Air Compressed Equipment Market Size
Air Compressed Equipment Market was valued at USD 18 billion in 2023 and is estimated to register over 5.5% CAGR from 2024 to 2032. The growth is attributed to the growing industrialization around the globe, which is fueling the demand for compressed air solutions across a range of industries including automation, construction, and manufacturing. Pneumatic tools, control systems & machinery are powered by compressed air and used in a variety of industrial processes. The increasing need for dependable and effective compressed air solutions to support industrial operations is further spurring market growth.
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An air-compressed equipment utilizes compressed air to power various tools and machinery. It includes air compressors that generate pressurized air, which is stored in tanks or released through hoses to operate pneumatic tools such as drills, sanders, and impact wrenches. These systems are versatile, efficient, and widely used across industries for their reliability & ability to perform various tasks.
Air Compressed Equipment Market Report Attributes
| Report Attribute |
Details |
| Base Year |
2023 |
| Air Compressed Equipment Market Size in 2023 |
USD 18 Billion |
| Forecast Period |
2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR |
5.5% |
| 2032 Value Projection |
USD 28 Billion |
| Historical Data for |
2018 - 2023 |
| No. of Pages |
200 |
| Tables, Charts & Figures |
239 |
| Segments covered |
Component, End-use Industry and Region |
| Growth Drivers |
- Increasing industrialization
- Surging energy exploration
- Expanding healthcare applications
- Growing use in electronics manufacturing
- Growing environmental awareness
|
| Pitfalls & Challenges |
- Energy-intensive operations
- Environmental impacts
|
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High energy consumption during the compression process contributes to elevated operational costs, impacting the overall economic feasibility for businesses. As industries increasingly prioritize energy efficiency and sustainability, the substantial power requirements of air compressed equipment become a deterrent. This challenge prompts businesses to explore alternative solutions, hindering the wide adoption of air compressed equipment and emphasizing the need for more energy-efficient technologies in the market.
Air Compressed Equipment Market Trends
Hey there! The air-compressed equipment industry is buzzing with changes. First off, smart compressors are all the rage. They're using sensors and the internet of things to keep an eye on themselves and predict when they need maintenance. That means less downtime and smoother operations. Energy-wise, companies are getting smarter with variable-speed drives and control systems. Compressors can now adjust their speed to save energy when they don't need to work so hard. Sustainability is also top of mind. Manufacturers are making eco-friendlier refrigeration solutions and oil-free compressors. That's good news for the environment and your wallet. To save space and make things easier, compact and modular designs are becoming more popular. Another trend is the shift towards rental services. Instead of buying equipment, businesses can now rent it for a more flexible and cost-effective solution. Finally, manufacturers are making it easier than ever to use their machines with remote accessibility and user-friendly interfaces. All in all, these trends show that the industry is focused on making air-compressed equipment more efficient, durable, and flexible to meet our changing needs and environmental concerns.
Air Compressed Equipment Market Analysis
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Based on end use, the market is segmented into manufacturing, pharmaceuticals, food & beverage, oil & gas, construction & mining, energy & chemical, automotive, and others. The manufacturing segment dominated the global market with a share of over 40% in 2023.
- The manufacturing sector is experiencing significant growth in the air compressed equipment industry due to several factors such as the growing need for automation and pneumatic tools in manufacturing processes. These systems boost productivity in manufacturing facilities by supplying dependable and effective power for a range of applications.
- Industries are also concentrating on energy-efficient solutions, and contemporary air compressed equipment frequently integrates cutting-edge technologies to maximize energy consumption. The market for high-performance air compressed equipment is expanding due to the growing emphasis on precision manufacturing and strict quality standards, driving market growth.
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Based on component, the market is divided into compressor, treatment equipment, and distribution system. The compressor segment is anticipated to register a CAGR of over 7% through 2032.
- The compressor component segment is anticipated to experience significant growth, which is attributed to its rising demand across various industries. Compressors play a crucial role in providing the necessary pressure for applications such as manufacturing, construction, and energy production.
- With industrialization, infrastructure development, and manufacturing activities on the rise globally, the demand for compressed air continues to increase. Moreover, advancements in compressor technology, focused on energy efficiency and sustainability, further contribute to the anticipated growth as businesses seek more reliable and environmentally conscious solutions for their compressed air needs.
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North America air compressed equipment market held a share of over 38% in 2023. The growth is credited to increasing industrial activities, infrastructure development, and the demand for energy-efficient solutions. The expanding manufacturing sector in the region along with increased investments in oil & gas projects is boosting market growth. Furthermore, strict laws encouraging energy efficiency and the uptake of cutting-edge technologies also drive market expansion. The demand for dependable compressed air equipment is further fueled by the emphasis on automation and smart manufacturing techniques, propelling significant growth in the North America air compressed equipment.
Air Compressed Equipment Market Share
Major participants focus on implementing different growth strategies to strengthen their offerings and expand their market reach. These strategies involve new product developments & launches, partnerships & collaborations, mergers & acquisitions, and customer retention. These players also heavily invest in research & development to introduce innovative and technologically advanced solutions in the market.
Air Compressed Equipment Market Companies
Some of the major players operating in the air compressed equipment industry are
- Atlas Copco
- Ingersoll Rand
- Kaeser Kompressoren SE
- Quincy Compressor
- Campbell Hausfeld
- Elgi Equipments
- Powerex Inc.
Air Compressed Equipment Industry News
- In March 2023, Sullair launched E1035H, a next-generation air compressor. The new compressor provides durability, reliability, and performance similar to its diesel counterparts.
- In July 2022, OTC Industrial Technologies partnered with Quincy Compressor to expand its OTC locations in Phoenix and Las Vegas (U.S.). With this expansion, OTC strengthened its geographic presence in the region.
This air compressed equipment market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments
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Market, By Component
- Compressor
- Rotary Compressors
- Reciprocating Compressors
- Centrifugal Compressors
- Treatment Equipment
- Filters
- Dryers
- Aftercoolers
- Others
- Distribution System
Market, By End-use Industry
- Manufacturing
- Pharmaceuticals
- Food & Beverage
- Oil & Gas
- Constructions & Mining
- Energy & Chemical
- Automotive
- Others
The above information is provided for the following regions and countries
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- MEA
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
