Air Compressor Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Portable, Stationary), By Technology (Reciprocating, Rotary, Centrifugal) By Lubrication Method (Oiled, Oil-free), By Application (Food & Beverage, Oil & Gas, Manufacturing, Medical, Power Generation, Others) and Region  

Air Compressor Market size was valued at US$ 34,324.8 million in 2023 and is poised to grow at a CAGR of 4.2% from 2024-2030. An Air compressor is a tool used to transform power into potential energy stored in the form of pressured air using an electric motor or diesel or gasoline powered engines. The air compressor and industrial pumps performs same functions where the pumps focus on only liquids such as water and oil whereas air compressor focuses on air & gas pressurization. The air compressors are used by various applications like powering pneumatic machinery in industrial operation, running laundry pressures in dry cleansers. Ventilating silos in agriculture, spraying crops, various processes in oil and gas pumps industry, food & beverages and other industries. The stationary air compressor held a significant market in 2021 due to the increase in usage of air compressors in automotive industry and many other heavy engineering industries.

The centrifugal segment is expected to have a significant growth in the forecasted years due to its widespread use in challenging applications like oil recovery, gas evacuation, gas boosting, and their reduced costs compared to the other systems. The air compression market is expected to grow in the forecasted years due to increasing use of air compressors in various applications due to their variable speed control, its ability to retrofit existing systems, low maintenance cost. The increase in demand of air compressor due to increasing air quality concerns because of increase in number of gas compressor stations, to measure the impact of air and gas compressors. In addition, the growing investments in the non-oil-based projects is expected to drive the growth of air compressor market. The cost of installing the new modern rotary screw compressor is high, and these compressors require often servicing and maintenance and has needs to maintain minimal everyday usage these factors are expected to hinder the market growth in the forecasted years.

Air Compressor Market Key Developments:

• In June 2021, Bosch signed agreement with Volvo Group AB & Daimler Truck Ag to supply electric air compressor for the development of hydrogen fuel cell systems.
• In October 2021, Ingersoll Rand acquired Air Dimensions Inc. for an all-cash purchase of US$ 70.5 million. Air Dimensions designs, manufactures and sells vacuum diaphragm pumps primarily for environmental applications in high-growth, sustainable end markets, such as emission monitoring, biogas, utility, and chemical processes.
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• In August 2019, Atlas Copco launched GA 75-110 VSD+, G 15-22, GA 15-22, and other two innovative air compressors.