Press release
Industrial Air Compressor Global Market Size is Expected to Reach $28.23 Billion By 2028 with CAGR of 5.7% | Key Players: Atlas Copco, Danfoss A/S, EBARA Corporation., Elgi Equipments Limited., Hitachi Ltd.
Industrial Air Compressor Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Industrial Air Compressor industry. This report on Industrial Air Compressor market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The industrial air compressor market size has grown strongly in recent years. It will grow from $21.4 billion in 2023 to $22.61 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to growth in manufacturing and industrial activities across various sectors, demand for compressed air in automation and pneumatic systems, need for reliable and continuous air supply in industrial processes, focus on energy efficiency and operating cost reduction in industries, adoption of portable and compact air compressor solutions. The industrial air compressor market size is expected to see strong growth in the next few years. It will grow to $28.23 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
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Key Market Players:
Atlas Copco, Danfoss A/S, HD Hyundai Infracore Co. Ltd., EBARA Corporation., Elgi Equipments Limited., The Progressive Corporation are prominent players in the Industrial Air Compressor industry.
Market Drivers:
Increasing demand for energy-efficient air compressors is expected to propel the growth of the Industrial Air Compressor market. An industrial air compressor is a device that works in converting potential energy into compressed air form. This energy-efficient air compressor can create an advantage in the world of growing energy costs and increasing accessibility to energy-saving technologies in industrial sectors. For instance, according to the U.S. Department of Energy, on average 10 to 30% of all energy of the industrial facility is used by compressed air systems. Using energy-efficient air compressors in the industries can be improved 20% energy consumption in a better way.
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Market segments for Industrial Air Compressor include:
1) By Type: Rotary Air Compressors, Reciprocating Air Compressors, Centrifugal Air Compressors
2) By Product: Positive Displacement, Dynamic Displacement
3) By Seal: Oil-Free Seal, Oil-Lubricated Seal
4) By Application: Food And Beverage, Oil And Gas, Energy And Mining, Semiconductor And Electronics, Manufacturing, Construction And Municipal, Pharmaceuticals, Agriculture/Farming
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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