WHO Scrutinizes Compressed Air as Potential Source of Coronavirus

Amidst the coronavirus (COVID-19) era, air compression in various industries has been deemed as an essential business by the CDC (Centers for Disease Control and Prevention), federal, state, and local governments in the U.S. Hence, companies in the industrial air compressor market are focusing on fulfilling their business continuity plans by providing outstanding products and services to customers. They are constantly monitoring the situation amidst the COVID-19 pandemic to utilize the best advices given by local governments about hygiene and safety practices at plants.

It has been found that compressed air is a potential source of coronavirus, which requires companies to install sterile air filters in equipment to prevent the contamination of food and pharmaceutical products. Frequent filter sterilizations are vital to prevent product contamination since the WHO (World Health Organization) is under scrutiny for investigating the rare possibility of an aerosol-generating procedure that could be caused by air compressors.

These factors are expected to drive the industrial air compressor market during the forecast period.

industrial air compressor market infographic

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Centrifugal Compressor Technology Replaces Outdated and Costly Compress Designs

Distinct advantages of centrifugal air compressors are translating into revenue opportunities for manufacturers. For instance, Ingersoll Rand - a supplier of complete air compression systems is promoting its MSG® (multi-stage geared) and TURBO-AIR® integrally geared centrifugal compressors that offer outstanding design flexibility. As such, companies in the industrial air compressor market are strengthening their supply chains with aftermarkets to broaden their revenue streams. They are increasing their R&D muscle to improve the flow, input capacity and discharge pressures of industrial air compressors.

industrial air compressor market segmentation

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The centrifugal compressor technology is increasingly replacing outdated and costly compressor designs in the market. Such attributes of centrifugal compressors bode well for growth of the industrial air compressor market, which is predicted to reach a value worth of US$ 26.6 Bn by 2030. Leading market players with decades of centrifugal expertise are at an advantage as compared to emerging players.

Electric-powered Portable Compressors Help Reduce CO2 Emissions and Fossil Fuel Usage

Variable-speed drives, IoT (Internet of Things) capabilities, and oil-free operations of the next-gen industrial air compressors are delivering high energy efficiency. Companies in the industrial air compressor market are participating in trade shows to gain larger visibility for their new and upgraded products. However, companies need to focus on solutions that cut back on carbon dioxide (CO2) emissions during operations. For this, companies are providing alternatives to fossil fuels that act as efficient energy sources.

Swedish multinational industrial company Atlas Copco has unveiled its latest generation of clean compressors that function on sustainable mobile air technology. Manufacturers in the industrial air compressor market are powering their equipment with lithium-ion batteries and energy-efficient electric motors. Electric-powered portable compressors are emerging as a fitting replacement to diesel-driven units at urban construction sites. The ever-increasing nature of the construction industry is creating a positive impression on compressor manufacturers to boost their production.

Collaborative Efforts of Manufacturers Spark Innovations in Reciprocating Compressors

Manufacturers in the industrial air compressor market are setting their collaboration wheels in motion to innovate in reciprocating compressors. Compressed air & gas system specialist The Titus Company is partnering with multiple equipment manufacturers such as Sauer Compressors to increase their portfolio in reciprocating high-pressure air compressors. Manufacturers are vying opportunities to work with equipment manufacturers that have an extensive experience in oil & gas, military and shipping industries. As such, there is a high demand for affordable industrial air compressors that are delivered on time.

High-performance attributes of air compressors are highly preferred by end users in order to withstand tough work environments. In order to meet the convenience of end users, manufacturers in the industrial air compressor market are increasing their production capabilities to introduce oil-free compressors.

Leading Market Players Leverage Incremental Opportunities in India’s SME Sector

The exponential growth of Asia Pacific countries such as India and China are attracting investor sentiment. Companies in the industrial air compressor market are increasing efforts to broaden their portfolio in specially designed products. Leading market players are providing a range of industrial air compressors to small and medium enterprises (SMEs) in India to meet changing demands of end users. These market players are increasing their production capacities for piston air compressors and screw air compressors to meet various end-use cases. Energy savings and enhanced productivity levels for customers are the key focus points for compressor manufacturers.

Variable speed drive oil-injected screw air compressors are becoming pervasively mainstream in energy savings application, resulting in reduced costs for customers. Companies in the industrial air compressor market are increasing their research capabilities in fixed speed oil-injected screw air compressors to introduce revolutionary screw elements.

