Air Compressor Market Size, Growth Strategies 2022-28

The global air compressor market size is valued at USD 28,643.2 million in 2021 and is expected to grow at a significant CAGR of 4.5% during the forecast period 2022 to 2028. With the help of an electric motor or diesel engine, an air compressor is a mechanical device that converts energy from one form to another, which is then stored in pressured air. Powered machine tools, ventilation systems, HVAC control systems, and other industrial and non-industrial uses for powered air employ pressurized air. The kinetic energy stored in the compressed air is used by air compressors to deliver the required energy to various machinery, tools, and equipment in a variety of industry verticals. Additionally, continuous compression supports the transportation of gases and liquids, the production of goods related to petrochemistry, and cooling applications. Additionally, it has a wide variety of uses, including cleaning, vacuum packaging, spray painting, and other things. Additionally, a wide range of end customers use air compressors for dehydration, air blowing, powering tools, cleaning, as well as medical equipment.

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Air Compressor Market Growth Factors:
One of the main factors propelling the expansion of the global air compressor market is the expanding oil and gas sector. The market is expanding as a result of the increased energy demand in developing nations like China, India, and South Korea. Global demand for air compressors is anticipated to be positively and significantly impacted by rapid industrialization and rising investments to upgrade oil and gas pipeline networks. Numerous sectors, including freezing, chilling, cutting, welding, and packaging, use air compressors. The industry expansion in both developed and developing nations is accelerating the market for air compressors.

Air Compressor Market Segmentation:
Air Compressor Market: By Type (Portable, Stationary), By Technology (Reciprocating, Rotary, Centrifugal) By Lubrication Method (Oiled, Oil-free), By Application (Food & Beverage, Oil & Gas, Manufacturing, Medical, Power Generation, Others)

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Air Compressor Market Regional Analysis:
Asia Pacific accounted for over 30% of the market share in 2020, owing to continuous government investments in infrastructure development and rapid industrialization. The market growth is driven by the demand for air compressors from various applications, such as food and beverage, manufacturing, home appliances, and oil and gas industries. Furthermore, the presence of several manufacturers of compressors in India and China, along with the large industrial base for electronics and semiconductor manufacturing in China and Taiwan, is expected to drive market growth. Over the predicted period, it is expected that North America and Europe would experience steady growth. However, it is anticipated that rising investments in Eastern Europe will boost the growth prospects for industrial air compressors. Additionally, it is anticipated that customer attention on simple-to-use and energy-efficient goods will accelerate market expansion.

Key players' profiles in the air compressor market report are Frank Compressors, Galaxy Auto Stationary Equipment, Gast Manufacturing, Inc., GENERAL ELECTRIC, Ingersoll Rand Plc, Kaeser Compressors, MAT Industries, LLC

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