In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
IN THE NEWSJune 2021: Atlas Copco AB announced that it has acquired a UK company, Airflow Compressors & Pneumatics Ltd. for an undisclosed price. The acquired company would serve Atlas in the service division within the Compressor Technique Business Area.
June 2020: Sulzer Ltd announced that it has made an investment in Tamturbo Plc, a company that manufactures and develops oil-free industrial air compressor systems. The investment would help Sulzer to acquire 25% of the share of the company.
The United States (U.S.) air compressor market is estimated to garner a revenue of USD 7960.18 Million by the end of 2030, by growing at a CAGR of 4.90% over the forecast period, i.e., 2021 – 2030. Moreover, in the year 2020, the market in the country registered a value of USD 4933.65 Million. Moreover, the Canada air compressor market is estimated to garner a revenue of USD 828.50 Million by the end of 2030, by growing at a CAGR of 3.50% over the forecast period. In the year 2020, the market in the country registered a value of USD 587.34 Million. Additionally, the Mexico air compressor market is estimated to garner a revenue of USD 526.68 Million by the end of 2030, by growing at a CAGR of 4.10% over the forecast period. In the year 2020, the market in the country registered a value of USD 352.40 Million. The growth of the market in these countries can primarily be attributed to the rising demand for air compressors from different end-use industries, backed by its wide range of application for different purposes and the availability of different compressor sizes. Moreover, with the increasing demand for energy in these countries, and the shift towards energy efficient sources, the demand for air compressors is expected to increase significantly in the coming years, therefore driving the market growth exponentially.
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Moreover, with the advancements in mechanical equipment, the demand for air compressors which is energy efficient are on the rise, which in turn, is anticipated to drive the market growth. Besides this, the increasing manufacturing sector in these countries is also anticipated to create numerous opportunities to boost the market growth during the forecast period. According to the statistics by the World Bank, the value (in current USD) added by the manufacturing industry in the United States, Mexico and Canada increased from USD 1.695 Trillion, USD 135.873 Billion, and USD 138.304 Billion respectively in the year 2009 to touch USD 2.175 Trillion, USD 202.129 Billion, and USD 159.724 Billion respectively in the year 2017.
The air compressor market is segmented by category into portable and stationary. In the United States, the portable segment is anticipated to grow with the highest CAGR of 5.68% during the forecast period, while in Canada and Mexico, the same segment is projected to grow with the highest CAGR of 4.13% and 4.87% respectively during the forecast period. On the basis of product type, the market is segmented into positive displacement and dynamic displacement compressor. In the U.S., the positive displacement segment is expected to generate the largest market revenue by the end of 2030, and also grow with the highest CAGR of 5.33% during the forecast period. Moreover, in Canada, and Mexico, the segment is expected to grow with the highest CAGR of 3.79% and 4.39% respectively over the forecast period. By pressure, the market is segmented into 0 bar – 20 bar, 20 bar – 100 bar, and above 100 bar. Out of these, in the U.S., the 0 bar – 20 bar segment is anticipated to generate the largest revenue of USD 5850.73 Million by the end of 2030, up from a revenue of USD 3549.57 Million in the year 2020. Moreover, in Canada and Mexico, the segment is expected to touch USD 597.35 Million and USD 387.64 Million respectively by the end of 2030.
The air compressor market is also segmented by output power into 50kW – 100kW, 100kW – 250kW, 250kW – 500kW, and above 500kW. Out of these, in the U.S., the 100kW – 250kW segment is expected to grow with the highest CAGR of 6.04% during the forecast period and also attain the largest revenue of USD 3422.88 Million by the end of 2030. In Canada and Mexico, the segment is anticipated to touch USD 356.25 Million and USD 221.21 Million by the end of 2030. By seal type, the market is segmented into lubricated (wet air compressor), and oil free (dry air compressor). Out of these, the lubricated (wet air compressor) segment is anticipated to garner the largest revenue by the end of 2030, and also grow with the highest CAGR of 5.45% during the forecast period. Moreover, in Canada and Mexico, the segment is anticipated to grow with the highest CAGR of 4.06% and 4.66% respectively during the forecast period. By end-use industry, the market is segmented into power generation, household appliances, oil & gas, food & beverage, semiconductors & electronics, manufacturing, construction, healthcare, and others. Out of these, the manufacturing segment is estimated to generate the largest revenue of USD 2388.05 Million by the end of 2030, while in Canada and Mexico, the segment is expected to touch USD 256.83 Million and USD 163.27 Million respectively in the same year.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the United States (U.S.), Canada, and Mexico air compressor market that are included in our report are Atlas Copco AB, Ingersoll Rand Inc., Sulzer Ltd., Elliott Group, Hitachi, Ltd., Sullair, LLC, Kirloskar Pneumatic Co. Ltd., Siemens AG, General Electric, Quincy Compressor LLC, Curtis-Toledo, Inc., Saylor-Beall Inc., KAESER KOMPRESSOREN, MAT Industries, LLC (Campbell Hausfeld), Sullivan-Palatek Inc., Chicago Pneumatic, Stanley Black & Decker, Inc., Werther International, Kobe Steel, Ltd., Bobcat Company, ELGi EQUIPMENTS LTD., and others.
FREQUENTLY ASKED QUESTIONS
The rise in consumption of energy and the growing demand for energy efficient air compressors are some of the major factors anticipated to drive the market growth.
The market in the United States, Canada, and Mexico is anticipated to attain a CAGR of 4.90%, 3.50%, and 4.10% respectively over the forecast period, i.e., 2021 – 2030.
The increasing concern for pollution caused by air compressors and the stringent regulatory standards for attaining SDGs are estimated to hamper the market growth.
The major players in the market are Atlas Copco AB, Ingersoll Rand Inc., Sulzer Ltd., Elliott Group, Hitachi, Ltd., Sullair, LLC, Kirloskar Pneumatic Co. Ltd., Siemens AG, General Electric, Quincy Compressor LLC, Curtis-Toledo, Inc., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by category, product type, pressure, output power, seal type, and by end-use industry.
United States (U.S.), Canada, and Mexico Air Compressor Market TOC
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