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Air Compressed Equipment Market Size

Report ID: GMI7900
Published Date: Jan 2024
Report Format: PDF

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Air Compressed Equipment Market Size

Air Compressed Equipment Market was valued at USD 18 billion in 2023 and is estimated to register over 5.5% CAGR from 2024 to 2032. The growth is attributed to the growing industrialization around the globe, which is fueling the demand for compressed air solutions across a range of industries including automation, construction, and manufacturing. Pneumatic tools, control systems & machinery are powered by compressed air and used in a variety of industrial processes. The increasing need for dependable and effective compressed air solutions to support industrial operations is further spurring market growth.

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An air-compressed equipment utilizes compressed air to power various tools and machinery. It includes air compressors that generate pressurized air, which is stored in tanks or released through hoses to operate pneumatic tools such as drills, sanders, and impact wrenches. These systems are versatile, efficient, and widely used across industries for their reliability & ability to perform various tasks.

Air Compressed Equipment Market Report Attributes
Report Attribute	Details
Base Year:	2023
Air Compressed Equipment Market Size in 2023:	USD 18 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	5.5%
2032 Value Projection:	USD 28 Billion
Historical Data for:	2018 - 2023
No. of Pages:	200
Tables, Charts & Figures:	239
Segments covered:	Component, End-use Industry and Region
Growth Drivers:	Increasing industrialization Surging energy exploration Expanding healthcare applications Growing use in electronics manufacturing Growing environmental awareness
Pitfalls & Challenges:	Energy-intensive operations Environmental impacts

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High energy consumption during the compression process contributes to elevated operational costs, impacting the overall economic feasibility for businesses. As industries increasingly prioritize energy efficiency and sustainability, the substantial power requirements of air compressed equipment become a deterrent. This challenge prompts businesses to explore alternative solutions, hindering the wide adoption of air compressed equipment and emphasizing the need for more energy-efficient technologies in the market.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of air compressed equipment was worth USD 18 billion in 2023 and is anticipated to grow at a CAGR of over 5.5% between 2024 & 2032, driven by the growing industrialization around the globe, which is fueling the demand for compressed air solutions across a range of industries.

The manufacturing end-use segment held a market share of over 40% in 2023 and is poised to grow steadily through 2032, driven by the growing need for automation and pneumatic tools in manufacturing processes.

North America region dominated 38% share of the air compressed equipment industry in 2023 and is expected to grow at a lucrative pace over 2023-2032, driven by the increasing industrial activities, infrastructure development, and the demand for energy-efficient solutions.

Atlas Copco, Ingersoll Rand, Kaeser Kompressoren SE, Quincy Compressor, Campbell Hausfeld, Elgi Equipments, Powerex Inc. are some of the major industry contenders.