Air Compressor Market Size, Share & Trends Report

Air Compressor Market Size, Share & Trends Analysis Report By Type (Stationary, Portable), By Product (Reciprocating/Piston, Rotary/Screw, Centrifugal), By Lubrication, By Application, By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Sep, 2021
  • Base Year for Estimate: 2020
  • Report ID: 978-1-68038-483-3
  • Format: Electronic (PDF)
  • Historical Data: 2018 - 2019
  • Number of Pages: 140

Report Overview

The global air compressor market size was valued at USD 32.02 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.4% from 2021 to 2028. With the burgeoning need to control the spread of the COVID-19 infection, governments around the world implemented strict national lockdowns in 2020. This, in turn, hampered the growth of various sectors and industries. Likewise, the market for air compressor was also affected by the pandemic, witnessing a significant decline in sales and profits. Furthermore, the increasing cases of COVID-19 in various countries due to the second wave resulted in partial lockdowns across the globe. This has subsequently impacted the investments in the oil and gas industry along with the growth of the market.

U.S. air compressor market size, by product, 2018 - 2028 (USD Million)

However, post COVID-19, an increasing focus on energy efficiency, energy recovery, and reduction of CO2 emissions is expected to propel the demand for air compressors. The increased demand for services and monitoring of compressed air installations is also expected to drive revenue growth during the forecast period. Furthermore, a rise in demand for air compressors from the food & beverage market due to stringent regulations on food safety & health is anticipated to drive the market. An increase in investments in oil & gas extraction activities in the North American and Middle Eastern countries is also expected to contribute to the growth of the air compressor market.

The growing adoption of variable-speed systems, low maintenance cost, effective operation, and retrofitting for existing systems are some factors propelling the demand for air compressors across key end-use industries. Energy-efficient compressors are witnessing a surge in demand owing to their cost-effective operations. However, the growing number of gas compressor stations has led to increasing concerns around air quality. Hence, air monitoring systems are widely being installed for measuring the impact of air and gas compressors. Additionally, the subsequent introduction of non-oil and gas-based projects, and continuous investments in the industry, is driving the demand for air compressors.

Prominent players are developing eco-friendly and low-maintenance systems to encourage end users to opt for next-generation products. Companies such as Ingersoll Rand Plc and Atlas Copco Inc. have developed next-generation systems with high-performance capabilities to differentiate their products in a highly competitive market. Some of the key features offered by these air compressors include increased efficiency and reduced noise levels.

The demand for innovative compressors that offer high cost-saving techniques and eliminate the need for supplementary devices has witnessed significant growth across various applications. The increasing focus of consumers on the total solution and lifecycle cost is providing new growth avenues for energy-efficient air compressors. Additionally, the increasing use of compressed air in industrial power tools is also driving market growth.

Type Insights

The stationary air compressor segment accounted for over 50% market share in 2020 due to the high adoption of these compressors in the manufacturing sector. Additionally, in the oil and gas sector, these compressors are widely used for operating pneumatic equipment that is used for pipeline, oil extraction & refining, and other processes.

The portable air compressor segment is expected to register the highest CAGR over the forecasted period owing to the rising adoption of these products in construction and mining activities. Portable air compressors are a reliable power source for machines and tools in the construction industry as well as several other industries. Furthermore, these compressors require lesser maintenance and are easy to handle, due to which their demand is increasing in low-duty applications.

Product Insights

Based on product, the market has been segmented into rotary/screw, reciprocating/piston, and centrifugal. The rotary segment will dominate the market share over the forecast period. This can be attributed to the high adoption of rotary air compressors in large industrial applications, such as papermaking and printing, metallurgy and mining, electric power, electronic and electrical, and mechanical and electrical machinery.

The centrifugal segment is anticipated to register the highest CAGR over the forecast period. These compressors are energy efficient, have fewer rubbing parts, and have higher airflow than other compressors. Furthermore, they are widely used in applications such as gas turbine, oil refinery, petrochemical, food and beverage, and chemical plant. All these factors are anticipated to boost the segment growth over the forecast period.

Lubrication Insights

Based on lubrication, the market has been bifurcated into oil-filled and oil-free. The oil-filled segment is expected to dominate the market and reach USD 25.90 billion by 2028. Oiled-filled air compressors are widely adopted for commercial applications in the energy, manufacturing, and chemical industries. They are durable and produce low noise compared to the oil-free compressor.

