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Industrial Air Compressor Market Size
- Report ID: GMI4474
- Published Date: Apr 2023
- Report Format: PDF
Industrial Air Compressor Market Size
Industrial Air Compressor Market size surpassed USD 13 billion in 2022 and is anticipated to expand at 7% CAGR from 2023 to 2032.
Rapid industrialization across the Asia Pacific is projected to propel the demand for industrial air compressors. Countries such as China, India, and Japan contribute to substantial manufacturing output with large-scale industrial activities that steer economic growth.
The centrifugal industrial air compressor market demand is increasing in various verticals, such as oil and gas, chemical and petrochemical among others due to their high efficiency and reliability. Several governments are introducing favorable policies in line with Industry 4.0 to gain a lead in the ongoing technological and economical race. For instance, the Government of India has dedicated substantial resources along with national policies to empower the nation’s industrial sector. Similar initiatives encouraging large-scale industrial activities showcase lucrative scope for a widespread necessity of industrial air compressors.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Industrial Air Compressor Market Size in 2022: | USD 13,000 USD Million |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 7.3% |
| 2032 Value Projection: | USD 26,100 USD Million |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 390 |
| Tables, Charts & Figures: | 785 |
| Segments covered: | Product, Technology, Lubrication, Power Capacity, Application, Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Improvements in technology, particularly in the areas of compressor design and control systems, are likely to continue to drive growth in the oil-filled lubrication air compressor market. Moreover, new technologies such as variable speed drives, advanced control systems, and more efficient compressor designs are already making these air compressors more energy-efficient and reliable. Changes in industrial regulations, particularly those related to environmental protection and worker safety, may also influence the product demand.
Strict regulations regarding the use of air compressors may impede the growth of industrial air compressor market. Increasing focus on climate change has compelled government bodies to release stringent product guidelines. However, facilities using air compressors are required to adhere to Environmental Protection Agency (EPA) regulations. Air compressors produce an oil-water blend condensate which if not disposed of properly could lead to environmental degradation.
Industrial Air Compressor Market Scope
