Global Industrial Air Compressor Market Size Analysis - Market Share, Forecast Trends and Outlook Report (2024-2032)

Global Industrial Air Compressor Market Growth

An industrial air compressor is a machine in which power is converted into potential energy, which is stored in compressed air through either a diesel engine or an electric motor. An important driver behind the industrial air compressors demand growth is the increasing rate of industrialisation in developed and emerging markets alike. All this has helped in a positive way in the trends and market because these compressors are used in sectors like petrochemicals, chemicals, construction, transportation, pharmaceuticals, and more.

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Global Industrial Air Compressor Market Analysis

The industrial air compressor industry growth is primarily driven by escalating demand for portable air compressors. Various sectors including construction, mining, and agriculture, often require these portable units. This is due to their flexibility and ease of transport. Designed to operate in remote locations where traditional stationary air compressors are impractical, these devices are gaining popularity. However, as industries pursue equipment that merges mobility and versatility with robust performance, the demand for portable air compressors is on the rise. Although challenges exist, the trend is undeniable, because companies recognise the value of adaptability in today’s fast-paced environment.

Investments from a variety of governments as well as significant market players are shaping the industrial air compressor market dynamics and trends. Funding directed toward development and research programs (which focus on the creation of advanced mechanical and industrial equipment utilizing industrial air compressors) is anticipated to propel market growth. Furthermore, rapid industrialisation in emerging markets particularly in the Asia-Pacific region is playing a crucial role in the expansion of this industry. Countries such as China, India and Indonesia are witnessing a construction, manufacturing, and automotive surge. Although these economies are growing, the demand for air compressors continues to escalate. However, the interplay between supply and demand remains complex as it is influenced by both local and global market conditions.

The incorporation of the Internet of Things (IoT) along with advanced technologies into industrial air compressors is significantly altering the market landscape. Compressors equipped with IoT sensors are capable of monitoring performance metrics such as pressure, temperature and air quality in real-time. This (because) of the ability to track these variables is driving the demand of industrial air compressor market. Operators are now able to optimize their operations and identify potential issues before they escalate, thereby facilitating predictive maintenance. Although there are challenges in implementation, analyzing data trends allows companies to improve efficiency and reduce the total cost of ownership; hence, smart compressors emerge as a compelling option for industrial applications. However, the transition to these technologies requires careful consideration of various factors influencing their effectiveness.

Industrial Air Compressor Industry Outlook

According to the International Renewable Energy Agency, the global wind electricity capacity has seen steady growth from 2012 to 2023. In 2012, the total capacity stood at approximately 300,000 MW, predominantly driven by onshore wind. By 2013, the capacity increased to 350,000 MW, continuing the reliance on onshore wind installations. The trend remained strong, reaching 400,000 MW in 2014 and further growing to 450,000 MW by 2015, with only marginal increases in offshore wind capacity. The year 2016 saw the capacity rise to 500,000 MW, with offshore wind starting to contribute more significantly. By 2017, global wind capacity reached 550,000 MW, reflecting continued investment in both onshore and offshore projects. The capacity rose to 600,000 MW in 2018, with offshore wind's contribution becoming more noticeable. In 2019, total capacity crossed 650,000 MW. Further, a significant leap occurred in 2020, when the capacity surged to 750,000 MW, with offshore wind's role expanding. By 2021, the total capacity reached 800,000 MW, and by 2022, it approached 900,000 MW. Finally, in 2023, the global wind electricity capacity exceeded 1,000,000 MW, reflecting the rapid adoption of both onshore and offshore wind energy globally. This surge in global wind energy capacity is driving industrial air compressor market revenue, as there is an increased demand for compressors in the manufacturing, maintenance, and operation of turbines.

As per BP Energy, in 2020, North American oil production reached 23.5 million barrels per day, driven by significant contributions from the United States and Canada. The U.S. remained the largest producer with 16.46 million barrels per day, while Canada followed with 5.13 million barrels per day. Mexico’s output was more modest at 1.92 million barrels per day. By 2021, North American production slightly increased to 23.94 million barrels per day, with U.S. production growing to 16.58 million barrels per day and Canada’s output surging to 5.43 million barrels per day. Growing oil production is fuelling the industrial air compressor industry revenue by increasing the demand for compressors used in critical oil extraction and refining processes.

