The global air compressor market size is expected to be worth USD 57.31 billion by 2032 from USD 41.43 billion in 2024, growing at a CAGR of 4.14% from 2024 to 2032.
Compressed air is evolving with advanced technologies and will perform critical functions in various industries, such as robotics, large-scale applications, and household tasks. Air compressors are widely used characteristics in non-industrial activities and the adoption is gradually growing. An air compressor is a piece of equipment used to convert electrical energy into kinetic energy using compressed air. Compressed air is a gas or gas mixture under extreme compression that is used to create energy, which can be used in pneumatic gears such as jackhammers or drills and others. Air compressors are of two types, which are stationary and portable. There are currently two evolving technologies in the air compressor industry, which are turbocor Technology and thermoacoustic technology. Turbocor technology offers an oil-free design with relatively more minor moving debris. It promises high productivity and consistency. Compressors of thermoacoustic technology are powered by a thermoacoustic motor and a positive displacement reciprocating compressor.
The emphasis on energy efficiency and sustainability in developing countries has increased substantially in recent years and paved the way for air compressors. Industrialization is happening at a rapid pace in developing countries and resulted in an increased number of manufacturing activities. These growing manufacturing activities have further resulted in the increased need for reliable and efficient sources of compressed air to power their equipment and processes. Likewise, as industrialization progresses further in developing countries, it is likely to boost the air compressor market growth.
The demand for energy-efficient air compressors from manufacturers worldwide is growing rapidly and is favoring the global market growth. The growing use of air compressors in the food industry due to strict government food safety regulations and technological advancements in air compression methods that have a strong influence on the compression capabilities of the equipment are promoting global market growth. An increase in the adoption of rugged and energy-efficient devices, the rise in GDP and the rising middle-class population are contributing to an increase in the demand for residential cooling devices and contributing to the air compressor market growth.
The rising inclination of industrial manufacturers towards factory automation is resulting in improved productivity and reduced production times, which is showing a positive impact on global market growth. The technological boom has improved the compression capabilities of air compressors. The advent of energy-efficient air compressor designs that are possible in portable formats has been broadly utilized by industries worldwide, which is expected to showcase numerous growth possibilities to the market participants.
The shortage of skilled labor, technicians, and engineers in many countries is one of the significant restraints to the growth of the air compressor market. The high cost of installing and maintaining the equipment is further impeding the growth of the global market.
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2032 |
Base Year |
2023 |
Forecast Period |
2024 to 2032 |
CAGR |
4.14% |
Segments Covered |
By Type, Technology, Lubrication Method, End-User Industry and Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Atlas Copco AB, Kobe Steel Ltd., Elgi Equipments Limited, Ingersoll-Rand PLC, Kirloskar Pneumatic Company Limited, Mitsubishi Heavy Industries Ltd., Sulzer Ltd. |
Based on type, the portable segment held 54.6% of the worldwide market share in 2023 and is expected to grow at the fastest CAGR during the forecast period. The adoption of portable air compressors in construction, automotive, and emergency service sectors is growing significantly, which is majorly propelling the growth of the portable segment in the global market. An increasing demand for portable compressors for DIY projects and household use, growing innovation in battery-powered portable compressors and versatility, mobility, and on-the-go applications are further expanding the growth of the portable segment in the global market.
The stationary segment is anticipated to account for a substantial share of the global market during the forecast period. The higher power capacity and growing usage of stationary air compressors in industrial applications are boosting the growth rate of the stationary segment in the global market. Increasing awareness of energy-efficient and environmentally friendly stationary compressors is further propelling the growth of the stationary segment in the global market.
Based on technology, the rotary segment dominated the market and accounted for 49.2% of the global market share in 2023 and is predicted to grow at a healthy CAGR throughout the forecast period owing to the efficiency, versatility, and suitability of rotary air compressors for various industrial applications. Technological advancements, such as variable speed drives that enhance performance are further fuelling the growth rate of the rotary segment in the global market.
