Air Compressor Market Size
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 37.80 Billion |
| Market Size (2029) | USD 47.54 Billion |
| CAGR (2024 - 2029) | 4.69 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Air Compressor Market Analysis
The Air Compressor Market size is estimated at USD 37.80 billion in 2024, and is expected to reach USD 47.54 billion by 2029, growing at a CAGR of 4.69% during the forecast period (2024-2029).
- Over the medium term, soaring demand from natural gas sector and increasing demand from the refinery and petrochemical sector, are likely to support the air compressor market growth during the forecast period
- On the other hand, higher capital cost compared to traditional internal combustion engines is likely to hinder the market growth during the study period.
- Nevertheless, the technical advancement in the air compressor industry is leading to the development of products that requires less operational and maintenance investment. such as, oil-free systems are expected to get the opportunity in the industries which would reduce expenses related to maintenance during certain intervals.
- Asia-Pacific is estimated to witness a significant growth in the air compressor market due to the ongoing growth of the oil and gas industry in India, China, and Japan. A broad industrial base for semiconductor and electronics manufacturing in China and Taiwan is projected to drive the market further.
Air Compressor Market Trends
Positive Displacement Compressors Expected to Hold Significant Market Share
- In a positive displacement air compressor, the gas is drawn in during the suction stroke of the piston, compressed by decreasing the volume of the gas by moving the piston in the opposite direction, and discharged when the gas pressure exceeds the pressure acting on the outlet valve. Reciprocating compressors are useful for supplying small amounts of gas at high pressures.
- Although the discharge pressure range of rotary-type positive displacement compressors is limited, their demand is expected to grow due to the growing food and beverage industry. Because of the internal cooling system, these air compressors are designed for continuous use and range in power from 5 horsepower up to 350 horsepower.
- With technical advancements and rapidly growing demand in the automobile industry, the market share of air compressors is expected to grow significantly. With the help of air compressors, parts can be assembled rapidly and precisely in this sector.
- Air conditioners are one of the significant applicants for air compressors. With the advancement in living standards globally, air conditioner sales have driven the air compressor market. According to the Air-conditioning, Heating, and Refrigeration Institute, the number of air-conditioners imported by the United States increased from 3.92 million in 2012 to 6.05 million units in 2022, representing an increase in the consumption of air conditioners directly aiding the air compressor market.
- Based on multiple growing industries using the positive displacement air compressor, positive displacement air compressors will likely hold a significant market share during the forecast period.
Asia-Pacific to Dominate the Market
- Asia-Pacific is witnessing tremendous growth in industrialization in different industries, including small-scale to large-scale. The manufacturing sector significantly contributes to the region's GDP.
- With the growing refining and gas market in countries such as India and China, an increase in the market for air compressors is adamant. Considerable investments in the gas pipeline industry are set to boost the air compressor market.
- Stationary air compressors, including small-size compressors in refrigerators and air conditioners, hold a significant share of the compressor market, and the growing F&B industry is expected to boost the air compressor market.
- The energy and power industry is set to grow in the region due to high investment in power plants from developing nations, such as China and India. It is set to drive industrial growth, which is expected to boost the demand for industrial compressors.
Air Compressor Industry Overview
The air compressor market is fragmented. Some of the key players in this market (not in particular order) include Atlas Copco Group, Ingersoll Rand Inc., Siemens AG, Gardner Denver Inc., and Sullair LLC (Hitachi Group).
Air Compressor Market Leaders
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Atlas Copco Group
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Ingersoll Rand Inc.
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Siemens AG
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Gardner Denver Inc.
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Sullair LLC (Hitachi Group)
*Disclaimer: Major Players sorted in no particular order
Air Compressor Market News
- April 2023, ZF's Commercial Vehicle Solutions (CVS) division introduced a new high-speed electric air compressor for fuel cells. ZF also announced this as an exclusive development agreement with the Liebherr Group's Aerospace & Transportation product segment. The partners will develop advanced fuel cell air compressor systems for their respective customer bases, with ZF exclusively equipping commercial vehicles.
- March 2023, Sullair announced the unveiling of the E1035H, a next-generation air compressor. The development of this product aligns with Hitachi's long-term environmental target, Hitachi Environmental Innovation 2050. The new compressor provides the same durability, reliability, and performance as its diesel counterparts.
- December 2022, ELGi ELGi Compressors USA Inc. announced the strategic rebranding of its portable air compressor line in North America, previously branded as Rotair. The company is rebranding Rotair to ELGi to strengthen its position and credibility in North America.
