Industrial Air Compressor Market size is set to surpass USD 7 Billion by the end of 2035, growing at a CAGR of 8% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of industrial air compressors was around USD 3 Billion. The growth of the market can be attributed to the growing demand for HVAC systems. Air conditioning systems in large commercial buildings are powered by industrial air compressors, which chill and remove moisture from the indoor air. According to the International Energy Agency, approximately 2 billion air conditioning systems are now in use worldwide.
In addition to these, factors considered to promote the growth of the industrial air compressor market include the surging need for energy-efficient air compressors–The alarming rise in the levels of greenhouse gases, and the need for energy-efficient air compressors has increased. Carbon dioxide, methane, and nitrous oxide concentrations in 2021 were 415.7 parts per million (ppm), 1908 parts per billion (ppb), and 334.5 parts per billion (ppb), respectively. All three gases reached a new level of high in 2021 in the last 40 years.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~8% |
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Base Year Market Size (2022) |
~ USD 3 Billion |
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Forecast Year Market Size (2035) |
~ USD 7 Billion |
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Regional Scope |
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Power (Up to 15 kW, 16-75kW, 75-500kW, More than 500kW)
The 75-500kW segment is expected to account for roughly 40% of the industrial air compressor market by 2035. The growth of the segment can be attributed to the increasing application of industrial air compressors with power of 75kW to 500kW in several industries, including water and wastewater treatment plants, power generation, and the chemical industry. The rising need for residential and industrial wastewater treatment in the world is expected to drive the segment’s growth. According to the latest research conducted by scientists at Utrecht University and the United Nations University, around half of the world's wastewater is treated.
Product Type (Dynamic, Positive Displacement)
The positive displacement sector is predicted to account for around 60% of the market by 2035. The versatility of the positive displacement compressor is a significant factor in the growth of the segment. It can work in both oil-free and lubricated conditions. Moreover, it can be divided into rotary and reciprocation compressors at the same time. Furthermore, it is expected the segment will garner a huge investment that will further aid its growth. The positive displacement finds its application majorly in the construction industry, therefore rising constructional activities are to boost the segment’s expansion.
Our in-depth analysis of the global market includes the following segments:
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Product Type |
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Lubrication |
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Technology |
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Power |
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Application |
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APAC Market Forecast
The industrial air compressor market in Asia Pacific is expected to be the largest, with a share of approximately 37% by the end of 2035. The growth of the market can be attributed majorly to the increasing investment in mining projects. The Indian government set up a District Mineral Foundation that encompassed 622 districts. As of 2022, the foundation has garnered an investment of USD 995 million for carrying out mining activities. On the other hand, the rapidly growing urbanization in the world is also expected to drive market growth in the region.
North American Market Statistics
The industrial air compressor market in North America is expected to be the second largest, with a share of around 26% by the end of 2035. The growth of the market can be attributed majorly to the growing demand for oil and gas. The EIA predicts that crude oil production in the United States is expected to rise by 720,000 barrels per day (bpd) in 2023, exceeding a previous prediction of 640,000 bpd. The oil and gas industry is one of the largest industries in North America, it utilizes air compressors for offshore drilling, extraction, and processing operations.
Author Credits: Rushikesh, Richa Gupta
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