The oil-free segment is expected to register the highest CAGR over the forecast period owing to the implementation of new regulations for curbing emissions and the rising focus of governments on environmental safety. Moreover, factors such as rapid industrialization and growth of the manufacturing, food processing, and semiconductor sectors are also propelling the demand for air compressors.

Application Insights

Based on application, the market has been segmented into manufacturing, semiconductors and electronics, food and beverage, home appliances, healthcare/medical, oil and gas, energy, and others. Other applications include construction, chemical, and metal and mining. The manufacturing segment accounted for the largest share in the market in 2020. This can be attributed to the rapid industrialization in developing economies such as India, China, and Brazil, coupled with increasing demand for advanced and energy-efficient air compressors in the manufacturing sector.

Global air compressor market size, by application, 2020 (USD Million)

The oil and gas segment is expected to register the highest CAGR over the forecast period. This can be attributed to the increased demand for air compressors for the re-injection of reservoir pressure preservation. According to a Russian Regulation, 95% of the associated petroleum gas must be compressed for the initial treatment of crude oil prior to transportation by pipeline. Such legislations are expected to drive the segment during the forecast period.

Regional Insights

Asia Pacific accounted for over 30% of the market share in 2020, owing to the continuous government investments in infrastructure development and rapid industrialization. The market growth is driven by the demand for air compressors from various applications, such as food and beverage, manufacturing, home appliances, and oil and gas industries. Furthermore, the presence of several manufacturers of compressors in India and China, along with the large industrial base for electronics and semiconductor manufacturing in China and Taiwan, is expected to drive market growth.

North America and Europe are anticipated to grow steadily over the forecast period. However, increased investments in Eastern Europe are expected to augment the growth opportunities for industrial air compressors. Moreover, the increasing focus of consumers on easy-to-use and energy-efficient products is projected to boost the market growth.

Key Companies & Market Share Insights

The market can be described as a competitive market characterized by the presence of several large market players, such as Atlas Copco; AireTex Compressor; BelAire Compressors; Bauer Group; Compressor Products International (CPI); Galaxy Auto Stationary Equipment Co. Ltd.; Ingersoll Rand Plc; Kaeser Compressors; GENERAL ELECTRIC; and Sullair LLC. Companies are focusing on expanding their product portfolio to gain a larger market share. These players are pursuing various organic and inorganic growth strategies, such as M&A and collaborations, to strengthen their position in the global market. Some of the prominent players operating in the global air compressor market are:

  • AireTex Compressor

  • Atlas Copco

  • Bauer Group

  • BelAire Compressors

  • Cook Compression

  • Compressor Products International (CPI)

  • Frank Compressors

  • Galaxy Auto Stationary Equipment Co. Ltd.

  • Gast Manufacturing, Inc.

  • GENERAL ELECTRIC

  • Ingersoll Rand Plc

  • Kaeser Compressors

  • MAT Industries, LLC

Air Compressor Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 32.36 billion

Revenue forecast in 2028

USD 40.98 billion

Growth Rate

CAGR of 3.4 % from 2021 to 2028

Base year for estimation

2020

Historical data

2018 - 2019

Forecast period

2021 - 2028

Quantitative Units

Revenue in USD Million and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Type, product, lubrication, application, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; China; India; Mexico; Brazil

Key Company Profiled

AireTex Compressor; Atlas Copco; Bauer Group; Cook Compression; BelAire Compressors; GENERAL ELECTRIC; Ingersoll Rand Plc

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional, and segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options.


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and analyzes the latest industry trends in each of the sub-segments from 2018 to 2028. For this study, Grand View Research has segmented the global air compressor market report based on type, product, lubrication, application, and region:

  • Type Outlook (Revenue, USD Million, 2018 - 2028)

    • Portable

    • Stationary

  • Product Outlook (Revenue, USD Million, 2018 - 2028)

    • Reciprocating/Piston

    • Rotary/Screw

    • Centrifugal

  • Lubrication Outlook (Revenue, USD Million, 2018 - 2028)

    • Oil-Filled

    • Oil-Free

  • Application Outlook (Revenue, USD Million, 2018 - 2028)

    • Manufacturing

    • Semiconductors & Electronics

    • Food & Beverage

    • Healthcare/Medical

    • Home Appliances

    • Energy

    • Oil & Gas

    • Others

  • Regional Outlook (Revenue, USD Million, 2018 - 2028)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • China

      • India

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

Frequently Asked Questions About This Report

gvr icn

GET A FREE SAMPLE

gvr icn

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself...

gvr icn

NEED A CUSTOM REPORT?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.

Contact us now to get our best pricing.

BBB icon D&B icon

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure.