The Air Compressor Market is to Touch $20.9 Billion by 2030; Expansion of the Industrial Sector and Other Practices and the Growing Demand from Construction Projects Propels Market Growth.

Market Overview:

The Air Compressor Market size is estimated to reach $20.9 billion by 2030, growing at a CAGR of 4.28% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Air Compressor Market Size, Share & Trends Analysis Report- By Type (Portable, Stationary), By Technology (Reciprocating, Rotary, Centrifugal), By Lubrication Type (Oil Lubricated, Oil-Free), By Application (Semiconductors and Electronics, Food and Beverage, Healthcare, Home Appliances, Energy, Oil and Gas, Manufacturing, Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”

Expansion of the industrial sector and other practices and the growing demand from construction projects are fueling the growth of the Air Compressor industry during the forecast period.

Asia-Pacific Dominated the Market in 2023:

The Asia-Pacific region stands as the largest market for air conditioners globally, commanding a significant share of 37% in 2023. This dominance is primarily driven by a combination of factors, including rapid population growth and economic diversification. As urbanization accelerates, the demand for residential and commercial air conditioning systems has surged, reflecting the region's expanding infrastructure and rising domestic expenditures. The diverse climate across countries like India, China, and Japan further necessitates efficient cooling solutions, making air conditioners essential for maintaining indoor comfort in both residential and commercial spaces. 

Air Compressor Market: Key Takeaways

Expansion of the Industrial Sector is Driving the Market Growth:

The expansion of the industrial sector, particularly in developing economies, is a significant driver for the air compressor market. Industries such as manufacturing, construction, and automotive heavily rely on compressed air for various applications, including powering pneumatic tools and operating machinery. This reliance creates a robust demand for air compressors. As countries like China, India, and Brazil experience rapid industrialization, the need for efficient compressed air systems grows. Ongoing infrastructure projects in the transportation and energy sectors further enhance this demand, contributing to the overall growth of the air compressor market.

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Market Growth Driven by a Growing Demand from Construction Projects:

The growing demand from construction projects is another key factor fueling the air compressor market. With significant investments in public infrastructure modernization globally, including roads, bridges, and urban transit systems, the need for construction machinery that utilizes compressed air is escalating. This trend is particularly evident post-pandemic as real estate markets rebound with increased activity in residential and commercial buildings. The continuous emphasis on green building practices also drives the uptake of energy-efficient air compressors in construction applications. 

Scope of the Report: 

Recent Developments:

• In April 2023, Atlas Copco revealed its acquisition of Asven S.R.L.'s compressed air business division, which specializes in the service, installation, and sales of compressed air systems. This strategic move aims to enhance Atlas Copco's offerings in the compressed air sector, leveraging Asven's expertise and customer base to expand its market presence.

Air Compressor Market: Competitive Landscape

key companies profiled in the Air Compressor Market are Atlas Copco, Ingersoll Rand, Sulzer Ltd., Mitsubishi Heavy Industries, Hitachi Global Air Power US, LLC., Elgi Equipment Ltd., Kirloskar Pneumatic Company Limited, Kobe Steel, Ltd., VMAC Global Technology Inc., Bauer Compressors, Inc., and others.

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