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2023

Air Compressor Market

Air Compressor Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (Portable, Stationary), by Technology (Reciprocating, Rotary, Centrifugal), by Lubrication Type (Oiled, Oil-free): Global Opportunity Analysis and Industry Forecast, 2022-2031

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Author's: Ganesh Nandkumar Dasturkar| Digvijay Pawar | Sonia Mutreja
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Air Compressor Market Research, 2031

The Global Air Compressor Market Size was valued at $28.4 billion in 2021, and is projected to reach $46.2 billion by 2031, growing at a CAGR of 4.9% from 2022 to 2031.Air compressors use kinetic energy possessed by compressed air to provide the required energy to various equipment, tools, and machineries across different industry verticals. Moreover, the continuous compression aids in transportation of fluids & gases, production of petrochemical related products, operation of pneumatically based machineries, and cooling applications. As a result, the air compressors have large scope of application in different end-users for dehydration, vacuum packaging, air blowing, spray painting, tool powering, cleaning, and medical equipment.

Air Compressor Market

Market Dynamics

The consumption of packaged food increased dramatically during the pandemic, changing consumer habits. The week before the March 2020 lockdown announcement saw an 87.6% year-on-year increase demand of packed food requirement. After restrictions were eased, consumer buying habits changed. People preferred to buy packaged food bags that were vacuum-packed, frozen, and nitrogen-sealed. The air compressor market is expected to see sustained growth as the market for packaged food grows.

Products such as nail guns, paint sprayers, pressure washers cutting tools, polishers, impact wrenches, socket wrenches screwdrivers, and tire inflators are employed more domestic purposes. All devices use some type of portable air compressor. Portability is another major advantage associated with air compressors. Portable tools are required in multiple industries such as construction, and mining for performing various tasks. In such scenarios, it is not always feasible to perform such tasks using electric or hydraulic tools, as mobility is a major constraint associated with them. In addition, portable air compressors act as a promising solution for this problem as the air-powered tools can be moved around along with their power supply. Therefore, the market for air compressors used in manufacturing such machines is expected to drive air compressor market growth.

However, rise in demand for rental air compressors is expected to restrain sale/purchase of new air compressors, thus hindering the market growth. Key vendors for rental air compressor include Cramo, Blueline, ACME fab-con, Sunbelt, and Coates Hire. Strategic maneuvers and contributions by these prominent industry players have decreased the demand for new air compressors. Small and medium scale industries prefer renting air compressors over purchasing new compressors. Such factors restrain the growth of the air compressor industry.

The demand for air compressors decreased in 2020, owing to low demand from different regions due to lockdown imposed by the government of many countries. The COVID-19 pandemic had shut down the production of air compressors for the end-user, mainly owing to prolonged lockdowns in major global countries. This has hampered the growth of the air compressor market significantly during the pandemic. The major demand for air compressors was previously noticed from giant manufacturing countries including China, U.S., Germany, Italy, and the UK, which was severely affected by the spread of coronavirus, thereby halting demand for air compressors. This is expected to lead to the re-initiation of the manufacturing industry at its full-scale capacities, which is likely to help the air compressor market to recover.

Air compressors are widely used in oil & gas, mining, and other industries for performing multiple applications such as drilling, compressed air filing, painting, and others. The demand for crude oil and renewable resources has grown significantly due to a rise in the use of machinery and equipment across many end-use industries and significant development in the manufacturing sector. In 2021, 95 million barrels are consumed globally. Harnessing the oil with effective machinery and innovative technology is now essential to meeting the world's needs. Thus, it is anticipated that the use of air compressor that can withstand harsh environments will increase demand for these air compressor products on the worldwide market. Such trends are expected to offer lucrative opportunities for the growth of the air compressor market.

Segmental Overview

The air compressor market is segmented on the basis of type, technology, lubrication method, and region. By type, the market is classified into portable and stationary. By technology, the market is divided into reciprocating, rotary, and centrifugal. By lubrication method, the market is bifurcated into oiled and oil-free.

