The global air & gas compressor market is expected to witness significant growth over the forecast period. The growth may be attributed to surging air & gas compressor demand across the air blast circuits, transport, automobiles, chemical plants, food & beverages, oil extraction, and pharmaceutical industries. Increasing automation in plants or facilities is expected to favorably impact market development. Development of energy-efficient portable compressors is estimated to be largely adopted across numerous industrial activities, which is also anticipated to positively impact market growth over the next few years.
Air compressors supply and monitor gas/air flow for various non-industrial and industrial activities. It facilitates gas transfer process in numerous industries such as chemical plants, oil extraction, and automobiles. A gas compressor is a mechanical device that increases the pressure of gas by reducing its volume. An air compressor is a specific type of gas compressor. Technological advancements resulting in reduced maintenance cost and fuel consumption may fuel market expansion; however, air contamination due to oil lubrication coupled with noisy operations of oil-free compressors may hamper market growth over the coming years. In addition, stringent government regulations pertaining to the manufacture of air & gas compressor are also expected to challenge market augmentation. Fluctuating raw material prices may also hamper market growth over the next few years.
The rising need to produce compressed air, which is largest used utility after water, electricity, and natural gas, may spur market development extensively. Compressed air plays a vital role in most of the modern manufacturing processes, and is also referred to as the fourth utility. Several products and components used today are majorly manufactured using compressed air. Owing to the aforementioned facts, necessity is expected to be the key driving force for the global air & gas compressor market. Increasing R&D investments and efforts are further estimated to propel the air & gas compressor market demand over the forecast period. The market is poised for growth owing to growing adoption of compressors in the construction industry, especially in developing countries. In addition, several benefits offered by air & gas compressors such as eco-friendly operations, portability, and ability to deliver variation in supplied pressure are also anticipated to drive the air & gas compressor market growth over the coming years.
The air & gas compressor market can be classified into positive displacement and centrifugal compressors. Centrifugal compressor segment is expected to account for majority market share in the global air & gas compressor market over the forecast period. This can be attributed to centrifugal compressor’s large scale application, capability to deliver high and constant flow of air pressure, and oil-free operations.
North America is estimated to account for majority market share in the global air & gas compressor market over the next seven years owing to the all-time high, new exploration activities paired with shale boom, fueling the market for truck usage in oil and gas industries in this region. Furthermore, presence of numerous manufacturers and growing adoption of compressors in this region may also contribute positively to market augmentation. Government mandates pertaining to the use of air & gas compressor may also drive the regional market growth in North America and Europe. Asia Pacific is expected to exhibit high growth owing to increasing development activities in countries such as China, India, and Japan. In addition, outsourcing of essential manufacturing processes to these developing countries owing to low labor cost is also expected to drive market growth in this region.
Key market participants include Atlas Copco, GE, Ingersoll Rand, Siemens, Accudyne Industries, BOGE, Doosan, Dresser-Rand, Ebara, ELGI Equipment Ltd., Fusheng, Gardner Denver, Hanbell, Hitachi, Hongwuhuan, Kaeser Compressors, Kaishan, Kirloskar, Kobe Steel, Mitsubishi Heavy Industries, Shanghai Feihe Industrial Group, Shanghai Screw Compressor, Sulzer, Thomas Industries Inc., VMAC, Wuxi Compressor, and Yujin Machinery.
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