Air Compressor Market to Reach Valuation of USD 38.9 Billion by 2028 - Growing Demand for Automotive Components, Expanding Oil Exploration and Mining Operations, and Developments in the Energy and Power Generation Sectors are all Expected to Help the Business Thrive

From the period of 2022 to 2028, the Global Air Compressor Market is expected to reach USD 38.9 Billion in terms of revenue, growing at a Compound Annual Growth Rate (CAGR) of 3.00%.

An Air Compressor is a machine that transfers potential energy from an electric motor, diesel engine, or gasoline engine into compressed air. This is performed by compressing and releasing the air inside in quick spurts. Two of the most common Air Compressor technologies are negative displacement and positive displacement. Rapid development in emerging economies is driving the Air Compressor industry. Energy-efficient Air Compressor models, which are also available in portable variants, have been welcomed by industries all over the world. A wide spectrum of consumers from diverse industries have embraced the new technology because it offers a significant decrease in maintenance expenses.

Key Highlights from the Report

• The market is divided into three types of products: reciprocating/piston, rotary/screw, and centrifugal. Due to benefits such as decreased installation and maintenance costs and higher efficiency, rotary Air Compressor demand is expected to increase in 2021. Manufacturers have spent a lot of time researching rotary compressors with higher capacities and lower energy consumption. This section is divided further into screw, scroll, and various rotating shapes such as vain, lobe, and so on. Rotary screw air compressors will have the fastest growth rate of the three due to their low starting cost, reliability, increased heat resistance, and easy and low-cost maintenance. In terms of flow surging, continuous operation, and capacity, screw compressors have exceeded piston compressors. The scroll compressor business will benefit when compared to screw compressors.

• Based on lubrication, the market has been segmented into oil-filled and oil-free divisions. Oil-filled air compressors are commonly utilised for commercial applications in the energy, manufacturing, and chemical industries. When compared to oil-free compressors, they are more durable and quieter. The oil-free category is expected to develop at the quickest rate over the projection period, owing to the implementation of new legislation to decrease emissions and governments' greater focus on environmental safety. Furthermore, factors such as increased industrialization and the growth of the manufacturing, food processing, and semiconductor industries are pushing rising demand for air compressors.

• Asia Pacific is the fastest regional segment in terms of growth. The increased atomization and mechanization of production facilities in developing countries across the region is driving the market's expansion. Manufacturers are also focusing their efforts on the construction of manufacturing facilities and the establishment of well-established supply chain activities in India and Japan, which are attractive markets. Furthermore, most consumers from various end-use sectors have recently expressed an interest in investing in the Asia Pacific region's expanding economies, resulting in the expansion of manufacturing clusters in those nations and increased product sales for the manufacturing industry.

Market Dynamics:

Modern System's Innovative Manufacturing Infrastructure to Drive Market Growth

Manufacturers all across the world are striving to create technologically advanced, atomized, and technology-integrated manufacturing facilities. High-end compressors are used by the producers to deliver high energy throughput and increased output for the consumers. Portable air compressors with excellent performance will be introduced as portable equipment at the plants. The use of oil-free and oil-filled compressors in accordance with industry requirements will also open up new growth opportunities for the market. As a result, the Air Compressor Market is likely to develop throughout the forecast period.

Drilling Procedures Require a Highly Durable Compressor to Boost Market Growth

The demand for crude oil and renewable resources has expanded significantly as a result of an expansion in the usage of machinery and equipment across multiple end-use industries and significant development in the industrial sector. Harnessing oil using efficient equipment and innovative technologies to meet global demands has become increasingly important. As a result, the application of items that can endure harsh environments is expected to drive global demand for these products.