Region wise, the air compressor market analysis is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

By Technology:

The air compressor market is categorized into reciprocating, rotary, and centrifugal. A positive displacement compressor is another name for a reciprocating air compressor. The piston-cylinder setup that is used to compress air is included in this compressor. Both lubricated and oil-free versions are offered. Rotary air compressors are positive displacement compressors, which are utilized to harness the natural energy of air by converting it into a potential source of energy in the form of pressurized air. They are used in process industries, which include oil & gas, waste management, chemicals, power generation, automotive, mining, pharmaceuticals, food & beverages, and others. Centrifugal compressors, which are employed in the air separation and plant air compression industries are radical compressors that transform kinetic energy into potential energy or static pressure. They run between 20,000 and 30,000 RPM and are helpful in tiny petrol turbines. Stationary segment is expected to exhibit the largest revenue contributor during the forecast period. Rotary is expected to exhibit the highest CAGR share in the technology of segment in the air compressor market during the forecast period.

Air Compressor Market
By Technology
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Rotary segment is expected to hold the majority share of the market throughout the study period.

By Type:

The air compressor market is classified into portable and stationary. The crucial task of supplying compressed air to pneumatic hand tools, other gear, and equipment is carried out by air compressors. In particular at remote construction sites, portable air compressors provide fast access to compressed air wherever you need it. Air compressor that are stationary are built to remain in one place. The devices come in various sizes and are heavier in weight. In industrial facilities, these air compressors are anchored to level ground or platforms. The stationary segment is expected to be the largest revenue contributor during the forecast period, and the portable segment is expected to exhibit the highest CAGR share in the type segment in the air compressor market during the forecast period.

Air Compressor Market
By Type
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Stationary segment is expected to hold the majority share of the market throughout the study period.

By Lubrication Method:

The air compressor market is divided into oiled, and oil-free. Oil-lubricated air compressors are a form of reciprocating compressor that is powered by an oil-lubricated piston. Internal combustion engines, such as those used in automobiles and trucks, also employ the same technology. Each time the piston moves up and down inside its cylinder, it draws in a certain amount of air and then compresses it to a different size. Oil-lubricated air compressors are effective due to the minimal wear and tear of rotating cylinders. However, the air released by these compressors contains oil and is dangerous when used in sectors like pharmaceuticals, food & beverage, and medicine, among others. Oil-free air compressors are used in crucial applications as a solution to this issue. Teflon piston rings are used in oil-free air compressor as they do not need to be lubricated. The oiled segment is expected to exhibit the largest revenue share in the lubrication method segment in the air compressor market during the forecast period. The oil-free segment is expected to exhibit the largest CAGR during the forecast period.

Air Compressor Market
By Lubrication Type
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Oiled segment is expected to hold the majority share of the market throughout the study period.

By Region:

The air compressor market forecast is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2021, Asia-Pacific held the highest revenue in air compressor market share. And LAMEA is expected to exhibit the highest CAGR during the forecast period.

Air Compressor Market
By Region
2031
Asia-pacific 
North America
Europe
LAMEA

Asia-Pacific is the largest market throughout the study period.

Competition Analysis

The major players profiled in the air compressor market include Atlas Copco AB, Ebara Corporation, Elgi Equipment Ltd., Ingersoll Rand Inc., kirloskar pneumatic company limited, Kobe Steel Ltd., Mitsubishi Heavy Industries Ltd., Sullair, Sulzer Ltd., and VMAC.

Major companies in the market have adopted acquisition, partnership and product launch as their key developmental strategies to offer better products and services to customers in the air compressor market.

Some examples of acquisition and partnership in the market

In February 2023, Sullair acquired compressed air distributors California Compression and CDA Systems. By means of this acquisition, it has specialized in the sales and service of compressors and related equipment. CDA Systems provides compressor sales and service and preventive maintenance for compressors, air dryers, and filtration systems. The two companies are co-located in Livermore, California.

