Industrial Air Compressor Market Size, Share, Growth Analysis, By Type(Reciprocating Air Compressors and Rotary Air Compressors), By End-User(Manufacturing, and Oil and Gas Industry) - Industry Forecast 2024-2031

Global Industrial Air Compressor Market size was valued at USD 33.4 billion in 2022 and is poised to grow from USD 36.01 billion in 2023 to USD 65.66 billion by 2031, growing at a CAGR of 7.80% during the forecast period (2024-2031).

The industrial air compressor market is being driven by several factors, including rapid industrialization and increasing automation in emerging economies, inflow of investments, and rising demand for oil-free compressors in the food & beverages industry. The surging demand from the HVAC industry is also contributing to the growth of the market. The chemical and petrochemical sectors are also adopting industrial air compressors due to their high efficiency and reliability. Governments around the world are introducing policies in line with Industry 4.0 to stay ahead in the ongoing technological and economic race. For instance, the Government of India has dedicated substantial resources and national policies to empower the nation’s industrial sector. The oil-filled lubricating air compressor market is projected to continue to grow as a result of advancements in compressor design and control systems. These air compressors are becoming more dependable and efficient in using energy because of new technology like variable speed drives, sophisticated control systems, and more effective compressor designs. The demand for a product, however, may also be impacted by modifications to industrial rules, particularly those pertaining to worker safety and environmental protection. The increasing focus on climate change has compelled government bodies to release stringent product guidelines, which may impede the growth of the industrial air compressor market. Because air compressors produce an oil-water blend condensate that, if improperly disposed of, might cause environmental deterioration, facilities utilising air compressors are required to abide by Environmental Protection Agency (EPA) standards.