An air compressor is a device that converts power by using an electric motor, diesel or gasoline engine and others into potential energy and stores in pressurized air. Compressed air is an accessible means of powering the manufacturing environment in several industries because it is considered cheaper and safer than many electric and hydraulic equipment. The global industrial air compressors market is forecasted to reach 43.33 billion USD by 2025 from 28.74 billion USD in 2018 with a CAGR of 6.04% during the period
Growth by Region
Asia Pacific will have highest growth rate due to high growth in power generation, manufacturing and food & beverages industries. In the Middle East & Africa region, South Africa will contribute to the market due to rapid industrialization.
Drivers vs Constraints
Rapid industrialization and rising demand for energy conservation are the key factors for the growth of the market. Increasing demand from automotive manufacturing sector for air compressors is also driving the market.
Industry Trends and Updates
Siemens AG to supply compression trains for Statoil’s floating production, storage and offloading (FPSO) vessel located in the Johan Castberg oil field in the Barents Sea.
Atlas Copco Group acquires Walker Filtration Ltd., a British manufacturer of equipment for the treatment of compressed air, gas, and vacuum.