Air Compressor Market to reach $100 Bn by 2032

Air Compressor Market size is anticipated to cross USD 100 billion by 2032, according to the latest research report by Global Market Insights Inc.
 

The increasing sales of multiple household appliances will drive the industry growth from 2023 to 2032. During the first half of 2021, the large household appliances sector in China grew by 38%, in India by 51%, and in Western Europe by 32%. Moreover, almost 70% of the world's refrigeration production was accounted for by the Asia Pacific region in 2020. The accelerating urbanization, strong GDP growth rates, and improving economic conditions in the region will support the rise in sales of household appliances, driving the market development in the coming years.
 

Rise in construction and mining activities

The portable air compressor market share is predicted to cross USD 5.75 billion by 2032. The rising offshore oil rig numbers and increasing oil exploration and mining activities require portable compressors. The growing construction activities in developing nations are influencing the adoption of air compressors. Multiple smart city projects and infrastructure development activities across the globe are anticipated to influence business expansion.
 

Launch of new reciprocating air compressors

The reciprocating air compressor industry revenue is anticipated to exceed USD 48 billion by 2032. Reciprocal compressors with one stage are mostly used in home appliances as well as in small-scale industries. Compressors with two stages, which have more power, are employed in large-scale industrial settings. In 2022, ELGi introduced two ranges of air compressors, oil-free, and reciprocating compressors. Such developments are said to influence the product demand.
 

Browse key industry insights spread across 420 pages with 411 market data tables & 47 figures & charts from the report, “Air Compressor Market Size By Product (Portable, Stationary), By Technology (Rotary, Reciprocating, Centrifugal), By Lubrication (Oil Free, Oil Filled), By Application & Forecast 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/air-compressor-market
 

Growing requirement of air compressors in the food & beverage sector

The air compressor industry size from the food & beverage segment is forecasted to register around 5% CAGR during 2023-2032. These compressors are used in the food and beverage manufacturing sector for a number of production jobs because they are essential for maintaining operations that require clean, consistent compressed air.
 

Increasing home appliance manufacturing in APAC

The Asia Pacific air compressor market is projected to witness 4% growth through 2032 due to expanding manufacturing and sales of home appliances throughout the region. For instance, LG Electronics India predicts a 25-30% increase in the home appliances business. The company has also invested nearly USD 24 million to expand its plant in Pune, India to increase its refrigerator manufacturing capacity.
 

Competitive sphere of the global air compressor industry

GMCC, Doosan Portable Power, Bitzer, Sullair, LLC, Kaeser Kompressoren SE, Gardner Denver, Inc., Ingersoll-Rand Plc., Rolair Systems, Atlas Copco, and Emerson Climate Technologies, Inc., are some of the leading companies in the air compressor business scenario. Companies are working on the development of the market using strategic initiatives.