1 Global Industrial Air Compressor Market Insight Analysis
The global industrial air compressor market is valued at USD 13,040.53 million in 2024, growing at a CAGR of 5.52% from 2024 to 2033.
An industrial air compressor is a device that uses an electric motor or a diesel or gasoline engine to convert power into potential energy stored in pressurized air. Although they are functionally similar to industrial pumps, compressors are used exclusively for air and gas pressurization, while pumps are used exclusively for liquids such as water and oil.
Industrial air compressors are designed for a variety of applications, including spraying crops and ventilating silos in agricultural facilities, operating pneumatic machinery in manufacturing operations, and operating laundry presses in dry cleaners. They can also be used in other operations in the food and beverage and oil and gas industries.
Figure Global Industrial Air Compressor Market Size (M USD) and CAGR (2024-2033)
2 Industrial Air Compressor Market Growth Drivers and Restraints
With the continuous development of the global economy and technology, industrial air compressors are increasingly used in many industries. In the manufacturing industry, it is used to drive various types of pneumatic machinery, instrument control and automation equipment; in the oil and gas industry, it can be used in oil processing, pipeline transportation and other links; in the food and beverage industry, it undertakes tasks such as cleaning bottles and cans and promoting production. The continuous development of these industries has led to a continuous increase in demand for industrial air compressors, becoming a key driving force for market growth.
Compared with electric and hydraulic power, industrial air compressors have advantages such as flexibility, safety and low maintenance costs. Its fewer moving parts reduce the probability of failure, maintenance requirements and costs. These advantages have enabled air compressors to gradually replace electric and hydraulic products in some fields, further expanding market demand.
The application of the Internet of Things in the field of industrial air compressors has injected new vitality into market growth. With the help of the Internet of Things, the operation and after-sales service of compressors are more convenient and efficient. Enterprises can monitor the operating status of equipment in real time, realize remote operation and fault warning, and change passive after-sales to active maintenance. This not only improves the operating efficiency of enterprises, but also reduces operating, logistics and production costs, increases the sales of core components, and promotes the development of the market.
In some countries or regions, such as China, the air compressor industry has overcapacity and severe market homogeneity competition. The sales of complete machines cater to the low-price market excessively, resulting in meager profits, and enterprises lack sufficient funds to invest in new product research and development and new technology innovation. The reduced profits also greatly reduce the after-sales service enjoyed by customers after purchasing the products, forming a vicious circle and restricting the healthy development of the market.
At present, the energy-saving services of air compressor systems are mainly concentrated in the replacement of high-efficiency equipment, frequency conversion transformation and joint control, and the methods are relatively simple. Due to the unreasonable configuration of compressor units, mismatched operating loads, poor pipe network design and extensive terminal gas management, the existing system still has a lot of inefficiency and waste. Realizing system energy-saving management requires high technical and management levels of enterprises, and most manufacturers currently find it difficult to cope with this challenge.
The production of industrial air compressors relies on a variety of raw materials. The price fluctuations of metals such as steel and aluminum will increase production costs, and compressed air and noise pollution have also received more attention. At the same time, the product production process is complex, the precision requirements are high, and the difficulty of upgrading is great. These factors have restricted the development of the market to a certain extent. In addition, low-quality products flooded the market, affecting the market share of high-quality products and also dampening the enthusiasm of companies for research and development.
3 Technological Innovations in the Industrial Air Compressor Market
Digitalization, networking and informatization have become the development direction of industrial air compressors. The application of Internet of Things technology makes the operation and after-sales of compressors more convenient. Enterprises can use the Internet of Things to grasp the equipment operation data in real time, predict faults in advance, realize active maintenance, optimize business processes and reduce operating costs. For example, by collecting equipment operation parameters through sensors, using data analysis for fault diagnosis, and improving equipment reliability and operating efficiency.
Driven by energy conservation and emission reduction policies, environmental protection concepts have been deeply rooted in the hearts of the people, and downstream customers have higher and higher requirements for the energy efficiency of air compressors. High-end energy-saving air compressors have high technical barriers and relatively few manufacturers, but they have obvious advantages in energy consumption and efficiency, and gradually replace traditional low-end products. With the continuous emergence of energy-saving technologies, such as the use of new materials and optimized design to reduce energy consumption, and the promotion of energy-saving services such as contract energy management, energy-saving air compressors will become the mainstream of the market.
