The global air compressor market size is anticipated to reach USD 34.10 billion by 2030, registering a CAGR of 4.7% from 2023 to 2030. Air compressors are used in various industries, such as food and beverages, home appliances, oil and gas, semiconductors and electronics, healthcare, manufacturing, and energy. The rising need for the reduction of CO2 emissions and stringent regulations pertaining to environmental conservation is anticipated to boost market growth. Moreover, eco-friendly, reliable features, ease of handling, and low maintenance costs offered by the product are propelling its demand.
The onset of the COVID-19 pandemic resulted in lockdowns and declining investments across industries and verticals, which hampered the growth of the market. However, after a short slowdown, the market is expected to rebound and witness a healthy growth rate in the post-pandemic era.
The growing consumer awareness regarding product quality, the need for improved air quality, and supportive government policies on energy conservation are anticipated to boost the market growth. At workplaces, air compressors are required to comply with the Occupational Health & Safety (OHS) regulations, which would positively impact the market over the forecast period.
Oil-free air compressors are expected to emerge as the fastest-growing lubrication segment. The growth is attributed to the increased proliferation in the manufacturing sector. Moreover, oil-free compressors reduce the operating costs by evading compressor oil separator elements and down-streaming filter replacement costs.
Asia Pacific dominated the market for air compressor in 2020 owing to rapid industrialization in emerging economies, such as India and China. The need for efficient and next-generation compressors has propelled the product demand across different industries in the region.
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Air Compressor Market Report
The stationary air compressor segment accounted for over 60.5% market share in 2023, while the portable segment is anticipated to emerge as the fastest-growing segment from 2024 to 2030
The oil-filled compressor segment is likely to lead the market over the forecast period. These compressors are widely adopted for commercial applications by the chemical, energy, and manufacturing industries
The rotary segment will dominate the market share over the forecast period. These compressors offer continuous airflow at different discharge pressure and operate through positive displacements. Furthermore, features such as easy maintenance and longer product life are expected to fuel the demand for these compressors over the forecast period
Asia Pacific held the largest market share in 2023. The growing oil and gas sector in countries such as China and India is, in turn, expected to lead the growth of the market
Grand View Research has segmented the global air compressor market based on type, product, lubrication, application, and region:
Air Compressor Type Outlook (Revenue, USD Billion; Volume, Units 2018–2030)
Stationary
Portable
Air Compressor Product Outlook (Revenue, USD Billion; Volume, Units 2018–2030)
Reciprocating
Rotary/Screw
Centrifugal
Air Compressor Lubrication Outlook (Revenue, USD Billion; Volume, Units; 2018–2030)
Oil Free
Oil Filled
Air Compressor Application Outlook (Revenue, USD Billion; Volume, Units 2018–2030)
Healthcare & Medical
Manufacturing
Oil & Gas
Home Appliances
Food & Beverage
Energy
Semiconductor & Electronics
Others
Air Compressor Air Compressor Operating Mode Outlook (Revenue, USD Billion; Volume, Units; 2018–2030)
Electric
Internal Combustion Engine
Air Compressor Power Range Outlook (Revenue, USD Billion; Volume, Units; 2018–2030)
Up to 20 kW
21–50kW
51–250 kW
251–500 kW
Over 500kW
Air Compressor Regional Outlook (Revenue, USD Billion; Volume, Units 2018–2030)
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Asia Pacific
China
India
Japan
Australia
South Korea
Central & South America
Brazil
Argentina
Middle East & Africa
Saudi Arabia
South Africa
List of Key Players of Air Compressor Market
AireTex Compressor
Atlas Copco
Bauer Group
BelAire Compressors
Cook Compression
Compressor Products International (CPI)
Frank Compressors
Galaxy Auto Stationary Equipment Co. Ltd.
Gast Manufacturing, Inc.
GENERAL ELECTRIC
Ingersoll Rand Plc
Kaeser Compressors
MAT Industries, LLC