On the other hand, the centrifugal segment is expected to grow at the fastest CAGR during the forecast period. Centrifugal systems are more efficient because fewer components are in contact with one other, resulting in less kinetic friction and more airflow. The growing usage of centrifugal air compressors in power generation, petrochemical, and heavy industries is primarily driving the segmental expansion in the global market.
Based on the lubrication method, the petroleum segment held a share of 69.8% of the global market in 2023 and is expected to showcase healthy growth during the forecast period. The usage of petroleum-lubricated air compressors is high in the general manufacturing, construction, and automotive industries, which is majorly driving the growth of the petroleum segment in the global market.
The oil-free segment is anticipated to witness a promising CAGR during the forecast period owing to the rapid industrialization and growth in the semiconductor, food processing, and manufacturing sectors driving demand.
Based on end-users, the manufacturing segment had 26.4% of the global market share in 2023 and is predicted to grow at a healthy CAGR during the forecast period. Air compressors are essential in manufacturing for powering pneumatic tools, assembly lines, and material handling, which is majorly driving the manufacturing segment. Increasing demand for energy-efficient compressors in manufacturing plants and continuous innovation to enhance efficiency are boosting the growth rate of the manufacturing segment in the global market.
Asia-Pacific is experiencing tremendous industrialization growth in different industries, including small and large scale. According to World Bank estimates, more than 40% of the region's GDP comes from industrial and manufacturing activity. Furthermore, with the growth of the refining and gas market in countries like India and China, an increase in the air compressor market is indisputable. Additionally, considerable investments in the pipeline industry are expected to boost the air compressor market. Stationary air compressors, including small-size compressors in refrigerators and air conditioners, have a large share of the compressor market. The increasing adoption of the food and beverage industry is expected to drive the air compressor market. The power and energy industry is expected to expand due to high investment in power plants in emerging economies including India and China. It is expected to drive industrial growth, which is expected to stimulate the demand for industrial compressors.
North America and Europe regions are anticipated to experience steady growth over the forecast period. However, increased investment in Eastern Europe is expected to increase growth opportunities for industrial air compressors. Additionally, growing consumer attention to easy-to-use and energy-efficient products is expected to drive market growth.
Companies such as Atlas Copco AB, Kobe Steel Ltd., Elgi Equipments Limited, Ingersoll-Rand PLC, Kirloskar Pneumatic Company Limited, Mitsubishi Heavy Industries Ltd and Sulzer Ltd are playing a dominating role in the global air compressor market. Atlas Copco AB had the largest share of the Air Compressor Market in terms of sales revenue in 2021.
By Type
By Technology
By Lubrication Method
By End-User Industry
By Region
Frequently Asked Questions
The key drivers include the rising demand for energy-efficient compressors, technological advancements such as the development of oil-free compressors, and the increasing application of air compressors in diverse sectors like food and beverage, pharmaceuticals, and healthcare. Additionally, the growth of the construction and mining industries in emerging economies is fueling market expansion.
Energy-efficient air compressors are gaining traction due to rising energy costs and the global emphasis on reducing carbon footprints. Governments and organizations are increasingly adopting stringent energy regulations, which is driving the demand for compressors that consume less power and offer higher efficiency, leading to a shift towards energy-efficient models.
Technological advancements, such as the development of oil-free compressors, smart and connected air compressors, and variable speed drive (VSD) technology, are revolutionizing the market. These innovations are enhancing the efficiency, reliability, and lifespan of air compressors, making them more attractive to a broader range of industries.
The future outlook for the global air compressor market is positive, with steady growth expected over the next decade. The ongoing industrialization in emerging markets, coupled with the rising demand for energy-efficient solutions, is likely to drive market expansion. However, manufacturers will need to navigate challenges such as cost pressures and evolving regulatory requirements to sustain growth.
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