Large enterprises in the industry integrate resources through mergers and acquisitions to enhance their competitiveness. For example, Atlas Copco has acquired many companies. In 2021, it acquired compressor distributors and service providers in the United States, and also acquired compressed air distributors and service providers in the United Kingdom. Through these acquisitions, Atlas Copco has expanded its market coverage, improved its service network, and enhanced its market influence. Hitachi acquired Sullair Air Compressors for $1.245 billion, aiming to accelerate the global promotion of its products and expand the scale of its air compressor business by leveraging its global sales network, especially the network in the North American market.
Corporate mergers and acquisitions are also important means of strategic adjustment. Ingersoll Rand Inc. acquired Maximus Solutions and Seepex GmbH and incorporated them into the precision and scientific technology department to expand its business scope, optimize its business layout, and adapt to market changes. These mergers and acquisitions help companies share resources, complement each other’s strengths, and occupy a more advantageous position in the fierce market competition.
4 Global Industrial Air Compressor Market Size by Type
Positive Displacement compressors are the dominant segment in the global industrial air compressor market. In 2024, this type is expected to generate a revenue of USD 11,531.70 million, accounting for approximately 88.47% of the total market revenue. These compressors work by drawing air into a compression chamber and mechanically reducing the volume until a set pressure is reached.
They are widely used in various industries due to their efficiency and reliability. The market share of Positive Displacement compressors is attributed to their versatility, as they can be found in applications ranging from small-scale manufacturing to large industrial plants. The growth of this segment is driven by the increasing demand for reliable and energy-efficient solutions in manufacturing, construction, and food & beverage industries.
Dynamic compressors, which include centrifugal and axial designs, are expected to generate a revenue of USD 1,508.84 million in 2024, representing about 11.53% of the total market revenue. These compressors are preferred for applications requiring higher horsepower and continuous operation. They operate at a constant pressure, making them suitable for large-scale industrial processes such as oil & gas, chemical processing, and power generation. The market share of Dynamic compressors is influenced by their ability to handle high volumes of air and their energy efficiency in large-scale applications. The growth of this segment is driven by the increasing demand for high-capacity compressors in industries that require continuous and reliable air supply.
Table Global Industrial Air Compressor Market Size by Type in 2024
Type | Market Size (M USD) 2024 |
|---|---|
Positive Displacement | 11531.70 |
Dynamic | 1508.84 |
5 Global Industrial Air Compressor Market Size by Application
The global industrial air compressor market has diverse applications, each contributing distinctively to the overall market revenue. In 2024, the manufacturing sector is projected to hold a significant share, its market revenue is expected to reach approximately $3436.39 million. Manufacturing encompasses a wide range of industries, such as automotive, electronics, and machinery production. Industrial air compressors are crucial in these sectors, powering various pneumatic tools and equipment, and facilitating automation processes. For instance, in automotive manufacturing, air compressors are used for tasks like painting, operating robotic arms, and powering assembly line tools. This widespread usage drives the high revenue in the manufacturing application segment.
The oil & gas industry is another major application area. In 2024, its market revenue is forecasted to be around $2611.47 million. In the oil & gas sector, industrial air compressors play vital roles in petroleum processing, petrochemical synthesis, pipeline transportation, and gas injection. They are used in fracturing oil wells to enhance oil extraction and in maintaining the pressure in pipelines for efficient transportation. The continuous exploration and production activities in the oil & gas industry ensure a stable demand for air compressors, contributing to its substantial market revenue.
The food & beverages industry also shows a notable market revenue. In 2024, it is estimated to be about $1951.22 million. Air compressors are used in food packaging, processing, and transportation. They help in cleaning bottles and cans, ensuring hygiene in the food production process, and powering machinery used in food manufacturing. With the growing demand for packaged and processed foods globally, the need for air compressors in this industry is expected to increase steadily.