Oil-free Industrial Air Compressors Eliminate Risk of Contamination and Ensure Air Purity

Low cost of ownership and environment-friendly attributes of oil-free industrial air compressors bode well for end-use customers. Hence, CompAir— a provider of innovative compressed air solutions is increasing its marketing capabilities for its complete range of oil-free compressors that are designed for applications that require clean air. Manufacturers in the industrial air compressor market are boosting their credibility credentials by increasing the availability of ISO (International Organization for Standardization)-certified oil-free screw compressors. Low pressure and high pressure dry screw airends in compressors offer high-energy efficiency levels.

Since air purity is critical in several industries, customers are demanding oil-free compressors that eliminate the issues of oil spoilage or damage to the production equipment. Manufacturers in the industrial air compressor market are focusing on cost savings associated with oil-free compressors by eliminating the need for costly oil replacements.

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Analysts’ Viewpoint

Healthcare workers are being advised about the potential of compressed air as a cause for coronavirus, since virus particles have the possibility to become aerosolized and remain airborne for a longer time period.  As such, customers are opting for oil-free industrial air compressors that eliminate issues of contamination and ensure air purity. The industrial air compressor market is progressing at a moderate CAGR of ~4% during the forecast period. This is due to manufacturers’ need to abide by strict government regulations such as energy conservation amendment and meeting ISO standards. Hence, manufacturers should increase their production capabilities in centrifugal compressors and focus on design improvements in oil-free units that are replacing diesel-driven equipment.

Industrial Air Compressor Market: Overview

  • The global industrial air compressor market is expected to reach US$ 26.6 Bn by 2030 from US$ 18.1 Bn in 2020, expanding at a CAGR of ~4% from 2020 to 2030
  • The global industrial air compressor market is currently driven by the growing demand for portable air compressors among industries. The industrial air compressor market in Asia Pacific is projected to expand at a high CAGR during the forecast period. The market in Asia Pacific is expected to expand at a rapid rate, owing to the rising demand for petrochemical products such as ethylene derivatives, propylene derivatives, and aromatic products in the region.
  • China is the most attractive industrial air compressor market in Asia Pacific. The incremental opportunity is significantly higher for China, as it accounts for a dominant share in the industrial air compressor market in the region.
  • The industrial air compressor market report provides analysis of the global industrial air compressor market for the period 2018 - 2030, wherein 2019 is the base year, 2020 is the estimated year, and 2021 to 2030 is the forecast period. Data for 2018 has been included as historical information.
  • An industrial air compressor is a positive-displacement compressor, which works on air principle. An air compressor converts electrical energy into powerful kinetic energy, using an electric motor, diesel or gasoline engine, etc.
  • In this report, we analyze the challenges industries and manufactures face in acquiring the right industrial air compressor that can cope with the rapidly changing world. The report also highlights the total volume and revenue generated through the sale of industrial air compressors across various key regions worldwide.

Asia Pacific Industrial Air Compressor Market Snapshot

  • The industrial air compressor market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, followed by Europe. Asia Pacific remains the leading market for industrial air compressors, with revenues in 2020 estimated at US$ 5,731.6 Mn.
  • India and China are adopting industrial air compressors in petrochemical and oil & gas plants due to the increasing demand for petrochemical/chemical products in these countries. Infrastructure projects and rapid urbanization planning are gaining pace in APAC, which is likely to continue over the forecast period. Such activities are projected to fuel the demand for industrial air compressors.

Key Growth Drivers of Industrial Air Compressor Market

  • Increase in Demand for Energy-efficient Air Compressors: Energy efficiency is the major concern associated with the use of air compressors. Growing consumer awareness about energy-efficient models primarily fuels the growth of the industrial air compressor market. Commercial, residential, and industrial sectors utilize about one trillion kilowatt-hours of electricity annually.
  • Technological Advancements in Air Compressors: Adoption of advanced technologies by global players in the air compressor market is fueling the demand for air compressors in different industries. Technological innovation is a prominent factor in the air compressor market, which results in significant replacement demand for traditional air compressors.

Key Challenges Faced by Industrial Air Compressor Market Players

  • Cost of installation and maintenance of air compressors is significantly high. The cost continues to rise, owing to the maintenance of complicated monitoring and control systems of different types of air compressors. This is expected to hinder the market growth in the near future.

