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 : Feb 2023
  • Report Code : KSI061614432
  • Pages : 138

Air compressors are machines designed to store compressed air by reducing its volume and increasing its pressure inside a tank or cylinder. This compressed air is then stored until it is needed, at which point it can be released and used to power tools or machinery. Depending on the specific application and the amount of compressed air required, there are various types of air compressors such as reciprocating compressors, rotary screw compressors, and centrifugal compressors. 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 example, 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.

The growth of the air compressor market is directly influenced by a global increase in construction and manufacturing activities.

Air compressors are commonly used in construction. They are used to power a variety of pneumatic tools such as jackhammers, nail guns, impact wrenches, grinders, and paint sprayers. These tools are essential in construction work, and air compressors are required to provide the compressed air needed to power them.  For instance, 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. Also, compressed air is a 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.

The growth of the automotive industry is a key driving factor in the growth of the global air compressor market.

Air compressors are a vital tool for the automotive industry. They are used for a variety of tasks, such as inflating tires, operating pneumatic tools, and powering air suspension systems. One of the most common uses for air compressors in the automotive industry is to power pneumatic tools such as impact wrenches, ratchets, and grinders. Many tire shops and automotive repair shops use air compressors to inflate tires quickly and efficiently to the correct pressure. In addition, air compressors are used in air suspension systems in some vehicles. The growing demand for fuel-efficient automotive has increased their overall production scale. According to data from OICA, China produced around 26082220 vehicles in 2021 which was a 3% increase from 2020. Similarly, the USA showed an increase of 4% in the production of vehicles in 2021. Based on this data, it can be concluded that as the global number of vehicles increases, there will be a corresponding increase in the demand for air compressors, leading to growth in the global air compressor market.

Asia-Pacific region is expected to show the maximum growth potential for the growth of the air compressor market.

The Asia-Pacific region is witnessing a rising adoption of electric vehicles, which is expected to drive the demand for air compressors, particularly in the manufacturing of lithium-ion batteries. Air compressors are used in the manufacturing of battery cells, modules, and packs. For instance, according to data from the International Energy Agency, EV sales in India have increased from 3,100 sales in 2020 to 12,000 in 2021. EV sales in China have increased from 9,30,000 to 27,00,000 between 2020 and 2021. IEA data also indicates that the EV sales share in Japan increased from 0.6% in 2020 to 1.0% in 2021. Similarly, in Australia, the EV sales share number rose from 1.1% to 2.8% in the same time frame. Thus, this increase in the electrical vehicles market in the Asia Pacific region is an important factor in the growth of the air compressor markets of this region. In addition to this, air compressors are widely used in the manufacturing of wind turbines and solar panels, which is expected to drive the demand for air compressors in the region. For instance, IEA data shows us that 203.0 GWh and 2642.0 GWH of electricity were generated from solar PV and wind energy sources in 2021 in New Zealand. For the same year, in the Philippines, 1026.0 GWH of wind energy and 1373.0 GWh of solar energy were produced. According to IEA data, the total PV energy produced in the Asia Pacific region in 2021 was around 251.6 TWh and is predicted to rise to 588.2 TWh by 2027. Similarly, the total wind energy produced in this region in 2021 was 135.9 TWh and is said to increase to nearly around 315.5 TWh in 2027. Thus, all of these factors combine to boost the growth of the air compressor market in the Asia Pacific region in the coming future.

Market Key Developments

  • In February 2023, Atlas Copco announced the inauguration of a production line in Belgium that is specially dedicated to the production of electric portable air compressors.
  • In August 2022, Hitachi and Sullair partnered together to launch their new product at the Tairos/Automation Taipei Trade Show – the new oil-free air compressor with increased efficiency. This new design reduces the vibration and pulsing motions which in turn help in reducing the noise made by the compressor.
  • In August 2019, for the Indian market, Atlas Copco introduced five brand-new models of air compressors. For the changing needs of customers from various industries across India, this new line includes piston air compressors, screw air compressors, and on-site nitrogen generator series.

Segmentation

  • By Type
    • Positive Displacement
    • Dynamic
  • By 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
      • Suadi Arabia
      • UAE
      • Others
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Australia
      • Others

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years 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. Market Opportunities

4.4. Porter’s Five Force Analysis

4.4.1. Bargaining Power of Suppliers

4.4.2. Bargaining Power of Buyers

4.4.3. Threat of New Entrants

4.4.4. Threat of Substitutes

4.4.5. Competitive Rivalry in the Industry

4.5. Industry Value Chain Analysis

5. AIR COMPRESSOR MARKET ANALYSIS, BY TYPE

5.1. Introduction

5.2. Positive Displacement

5.3. Dynamic 

6. AIR COMPRESSOR MARKET ANALYSIS, 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 ANALYSIS, BY GEOGRAPHY

7.1. Introduction

7.2. North America

7.2.1. USA

7.2.2. Canada

7.2.3. Mexico

7.3. South Amercia

7.3.1.  Brazil

7.3.2. Argentina

7.3.3. Others

7.4. Europe

7.4.1. Germany

7.4.2. UK

7.4.3. France

7.4.4. Spain

7.4.5. Others

7.5. Middle East and Africa

7.5.1. Suadi Arabia

7.5.2. UAE

7.5.3. Others

7.6. Asia Pacifc

7.6.1. China

7.6.2. Japan

7.6.3. South Korea

7.6.4. India

7.6.5. Australia

7.6.6. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Emerging Players and Market Lucrativeness

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. US Air Compressor

9.8. Dewalt

9.9. Kobelco Compressor Corporation

9.10. Doosan Portable Power


Atlas Copco AB

Ingersoll Rand

Siemens AG

Hitachi Group

Kaishan USA

Sulzer Ltd.

US Air Compressor

Dewalt

Kobelco Compressor Corporation

Doosan Portable Power