Industrial Air Compressor Market Size, Share & Trends Analysis Report Forecast Period (2024-2031).
Industrial Air Compressor Market Size, Share & Trends Analysis Report Forecast Period (2024-2031).
Blog Article
Industrial air compressor market is anticipated to grow at a significant CAGR of 7.8% during the forecast period (2024-2031). The demand for industrial air compressors is increasing owing to factors such as industrialization, infrastructure development, technological advancements, energy efficiency, automation, and demand for high-quality compressed air. The expanding manufacturing sector, particularly in emerging economies, requires reliable solutions. The rise of automation and robotics also demands compressors for various industries.
Get Sample Copy of this Report at
https://www.omrglobal.com/request-sample/industrial-air-compressor-market-size
Industrial Automation and Manufacturing Growth
Industrial automation and manufacturing growth have increased demand for pneumatic tools, relying heavily on air compressors, which enhance production efficiency by providing reliable power sources for automated machinery. According to the International Federation of Robotics, in February 2023, the global stock of operational robots reached approximately 3.5 million units, with the value of installations estimated at around $15.7 billion.
Technological Advancements
Technological innovations, including patent-pending inter-stage cooling systems and over/under designs, are driving market growth through advancements in cooling systems and compact designs. For instance, in March 2024, Hitachi Global Air Power launched the Sullair TS 190-260 Series two-stage rotary screw air compressors, renowned for their high efficiency and reliability. The compressors feature a patent-pending inter-stage cooling system and an over/under design for a smaller footprint. Engineers at the company prioritized efficiency, minimizing greenhouse gas emissions, as compressed air, is a significant energy cost in industrial manufacturing.
Market Segmentation
Based on the product type, the market is segmented into axial compressors, centrifugal compressors, positive displacement, rotary compressors, and reciprocating compressors.
Based on the verticals, the market is segmented into energy & power generation, food & beverage, oil & gas, manufacturing, chemical & petrochemicals, and others (construction, and textiles)
Based on the end-user, the market is segmented into 0kw-50kw, 50kw-250kw, 250kw-500kw, and Above 500kw
Oil & Gas Segment is Projected to Hold the Largest Market Share
The oil and gas sector is adopting innovative technologies and innovation to boost productivity, dependability, and sustainability. For instance, in April 2023, ELGi showcased its latest compressed air solutions at Hannover Messe, featuring advanced features such as an integrated heat recovery system and a permanent magnet synchronous motor, and its first two-stage oil-lubricated screw air compressor.
Rotary Compressors Segment to Hold a Considerable Market Share
The innovative design features of these compressors, including durable components and efficient motor technology, align with current trends in industrial compressor technology, driving market growth. For instance, in August 2023, Doosan Bobcat introduced a 150-hp, fixed-speed, oil-flooded, rotary screw compressor, the D150. The model will be renamed IA150 in 2024 as part of the company's transition to the Bobcat portfolio. The D150 offers reliable, consistent flow output and is designed with larger, more durable components. It features a reliable IE3 premium efficiency TEFC motor, protecting it from contaminants.
Regional Outlook
The global industrial air compressor market is further segmented based on geography including North America (the US, and copyright), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Industrial Growth and Expansion in North America Region
The regional growth is attributed to North America's robust manufacturing and industrial sectors driving demand for new compressor technologies, including low-pressure solutions, owing to ongoing infrastructure projects and industrial growth. For instance, in April 2024, Kaishan USA introduced the KRSL series of industrial, low-pressure rotary screw air compressors, equipped with Kaishan's patented ‘SKYv’ airend. These compressors can handle applications ranging from 25 psig (pound-force per square inch) to 45 psig, offering improved efficiency, consistent airflow, reduced noise, a smaller footprint, and lower total cost of ownership compared to conventional blower solutions.
In May 2024, ELGi launched the EQ Series of oil-lubricated direct-drive air compressors in North America, designed to provide superior performance and reliability for small and medium-sized operations. The EQ Series is available in multiple capacities from 25-30 HP, with fixed or variable-speed drives, and a reliable TEFC (Totally Enclosed, Fan-Cooled) motor, and can operate in ambient temperatures of 122°F. The compressors are available as base-mounted, tank-mounted, or tank-mounted with dryer and filters.
The major companies serving the industrial air compressor market include Atlas Copco AB, Ingersoll Rand Inc., Hitachi Industrial Products, Ltd., KAESER KOMPRESSOREN SE, and Siemens Energy among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions to stay competitive in the market.
Recent Developments
In January 2023, Ingersoll Rand acquired SPX FLOW's Air Treatment business for $525.0 million, adding energy-efficient compressed air dryers, filters, and consumables to its core compressor product offering. The business, manufacturing in the US, Germany, and South Korea, has an attractive growth profile and is part of the Ingersoll Rand IT&S segment.
The Report Covers
Market value data analysis of 2023 and forecast to 2031.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global industrial air compressor market. Based on the availability of data, information related to new products, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
Inquire for Discount on this Report at
https://www.omrglobal.com/report-customization/industrial-air-compressor-market-size
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offers Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: [email protected]
Contact no: +91 780-304-0404