Industrial Air Compressor Market Scenario
Factors such as energy efficiency and ease of maintenance will likely drive the market for industrial air compressors. In addition, increasing industrialisation is expected to further boost the global demand for air compressors. Increasing demand for energy-efficient compressors, increasing energy consumption and expanding liquefaction facilities globally are key drivers of the Industrial Air Compressor Market. Around 70 per cent of manufacturers use compressed air for safety and convenience in machine tools, spray painting, material handling and separation equipment. These compressors can also work in places where fire hazards and explosions are restricting other forms of energy. These factors have given rise to increased use of industrial air compressors. However, factors such as stringent government legislation relating to noise pollution and greenhouse gas emissions would limit the global demand for industrial air compressors.
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Advances in compressor technology and a focus on energy savings are expected to provide the global industrial air compressor market with lucrative business opportunities. Significant investments are being made worldwide to improve the cross-border oil and gas transportation network, rapid industrialisation in emerging economies and high demand for processed food are also likely to be among the main drivers. This growth can be attributed to the growing demand for advanced and efficient air compressors and the growth of a network of cross-border oil & gas pipelines. It is also expected that the growth of industries such as chemicals and petrochemicals, pharmaceuticals, manufacturing, power generation, pulp and paper, and food and beverage will boost demand for these air compressors as well.
Market Segmentation
Industrial Air Compressors Market was segmented by type, seal, pressure, and end-use. The market is classified according to type into dynamic and positive displacement. Positive Displacement is expected to hold the largest share due to increased demand for compressors with high pressure output.
The market is classified, based on seal, into oil-lubricated and oil-free. Among these, it is expected that the oil-free segment will dominate the market as these compressors are less expensive, light weight, and produce maximum air flow and pressure.
The pressure market for industrial air compressors is divided into up to 20 bar, 20-100 bar, above 100 bar. Segment holding the largest share in the global industrial air compressor market is estimated to hold up to 20 bar.
The industrial air compressor market is segmented on end-use basis into oil & gas, chemicals & petrochemicals, manufacturing and others. The oil & gas segment is projected to dominate the global industrial air compressor market due to increased investment in gas liquefaction facilities in Asia Pacific and North America.
Regional Overview
Market by region industrial air compressor is segmented into Asia Pacific, North America , Europe , Middle East & Africa and South America.
Due to the rising industrialisation and expansion of regasification and liquefaction plants in the region, Asia Pacific is expected to hold the largest share during the forecast period. China is the main country for industrial air compressors in the Asia-Pacific region, due to the expansion of the country’s re-gasification facilities. Positive displacement in Asia-Pacific is expected to dominate the market for industrial air compressor based on form segment.
In the forecast period, Middle East & Africa is projected to grow at the fastest rate Because of the large number of reservoirs in the Middle East and in the area of Africa. Furthermore, the increasing demand for air compressors in various manufacturing industries is expected to drive the Middle East & Africa industrial air compressor market.
Key Players
The key players of global industrial air compressor market are Danfoss (Denmark), Atlas Copco (Sweden), Ingersoll-Rand plc (Ireland), Howden Group Ltd. (UK), GE Oil & Gas (US), Sullair LLC (US), Gardner Denver (US), Hitachi Ltd (Japan), Elloitt Group Ltd. (US), Sulzer AG (Switzerland), Kirloskar Pneumatics Co. Ltd. (India), Kobe Steel Ltd. (Japan), and Mitsubishi Heavy Industries, Ltd. (Japan).
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