Powering Productivity: Exploring the Global Industrial Air Compressor Market

Future Market Insights, an ESOMAR-certified consulting firm, forecasts a growth of more than 4.6% CAGR through 2021 in its report on the industrial air compressor market. Due to soaring demand from various end-use industries like oil & gas, automotive & transportation, and food & beverage, the market is predicted to grow rapidly.

The demand for industrial air compressors within the oil and gas industry is anticipated to experience steady growth over the forecast period as a result of rapid industrialization and rising investment in mechanical equipment.

The growth of the industrial air compressor market will be supported by the expansion of the oil and gas industry across numerous regions, including the United States, India, China, and the GCC nations. Sales of rotary type industrial air compressors will be boosted throughout the forecast by demand from a variety of end-use industries, including the oil and gas industry.

Increasing investment for the expansion of oil & gas industry across the Middle East & Africa region is giving a boost to the demand of the industrial air compressor market. Extensive application of industrial air compressor in oil & gas pipelines across India, China, Russia and others is creating wide growth opportunities for the leading market players.

Increasing focus in the investment for brownfield & greenfield projects, coupled with enhanced research & development activities for sustainable solutions are providing ample of opportunities for the market players. As per FMI's analysis, the industrial air compressor market will surpass the valuation of US$ 26.7 billion in 2021.

"Increasing need for sustainable and economical solutions for power generation within various end-use sectors such as food & beverage, oil & gas, and transportation are creating opportunities for expansion within the market," says the FMI analyst.

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Key Takeaways from FMI's Industrial Air Compressor Market Study

• Rotary type industrial air compressors accounts for over 30% of global market share backed by the high demand from oil & gas and automotive & transportation sectors
• Double compression stage industrial air compressors are expected to witness higher demand due to their cost efficiency
• The capacity segment of 0 HP to 500 HP will be highly popular among the manufacturers owing to their increased application in various end-use sector
• In terms of end-use, oil & gas industry is poised to expand at over 4.9% CAGR over the forecast period
• Surging adoption of industrial air compressors in the U.S. oil & industry will spur the sales over the coming years
• Germany is accounted to hold the largest share of Europe's industrial air compressor market
• China's industrial air compressor sales are set to grow at 5.7% through 2021
• India is expected to register highest demand of industrial air compressor within South Asia through 2021

Competitive Landscape

According to FMI, the market is highly consolidated, in which leading players are accounted for over 75% of the market share. Key manufacturers are focusing on offering customized solutions to appropriate end-use industries. Product innovation and adoption of high-end technology are also the strategies adopted by some large-scale and mid-scale manufacturers.

Some of the key players profiled by Future Market Insights include:

• Atlas Copco
• Baker Hughes Company
• Bauer Kompressoren GmbH
• Burckhardt
• ELGi
• GE
• Hitachi Industrial Equipment Systems Co.
• Howden Group
• IHI Corporation
• Ingersoll Rand
• Kaeser Kompressoren
• Kaishan Compressor Co., Ltd.
• Kobelco Compressors
• MAN SE
• MITSUBISHI HEAVY INDUSTRIES, LTD.
• Quincy Compressor
• Siemens Energy AG
• Sullair LLC

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More Insights on the Global Industrial air compressor Market

In its latest report, FMI offers an unbiased analysis of the global industrial air compressor market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of:

By Technology

• Rotary
• Reciprocating
• Centrifugal
• Axial

By Capacity

• Up to 500 HP
• 500 - 2000 HP
• 2000 - 5000 HP
• 5000 - 12000 HP
• 12000 - 20000 HP
• Above 20000 HP

By Compression Stage

• Single Stage
• Double Stage
• Multistage

By Driver Type

• Electric
• Natural Gas
• Fuel Driven

End Use

• Automotive and Transportation
• Oil and Gas
• Power Generation
• Chemicals
• Food and Beverages
• Pharmaceuticals
• Mining and Metals
• Industrial Air Separation
• Other manufacturing

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East and Africa (MEA)