Air Compressor Market by Type (Portable and Stationary), Technology (Reciprocating, Rotary, and Centrifugal), Lubrication Method (Oiled, and Oil-free), Power Rating (0-100 kW, 101-300 kW, 301-500 kW, and 501 kW & Above), and End-User Industry (Food & Beverage, Oil & Gas, Manufacturing, Power Generation, Medical, and Others) - Global Opportunity Analysis and Industry Forecast, 2014-2023

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Air Compressor Market Outlook-2023

The Global Air Compressor Market size is expected to reach $26,850.35 million in 2023, from $19,798.56 million in 2016, growing at a CAGR of 4.47% from 2017 to 2023. The air compressors use kinetic energy possessed by the compressed air to provide the required energy to various equipment, tools, and machineries across different industry verticals. Moreover, the continuous compression provides assistance 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.

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Technological advancement in air compression techniques has profound influence over the compression capabilities of the equipment and subsequently is expected to drive the air compressor market growth during the forecast period. Moreover, the rise in adoption of robust and energy efficient equipment is also expected to fuel the demand for air compressors in the industry. In addition, the equipment require application of sophisticated technology with high technical expertise for designing high power rated and efficient air compression equipment. Consequently, the high cost of installation and maintenance for the equipment is expected to hinder the market growth of air compressor market in the coming years. However, the increase in production activities from Asia-Pacific and LAMEA are expected to provide profitable business opportunities to the manufacturers during the forecast period.

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The air compressor market is segmented based on type, technology, lubrication method, power rating, end-user industry, and region. By type, the market is bifurcated into portable and stationary. Based on technology, it is classified into reciprocating, rotary, and centrifugal. According to lubrication method, it is divided into oiled and oil-free air compressors. By power rating, the air compressor market is categorized into 0-100 kW, 101-300 kW, 301-500 kW, and 501 kW & above rated air compressors. Moreover, based on end-user industry the market is segmented into food & beverage, oil & gas, manufacturing, power generation, medical, and others. Based on region, it is analyzed across North America, Asia-Pacific, Europe, and LAMEA.

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The air compressors based on reciprocating technology owing to simpler construction have significant market share in the past years. However, technologically superior air compressors such as centrifugal and rotary are preferred for heavy duty industrial applications. Thus, the centrifugal and rotary-based air compressors deliver high power rated air compressors with significantly reduced noise and vibrations. These are available in oil-free designs, as well.

Key Benefits for Air Compressor Market:

• The study provides an in-depth analysis of the global air compressor market share along with the current & future trends to elucidate the imminent investment pockets.
• Information about key drivers, restrains, and opportunities and their impact analysis on the air compressor market is provided.
• Porter’s Five Forces analysis illustrates the potency of buyers & suppliers operating in the air compressor industry.
• The quantitative analysis of the market from 2017 to 2023 is provided to determine the market potential.

 Key Market Segments & Key Market Players