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Rising demand for high-efficiency air compressors for critical industrial operations is driving industrial air compressor market revenue growth
NEW YORK CITY, NEW YORK, USA, August 2, 2022 /EINPresswire.com/ -- The global industrial air compressor market size is expected to reach USD 53.88 Billion in 2030 and register a revenue CAGR of 4.4% over the forecast period, according to the latest report by Reports and Data. Increasing investments in energy-efficient technologies for use in various industrial operations is driving industrial air compressor market revenue growth.
Industrial air compressors are powerful and highly efficient compressors that produce power of over 100 Pound-Force Per Square Inch (PSI) and 200 Horsepower (HP). These compressors consist of powerful motors and sturdy components, thereby enabling them to operate at much higher-pressure levels than other commercially used compressors. Air compressors used for industrial applications include centrifugal, scroll, and turbo air compressors, which perform several critical industrial tasks, such as powering pneumatic tools in manufacturing plants, to support critical operations in oil fields.
Rising demand for efficient manufacturing infrastructure is one of the crucial factors driving market revenue growth. Manufacturers worldwide are adopting new and advanced technologies to improve industrial operations and efficiently manage them. They are utilizing advanced tools and high-end air compressors to generate high energy output and provide them to consumers. In addition, introduction of high-performance portable air compressors and application of oil-free and oil-filled lubricated compressors provide enormous opportunities for market to expand and generate high revenues during the forecast period.
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Some Key Highlights From the Report
• On February 15, 2022, M.R. Organization, which is based in Ahmedabad, Gujarat, India announced to acquire StandardAir, a U.K.-based supplier of air compressor parts. Both companies supply air compressor parts to all major companies worldwide. While M.R. Organization caters across 72 countries, whereas StandardAir caters to all major air compressor brands across Europe and the Middle East. In addition, this acquisition enhances M.R. Organization’s presence in entire Europe, which is one of the crucial markets for expansion of the company. • The centrifugal air compressors segment accounted for largest revenue share in 2021. Increasing applications in oil refineries, paper & pulp industry, and chemical & other processing plants is one of the crucial factors driving growth of this segment. Compressed air is supplied by centrifugal air compressors to various manufacturing processes in industrial plants. These compressors are used in all types of industrial manufacturing, but they are most commonly found in large-scale manufacturing plants and refineries. They have fewer parts, require less maintenance, and have higher capacities per square foot, making them a reliable source of compressed air that is free of oil. • The oil-free technology segment accounted for largest revenue share in 2021. Compressed air is utilized in various industrial operations, therefore presence of a single drop of oil can cause serious damage to equipment as well as overall industrial operations. Moreover, governments in various countries have developed stringent industrial emission norms, which in turn, have boosted adoption of oil-free technology-enabled compressors among industry professionals. These compressor systems can achieve ISO 8573-1 Class Zero-emission norms. Moreover, by employing technologies such as scroll, water injected screw, 2 stages dry screw, and others, these compressors act as the perfect solution for industries that aim to achieve zero emissions. • The air-cooled air compressors segment accounted for largest revenue share in 2021. In air-cooled air compressors, water cooler present requires minimum maintenance, which in turn, significantly reduces chances of equipment downtime. Additionally, it requires minimum investment for installation and incurs less maintenance cost as compared to its alternatives. • The food & beverages segment accounted for largest revenue share in 2021. In the food & beverages industry, compressed air is utilized in a wide variety of applications. For instance, in the beverage industry, compressed air is utilized during fermentation when producing wine or beer and aids in increasing oxygen levels that help the bacteria to easily complete fermentation process. In addition, compressed air produces ozone gas that is utilized to sterilize water. Ozone acts as an oxidizing agent, thereby removes undesirable compounds, such as iron or magnesium, from water. • The Asia Pacific market accounted for largest revenue share in 2021. Increasing investments in coal mining activities and oil refineries is one of the crucial factors driving market growth. China is expected to lead regional demand due to presence of prominent market participants such as DHH Screw Compressor Company, Denair Energy Saving Technology (Shanghai) PLC, and many others. In addition, rising support from government to promote more energy-efficient technologies has boosted growth of the market. • Companies profiled in the global market report include Siemens Energy, General Electric, Atlas Copco, Ingersoll Rand, BOGE Compressed Air Systems GmbH & Co. KG, Doosan Portable Power, Fusheng Co., Ltd., Gardner Denver, Sulzer Ltd., and Hanbell Precise Machinery Co., Ltd.
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For the purpose of this report, Reports and Data has segmented the industrial air compressor market based on type, lubrication method, cooling method, end-use, and region:
Type Outlook (Revenue, USD Billion; 2019–2030) • Rotary Air Compressors • Reciprocating Air Compressors • Centrifugal Air Compressors
Lubrication Method Outlook (Revenue, USD Billion; 2019–2030) • Oil-Lubrication • Oil-Free Technology • Pressure Lubricated
Cooling Method Outlook (Revenue, USD Billion; 2019–2030) • Air-Cooled Air Compressors • Water-Cooled Air Compressors
End-use Outlook (Revenue, USD Billion; 2019–2030) • Oil & Gas • Food & Beverages • Manufacturing • Healthcare • Power Generation • Construction & Mining • Others
Regional Outlook (Revenue, USD Billion; 2019–2030) • North America o U.S. o Canada o Mexico • Europe o Germany o U.K. o France o Italy o Spain o Sweden o BENELUX o Rest of Europe • Asia-Pacific o China o India o Japan o South Korea o Rest of APAC • Latin America o Brazil o Rest of LATAM • Middle East & Africa o Saudi Arabia o UAE o South Africa o Israel o Rest of MEA
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