Selbyville, Delaware, Nov. 14, 2022 (GLOBE NEWSWIRE) —
The industrial air compressor market is expected to cross a valuation of USD 26 billion by 2032, according to latest research study by Global Market Insights Inc.
The rapid digitization of industrial and manufacturing processes has driven the development of technologically advanced industrial air compressors. The advent of artificial intelligence (AI) and machine learning has proliferated automated manufacturing trends. Compressed air accounts for almost 30% of all plant energy expenditure and almost a third of the compressed air generated is wasted due to lack of oversight.
Industrial and manufacturing plant operators are rapidly adopting AI-powered prediction models to reduce energy costs and prevent unplanned shutdowns. AI models enable early detection of leaks, helping to reduce energy consumption and ultimately the plant’s carbon footprint. Continued innovation in machine learning models to detect anomalies in compressed air will positively influence the market dynamics of industrial air compressors.
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The industry share of the stationary product type is estimated to reach over USD 23 billion by 2032. A strong preference for industrial-scale stationary air compressors can be attributed to their cost effectiveness. Advances in electrification will help increase product accessibility. For example, an electrically charged stationary compressor costs 2-4 times less than a portable diesel compressor. Plus, the electric alternative allows for quieter, cleaner operations, making them durable and ideal for indoor applications. Stationary air compressors are larger, more powerful, and suitable for rental use in single-site industrial operations.
The industrial air compressor market revenue from the centrifugal technology segment is expected to exceed more than USD 6.5 billion by 2032. Due to lower resistance to changes in gas conditions, compressors of air centrifugals are less common. However, the growing interest in environmentally friendly industrial equipment is expected to increase the demand for these systems. Air compressors based on this technology are oil-free in design, allowing manufacturers to reduce maintenance costs and become sustainable. They help to prevent the risks associated with the contamination of the finished product and the deterioration of production equipment.
The compressor type with a power of 16-75 kW is expected to show a CAGR of 8% between 2023 and 2032. These compressors guarantee a smaller footprint, low maintenance requirements and higher reliability. They are widely used in automotive, textile, paper and food applications. Due to their compact size, improved energy efficiency and affordability, the demand for these air compressors will accelerate.
Energy and mining demand expected to be $2.5 billion industrial air compressor market sales by 2032. These compressors are widely deployed in all types of power plants such as thermal, hydroelectric and nuclear. Compressed air plays a crucial role in power plants using pneumatic equipment connected to boilers, precipitators, turbines, ash handling systems and generators. Power plants with highly fluctuating loads rely heavily on oil-free screw compressors to facilitate consistent pressure flow.
The industrial air compressor sector in Latin America is expected to achieve gains of 6% from 2023 to 2032. Over the past decade, LATAM countries have experienced dynamic growth in manufacturing output due to the easy availability of materials raw materials, profitable labor and vast land. Mexico has become a key manufacturing hub for investors around the world. Favorable land connectivity with North American markets enables manufacturers in the region to realize substantial profits.
The global industrial air compressor market landscape includes companies like Atlas Copco, Sullair LLC, Ingersoll-Rand plc, Rolair Systems, Doosan Portable Power, Sullivan-Palatek, Inc., Hubei Teweite Power Technology Company Limited, Elgi Compressors USA , Inc. , Heyner UK Ltd., Ciasons Industrial, Inc., Mat Holdings, Inc., Oasis Manufacturing, Aerzener Maschinenfabrik GmbH, Quincy Compressor, Vanair Manufacturing, Inc., VMAC Global Technology, Inc. (VMAC Company), Zen Air Tech Pvt. Ltd., Boge Compressors, Bauer Compressors, Inc., Air Squared, Emerson Climate Technologies, Inc. and Frank Technologies. These players focus on strategic partnerships and collaborations to advance product development.
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Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 360 Industrial Air Compressors Market0 summary, 2018 – 2032
2.1.1 Trade trends
2.1.2 Product trends
2.1.3 Technology trends
2.1.4 Lubrication trends
2.1.5 Power trends
2.1.6 Application trends
2.1.7 Regional trends
Chapter 3 Industrial Air Compressor Industry Overview
3.1 Industry Segmentation
3.2 Industry Landscape, 2018 – 2032
3.3 Industry Ecosystem Analysis
3.4 Industry Impact Forces
3.4.1 Drivers of growth
3.4.1.1 Rapid Industrial Growth in Asia Pacific and the Middle East
3.4.1.2 Technological developments in the field of air compressors
3.4.1.3 Mature manufacturing industry in the United States
3.4.2 Industry Pitfalls and Challenges
3.4.2.1 Strict regulations regarding the use of air compressors
3.4.2.2 Popularity of Air Compressor Rental Services
3.4.2.3 Strict emission standards around the world
3.5 Growth Potential Analysis, 2022
3.6 Innovation & sustainability
3.7 Regulatory landscape
3.8 Regional Price Trends
3.9 Cost structure analysis
3.10 Competitive Landscape
3.11 Porter’s analysis
3.12 PESTEL Analysis
3.13 COVID-19 Impact on Demand for Industrial Air Compressors, by Application
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, USA, is a global provider of market research and advisory services, offering syndicated and custom research reports as well as consulting services. growth. Our business intelligence and industry research reports provide clients with in-depth insights and actionable market data specially designed and presented to aid in strategic decision-making. These comprehensive reports are designed through proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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