The global compressor market is expected to reach USD 47.9 billion by 2024, growing at a CAGR of 3.6% during the forecast period. Globally, 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 April 2017, Hitachi agreed to acquire Sullair Air Compressors from its parent company Accudyne Industries to access Sullair’s global sales network.
Different compressor types such as positive displacement and dynamic compressors contributed to the compressor market size. The market has witnessed a high demand for positive displacement in the coming years due to extensive acceptance throughout small and medium scale industries.
Automotive segment is expected to grow at the fastest rate in the compressor market during the forecast period
On the basis of application, the market is subdivided into construction, industrial manufacturing, power, chemical and cement, HVAC-R, automotive, textile, oil and gas, food and beverage, and others. Of all the applications, the automotive segment is expected to grow at the fastest rate in the market, owing to the mounting global automotive production and increasing standards of living and mounting disposable income across the globe.
Geographically, Asia-Pacific is observed to witness the fastest growth in the market, due to the mounting government support, and escalating growth of infrastructure development and rapid industrial development in countries such as India and China. In addition, government initiatives such as Made in India and Made in China 2025 are also creating a positive impact on the compressor market growth in the region.
Some of the players having prominent presence in the global compressor market include Atlas Copco AB, Gardner Denver Holdings Inc., Mitsubishi Heavy Industries Ltd., Sulzer, Hitachi, Kaeser Kompressoren SE, Toyota Industries Corporation, Danfoss, and Ingersoll-Rand plc.
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The report provides the market value for the base year 2018 and a yearly forecast till 2024 in terms of volume (‘000 Units), and revenue (USD Million). The report segments the global compressor market on the basis of compressor type, portability, lubrication type, pressure, application, and region.
Global Compressor Market Coverage
Compressor Type Insight and Forecast 2014-2024
Portability Insight and Forecast 2014-2024
Lubrication Type Insight and Forecast 2014-2024
Pressure Insight and Forecast 2014-2024
Application Insight and Forecast 2014-2024
Compressor Market by Region
Rest of the World (RoW)