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The portable air compressors market size is forecast to increase by USD 1.87 billion, at a CAGR of 3.27% between 2023 and 2028. The portable air compressor market is experiencing significant growth due to several key factors. Firstly, the reduction in energy consumption and maintenance costs brought about by advancements in technology, such as the increasing adoption of variable speed controllers, is making portable air compressors an attractive option for businesses and individuals alike. Additionally, the growing demand for portable oil-free air compressors, which offer the benefits of oil-free compression without the need for regular maintenance, is further driving market growth. These compressors are particularly popular in industries that require clean air, such as food and pharmaceuticals, where contamination from oil can be detrimental. Overall, the portable air compressor market is poised for continued expansion as businesses seek efficient and cost-effective solutions for their compressed air needs.
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In the realm of industry and infrastructure, construction, manufacturing, agriculture, oil & gas, and pharmaceutical sectors form the backbone of global economic activity. These industries rely on specialized equipment tailored to their unique needs. For instance, farming equipment aids in efficient crop cultivation and livestock management, while oil & gas equipment facilitates exploration and extraction processes both onshore and offshore. Within construction sites, tools like jackhammers and wrenches are indispensable for completing projects efficiently. In agriculture, crop spraying equipment and dairy equipment ensure optimal production and herd management. Meanwhile, air compressing requirements and pneumatic tools are crucial across various sectors, including manufacturing and car systems, enhancing productivity and precision in assembly lines and vehicle maintenance. Each sector's reliance on specific equipment underscores the importance of tailored solutions to meet air conditioning needs, operate valves in industrial settings, and advance pharmaceutical equipment for precise manufacturing and research applications. These sectors collectively drive innovation and economic growth through their diverse and specialized equipment requirements.
The reduction in energy consumption and maintenance cost is one of the key drivers supporting the portable air compressors market growth. There are some innovations made in portable air compressors to enhance efficiency. For instance, the incorporation of closed oil circuits to cool down the motor while lubricating the bearings, will contribute effectively to the reliability of VSD compressors. Moreover, a fan design with the circuit ensures high efficiency in cooling the mechanism and reduces the noise levels. As the maintenance of portable air compressors is a matter of concern leading to one-tenth of portable air compressors' costs associated with regular maintenance. However, the simplified design coupled with technological advances offers energy savings throughout the lifespan of the compressor. Therefore, vendors in the market are designing compressor systems that reduce the overall cost of the system. Such initiatives will fuel the portable air compressors market growth during the forecast period.
Key Market Trends
Transition to Tier 4 engine technology is one of the key portable air compressors market trends that is contributing to the market growth. Tier 4 engines are the significant sites that are the major source of emissions. The beneficiary attributes of the engines are that they are fuel-efficient and offer longer service intervals. In view of this, several vendors are developing portal air compressors using Tier-4 engines to provide efficient results to their end-users. For instance, Sullair 185 Portable Air Compressor is embedded with an LCD graphics display for indication of controls. The display facilitates air temperature readings, engine speed, and others. This portable air compressor model includes control over operating capacity with automatic unloaded start and inlet valve, complete fluid containment, among others. Such controlling features will propel the air compressors market growth during the forecast period.
Major Market Challenge
Uncertainty in global oil and gas prices is one of the factors hindering the portable air compressors market growth. Significantly, weather changes could have a significant impact on the pricing. For instance, the extreme cold would lead to an increased demand for heating oil, whereas extreme heat would reduce consumption and leads to a surplus in oil stocks. These factors can simultaneously lead to instability in the production and storage of crude oil, which will hinder the final production and supply of oil and gas. Typically, this leads to uncertainty in operational activities, which includes the complete processing of crude oil. Thus, this uncertainty has a negative impact on the demand for equipment and machinery required for the various processes. Moreover, as a major end-user, the oil and gas sector poses challenges to the growth of the global portable air compressors market due to uncertainty in the production and processing of crude oil.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Atlas Copco AB - The company offers portable air compressors such as Small air compressors and The large air range.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The manufacturing segments is estimated to witness significant growth during the forecast period. The manufacturing sector is considered as the major end-user of industrial air compressors due to the wide range of applications within the segment. Every manufacturing facility requires compressed air for several operations such as power tools, pneumatically controlled tools, glue and paint spraying, controlling and powering fixtures and clamps, shielding electronics while soldering, and a multitude of other purposes. The basic advantages of portable air compressors in this sector include reliability, consistency, durability, quality, and cost-effectiveness.
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The manufacturing segments accounted for USD 2.63 billion in 2018 and showed a gradual increase during the forecast period. The portable air compressors used in the manufacturing sector are designed to facilitate a range of applications by combining power, speed, precision, and safe handling. The production cost of compressed air is always weighed against parameters such as reliability, working speed, maintenance cost, and several other related factors. Most manufacturing companies rely on compressed air for some degree of automation, as the precision, flexibility, speed, and miniaturization of components is crucial in this sector.
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APAC is estimated to contribute 60% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.APAC is witnessing rapid industrialization and a significant focus on energy conservation, which have led to noteworthy developments in compressor technology in the region. China and India are the two countries that experience intense industrialization in the region and will contribute heavily to the development of the focused market. Technological innovation is another major factor driving the potential end-user markets, while the setting up of more manufacturing facilities because of the increase in demand is also witnessed in these emerging markets.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
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Conveyor systems play a vital role across industries, facilitating efficient material handling in worksites ranging from factories to distribution centers. They ensure streamlined operations with long runtimes and easy maintenance, enhancing productivity. In oil drilling, specialized equipment like reactor rods and coolant and steam circuit valves are crucial for safe and efficient extraction processes. Gas compressors are integral to remote projects and trailer-mounted designs, providing essential power and hp for various applications. For farms, equipment such as feed processors and air conditioners are essential for livestock management and maintaining optimal conditions. In DIY projects, cordless operation and low-noise operation tools are favored for their convenience and user-friendly design. Electricity powers everything from garage tools to garden equipment, supporting diverse designs and functionalities. The intersection of these technologies and applications highlights the versatility and necessity of specialized equipment across different sectors, contributing to efficiency, safety, and operational success in various industrial and agricultural settings.
Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.27% |
Market growth 2024-2028 |
USD 1.87 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.13 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 60% |
Key countries |
China, US, India, Germany, and Canada |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Atlas Copco AB, BAC Compressors, BAUER COMPRESSORS INC, Doosan Portable Power Co., Draper Tools Ltd., Elgi Equipments Ltd, Hitachi Ltd., Hubei Teweite Power Technology Co. Ltd., Ingersoll Rand Inc., KAESER KOMPRESSOREN SE, Kaishan Compressor USA, MAT Holdings Inc., Metabowerke GmbH, Mi T M Corp., Remeza JSC, Rolair systems, Satnam Pumps and Electricals, Stanley Black and Decker Inc., Sumake Industrial Co. Ltd., and Universal Air and Gas Products Corp. |
Market dynamics |
Parent market analysis, Market forecasting 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 |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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