Air Compressors Market Size, Share, Growth | Trends, 2023

The global air compressors market size was valued at USD 34,324.8 million in 2022 and is poised to grow at a significant CAGR of 4.2% during the forecast period 2023-29. The primary drivers of the expansion of the global air compressors market include the increase in use of high-end compressor in order to produce high energy and high output to the customer, increase in demand from automobile industry and surge in investments by the key market players.

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The global air compressors market segmentation:
1) By Product Type: Stationary, Portable
2) By Application: Food & Beverage, Oil & Gas Industries, Manufacturing Industries, Power Generation, Medical, Chemicals, and Petrochemicals and Others
3) By Technology: Rotary, Centrifugal, Reciprocating
4) By Type of Lubrication: Oiled, oil Free

Based on the product type, the global Air Compressors market is segmented into Stationary and Portable air compressor. The portable air compressor segment is expected to account for a larger revenue share in the global air compressor market. The increasing construction and mining projects are the key drivers for the growth of air compressor market in this segment. The portable air compressors are easy to carry and has very low maintenance cost compared to other segment products which has increased the sales and market size of portable air compressor market across the globe. Based on the applications, The oil & gas segment is expected to dominate the market in the forecasted period. The increase in oil and gas industries across the globe is expected to drive the market over the forecasted period.

Asia Pacific Air Compressors Market
The Asia Pacific air compressors market is expected to increase over the forecast period due to the rapid increase in Oil & Gas industries in countries like China, Japan, India. The increase in share of indigenous market within the region is also expected to growth the market significantly in this region. The increase in electronics and semiconductor industries like China and Taiwan are expected to boost the market growth in the region. The North America market is expected to have significant growth in the forecast years due to increased investments in the industries in this region and due to the rising number of replacements of old compressors to new modern compressors in the industries across this region.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players.

The global Air Compressors market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance,

In June 2021, Bosch signed an agreement with Volvo Group AB & Daimler Truck Ag to supply electric air compressor for the development of hydrogen fuel cell systems.

In August 2019, Atlas Copco launched GA 75-110 VSD+, G 15-22, GA 15-22, and other two innovative air compressors.

Detailed Segmentation
The Air Compressors market is segmented based on product type, application, technology, lubrication, and geography.

Based on the product type, the market is segmented into the following:
• Stationary air compressor
• Portable air compressor

Based on the application, the market is segmented into the following:
• Food & Beverage
• Oil & Gas industries
• Manufacturing industries
• Power Generation
• Medical
• Chemicals and Petrochemicals
• Others

Based on the technology, the market is segmented into the following:
• Rotary
• Centrifugal
• Reciprocating

Based on the Lubrication, the market is segmented into the following:
• Oiled lubrication
• Oil free lubrication

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

Key players profiles in the Air Compressors market report are Aerzener Maschinenfabrik Gmbh, Atlas Copco AB, Ciasons Industrial Inc., Desran Compressor Co., Ltd., Doosan Corporation, Atlas Copco, Elgi Equipments Limited, Gardner Denver Holdings, Inc., Hitachi, Ltd., Indo-Air Compressors Pvt. Ltd., Bosch, Kirloskar Pneumatic Company Limited, Kobe Steel, Ltd., Mitsubishi Heavy Industries Ltd., Stanley Black & Decker Corporation, Suzler Ltd, VMAC Global Technology Inc.

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