Wilmington, Delaware, Oct. 12, 2023 (GLOBE NEWSWIRE) -- Global Air Compressors Market is estimated at a market size of US$ 29.9 billion in 2023 and is expected to grow at a significant CAGR of over 4.8% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
Air compressors are mechanical devices that convert external power, such as an electric motor or an internal combustion engine, into potential energy stored in compressed air. These machines reduce the volume of a gas (in this case, air) to increase its pressure.
Rapid industrialization in developing economies has increased demand for air compressors in a variety of production operations. Automotive, aerospace, electronics, and food and beverage industries rely extensively on compressed air, fueling market expansion.
- According to a deep-dive market assessment by RationalStat, the global air compressors market has been analyzed on the basis of market segments, including type, product, lubrication, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global air compressors market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global air compressors market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Air Compressors Market: Segmental and Market Share Analysis
- On the basis of type, Due to the widespread use of these compressors in the manufacturing sector, the stationary air compressor segment will account for more than half of the market in 2022.
- On the basis of product, in 2022, the rotary segment will dominate the market share over the forecast period. Due to high adoption of rotary air compressors in large industrial applications.
- On the basis of application, in 2022, the manufacturing segment held the highest market share. This is due to the fast industrialization of developing economies.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 29.9 billion |
| Market Size Forecast | US$ 41.5 billion |
| Growth Rate | 4.8% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Players engaged in the production of atomic dermatitis therapeutics adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global air compressors market include,
- In July 2023, Chart Industries, Inc. formed a strategic alliance with Avina Clean Hydrogen Inc. The goal of this collaboration was to provide Avina's green hydrogen factory in Southern California with Chart Industries' Howden compressors.
- In June 2023, Atlas Copco's production base in Wuxi, China, is expanded. The facilities were designed to support compressor R&D and manufacturing operations.
Some of the prominent players and suppliers operating and contributing significantly to the global air compressors market growth include Atlas Copco, Bauer Group, BelAire Compressors, Cook Compression, Compressor Products International (CPI), Frank Technologies, Galaxy Auto Stationary Equipment Co. Ltd., Gast Manufacturing, Inc., GE Energy, Heyner, Hitachi Industrial Equipment Systems Co. Ltd., Hoerbiger, Ingersoll Rand Plc, Kaeser Compressors, and MAT Industries LLC, among others.
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RationalStat has segmented the global air compressors market based on type, product, lubrication, application and region
- Global Air Compressors Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
- Portable
- Stationary
- Global Air Compressors Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Product
- Reciprocating/Piston
- Rotary/Screw
- Centrifugal
- Global Air Compressors Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Lubrication
- Oil-Filled
- Oil-Free
- Global Air Compressors Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
- Manufacturing
- Semiconductors & Electronics
- Food & Beverage
- Healthcare/Medical
- Home Appliances
- Energy
- Oil & Gas
- Global Air Compressors Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Air Compressors Market
- US
- Canada
- Latin America Air Compressors Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Air Compressors Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Air Compressors Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Air Compressors Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Air Compressors Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Air Compressors Market
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Key Questions Answered in the Air Compressors Report:
- What will be the market value of the global air compressors market by 2030?
- What is the market size of the global air compressors market?
- What are the market drivers of the global air compressors market?
- What are the key trends in the global air compressors market?
- Which is the leading region in the global air compressors market?
- What are the major companies operating in the global air compressors market?
- What are the market shares by key segments in the global air compressors market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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