Selbyville, Delaware, Nov. 14, 2022 (GLOBE NEWSWIRE) --
Industrial Air Compressor Market is expected to cross a valuation of USD 26 billion by 2032, according to latest research study by Global Market Insights Inc.
Rapid digitization of industrial and manufacturing processes has resulted in the development of technologically advanced industrial air compressors. The advent of artificial intelligence (AI) and machine learning has proliferated automated manufacturing trends. Compressed air accounts for nearly 30% of all energy expenses in a plant and nearly one-third of the generated compressed air is wasted due to a lack of monitoring.
Industrial and manufacturing plant operators are rapidly shifting to AI-driven prediction models to reduce energy costs and prevent unplanned shutdowns. AI models enable early detection of leaks helping reduce the energy consumption and ultimately the plant’s carbon footprint. Ongoing innovation in machine learning models to detect compressed air anomalies will positively influence industrial air compressor market dynamics.
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The industry share from the stationary product type is estimated to exceed USD 23 billion by 2032. A high preference for stationary air compressors at an industrial scale can be attributed to their cost-efficiency. Advancements in electrification will help increase product affordability. For instance, an electrically charged stationary compressor costs 2-4 times less as compared to a portable diesel compressor. Additionally, the electric alternative allows quieter and cleaner operations making them sustainable, and ideal for indoor applications. Stationary air compressors are larger in size, more powerful, and suitable for rental use across single-site industrial operations.
The industrial air compressor market revenues from the centrifugal technology segment is projected to surpass over USD 6.5 billion by 2032. Owing to weaker resistance to changes in gas conditions, centrifugal air compressors are less prevalent. However, growing interest in environmentally friendly industrial equipment is anticipated to increase the demand for these systems. Air compressors based on this technology are oil-free by design, enabling manufacturers to reduce maintenance costs and become sustainable. They help prevent the risks associated with the contamination of end-product and damage to production equipment.
The 16-75 kW power capacity compressor type is slated to exhibit 8% CAGR between 2023 and 2032. These compressors ensure a smaller footprint, low maintenance requirements, and higher reliability. They are widely used in automotive, textile, paper, and food processing applications. Due to their compact size, improved energy efficiency and affordability, the demand for these air compressors will pick up pace.
The energy & mining application is set to account for USD 2.5 billion industrial air compressor market sales by 2032. These compressors are extensively deployed in all types of power plants such as thermal, hydroelectric, and nuclear. Compressed air plays a crucial role in power plants operating pneumatic equipment connected with boilers, precipitators, turbines, ash handling systems, and generators. Power plants with high fluctuation in loads heavily depend on oil-free screw compressors to facilitate consistent pressure flow.
Latin America industrial air compressor sector is likely to attain 6% gains from 2023 to 2032. In the last decade, LATAM countries have witnessed dynamic growth in manufacturing output because of the easy availability of raw materials, cost-effective labor, and vast land. Mexico has emerged as a key manufacturing hub for investors worldwide. Favorable ground connectivity with markets in North America allows manufacturers in the region to gain substantial profits.
The global industrial air compressor market landscape is inclusive of companies like Atlas Copco, Sullair LLC, Ingersoll-Rand plc, Rolair Systems, Doosan Portable Power, Sullivan-Palatek, Inc., Hubei Teweite Power Technology Company Limited, Elgi Compressors USA, Inc., Heyner UK Ltd., Ciasons Industrial, Inc., Mat Holdings, Inc., Oasis Manufacturing, Aerzener Maschinenfabrik GmbH, Quincy Compressor, Vanair Manufacturing, Inc., VMAC Global Technology, Inc. (VMAC Company), Zen Air Tech Pvt. Ltd., Boge Compressors, Bauer Compressors, Inc., Air Squared, Emerson Climate Technologies, Inc., and Frank Technologies. These players are focusing on strategic partnerships and collaborations to advance product development.
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Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Industrial air compressor market 3600 synopsis, 2018 - 2032
2.1.1 Business trends
2.1.2 Product trends
2.1.3 Technology trends
2.1.4 Lubrication trends
2.1.5 Power trends
2.1.6 Application trends
2.1.7 Regional trends
Chapter 3 Industrial Air Compressor Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2018 - 2032
3.3 Industry ecosystem analysis
3.4 Industry impact forces
3.4.1 Growth drivers
3.4.1.1 Rapid industrial growth in the Asia Pacific & Middle East
3.4.1.2 Technological developments in the field of air compressors
3.4.1.3 Mature manufacturing industry in the U.S.
3.4.2 Industry pitfalls and challenges
3.4.2.1 Strict regulations regarding air compressor usage
3.4.2.2 Popularity of air compressor rental services
3.4.2.3 Strict emission norms across globe
3.5 Growth potential analysis, 2022
3.6 Innovation & sustainability
3.7 Regulatory landscape
3.8 Regional price trends
3.9 Cost structure analysis
3.10 Competitive landscape
3.11 Porter's analysis
3.12 PESTEL analysis
3.13 COVID-19 impact on industrial air compressor demand, by application
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