Air Compressor Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD, till 2028
- 4.3 Recent Trends and Developments
- 4.4 Government Policies and Regulations
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4.5 Market Dynamics
- 4.5.1 Drivers
- 4.5.1.1 Soaring Demand From Natural Gas Sector
- 4.5.1.2 Increasing Demand From The Refinery And Petrochemical Sector
- 4.5.2 Restraints
- 4.5.2.1 Higher Capital Cost Compared To Traditional Internal Combustion Engines
- 4.6 Supply Chain Analysis
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4.7 Porter's Five Forces Analysis
- 4.7.1 Bargaining Power of Suppliers
- 4.7.2 Bargaining Power of Consumers
- 4.7.3 Threat of New Entrants
- 4.7.4 Threat of Substitutes Products and Services
- 4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Type
- 5.1.1 Positive Displacement
- 5.1.1.1 Reciprocating
- 5.1.1.2 Rotary
- 5.1.2 Dynamic
- 5.1.2.1 Axial
- 5.1.2.2 Centrifugal
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5.2 End User
- 5.2.1 Oil and Gas
- 5.2.2 Power Sector
- 5.2.3 Manufacturing Industry
- 5.2.4 Chemicals and Petrochemicals
- 5.2.5 Other End Users
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5.3 Geography (Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)})
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Rest of North America
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 France
- 5.3.2.3 United Kingdom
- 5.3.2.4 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 India
- 5.3.3.3 Japan
- 5.3.3.4 South Korea
- 5.3.3.5 Rest of Asia-Pacific
- 5.3.4 Middle East and Africa
- 5.3.4.1 Saudi Arabia
- 5.3.4.2 United Arab Emirates
- 5.3.4.3 South Africa
- 5.3.4.4 Rest of Middle East and Africa
- 5.3.5 South America
- 5.3.5.1 Brazil
- 5.3.5.2 Argentina
- 5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
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6.3 Company Profiles
- 6.3.1 Atlas Copco Group
- 6.3.2 Ingersoll Rand Inc.
- 6.3.3 General Electric
- 6.3.4 Siemens AG
- 6.3.5 Gardner Denver Inc.
- 6.3.6 Sullair LLC (Hitachi Group)
- 6.3.7 Sulzer Ltd
- 6.3.8 ELGI Equipments Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 The Technical Advancement in the Air Compressor Industry
Air Compressor Industry Segmentation
An air compressor is a mechanical, pneumatic device that converts energy into potential energy stored in pressurized air using an electric motor, diesel or gasoline engine, etc. An air compressor device pushes more and more air into a storage tank, thus increasing the pressure. The air compressor shuts off when the pressure inside the storage tank reaches its defined upper limit.
The air compressor market is segmented into type, end user, and geography. By type, the market is segmented into positive displacement and dynamic displacement. By end user, the market is segmented into oil and gas, power sector, manufacturing industry, chemicals and petrochemicals, and other end users. The report also covers the market size and forecasts for the air compressor market across major regions. The market sizing and forecasts for each segment are based on revenue (in USD).
| Type | Positive Displacement | Reciprocating |
| Rotary | ||
| Type | Dynamic | Axial |
| Centrifugal | ||
| End User | Oil and Gas | |
| Power Sector | ||
| Manufacturing Industry | ||
| Chemicals and Petrochemicals | ||
| Other End Users | ||
| Geography (Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)}) | North America | United States |
| Canada | ||
| Rest of North America | ||
| Geography (Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)}) | Europe | Germany |
| France | ||
| United Kingdom | ||
| Rest of Europe | ||
| Geography (Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)}) | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography (Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)}) | Middle East and Africa | Saudi Arabia |
| United Arab Emirates | ||
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography (Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)}) | South America | Brazil |
| Argentina | ||
| Rest of South America |
Air Compressor Market Research FAQs
How big is the Air Compressor Market?
The Air Compressor Market size is expected to reach USD 37.80 billion in 2024 and grow at a CAGR of 4.69% to reach USD 47.54 billion by 2029.
What is the current Air Compressor Market size?
In 2024, the Air Compressor Market size is expected to reach USD 37.80 billion.
Who are the key players in Air Compressor Market?
Atlas Copco Group, Ingersoll Rand Inc., Siemens AG, Gardner Denver Inc. and Sullair LLC (Hitachi Group) are the major companies operating in the Air Compressor Market.
Which is the fastest growing region in Air Compressor Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Air Compressor Market?
In 2024, the Asia Pacific accounts for the largest market share in Air Compressor Market.
Air Compressor Industry Report
Statistics for the 2024 Air Compressor market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Air Compressor analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
