Cart is empty 
DESCRIPTION
Industrial Compressors Market Global Size:
Multiple primary factors are contributing to optimistic developments in the global industrial compressor market such as fast industrialization and increased automation in developing nations, the influx of capital, and the growing need for compressors that are free from oil in the food and beverage sectors. Thus, the ELINT Market Research team calculated a USD 33.4 billion valuation in 2022 which is predicted to reach USD 65.66 billion by 2031 at a significant CAGR of 7.80%. Furthermore, this industry is expanding due to the soaring demand for HVAC. Industrial air compressors are becoming increasingly popular in the chemical and petrochemical industries because of their great dependability and effectiveness.
Moreover, this procurement market analysis report reveals several other primary applications of global industrial compressors including sprinkling water on yields and operating washing pressers in dry cleaners, ventilation elevators in farming amenities, and driving hydraulic gear in industrial settings. Also, the geographical distribution of industrial compressors states that a vast count of original equipment manufacturers (OEMs) and importers of compressors exist in European countries, which propel Europe as a dominant exporter of air and gas compressors. European producers are very competitive in the international marketplace because of their reputation for cutting-edge technology, excellent production norms, and creative compressor design.
On the other hand, APAC regions like China and India have experienced constant industrialization in the last few years, which has driven a rise in air compressor product needs. Also, these countries expanded their infrastructures and manufactories and evolved as leading importers of compressors worldwide at a substantial $1.03 billion worth. These facts highlight the mutual dependence of diverse countries in the international industrial compressors economy which is growing due to modernization. Additionally, European shipments satisfy the strong demand from quickly emerging Asian nations, creating a vigorous export market value of nearly $1.2 billion.
Market Definition:
Industrial compressors operate as crucial devices that use either a battery-powered motor, gasoline, or fuels to convert electricity into potential energy preserved in compressed air. Although professional pumps and compressors carry out similar duties, pumps are more concerned with moving fluids like water and oil, whereas compressors concentrate on pressurizing air and gases. Worldwide industries employ two key types of air compressors such as positive displacement which mainly contains reciprocating and rotary screw compressors. Both of them help small and large-scale plants for operations. Further, another type is dynamic compressor which includes centrifugal devices to increase the velocity of the air and transform it into pressure.
Industrial Compressors Market Drivers:
- Rising Requirements for Environment-Friendly Compressors –
The foremost reason for constant development in the industrial compressor market is the rising requirement for sustainable air compressors that protect the atmosphere from harmful gases. In this context, a few intelligent compressor technologies have merged in the market like oil-free compressors which avoid consuming large count of energy and also make lower levels of noise and emissions. Government restrictions that drive enterprises to lower their carbon footprint and boost energy efficiency are encouraging the widespread use of these technologies.
- Expansion in Urbanization –
Another key growth driver of the global industrial compressor procurement intelligence market is an expansion in urbanization in various developing nations like China, India, and more. In these economies, people are rapidly moving from rural places to urban places which drives the need for infrastructure development, industrialization, transportation, commercials, and more. Thus, air compressors have become vital devices that can help in production, construction, and energy manufacturing operations. Also, industrial compressors play a critical role in promoting revenue growth and technological developments in these rapidly expanding sectors by guaranteeing efficient operation, lowering the use of energy, and reducing manufacturing expenses.
Industrial Compressors Market Challenges:
- Elevated Upfront Costs –
Even though technological refinements brought proliferation in the industrial compressors market, the adoption and maintenance of these advancements cause upfront costs for consumers and sellers. Key air compressor method such as oil-free compressors demands higher maintenance expenses which pose challenges for small and medium-scale businesses. Also, rigid regulatory laws that concern environmental safety have become challenges for air compressor-producing companies as they need to comply with rules to operate in the market.
- Shifts in Raw Material Prices –
Constant shifts in raw material costs depending on market dynamics are another main challenging factor in the air compressors industry. Fluctuating prices of key raw materials like steel, aluminum, and copper which are essential components to build air compressors can push manufacturing companies to increase production prices. This challenge can make it difficult for them to be competitive in the market and drive profitability.
Industrial Compressors Market Opportunities:
- Emergence of Smart Industrial Compressors –
The emergence of advanced industrial air compressors in the international market drives great opportunities for industry participants. These intelligent compressors are integrated with smart sensors and control tools to examine and adjust the compressor’s operations. Also, these compressors allow real-time analysis of pressure, warmth, and other metrics; so, operators can easily identify possible problems during operations and make changes immediately. Moreover, smart air compressors contain remotely operable features. Hence, users can control devices remotely which helps lower the need for human involvement and boosts their overall effectiveness. In the coming years, it is anticipated that the abilities of these sophisticated compressors will be significantly enhanced through the integration of AI and machine learning technologies.
- Increasing Demands from Electrical Vehicle Sector –
The introduction of renewable energy and electric vehicles (EVs) sectors demands industrial compressors requirements as they help turbine functioning, conserve energy, and equipment cooling. This factor drives massive development in the global industrial compressors industry.
Industrial Compressors Market Segmentation:
- Types of Industrial Compressors –
The two major types of industrial compressors are reciprocating and rotary air compressors which include handy features like high energy efficiency and low noise levels.
- Key End User Industries –
Significant end-user industries of air compressors include healthcare, food, beverage, construction, mining, energy generation, medicine, automobile, chemical, oil and gas.
Key Suppliers in the Industrial Compressors Market:
Leading suppliers of the global industrial compressors market include Ingersoll Rand, Gardner Denver Inc., Atlas Copco LLC, Sullair Compressors, Elgi Compressors, Ingersoll Rand, and Siemens.