Industrial air compressors are utilised across various industries, including manufacturing, energy, and construction, ensuring consistent industrial air compressor market demand.

• Technological advancements have made air compressors more energy-efficient, driving their appeal in cost-conscious industries.
• Increased industrialisation, particularly in emerging markets, supports steady growth for air compressors.

Industrial air compressors often require frequent maintenance and skilled labour, leading to high operational expenses.

• Older compressor models consume significant energy and contribute to environmental pollution, creating challenges for companies.
• Initial investment costs for high-quality air compressors are substantial, which can be a barrier for smaller businesses.

Industrialisation in regions like Asia-Pacific presents opportunities for increased sales thus boosting industrial air compressors industry growth.

• The development of energy-efficient and oil-free compressors is creating growth potential in eco-conscious sectors.
• Increasing automation in industries is driving the demand for advanced, smart air compressors.

Volatility in energy prices can impact operating costs and demand for air compressors.

• Intense competition among manufacturers may lead to pricing pressures and lower margins.
• Environmental regulations could increase compliance costs for traditional compressor technologies.

Key Players in the Global Industrial Air Compressor Market and Their Key Initiatives

Atlas Copco AB

• Launched energy-efficient GA VSDs air compressors aimed at reducing energy consumption and emissions to meet the growing industrial air compressor market demand.
• Acquired DGM SRL to expand its product portfolio and strengthen its market presence globally.

Ingersoll Rand Inc.

• Acquired Air Power Systems Co., LLC, which expanded Ingersoll Rand’s hydraulic and pneumatic product offerings.
• Acquired UT Pumps & Systems Private Limited.

Mitsubishi Heavy Industries, Ltd.

• Partnered with RMS in 2023 to enhance maintenance and repair services for critical rotating equipment.
• Introduced a new generation of high-efficiency electric compressors for fuel cell systems.

Kaeser Kompressoren SE

• Focused on creating advanced, energy-efficient air compressors to reduce operational costs and environmental impact.
• Integrated IoT technology into their compressors, enabling real-time monitoring and predictive maintenance to enhance system reliability and efficiency.

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Global Industrial Air Compressor Industry Segmentation

“Global Industrial Air Compressor Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Reciprocating Air Compressors
• Rotary Air Compressors
• Centrifugal Air Compressors

Market Breakup by End Use

• Manufacturing
• Healthcare
• Oil and Gas
• Food and Beverage
• Power Generation
• Construction and Mining
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

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Industrial Air Compressor Market Share

Centrifugal air compressors are driving the growth of the industrial air compressor industry as they outperform reciprocating air compressors in various aspects: efficiency, diminished maintenance needs and the ability to accommodate large-scale applications. These compressors are specifically designed for continuous, high-volume operations, rendering them particularly advantageous for industries such as manufacturing, petrochemicals, and power generation, all of which require consistent airflow. However, with fewer moving parts, centrifugal compressors endure less wear and tear, leading to lower maintenance costs and decreased downtime when compared to reciprocating compressors, which are composed of multiple moving elements (like pistons).

Rotary air compressors are significantly shaping the growth of industrial air compressor market by offering numerous advantages over their reciprocating counterparts. Designed for continuous and demanding applications, rotary compressors provide a steady, uninterrupted flow of air; this characteristic makes them particularly suitable for industries such as manufacturing, automotive and oil and gas. Their durability stems from having fewer moving components, which, in turn, results in diminished wear and tear, reduced maintenance requirements and an extended lifespan. However, reciprocating compressors rely on piston mechanisms, which tend to experience quicker deterioration.

Leading Companies in the Industrial Air Compressor Market

The companies specialise in the development and manufacturing of a wide range of industrial equipment and solutions, including air compressors, pneumatic tools, and related technologies for various applications.

• Atlas Copco AB
• Ingersoll Rand Inc.
• Mitsubishi Heavy Industries, Ltd.
• Kaeser Kompressoren SE
• Others

Industrial Air Compressor Market Report Snapshots

Industrial Air Compressor Market Size

Industrial Air Compressor Market Analysis

Industrial Air Compressor Market Share

Industrial Air Compressor Companies