In June 2022, Atlas Copco acquired Associated Compressor Engineers Ltd, a UK-based company that manufactures air compressor systems in order to expand its product portfolio throughout America.

In May 2021, Atlas Copco acquired MidState Air Compressor. By means of this acquisition, it expanded its product portfolio throughout Massachusetts, Connecticut, and Rhode Island in the U.S.

In March 2022, EBARA CORPORATION acquired 100% equity of Hayward Gordon L.P. Canada. With the acquisition of Hayward Gordon, EBARA is expected to expand our product ranges and sales channels mainly for public sewage, industrial equipment, and process industry.

In October 2022, Ingersoll Rand Inc. acquired SPX FLOW’s Air Treatment business for approximately $525 million. With expected revenue of approximately $180 million in 2022, the Air Treatment business is a leading manufacturer of reliable and energy efficient desiccant and refrigerated dryers, filtration systems, and purifiers for dehydration in compressed air. The business has manufacturing capabilities in the U.S., Germany, and South Korea with nearly 500 employees and goes to market through the recognized brands of Hankison, Pneumatic Products, Jemaco, Deltech, and Delair.

The Product Launch in the Market

In March 2023, Sullair launched its new E1035H electric portable compressor. by means of this launched it provides long-term environmental targets, titled “Hitachi Environmental Innovation 2050.” The Hitachi Group has set a target of becoming carbon neutral in all its global factories and offices by fiscal 2030 and achieving carbon neutrality throughout its entire value chain by fiscal 2050.

In March 2023, Sullair launched it LS Series lubricated rotary screw industrial air compressors with the release of higher powered LS190-260 Series models.

In February 2021, Sullair, one of the prominent manufacturers of compressors, launched Mid-Range Series Portable Compressors, integrated with Electronic Spiral Valve Technology. The product will provide better flexibility and higher efficiency in operations. The portable equipment and smaller engine size of the product provide exceptional maneuverability and ease in towing operations for the customers.

In July 2021, Ingersoll Rand Inc. launched the new GDK Series of high efficiency oil-lubricated rotary screw compressors. The GDK Series is the first product line in Asia-Pacific to integrate and leverage the innovative technologies from Ingersoll Rand and Gardner Denver's Industrial Group, following the merger of both companies. Combining innovative engineering design, world class technology, and stringent quality control along with global resources and expertise, the GDK Series delivers some of the lowest lifecycle and operating costs on the market, providing some of the best value compressors available today.

In August 2022, Ingersoll Rand launched its new rotary screw compressor and small reciprocating in India. by means of this launched an extensive product portfolio in the year 2020~21 in India over the coming months. These products will bring the best of trusted Ingersoll Rand and Gardener Denver technologies. Two new products launched include small, air-cooled reciprocating in 3HP-25HP and new rotary screw in 7.5-11kw.

In June 2020, Elgi Equipment's launched the ‘LD Series’ range of lubricated direct drive reciprocating air compressors. With a low life cycle cost and quick return on investment, every LD series air compressor is backed by best-in-class performance for given input power, durable parts and a minimum number of service points.

In March 2022, Elgi Equipment's launched its high performance, energy-efficient, and reliable electric and diesel portable air compressors at EXCON 2022. The electric-powered PG 110E -13.5, and the diesel-powered PG 575 – 225 machines were launched at the ELGi outdoor stand OD 81 today. Also on display were the diesel-powered PG 500-185, PG 330-100, and the electric-powered PG 90E and PG 55E trolley mounted portable air compressors.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the air compressor market analysis from 2021 to 2031 to identify the prevailing air compressor market opportunity.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the air compressor market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global air compressor market trends, key players, market segments, application areas, and market growth strategies.