The construction industry, with an expected market revenue of around $1891.97 million in 2024, relies on industrial air compressors for various on – site tasks. Compressors power construction equipment like pneumatic drills, impact wrenches, and nail guns. The increasing construction activities worldwide, especially in emerging economies where infrastructure development is booming, drive the demand for air compressors in the construction application.
The chemicals & petrochemicals industry is projected to have a market revenue of approximately $1084.27 million in 2024. Air compressors are used to drive chemical equipment for gas transportation and in processes such as nitrogen preparation and hazardous substance treatment. The growth of this industry, along with the need for efficient and reliable gas handling systems, contributes to the market revenue of air compressors in this application.
Table Global Industrial Air Compressor Market Size by Application in 2024
Application | Market Size (M USD) 2024 |
|---|---|
Manufacturing | 3436.39 |
Oil & Gas | 2611.47 |
Food & Beverages | 1951.22 |
Construction | 1891.97 |
Chemicals & Petrochemicals | 1084.27 |
Others | 2065.22 |
6 Global Industrial Air Compressor Market Size by Region
The demand for industrial air compressors in North America in 2024 is expected to reach 778.0 thousand units. The region, consisting mainly of the United States and Canada, has a highly developed industrial base. The United States, in particular, has a large manufacturing, oil & gas, and construction sectors.
For example, in the manufacturing industry, advanced automotive and aerospace manufacturing plants require a significant number of air compressors to power their precision machinery and automated production lines. Canada’s resource – based industries, such as oil sands extraction in Alberta, also contribute to the demand for air compressors in the oil & gas application. However, the North American market also faces challenges like high labor costs, which can influence the overall demand and pricing of air compressors.
In 2024, the demand in Europe is projected to be 1014.0 thousand units. Europe has a well – established industrial landscape with strong manufacturing, chemicals, and construction sectors. Countries like Germany, Italy, and France are major players in the manufacturing industry, producing high – quality automobiles, machinery, and consumer goods.
These industries rely on air compressors for various applications, from powering pneumatic tools in factories to providing compressed air for chemical processes. Additionally, the ongoing infrastructure projects in Europe, such as the construction of new transportation networks and renewable energy facilities, drive the demand for air compressors in the construction and energy sectors. However, strict environmental regulations in Europe may pose challenges for some air compressor manufacturers, as they need to ensure their products meet high – level environmental standards.
The Chinese market is expected to have a demand of 943.6 thousand units in 2024. China has been the world’s largest manufacturing country and a major player in global trade. The rapid industrialization and urbanization in China have led to a booming manufacturing industry, which is a major consumer of industrial air compressors.
Factories across the country use air compressors in a wide range of applications, from textile manufacturing to electronics production. The construction industry in China, with large – scale infrastructure projects like high – speed rail construction and urban real – estate development, also contributes significantly to the demand. However, the Chinese market is highly competitive, with a large number of domestic and international manufacturers vying for market share.
Japan’s demand for industrial air compressors in 2024 is forecasted to be 323.4 thousand units. Japan has a highly developed and technologically advanced economy, with a strong focus on manufacturing high – quality products. Industries such as automotive, electronics, and robotics rely on air compressors for precise and efficient operations. For example, in the robotics industry, air compressors are used to power robotic actuators, enabling smooth and accurate movements. However, Japan’s aging population and limited domestic market size may somewhat limit the growth rate of the air compressor market.
The demand in the Middle East and Africa region is expected to be 252.6 thousand units in 2024. The Middle East, with its vast oil & gas reserves, has a significant demand for air compressors in the oil & gas industry. Countries like Saudi Arabia and the UAE are major producers and exporters of oil, and air compressors are essential for their oil production, refining, and pipeline transportation processes. In Africa, the growing construction and manufacturing sectors, especially in countries like Nigeria and South Africa, are driving the demand for air compressors. However, the region also faces challenges such as political instability in some areas, which can impact industrial development and the demand for air compressors.
South America is projected to have a demand of 205.2 thousand units in 2024. Brazil, the largest economy in the region, has a diverse industrial base, including manufacturing, agriculture, and mining. The manufacturing and mining sectors in Brazil use air compressors for various applications, such as powering mining equipment and industrial machinery. However, the economic instability and slow – growth trends in some South American countries may affect the overall demand for air compressors in the region.