Industrial Air Compressor Market: Competition Landscape

  • In December 2019, Elgi Equipments, an air-compressor manufacturer launched an energy-efficient range of electric and diesel portable air compressors
  • In July 2019, Atlas Copco introduced five new models of air compressors for the market in India. The primarily objective of the launch of these products is to cater to the changing demand of customers and enhance productivity of various sectors such as cement, textile, and food & beverages.

Industrial Air Compressor Market: Company Profile Snapshot

  • Baker Hughes: Incorporated in 1907, Baker Hughes is a U.S.-based provider of integrated oilfield products and services in 120 countries with approximately 68,000 employees. The company operates through four business segments that includes Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS).
  • Burckhardt Compression AG: Burckhardt Compression AG is an industrial company and provider of various types of reciprocating compressors across the globe. The company operates under two business divisions: System and Services.
  • Other major players operating in the global industrial air compressor market and profiled in the report include 
    • Ariel Corporation
    • Howden Group Ltd.
    • IHI Corporation, Ltd
    • Kaeser Kompressoren Co., Ltd.
    • Kobe Steel, Ltd
    • Mayekawa Mfg. Co., LTD
    • Mikuni Kikai Kogyo Co., LTD.
    • Mitsui E&S Holdings Co., Ltd
    • Siemens AG
    • The Japan Steel Works, LTD.
    • Hitachi Ltd
    • Ingersoll Rand Inc.
    • Parker Hannifin Corporation
    • Elgi Equipments
    • Mitsubishi Heavy Industries Ltd.
    • Sulzer Ltd.
    • Danfoss A/S

Industrial Air Compressor Market – Scope of the Report

A latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global industrial air compressor market to accurately gauge its potential future development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the industrial air compressor market to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the industrial air compressor market is expected to progress during the forecast period, 2020-2030.

The report offers intricate dynamics about the different aspects of the industrial air compressor market that aids companies operating in the market in making strategic development decisions. TMR’s study elaborates on significant changes that are highly anticipated to configure the growth of the industrial air compressor market during the forecast period. It also includes a key indicator assessment to highlight the growth prospects of the industrial air compressor market, and estimate statistics related to the market progress in terms of value (US$ Mn) and volume (Thousand Units).

This study covers a detailed segmentation of the industrial air compressor market, along with cross-country analysis, key information, and a competitive outlook. The report mentions company profiles of key players that are currently dominating the industrial air compressor market wherein various developments, expansions, and winning strategies practiced and executed by leading players have been presented in detail.

Key Questions Answered in TMR’s Report on Industrial Air Compressor Market

The report provides detailed information about the industrial air compressor market on the basis of comprehensive research on various factors that play a key role in accelerating the growth potential of the market. Information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the industrial air compressor market, so as to help them make successful strategies and take target-driven decisions.

  • Which regions will continue to remain the most profitable regional markets for industrial air compressor market players?
  • Which factors will induce a change in the demand for industrial air compressors during the assessment period?
  • How will changing trends impact the industrial air compressor market?
  • How will COVID-19 impact the industrial air compressor market?
  • How can market players capture low-hanging opportunities in the industrial air compressor market in developed regions?
  • Which companies are leading the industrial air compressor market?
  • What are the winning strategies of stakeholders in the industrial air compressor market to upscale their position in this landscape?
  • What will be the Y-o-Y growth of the industrial air compressor market between 2020 and 2030?
  • What are the winning imperatives of market frontrunners in the industrial air compressor market?

Research Methodology – Industrial Air Compressor Market

The research methodology adopted by analysts to compile the industrial air compressor market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the industrial air compressor market.

During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through the interviews of genuine resources, analysts have emphasized the changing scenario of the industrial air compressor market.

For secondary research, analysts scrutinized numerous annual report publications, white papers, industry association publications, and company websites to obtain the necessary understanding of the industrial air compressor market.

Industrial Air Compressor Market – Segmentation

TMR’s research study assesses the industrial air compressor market on the basis of product type, lubrication, form factor, industry, and region. The report presents extensive market dynamics and progressive trends associated with different segments, and how they influence the growth prospects of the industrial air compressor market.

Product Type

  • Reciprocating
  • Rotary
  • Centrifugal

Lubrication

  • Oil-filled
  • Oil-free

Form Factor

  • Portable
  • Stationary

Industry

  • Oil & Gas
  • Manufacturing
  • Healthcare/ Pharmaceutical
  • Food & Beverages
  • Energy & Utility
  • Consumer Goods
  • Metal & Mining
  • Transportation
  • Others (Construction, Automotive, etc.)

Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

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Industrial Air Compressor Market

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