Press release
Industrial Air Compressor Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033 | Atlas Copco, Danfoss A/S, HD Hyundai Infracore Co. Ltd., EBARA Corporation., Elgi Equipments Limited.
Industrial Air Compressor Market Size
The Business Research Company offers in-depth market insights through Industrial Air Compressor Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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%. The growth in the forecast period can be attributed to transition towards electric and hybrid air compressors for sustainability, demand for oil-free and contaminant-free compressed air solutions, customization of compressor systems for specific industrial applications, research and development in next-generation air compressor technologies, expansion of compressed air usage in emerging industries and applications. Major trends in the forecast period include variable speed drive (vsd) and variable frequency drive (vfd) technology, oil-free air compressor systems, energy-efficient and high-efficiency particulate air (hepa) filters, integration of iot for remote monitoring and predictive maintenance, hybrid and dual-power air compressors.
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Market Segmentation:
The main types of industrial air compressors are rotary air compressors, reciprocating air compressors, and centrifugal air compressors. Rotational air compressors are rotary positive displacement devices that can operate at high speeds over a wide range of pressures and flows. These are divided into positive displacement and dynamic displacement with a variety of seals such as oil-free seals and oil-lubricated seals. They can be used in several industries such as food and beverage, oil and gas, energy and mining, semiconductor and electronics, manufacturing, construction and municipal, pharmaceuticals, agriculture/farming.
Major Driver - Rise In Demand For Energy Efficient Compressors
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. Thus, introducing energy-efficient air compressors in the industrial air compressor is a great step.
Competitive Landscape:
Major companies operating in the industrial air compressor market include Atlas Copco, Danfoss A/S, HD Hyundai Infracore Co. Ltd., EBARA Corporation., Elgi Equipments Limited., Hitachi Ltd., Howden Group Ltd., Ingersoll-Rand PLC, Kaeser Kompressoren Inc., Kirloskar Pneumatics Co. Ltd, Kobe Steel Ltd., Baker Hughes Company., BOGE KOMPRESSOREN Otto Boge GmbH & Co. KG, MAT Industries LLC., Coaire Inc., Elliott Group Ltd., FS-Curtis, Fusheng Group, Gardner Denver Pvt Ltd., Air Squared Inc., Air Systems Products LLC., Airmaze Corporation Pte Ltd ., American Eagle Accessories Group, Bambi Air Compressors Ltd., Bauer Compressors Inc., Chicago Pneumatic Holdings Ltd., Curtis-Toledo Inc., EMAX Compressor, Jenny Products Inc.
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Top Trend - Innovation Of Aero Control Systems In Air Compressors Market
Technological developments in the field of air compressors are shaping the industrial air compressor market. Companies that are into Industrial Air compressors are undergoing develop new technologies and products. For instance, in February 2021, CMC introduced the AIRMATICS Aero control system. CMC, an Italian-based manufacturer of air compressors that used to be applicable in the Industrial sector introduced the AIRMATICS Aero control system. They aim to reduce compressed air energy bills at the plant. by which they can save the business $500,721 kWh a year and can reduce the annual energy bill at the plant by $35,050, which includes Industrial Air Compressor, more sustainable and less expensive for manufacturers worldwide.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Industrial Air Compressor Market Characteristics
3. Industrial Air Compressor Market Trends And Strategies
4. Industrial Air Compressor Market - Macro Economic Scenario
5. Industrial Air Compressor Market Size And Growth
…..
27. Industrial Air Compressor Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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