What is Global Air Compressors Market?
The Global Air Compressors Market is a vast and dynamic sector that encompasses a wide range of products and services. Air compressors are devices that convert power into potential energy stored in pressurized air, also known as compressed air. This market is not confined to a specific region or country but spans across the globe. The market's value was estimated at US$ 6028 million in 2022, and it is projected to reach US$ 8402.1 million by 2029. This indicates a Compound Annual Growth Rate (CAGR) of 4.8% during the forecast period from 2023 to 2029. The market is dominated by the top five global players who hold over 50% of the market share in terms of revenue.
Oil Free Air Compressors, Oil-lubricated Air Compressors in the Global Air Compressors Market:
The Global Air Compressors Market is segmented into two main types: Oil Free Air Compressors and Oil-lubricated Air Compressors. Oil Free Air Compressors, as the name suggests, operate without the need for oil lubrication. They are designed to provide clean, dry air that is free from oil and other contaminants. On the other hand, Oil-lubricated Air Compressors use oil for lubrication, cooling, and sealing the compressor elements. These compressors are typically more robust and can handle more demanding applications. Both types of compressors have their own set of advantages and disadvantages, and the choice between the two depends on the specific requirements of the application.
Construction, Automotive, Chemical, Electronics, Metallurgy, Others in the Global Air Compressors Market:
The Global Air Compressors Market finds its application in various sectors such as Construction, Automotive, Chemical, Electronics, Metallurgy, among others. In the construction industry, air compressors are used to power a variety of tools and equipment such as jackhammers, compactors, and concrete breakers. In the automotive industry, they are used in the manufacturing process to power tools and equipment, and also in the operation of air brakes in vehicles. In the chemical industry, air compressors are used in various processes such as the production of chemicals, pharmaceuticals, and plastics. In the electronics industry, they are used in the manufacturing of electronic components and devices. In the metallurgy industry, air compressors are used in various processes such as smelting, refining, and casting.
Global Air Compressors Market Outlook:
The global Air Compressors market's outlook is quite promising. In 2022, the market was valued at US$ 6028 million and is expected to reach US$ 8402.1 million by 2029. This suggests a steady growth rate of 4.8% during the forecast period from 2023 to 2029. The market is largely dominated by the top five global players, who collectively hold over 50% of the market share in terms of revenue. Europe is the leading producer of air compressors, accounting for about 30% of the global production. It is closely followed by North America, China, and Japan. These regions are also significant contributors to the global Air Compressors market.
| Report Metric | Details |
| Report Name | Air Compressors Market |
| Accounted market size in 2022 | US$ 6028 in million |
| Forecasted market size in 2029 | US$ 8402.1 million |
| CAGR | 4.8% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Atlas Copco, Ingersoll Rand, KAESER, Hitachi, KAISHAN GROUP, Fusheng Co., Ltd, Hokuetsu Industries, Hanbell Precise Machinery, Elgi, Anest Iwata, Kobelco, BOGE, IHI Rotating Machinery Engineering Co., Ltd., DOOSAN, Mitsui Seiki Kogyo Co., Ltd., Hongwuhuan group, Aerzen |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