Air Compressor Market Report Highlights

Aspects Details
Market Size By 2031
Market Size By 2031

USD 46.2 billion

Growth Rate
Growth Rate

CAGR of 4.9%

Forecast period
Forecast period

2021 - 2031

Report Pages
Report Pages

320

Air Compressor Market By Type
By Type
  • Portable
  • Stationary
Air Compressor Market By Technology
By Technology
  • Reciprocating
    • Reciprocating Type
      • Single stage
      • Two stage
      • Rocking piston
      • Diaphragm
  • Rotary
    • Rotary Type
      • Screw
      • Rotary helical
      • Rotary sliding vane
  • Centrifugal
Air Compressor Market By Lubrication Type
By Lubrication Type
  • Oiled
  • Oil-free
Air Compressor Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, UK, France, Italy, Rest of Europe)
  • Asia-Pacific  (China, Japan, South Korea, India, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players
Key Market Players

Elgi Equipment Ltd., Sulzer Ltd., Kirloskar Pneumatic Company Limited, EBARA CORPORATION, Kobe Steel Ltd., Atlas Copco AB, Ingersoll Rand Inc., VMAC, Mitsubishi Heavy Industries Ltd., Sullair

Analyst Review

The air compressor market witnessed a huge demand in Asia-Pacific. The highest share of the Asia-Pacific market is attributed to increasing in demand for air compressors in the manufacturing and food & beverage industries in the region.

An air compressor is used to increase air pressure by reducing the volume of air. The implementation of the most energy-efficient air compressor is crucial due to its widespread use in business. Utilizing energy-efficient air compressors significantly lower power costs and aid in energy conservation. In addition, major market participants have concentrated on the launch of new products to expand their product line. For instance, in June 2022, Torad Engineering's new rotary vane compressor attained an energy efficiency ratio (EER) of 12. This is regarded as an unprecedented advancement in compressor technology in terms of effectiveness and the use of affordable models. Moreover, a rise in rental demand for air compressors is anticipated to limit sales and purchases of new air compressors, slowing the expansion of the industry. Cramo, Blueline, ACME fab-con, Sunbelt, and Coates Hire are key players. Such strategies of rental air compressors reduce the sale of new air compressors and limit the expansion of the market. Furthermore, the application of the oil-free and oil-filled compressor segments in accordance with operational requirements for the industry is expected to open new growth opportunities for the market. In turn, this is anticipated to support the development of the air compressor market during the forecast period.

The major players profiled in the air compressor market include Atlas Copco AB, Ebara Corporation, Elgi Equipment Ltd., Ingersoll Rand Inc., Kirloskar pneumatic company limited, Kobe Steel Ltd., Mitsubishi Heavy Industries Ltd., Sullair, Sulzer Ltd., and VMAC.

Author Name(s) : Ganesh Nandkumar Dasturkar| Digvijay Pawar | Sonia Mutreja
Frequently Asked Questions?

The global air compressor market was valued at $28,362.3 million in 2021, and is projected to reach $46,145.3 million by 2031, registering a CAGR of 4.9% from 2022 to 2031.

The forecast period considered for the global air compressor market is 2022 to 2031, wherein, 2021 is the base year, 2022 is the estimated year, and 2031 is the forecast year.

The latest version of the global air compressor market report can be obtained on demand from the website.

The base year considered in the global air compressor market report is 2021.

The major players profiled in the air compressor market include Atlas Copco AB, Ebara Corporation, Elgi Equipment Ltd., Ingersoll Rand Inc., Kirloskar pneumatic company limited, Kobe Steel Ltd., Mitsubishi Heavy Industries Ltd., Sullair, Sulzer Ltd., and VMAC.

The top ten market players are selected based on two key attributes - competitive strength and market positioning.

The report contains an exclusive company profile section, where leading companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance (in terms of revenue and volume sales), various strategies, and recent developments.

Based on lubrication type, the oiled segment dominated the market in 2021.

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Air Compressor Market

Global Opportunity Analysis and Industry Forecast, 2022-2031