Air Compressor Market Size, Share, Opportunities, And Trends By Type (Positive Displacement, Dynamic), By End-User (Automotive, Construction, Medical & Healthcare, Agriculture, Others), And By Geography - Forecasts From 2023 To 2028
- Published : Oct 2023
- Report Code : KSI061614432
- Pages : 138
The air compressor market is anticipated to expand at a CAGR of 4.48% to reach a market size of US$47.412 billion in 2028 from an initial value of US$34.882 billion in 2021.
Air compressors are machines designed to store compressed air by reducing its volume and increasing its pressure inside a tank or cylinder. These machines are commonly used across various industries and applications to generate pressurized air for powering pneumatic tools, machinery, and equipment. The air compressor market is quite extensive and diverse, catering to a wide range of customers with different needs and requirements. As industrialization continues to expand globally, there is a rising demand for compressed air in manufacturing processes.
Increasing Infrastructure Investments
increased infrastructure investments, technological advancements, growing awareness about energy efficiency, etc. are some of the factors that will lead to the growth of the global air compressor market. For instance, in August 2022, the Chinese government announced that they will make around US$ 1 trillion of government funds available for construction projects. Similarly, in September 2021, the UK government announced that around £31 billion is expected to be spent on social and economic infrastructure in the coming years.
Expanding Construction Industry
The construction sector heavily relies on compressed air for a wide range of applications, making air compressors essential tools in their operations. The construction industry is involved in building and developing infrastructure, such as roads, bridges, buildings, airports, and more. These projects require compressed air for various tasks like pneumatic drilling, cutting, nailing, and painting, among others. With so many advantages, the growing construction industry acts as a growth driver for the air compressor market. According to the National Statistics Office, the total construction output in the UK increased by 3.7% in December 2022. Similarly, according to the U.S. Census Bureau, the total construction spending in the country in 2022 was estimated to be nearly US$ 1,809.8 billion. This was a 7.7% increase from 2021.
Increasing Manufacturing Activities
It is widely used source of power in manufacturing, powering a variety of equipment and machinery in industrial plants. It offers flexibility and reliability, making it ideal for manufacturing processes that demand high speed, precise control, and productivity. According to data from the World Bank, the worldwide manufacturing value added has risen from US$ 12.33 trillion to US$ 16.05 trillion between 2015 and 2021, and the proportion of this value added to the GDP has increased from 16% to 17% during the same period. Thus, as global construction and manufacturing activities continue to increase, the growth of the air compressor market will also increase.
Asia Pacific is Expected to Grow Significantly
The growing industrial growth in the region coupled with product innovations and launches of air compressors are majorly driving the overall market growth in the region. India’s growing investments in the automotive sector to propel overall productivity coupled with booming demand for fuel-efficient vehicles have provided a positive scope to the market outlook of air compressors in the country. According to the International Organization of Motor Vehicle Manufacturers, India’s automotive production in 2022 stood at 5.45 million units which represented a 24% increase over 2021’s production figure of 4.39 million units.
Key Market Developments
- in May 2022, ELGi launched a diesel-powered “PG 575-255” and an electric-powered “PG 110E-13.5” air compressor at EXXCON 2022 (Bengaluru, India).
Air Compressor Market Scope:
Report Metric | Details |
Market Size Value in 2021 | US$34.882 billion |
Market Size Value in 2028 | US$47.412 billion |
Growth Rate | CAGR of 4.48% from 2021 to 2028 |
Base Year | 2021 |
Forecast Period | 2023 – 2028 |
Forecast Unit (Value) | USD Billion |
Segments Covered | Type, End-User, and Geography |
Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
Companies Covered | Atlas Copco AB, Ingersoll Rand, Siemens AG, Hitachi Group, Kaishan USA, Sulzer Ltd., Dewalt, Kobelco Compressor Corporation, Doosan Portable Power, Elgi Equipments |
Customization Scope | Free report customization with purchase |
Segmentation:
- By Type
- Positive Displacement
- Dynamic
- End-User
-
- Automotive
- Construction
- Medical & Healthcare
- Agriculture
- Others
- By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- UK
- France
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Others
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Others
- North America
Frequently Asked Questions (FAQs)
1. INTRODUCTION
1.1. Market Overview
1.1. Market Definition
1.2. Scope of the Study
1.3. Market Segmentation
1.4. Currency
1.5. Assumption
1.6. Base, and Forecast Year Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. AIR COMPRESSOR MARKET, BY TYPE
5.1. Introduction
5.2. Positive Displacement
5.3. Dynamic
6. AIR COMPRESSOR MARKET, BY END-USER
6.1. Introduction
6.2. Automotive
6.3. Construction
6.4. Medical & Healthcare
6.5. Agriculture
6.6. Others
7. AIR COMPRESSOR MARKET, BY GEOGRAPHY
7.1. Introduction
7.2. North America
7.2.1 By Type
7.2.2 By End-User
7.2.3 By Country
7.2.3.1 USA
7.2.3.2 Canada
7.2.3.3 Mexico
7.3. South America
7.3.1 By Type
7.3.2 By End-User
7.3.3 By Country
7.3.3.1 Brazil
7.3.3.2 Argentina
7.3.3.3 Others
7.4. Europe
7.4.1. By Type
7.4.2. By End-user
7.4.3. By Country
7.4.3.1. Germany
7.4.3.2. UK
7.4.3.3. France
7.4.3.4. Spain
7.4.3.5. Others
7.5. Middle East and Africa
7.5.1 By Type
7.5.2 By End-User
7.5.3 By Country
7.5.3.1 Saudi Arabia
7.5.3.2 UAE
7.5.3.3 Others
7.6. Asia Pacific
7.6.1. By Type
7.6.2. By End-user
7.6.3. By Country
7.6.3.1. China
7.6.3.2. Japan
7.6.3.3. South Korea
7.6.3.4. India
7.6.3.5. Australia
7.6.3.6. Others
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Market Share Analysis
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. Atlas Copco AB
9.2. Ingersoll Rand
9.3. Siemens AG
9.4. Hitachi Group
9.5. Kaishan USA
9.6. Sulzer Ltd.
9.7. Dewalt
9.8. Kobelco Compressor Corporation
9.9. Doosan Portable Power
9.10. Elgi Equipments
Atlas Copco AB
Siemens AG
Hitachi Group
Kaishan USA
Sulzer Ltd.
Dewalt
Kobelco Compressor Corporation
Doosan Portable Power
Elgi Equipments
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