India’s demand for industrial air compressors in 2024 is estimated to be 190.3 thousand units. India’s economy has been growing steadily, with a burgeoning manufacturing and construction industry. The ‘Make in India’ initiative has further promoted domestic manufacturing, leading to an increased demand for air compressors. The construction of smart cities and infrastructure development projects across India are major drivers for the air compressor market. However, issues like a large number of small – scale manufacturers with varying product quality and a lack of skilled labor in some areas may pose challenges to the market’s growth.
South Korea is expected to have a demand of 147.4 thousand units in 2024. The country has a highly developed electronics, automotive, and shipbuilding industry. These industries require high – performance air compressors for their advanced manufacturing processes. For example, in semiconductor manufacturing, air compressors are used to maintain a clean and controlled environment. South Korea’s strong focus on innovation and high – tech manufacturing ensures a stable demand for air compressors.
The demand in Southeast Asia in 2024 is forecasted to be 192.1 thousand units. The region has been experiencing rapid economic growth, with countries like Indonesia, Malaysia, and Vietnam emerging as manufacturing hubs. The growth of the manufacturing and construction industries in Southeast Asia, driven by foreign investment and domestic consumption, is fueling the demand for industrial air compressors. However, the region also faces competition from other low – cost manufacturing regions and infrastructure bottlenecks in some areas, which may impact the market’s development.
Figure Global Industrial Air Compressor Demand (1000 Units) by Region in 2024
7 Global Industrial Air Compressor Market Analysis by Major Players
7.1 Atlas Copco
Company Introduction and Business Overview:
Atlas Copco is a Swedish multinational industrial company founded in 1873, headquartered in Nacka, Sweden. It is a global leader in the production of industrial tools and equipment, with a strong focus on air compressors.
Atlas Copco operates in four main areas: Compressor Technology, Vacuum Technology, Power Technology, and Industrial Technology. The company is renowned for its innovative and energy-efficient solutions, catering to a wide range of industries including manufacturing, construction, and automotive.
Products:
Atlas Copco offers a comprehensive range of industrial air compressors, including centrifugal oil-free air compressors (ZH & ZH+ series), which are designed for high efficiency and reliability. These compressors are suitable for applications requiring 2 to 13 bar pressure.
Market Performance in 2021:
In 2021, Atlas Copco generated a revenue of USD 2,503.68 million, with a gross margin of 36.11%.
7.2 Ingersoll Rand Inc.
Company Introduction and Business Overview:
Ingersoll Rand Inc. is an American multinational company founded in 1859, headquartered in Milwaukee, Wisconsin. It is a leading provider of industrial equipment and technologies, operating through a family of brands.
The company operates in three main groups: The Industrials Group, Energy Group, and Medical Group. Ingersoll Rand is known for its advanced air compressor technologies and solutions, catering to diverse industries such as manufacturing, oil & gas, and construction.
Products:
Ingersoll Rand offers a variety of air compressors, including the R Series 45-75 kW oil-flooded rotary screw compressors and the MSG® TURBO-AIR® COOLED 2000 centrifugal air compressor. These products are designed for high efficiency and reliability in demanding industrial applications.
Market Performance in 2021:
In 2021, Ingersoll Rand Inc. achieved a revenue of USD 1,512.52 million, with a gross margin of 38.41%.
7.3 Kaeser Kompressoren
Company Introduction and Business Overview:
Kaeser Kompressoren is a German company founded in 1919, headquartered in Coburg, Germany. It is a leading manufacturer of compressed air and vacuum products, with a global presence.
Kaeser Kompressoren specializes in the production of rotary screw compressors, oil-less reciprocating compressors, and other related products. The company is known for its innovative and energy-efficient solutions, providing service, rentals, and consulting services to a wide range of industries.
Products:
Kaeser Kompressoren offers oil-free compression rotary screw compressors with air cooling, designed for high reliability and efficiency in applications requiring up to 355 kW power. These compressors are suitable for industries where high-quality compressed air is critical.
Market Performance in 2021:
In 2021, Kaeser Kompressoren generated a revenue of USD 1,080.05 million, with a gross margin of 31.74%.