IMARC Group has recently released a new research study titled “Air Compressor Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028“, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
Market Outlook:
The global air compressor market size reached US$ 17.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 22.7 Billion by 2028, exhibiting a growth rate (CAGR) of 3.76% during 2023-2028.
An air compressor is a mechanical device that converts power, typically from an electric motor or an internal combustion engine, into potential energy stored in compressed air. It comprises various components, including a compressor pump, a motor or engine, a tank or receiver, and various control mechanisms. It is commercially available as reciprocating compressors, rotary screw compressors, and centrifugal compressors. It works by taking in ambient air and compressing it to a higher pressure, which can then be used for various applications across different industries. It is employed in manufacturing and construction environments for powering various pneumatic tools and equipment, such as impact wrenches, drills, sanders, and spray guns. It is also used in commercial settings, such as automotive service centers, where they power tools, inflate tires, and operate pneumatic lifts.
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Market Trends and Growth Drivers:
At present, the increasing demand for air compressors in the food industry to move ingredients down a process line represents one of the primary factors impelling the market growth. Besides this, the rising employment of air compressors in moving crude oil from the source to refineries where it can be processed is contributing to the growth of the market. In addition, the growing investments in developing compressors that consume minimum energy and have a lower environmental impact is offering a favorable market outlook.
Apart from this, the increasing demand for portable air compressors, particularly in the construction and automotive sectors, is supporting the growth of the market. Additionally, the rising availability of Internet of Things (IoT) enabled compressors with various advanced features, including remote monitoring, predictive maintenance, and real-time performance analysis, is bolstering the growth of the market.
Who are the key players operating in the industry?
The report covers the major market players including:
- Atlas Copco AB (OTCMKTS: ATLKY)
- Bauer Compressors Inc.
- Berkshire Hathaway Inc. (NYSE: BRK.A)
- Ciasons Industrial Inc.
- Desran Compressor (Shanghai) Co.Ltd
- Doosan Corporation (KRX: 000150)
- ELGi Equipments Limited (NSE: ELGIEQUIP)
- Hitachi Ltd. (OTCMKTS: HTHIY)
- Ingersoll Rand Inc. (Trane Technologies plc) (NYSE: IR)
- Rolair Systems and Suzler Ltd.
What is included in market segmentation?
The report has segmented the market into the following categories:
Based on Type:
- Portable
- Stationary
Based on Technology:
- Reciprocating/Piston
- Rotary/Screw
- Centrifugal
Based on Lubrication Method:
- Oil-filled
- Oil-free
Based on Power Rating:
- 0-100 kW
- 101-300 kW
- 301-500 kW
- 501 kW and Above
Based on End User:
- Manufacturing
- Semiconductors and Electronics
- Food and Beverages
- Healthcare/Medical
- Home Appliances
- Energy
- Oil and Gas
- Others
Geographical Analysis:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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