The Worldwide Industrial Air Compressor Industry is Projected to Reach $42.9 Billion by 2026: Surging Demand from HVAC Industry Drives Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 19, 2022--
The “Global Industrial Air Compressor Market by Product Type (Positive Displacement, Dynamic), Output Power (Up to 50 kW, 51-250 kW, 251-500 kW, & Above 500 kW), Seal (Oil-flooded & Oil-free), End-user, Design, Pressure, Coolant and Region - Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The industrial air compressor market is projected to reach USD 42.9 billion by 2026 from an estimated USD 32.7 billion in 2021, at a CAGR of 5.6% during the forecast period.
The oil-flooded segment, by seal type, is expected to be the largest market from 2021 to 2026
The seal type segment is categorized as oil-flooded and oil-free. The oil-flooded segment held the largest share of the industrial air compressor market. Oil-flooded compressors use oil to lubricate the air compression chamber, lubricate parts, and seal in the air.
They find increasing usage as they are more economical than an oil-free compressor and generally complete the compression process in a single stage. The compressor is commonly used in industries such as oil & gas, textiles, rubber and plastics, and metals and mining, where cleaner compressed air requirement is optional.
The positive displacement segment, by product type, is expected to be the largest market from 2021 to 2026
The positive displacement segment held the largest share of the industrial air compressor market. Positive displacement industrial air compressors can be bifurcated into reciprocating and rotary compressors.
Positive displacement air compressors are commonly used in construction, automotive and transportation, packaging, food & beverages, metals and mining, and other end-user industries. These sectors are expected to experience a growth in investments, propelling the demand for positive displacement air compressors.
Asia Pacific: The largest and the fastest-growing region in the industrial air compressor market
Asia Pacific is expected to dominate the global industrial air compressor market between 2021-2026. The growth of the regional market is driven by the increasing investments in LNG, chemicals, and mining along with the growth of the domestic manufacturing sector, including automotive and food & beverages.
Asia Pacific is experiencing rapid economic growth, and to meet its energy demand while adhering to decarbonization plans, it is witnessing a spike in investments in hydrogen energy as well as green energy sectors.
- Rapid Industrialization and Increasing Automation in Emerging Economies
- Inflow of Investments and Rising Demand for Oil-Free Compressors in Food & Beverages Industry
- Surging Demand from HVAC Industry
- Increased Financial Losses, Equipment Downtime, and Unnecessary Capacity Additions Associated with Air Leaks
- High Maintenance Costs and Total Cost of Ownership
- Increasing Demand for Energy-Efficient Air Compressors
- Rapid Transformation of IoT in Compressed Air Industry
- Initiatives to Set Up New Gas Transportation Infrastructure and Upgrade Existing Infrastructure
- Growing Adoption of HVAC Systems in Asia-Pacific
- Adherence to Stringent Quality Standards
- Reducing Noise Pollution and Enabling Quieter Operations
- Atlas Copco
- Baker Hughes
- Boge Kompressoren
- Doosan Infracore
- Ebara Corporation (Elliott Group)
- Elgi Equipments
- Fusheng Group
- Hubei Teweite Power Technology
- Ingersoll Rand
- Kaeser Kompressoren
- Kirloskar Pneumatic
- Kobe Steel
- Mitsubishi Heavy Industries
- Saimona Compressor
- Siemens Energy
- Sungshin Compressor
- Volkswagen (Man Energy Solutions)
For more information about this report visit https://www.researchandmarkets.com/r/46pw23
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INDUSTRY KEYWORD: OIL/GAS MANUFACTURING ENERGY HVAC MACHINERY
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 12/19/2022 10:43 AM/DISC: 12/19/2022 10:43 AM