DUBLIN--(BUSINESS WIRE)--The "Air Compressor Market Size, Share & Trends Analysis Report By Type (Stationary, Portable), By Product (Reciprocating/Piston, Rotary/Screw, Centrifugal), By Lubrication, By Application, By Region, And Segment Forecasts, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.
The global air compressor market size is anticipated to reach USD 40.98 billion by 2028, registering a CAGR of 3.4% from 2021 to 2028, according to a new study conducted by the publisher Air compressors are used in various industries, such as food and beverages, home appliances, oil and gas, semiconductors and electronics, healthcare, manufacturing, and energy. The rising need for the reduction of CO2 emissions and stringent regulations pertaining to environmental conservation is anticipated to boost market growth. Moreover, eco-friendly, reliable features, ease of handling, and low maintenance costs offered by the product are propelling its demand.
The onset of the COVID-19 pandemic resulted in lockdowns and declining investments across industries and verticals, which hampered the growth of the market. However, after a short slowdown, the market is expected to rebound and witness a healthy growth rate in the post-pandemic era.
The growing consumer awareness regarding product quality, the need for improved air quality, and supportive government policies on energy conservation are anticipated to boost the market growth. At workplaces, air compressors are required to comply with the Occupational Health & Safety (OHS) regulations, which would positively impact the market over the forecast period.
Oil-free air compressors are expected to emerge as the fastest-growing lubrication segment. The growth is attributed to the increased proliferation in the manufacturing sector. Moreover, oil-free compressors reduce the operating costs by evading compressor oil separator elements and down-streaming filter replacement costs.
Asia Pacific dominated the market for air compressor in 2020 owing to rapid industrialization in emerging economies, such as India and China. The need for efficient and next-generation compressors has propelled the product demand across different industries in the region.
Air Compressor Market Report Highlights
- The stationary type segment dominated the market in 2020, while the portable segment is anticipated to emerge as the fastest-growing segment from 2021 to 2028
- The oil-filled compressor segment is likely to lead the market over the forecast period. These compressors are widely adopted for commercial applications by the chemical, energy, and manufacturing industries
- The rotary/screw air compressor segment is expected to account for a 46.4% market share by 2028. These compressors offer continuous airflow at different discharge pressure and operate through positive displacements. Furthermore, features such as easy maintenance and longer product life are expected to fuel the demand for these compressors over the forecast period
- Asia Pacific held the largest market share in 2020. The growing oil and gas sector in countries such as China and India is, in turn, expected to lead the growth of the market
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Market Definitions
Chapter 4 Industry Outlook
4.1 Market Snapshot
4.2 Global Air Compressor Market
4.2.1 Global air compressor market, 2018 - 2028 (USD Million)
4.3 Regional Business Analysis
4.3.1 Global air compressor market, by region, 2018 - 2028 (USD Million)
4.4 Type Business Analysis
4.4.1 Global air compressor market, by type, 2018 - 2028 (USD Million)
4.5 Product Business Analysis
4.5.1 Global air compressor market, by product, 2018 - 2028 (USD Million)
4.6 Lubrication Business Analysis
4.6.1 Global air compressor market, by lubrication, 2018 - 2028 (USD Million)
4.7 Application Business Analysis
4.7.1 Global air compressor market, by application, 2018 - 2028 (USD Million)
4.8 Value Chain Analysis
4.9 Market Variable Analysis
4.9.1 Market Drivers Analysis
4.9.2 Market Restraints Analysis
4.10 Business Environment Analysis Tool
4.10.1 Air compressor market PEST analysis
4.10.2 Air compressor market Porter's analysis
4.11 Penetration & Growth Prospect Mapping
Chapter 5 Competitive & Vendor Landscape
5.1 Company Market Share Analysis
Chapter 6 Air Compressor Market: Type Segment Analysis
6.1.1 PorTable market, 2018 - 2028 (USD Million)
6.2.1 Stationary market, 2018 - 2028 (USD Million)
Chapter 7 Air Compressor Market: Product Segment Analysis
Chapter 8 Air Compressor Market: Lubrication Segment Analysis
Chapter 9 Air Compressor Market: Application Segment Analysis
Chapter 10 Air Compressor Market: Regional Outlook
Chapter 11 Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/lw5h4f