Air Compressor Market to Exhibit a CAGR of 6.3% from 2024 to 2032; Atlas Copco Acquired Associated Compressor Engineers Ltd to Gain a Competitive Edge

The global air compressor market size stood at USD 17.22 billion in 2023. The market value is slated to rise from USD 18.04 billion in 2024 to USD 29.31 billion by 2032 at a CAGR of 6.3% during 2024-2032. Fortune Business Insights™ presents this information in its report titled “Air Compressor Market Size, Share & Industry Analysis, By Mode of Operation (Rotary, Centrifugal, and Reciprocating), By Product Type (Stationary and Portable), By Lubrication (Oil Filled and Oil Free), By Application (Manufacturing, Oil & Gas, Energy & Power, Electronics and Semiconductor, Healthcare, Food and Beverages, and Others (Aerospace)), Regional Forecast, 2024-2032”

The operation of air compressors involves three basic modes, which include reciprocating, rotary, and centrifugal. The industry is witnessing the dominance of rotary compressors, which differ by design and deploy a screw-like mechanism for air compression owing to higher efficiency and easy maintenance. The usage of connected and smart compressors is bolstering the market expansion. Real-time monitoring of major operational parameters, including temperature, energy consumption, and pressure is allowed by smart air compressors.

The market growth observed a slight reduction during the COVID-19 pandemic, despite this, it rebounded in 2021 driven by a rise in demand from the medical sector.

Atlas Copco Closed the Acquisition of Associated Compressor Engineers Ltd to Achieve a Competitive Advantage

In June 2022, Atlas Copco completed the acquisition of the U.K.-based company Associated Compressor Engineers Ltd. The company has expertise in installations, service, and sales of compressed air systems.

Upgradation Pertaining to the Technology for Air System Management and Control to Stimulate the Market Expansion

The air compressor industry is witnessing expansion and effective regulation of airflow is necessary. Solutions are provided by several companies in this sector to aid end users in enhancing operations and handling complex industrial issues.

Despite such opportunities for air compressor market growth, the increasing part costs coupled with air leakage may lead to losses in the economy, impeding its expansion.

Leading Companies Focus on New Product Launches to Sustain Their Industry Leadership

Few major players lead the market share, holding nearly 20%-25%. They are constantly implementing expansion strategies. Partnerships, joint ventures, and acquisitions are being leveraged by top companies to outshine the competition. Several companies are focusing on launch of new products to maintain their dominance in the market.

List of Key Players Profiled:

• ELGi Equipments Limited (India)
• Atlas Copco AB (Sweden)
• Sulzer Ltd. (Switzerland)
• Hitachi Ltd. (Japan)
• Ingersoll Rand (U.S.)
• Campbell Hausfeld (U.S.)
• Mitsubishi Heavy Industries Ltd. (Japan)
• Doosan Infracore Portable Power (South Korea)
• Siemens AG (Germany)
• EBARA CORPORATION (Japan)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/air-compressor-market-101672

Key Industry Development

• May 2022: Elgi Equipment announced the launch of dependable, high-performance, and energy-efficient electric and diesel portable air compressors at EXCON 2022. The diesel-powered PG 575 – 225 and electric-powered PG 110E -13.5 machines were released at the elgi outdoor stand OD 81.

Further Report Findings

• Asia Pacific secures the largest air compressor market share on account of quick infrastructure development, industrialization, and growing manufacturing sectors in nations, including India, China, and Southeast Asia. The increasing product demand in the electronics and healthcare sectors is further boosting the market growth.
• With respect to application, energy & power segment registers the largest share fueled by the product’s criticality for the maintenance and operations of wind turbines. Wind farms and power plants (both renewable and conventional) are few industrial applications of the product.

Table of Segmentation