| Status : Published | Published On : Jan, 2024 | Report Code : VRSME9061 | Industry : Semiconductor & Electronics | Available Format :
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Page : 201 |
Global Compressor Market – Analysis and Forecast (2025-2030)
Industry Insights by Compressor Type (Positive Displacement (Reciprocating Compressors (In-Line, Diaphragm, Tandem Piston, Double-Acting, “v” Shaped and Single Acting) and Rotary Compressors (Screw, Lobe and Scroll, and Vane)) and Dynamic Compressors (Centrifugal and Axial Compressors)), by Portability (Portable and Stationary), by Lubrication Type (Oil-free and Oil-flooded), by Pressure (Ultra-low-pressure, High-Pressure, Medium-Pressure, Low-Pressure, and Hyper-Pressure), by Application (Construction, Industrial Manufacturing, Power, Chemical and Cement, HVAC-R, Automotive, Textile, Oil and Gas, Food and Beverage, and Others)
Industry Overview
The global compressor market size is projected to reach USD 55.7 billion from USD 41.3 billion in 2023 at a CAGR of 4.9% during the forecast period 2025 - 2030.
The size of the global compressor market is typically influenced by the different types including positive displacement and dynamic compressors. Additionally, factors such as the significant increase in the demand for such compressors in the refinery, petrochemical, and natural gas sectors propel the market growth. Also, the growth of the global compressor market is attributed to the growing number of automotive industries in emerging economies such as India and China. It is also the result of rapid industrialization.
Moreover, countries like China and India are expanding their natural gas infrastructure, further attributing to the growth of the compressors market.
Over the forecast period, there is also a growth in demand for natural gas expected, which will, in turn, lead to expansion of gas pipeline network. This will facilitate the growth of the compressor market on a global scale.
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Market Segmentation
Insight by Compressor Type
Depending on the type of compressors, the global compressor market is divided into positive displacement and dynamic compressors, where the former is further divided into rotary compressors and reciprocating compressors and the latter into centrifugal and axial compressors.
Furthermore, the rotatory compressors are further categorized as screw, lobe and scroll, and vane types and the reciprocating compressors into the in-line, diaphragm, tandem piston, double-acting, “v” shaped, and single acting compressors.
During the analysis period, it is expected that the demand for positive displacement compressors will be significantly high due to the widespread adoption in the small and medium-scale industries.
Furthermore, the varied advantages offered in the form of increased efficiency, lower cost, and comparatively smaller high-pressure ratio further facilitates the growth of the positive displacement compressor segment in the market.
Out of the two subdivisions of the positive displacement compressor segment, the rotary compressors segment will account for the larger share in the market.
Insight by Portability
The portability aspect of the compressors divides the global compressor market into portable and stationary segments. Among these two segments, the stationary compressors segment accounts for the larger share in the compressor market.
Insight by Lubrication Type
The lubrication type also divides the global compressor market into two segments namely, oil-free and oil-flooded. Out of these two segments, the oil-free category is expected to grow at a faster rate during the forecast period. This growth is typically attributed to the growing demand in the chemical and food & beverages industries.
Insight by Pressure
As per the pressure variances, the global compressor market is divided into ultra-low-pressure, low pressure, medium pressure, high pressure, and hyper pressure segments. Out of all these segments, the low-pressure segment accounts for the larger share of the market during the forecast period. This is due to its increased application in the textile, chemical, cement, and automotive industries.
Insight by End-User
The global compressor market is divided into the oil and gas industry, manufacturing sector, power sector, chemicals industry, petrochemical industry, and other segments based on the variety of end users.
Out of all these segments, the power sector is the most significant contributor to the market. This is mainly attributed to the Aisa-Pacific region where a widespread industrial infrastructure reform and construction is taking place. This is expected to grow the demand even further during the forecast period.
In addition, new power plants are also being constructed all over the region due to the growing demand for uninterrupted power supply in the industrial sectors for unhindered operations. This is also expected to facilitate the compressors market in this region during the projected period.
Global Compressor Market Report Coverage
|
Report Metric |
Details |
|
Historical Period |
2018 - 2023 |
|
Base Year Considered |
2024 |
|
Forecast Period |
2025 - 2030 |
|
Market Size in 2023 |
U.S.D. 41.3 Billion |
|
Revenue Forecast in 2030 |
U.S.D. 55.7 Billion |
|
Growth Rate |
4.9% |
|
Segments Covered in the Report |
By Compressor Type, By Portability, By Lubrication Type, By Pressure and By Application |
|
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
|
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, and Rest of the World |
Industry Dynamics
Industry Trends
There is an increase in the demand for multi-stage compressors and gas or steam turbines noticed in the industry due to the significant benefits such as lower noise, accurate speed management, and lower downtime.
The major players in the market across the globe are investing more on technologically advanced product development to cater to the growing needs.
Major players are also in the practice of acquiring other companies to access their global sales networks and expand their market.
There is a widespread adoption of positive displacement and dynamic compressors in the oil and gas industry including the upstream, midstream, and downstream sectors to facilitate compression for gas injection, transportation of gas, gas lift, gas gathering, and more.
The governments of several countries have also taken notable initiatives to reform their policies and encourage Foreign Direct Investment (FDI) across several industries, such as natural gas, petrochemicals, and refineries.
