What's driving the Air Compressor Market Growth? Prominent Players: Gardner Denver, Quincy Compressor, Sullair, LLC, Boge Compressors, Elgi Equipments Limited
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Air Compressor Market will likely surpass USD 40 billion by 2024, according to a new research report.
Air compressors are based on rotary, reciprocating, and centrifugal technologies, where rotary products are available in form of screw, scroll and others such as lobe, vane, etc. In terms of volume, the rotary air compressor segment will show more than 3% CAGR from 2018 to 2024. The product is gaining popularity over reciprocating types owing to various properties including higher efficiency, lesser wear and tear, and easier maintenance.
Air compressor lubrication is carried out using air or oil, depending on the application area. Oil free portable compressors are employed in areas where oil contamination can't be tolerated. Healthcare, food & beverage, and electronics industries majorly rely on oil free compressors due to stringent contamination parameters. The segment will show the substantial growth with more than 3.5% CAGR in coming years. The presence of oil in the compressed air in these application areas may have severe repercussions such as health hazards, equipment damage, and other occupational hazards.
The key players in the air compressor market are:
1. Atlas Copco
2. Gardner Denver
3. Sullair, LLC
5. ELGI EQUIPMENTS LIMITED
6. VMAC Company
7. Hitachi Industrial Equipment Systems
8. Belaire Compressors
10. AireTex Compressors
11. Ciasons Industrial
12. Zen Air
14. Quincy Compressor
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Manufacturing sector will be the most important application sector for portable air compressor market as they can be easily carried to different plant locations to supply compressed air. Compressed air is used for various activities in this sector, including supplying plant air for paint spraying, coating, and sand blasting, process and instrument air for operating pneumatic machines and equipment, as well as providing breathing air to operators, etc.
Air Compressor Market by Technology:
High degree of industrialization and construction activities in Asia Pacific countries will boost the regional air compressor demand over the forecast period. The region is also dominated by a large number of small and medium scale compressor manufacturers, especially in China. Availability of the machines at significantly lower rental/usage costs along with a high demand for compressed air across various end-user industries will positively influence the market.
Rapid industrial development in the Asia Pacific region will be the key growth enabler for the air compressor market. This growth can be attributed to the increasing usage of compressed air in various end-use industries. Countries including China, India, Japan, Indonesia, South Korea, etc., have witnessed a high industrial growth in the last two decades.
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