DUBLIN--(BUSINESS WIRE)--The "Global Air Compressor Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Type, Technology, Lubrication, Application and Region" report has been added to ResearchAndMarkets.com's offering.

According to estimates, the Global Air Compressor Market grew from around ~US$25 Bn in 2017 to nearly ~US$30 Bn in 2022 and is expected to grow further into a more than ~US$40 Bn opportunity by 2028.

It is expected to record a positive CAGR of ~5% during the forecasted period (2022-2028), owing to the rapid growth in industrialization and rising investments to enhance the oil and gas pipeline network.

One of the main factors propelling the expansion of the global air compressor market is the expanding oil and gas sector. The market is expanding as a result of the increased energy demand in developing nations like China, India, and South Korea. According to India Brand Equity Foundation (IBEF) by 2045, it is anticipated that India's oil consumption will have increased by a factor of 2x, to reach 11 million barrels per day.

Environmentally friendly compressor technologies, low maintenance, retrofitting of existing systems, efficient operation at lower costs, rising adoption of variable-speed systems, oil-free lubrication processes, and growth in the popularity of portable models are propelling the growth of the market.

The global market is expanding due to the rising demand for air compressors that are energy-efficient in order to reduce operating costs. The market growth is anticipated to be positively impacted by the increasing initiatives taken by key industry players to create affordable and environmentally friendly air compressors.

Several businesses have already created next-generation systems that provide high-performance capabilities at reasonable prices. Atlas Copco, a Swedish multinational industrial company, in 2022, has launched a New Energy-Efficient GA VSDS Compressor that provides up to 60% energy savings and intelligent, adaptable operation.

Strict government restrictions related to noise levels and greenhouse gases emitted by air compressors would be a significant barrier for this market. According to Legal Information Institute, a non-profit organization, portable air compressors with a maximum rated capacity of less than or equal to 250 cubic feet per minute (cfm) should not produce an average sound level in excess of 76 dBA when measured and evaluated in accordance with the methodology given by this regulation.

Governments all over the world implemented stringent national lockdowns in 2020 as a result of the growing need to stop the COVID-19 illness from spreading. This in turn hindered a number of businesses and enterprises from expanding. The pandemic also had an impact on the air compressor market, which saw a significant fall in sales and profitability. But post-COVID-19, it's anticipated that a greater emphasis on energy efficiency, energy recovery, and lowering CO2 emissions would fuel demand for air compressors.

Competitive Landscape

The air compressor market is highly competitive with ~300 players which include globally diversified players, regional players as well as a large number of country-niche players having their niche in air compressors.

Country-niche players control about ~55% of the market, while regional players constitute ~30% of the total number of competitors by type. Some of the major players in the market include Ingersoll Rand Plc, Atlas Copco, Elgi equipment limited, MAT Holdings, Inc., Sullair, Mitsubishi Heavy Industries Ltd., Bauer Compressors, Inc., VMAC Company, Kirloskar Pneumatic, and Doosan Portable power

Recent Developments Related to Major Players

In August 2019, the new line of cutting-edge compressors from Atlas Copco was introduced for small and medium-sized businesses. The new compressors contribute to cost- and production-cutting.

In February 2021, the Mid-Range Series Portable Compressors from Sullair were introduced. The electronic spiral valve technology, which enables flexibility and improved operational efficiency, is integrated into this device.

Conclusion

The global air compressor is forecasted to continue the exponential growth that is witnessed since 2017, due to the increasing demand for products with higher operational output and efficiency is the primary concern that manufacturers are seeking to address in the market. Though the market is highly competitive with ~300 players, few global players control the dominant market share and regional players also hold a significant market share.

Key Topics Covered in the Report

• Snapshot of Global Air Compressor Market
• Industry Value Chain and Ecosystem Analysis
• Market size and Segmentation of the Global Air Compressor Market
• Historic Growth of Overall Global Air Compressor Market and Segments
• Competition Scenario of the Market and Key Developments of Competitors
• Porter's 5 Forces Analysis of Global Air Compressor Industry
• Overview, Product Offerings, and Strength & Weakness of Key Competitors
• COVID-19 Impact on the Overall Global Air Compressor Market
• Future Market Forecast and Growth Rates of the Total Global Air Compressor Market and by Segments
• Market Size of Application/End User Segments with Historical CAGR and Future Forecasts
• Analysis of Global Air Compressor in Major Regions
• Major Production/Supply and Consumption/Demand Hubs within Each Region
• Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
• Overview of Notable Emerging Competitor Companies within Each Major Region

Leading Companies

• Ingersoll Rand
• Atlas Copco
• Elgi Equipments Limited
• MAT Holdings, Inc
• Sullair
• Mitsubishi Heavy Industries Ltd
• Bauer Compressors, Inc
• VMAC
• Kirloskar Pneumatic
• Doosan Portable power

Scope of the Report

Period Captured in the Report

• Historical Period: 2017-2021
• Forecast Period: 2022E-2028F

By Type

• Stationary
• Portable

By Technology

• Rotary
• Centrifugal
• Reciprocating

By Lubrication

• Oil-free
• Oil filled

By Application

• Manufacturing
• Food & Beverage
• Healthcare/Medical
• Oil & Gas
• Home Appliances
• Energy & Power
• Electronics & Semiconductor
• Others

For more information about this report visit https://www.researchandmarkets.com/r/ejdj9d

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