Market Size of Air Compressor Industry
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 37.80 Billion |
| Market Size (2029) | USD 47.54 Billion |
| CAGR (2024 - 2029) | 4.69 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Air Compressor Market Analysis
The Air Compressor Market size is estimated at USD 37.80 billion in 2024, and is expected to reach USD 47.54 billion by 2029, growing at a CAGR of 4.69% during the forecast period (2024-2029).
- Over the medium term, soaring demand from natural gas sector and increasing demand from the refinery and petrochemical sector, are likely to support the air compressor market growth during the forecast period
- On the other hand, higher capital cost compared to traditional internal combustion engines is likely to hinder the market growth during the study period.
- Nevertheless, the technical advancement in the air compressor industry is leading to the development of products that requires less operational and maintenance investment. such as, oil-free systems are expected to get the opportunity in the industries which would reduce expenses related to maintenance during certain intervals.
- Asia-Pacific is estimated to witness a significant growth in the air compressor market due to the ongoing growth of the oil and gas industry in India, China, and Japan. A broad industrial base for semiconductor and electronics manufacturing in China and Taiwan is projected to drive the market further.
