key initiatives key companies’ are undertaking to gain more substantial product penetration.
Recent Developments
- In August 2023, FS Elliot Co., LLC introduced the P400HPR Centrifugal Air Compressor. The P400HPR ensures energy efficiency and dependability while meeting any high-pressure application with improved features and exceptional performance. Some prominent players in the air compressor market include.
- In April 2023, Atlas Copco announced the acquisition of the compressed air business division of Asven S.R.L., a specialist in the service, installation, and sales of compressed air systems.
Order a free sample PDF of the Air Compressor Market Intelligence Study, published by Grand View Research.