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The air compressors market share is expected to increase by USD 6.93 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 3.95%.
This air compressors market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers air compressors market segmentation by product (stationary air compressor and portable air compressor) and geography (APAC, North America, Europe, South America, and MEA). The air compressors market report also offers information on several market vendors, including Atlas Copco AB, Deere & Co., Doosan Portable Power Co., General Electric Co., Hitachi Ltd., Ingersoll Rand Inc, KAESER KOMPRESSOREN SE, Kobe Steel Ltd., Mitsubishi Heavy Industries Ltd., and Siemens AG among others.
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The increased adoption of variable speed controllers is notably driving the air compressors market growth, although factors such as fluctuations in raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the air compressors industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Air Compressors Market Driver
The increased adoption of variable speed controllers is a major factor driving the global air compressors market share growth. A Variable Speed Drive (VSD) allows air compressors that power multiple applications to run at a uniform speed, regardless of the application's requirement. End-users can realize energy savings using a variable speed drive as it controls the speed of the motor according to the application. The advantage of using VSDs is that it saves energy consumption by running at the required speed. Thus, it saves both time and energy by controlling the air pressure and functioning of the motor, eliminating blow-off losses. Air compressors with variable speed controllers are embedded with sensors that can detect a wide range of variables like temperature and pressure, which can be fed with a drive control module to determine the motor speed and output frequency. The market for air compressors with variable speed controllers is expected to grow substantially during the forecast period as the technology offers several advantages. Continuous innovations in improving the efficiency of compressor systems in terms of technologies will intensify the adoption of these air compressors in end-user industries.
Key Air Compressors Market Trend
The rising mergers and acquisitions is another factor supporting the global air compressors market share growth. The air compressor market is reaching the mature stage, and thus vendors face intense competition in terms of price, product quality, efficiency, supply chain, and product diversification. Several vendors offer air compressors at both the global and regional levels, and to sustain and expand their market shares, resorting to M&A as a major business strategy. By combining the activities of the two companies, manufacturers can not only reduce the cost of production but enhance their performance also. There are several instances of M&A in the air compressor market, with the objective of either growing, increasing the pricing power of the supply chain, or eliminating competition. For instance, in February 2020, Gardner Denver Holdings Inc. merged with Ingersoll Rand Industrial, and the newly merged entity was named Ingersoll Rand Inc. This trend is likely to continue in the forthcoming years too, as the global air compressor market reaches the stage of maturity.
Key Air Compressors Market Challenge
The fluctuations in raw material prices will be a major challenge for the global air compressors market share growth during the forecast period. The availability of raw materials, competition among vendors, and labor costs are the important factors that govern the production cost of air compressors. Although the production costs in most of the developing nations of APAC, such as China and India, are much lower than in Europe, the volatility in raw material prices has an adverse impact on air compressor manufacturers. Aluminum, steel, and castings are the key raw materials used in the production of compressors. The prices of these raw materials fluctuate owing to inflationary pressure and their scarcity. As the market is highly competitive, the vendors cannot pass on the excess cost to the end-users, which reduces their profit margins. Also, vendors must provide constant maintenance and support to end-users, which increases the overall cost of ownership and has a negative impact on the profit margins of the vendors. This forces vendors to deal constantly with price fluctuations to remain competitive, which is a challenge to them, essentially hindering the growth of the market.
This air compressors market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global air compressors market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the air compressors market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the air compressors market encompasses successful business strategies deployed by the key vendors. The air compressors market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The air compressors market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the air compressors market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global industrial machinery market includes the following core components:
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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50% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the air compressors market in APAC. Market growth in this region will be faster than the growth of the market in North America and Europe.
The surge in HVAC installations will facilitate the air compressors market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The air compressors market share growth in the stationary air compressor segment will be significant during the forecast period. Stationary air compressors are used at sites that require uninterrupted supply and more cubic meters of compressed air. The primary industries using stationary air compressors include manufacturing and oil and gas, as these industries need high power output to operate their equipment, machinery, and other accessories. However, stationary air compressors cost higher than portable air compressors. Moreover, portable air compressors are gaining popularity due to the ease with which they can be used in various applications around the job site. Due to this, the stationary air compressor segment is expected to exhibit a slower growth rate during the forecast period than the portable air compressor segment.
This report provides an accurate prediction of the contribution of all the segments to the growth of the air compressors market size and actionable market insights on post COVID-19 impact on each segment.
Portable Air Compressors market - The market share is expected to increase to USD 2.01 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.51%.
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Air Compressors Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.95% |
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Market growth 2021-2025 |
$ 6.93 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
3.7 |
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Regional analysis |
APAC, North America, Europe, South America, and MEA |
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Performing market contribution |
APAC at 50% |
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Key consumer countries |
China, US, Japan, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Atlas Copco AB, Deere & Co., Doosan Portable Power Co., General Electric Co., Hitachi Ltd., Ingersoll Rand Inc, KAESER KOMPRESSOREN SE, Kobe Steel Ltd., Mitsubishi Heavy Industries Ltd., and Siemens AG |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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