Growth Drivers
One of the most significant growth drivers of the global compressor market is the rising motor vehicle requirements. The growing gas pipeline network all over the globe is also pushing the global compressor market forward.
Also, the growing need for developed and more energy resourceful systems have also fueled the growth of the global compressor market. Typically, oil and coal are now being replaced increasingly by gas. This is the primary fuel used now by these industries of power generation or transportation of gas by companies.
As a result, the companies as well as the governments all over the world are expected to invest more on expanding and renovating their gas infrastructure so that they can meet the ever-growing demand for gas. This will consequently result in the growth of the compressor industry during the forecast period.
The increasing alternative of piston compressors with screw compressors, the fluctuations and uncertainties of prices of crude oil, and the increasing need for HVAC equipment are also considered to be a few other significant growth drivers for the global compressor market.
The increasing environmental concerns and awareness over the forecast period will force countries to plan for lower carbon emissions. As a result, they will shift traditional fossil fuel-based electricity generation techniques to the gas-based energy generation methods. This will raise the demand for compressors and it will continue during the forecast period, thereby helping the market to expand.
Furthermore, the LNG exports of a few specific countries such as the US is expected to double during the forecast period due to anticipated increase in international demand for natural gas. This is going to have a notable positive impact on the compressor market in these countries.
Challenges
The high initial cost restricts the sales and thereby the growth of the global compressor market. On the other hand, there will be a significant decrease in the dependency on coal and natural gas or other fossil fuel-fired power generation methods over the forecast period due to more solar and wind power installation. This will pose a serious threat to the compressor market.
Opportunities
The growing demand for eco-friendly and resourceful compressors and the rise in the number of automotive industries in developing countries such as India and China are creating new opportunities for growth of the global compressor market. Better opportunities are also created by the rapid industrialization efforts.
Moreover, a large number of compressor manufacturers are making efforts to develop more energy-efficient products to meet the continually changing energy efficiency standards and the growing end-user demands. This will create several opportunities for the compressor market in the future to facilitate global expansion.
Also, the use of compressed air for braking systems in the automotive sector to improve their performance and efficiency needs compressors to maintain a steady flow of compressed air. This has created new opportunities for the compressor market to grow.
Geographic Overview
North America holds a significant position in the global compressor market and is the larger contributor to the market. This is mainly due to the higher energy demand during hot and cold weather conditions or when the supply capacity of the pipeline is limited or inadequate to meet the increased demand for natural gas by other consumers. At these times, natural gas is stored on site as Liquefied Natural Gas or (LNG) in cryogenic tanks from natural gas pipelines after being liquefied on a modest scale.
The global compressor market in the Asia-Pacific region accounts for faster growth and is expected to continue doing so in the forecast period. This growth is typically attributed to the rising support from the governments, increased growth of infrastructure development, rapid industrial development, and government initiatives to promote country made products in countries such as India and China.
Competitive Insight
Key players in the compressor market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe. In
Atlas Copco is a Swedish multinational industrial company that was founded in 1873. It manufactures industrial tools and equipment. The Atlas Copco Group is a global industrial group of companies headquartered in Nacka, Sweden.
Gardner Denver Compressor manufactures blower and vacuum products with over 160 years of industrial innovation and provide manufacturing of critical compression and vacuum solutions and services. Company provide energy efficient, reliable and IoT connected air solutions to a broad range of applications and processes used in many industries.
Atlas Copco AB, Gardner Denver Holdings Inc., Mitsubishi Heavy Industries Ltd., Sulzer, Hitachi, Kaeser Kompressoren SE, Toyota Industries Corporation, Danfoss, and Ingersoll-Rand plc are the key players offering compressor.
Recent Developments by Key Players
Hitachi Global Air Power US, LLC(One of the industry leaders in compressed air solutions) have purchased Mountain Air Compressor Inc. (the long-time distributor of Sullair). Mountain Air Compressor provides sales and service of air compressors, accessories, air treatment products and related equipment.
CSD series compressors from Kaeser Compressors Inc., have been redesigned and now feature five models from 60 to 125 horsepower. They offer significantly improved efficiency over a wider range of flows and pressures. The capacities range from 261 to 693 cubic feet per minute at pressures ranging from 80 to 217 pounds per square gauge, or psig.
Primary Research
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry includes, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behaviour.
The Compressor Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
- By Compressor Type
- Positive Displacement
- Reciprocating
- In-Line
- “V” Shaped
- Tandem Piston
- Single-Acting
- Double-Acting
- Diaphragm
- Rotary
- Screw
- Vane
- Lobe and Scroll
- Reciprocating
- Dynamic
- Centrifugal
- Axial Flow
- Positive Displacement
- By Portability
- Portable
- Stationary
- By Lubrication Type
- Oil-Free
- Oil-Flooded
- By Pressure
- Ultra-Low-Pressure
- Low-Pressure
- Medium-Pressure
- High-Pressure
- Hyper-Pressure
- By Application
- Construction
- Power
- Industrial Manufacturing
- Heating, Ventilation, Air Conditioning and Refrigeration (HVAC-R)
- Chemical and Cement
- Automotive
- Oil and Gas
- Food and Beverage
- Textile
- Others
Region Covered in the Report
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries
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Source: VynZ Research
Source: VynZ Research
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Compressor Market