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Air Compressed Equipment Market Trends

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

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Air Compressed Equipment Market Trends

The market for air-compressed equipment is influenced by a number of trends. The market is witnessing the increased integration of Industry 4.0 technologies including the use of IoT for real-time monitoring and predictive maintenance in smart compressors. Moreover, the continuous focus on energy efficiency is resulting in the development of variable-speed drives and sophisticated control systems. The growing importance of sustainable practices is prompting manufacturers to develop environmentally friendly refrigeration solutions and oil-free compressors. For flexibility and space optimization, compact & modular designs are gaining popularity.

Additionally, a shift toward rental services over ownership is observed, providing cost-effective solutions for businesses. Manufacturers are improving compressed air system usability by emphasizing remote accessibility and user-friendly interfaces. All things considered, these patterns demonstrate the industry's dedication to effectiveness, durability, and flexibility in response to changing consumer needs & environmental concerns.

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.