Air Compressed Equipment Market Size

Market Outlook:

Air Compressed Equipment Market crossed USD 18.54 Billion in 2023 and is expected to reach USD 28.84 Billion by end of the year 2032, observing around 5.7% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 18.54 Billion
• CAGR (2024-2032): 5.7%
• Forecast Year Value (2032): USD 28.84 Billion
• Historical Data Period: 2019-2023
• Largest Region: North America
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

One major growth driver for the air compressed equipment market is the increasing demand for compressed air in various industrial applications. With the growing automation and digitization of industries, the need for compressed air for operating pneumatic tools, machinery, and equipment is on the rise. This has led to a significant increase in the adoption of air compressed equipment by manufacturing, construction, automotive, and other sectors.

Another significant growth driver for the market is the rapid expansion of the oil and gas industry. The oil and gas sector heavily relies on compressed air for various operations such as drilling, exploration, refining, and transportation. As the demand for oil and gas continues to grow globally, the need for reliable and efficient air compressed equipment is expected to surge, driving the market growth.

Furthermore, the increasing focus on energy efficiency and sustainability is propelling the adoption of energy-efficient air compressed equipment. Companies are increasingly shifting towards eco-friendly solutions to reduce their carbon footprint and operational costs. This trend is driving the demand for advanced air compressed equipment that offers high energy efficiency, reduced emissions, and optimal performance.

Industry

Report Scope

Report Coverage	Details
Segments Covered	Component, End-Use Industry
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Atlas Copco, Bitzer, Campbell Hausfeld, Chicago Pneumatic, Ciasons Industrial, Elgi Equipments, Ingersoll Rand Plc, KAESER Kompressoren SE, Oasis Manufacturing, Powerex, Quincy Compressor, Rolair Systems., Sullair LLC, Van Air Systems, Vanair Manufacturing, Inc

One of the major restraints faced by the air compressed equipment market is the high initial cost associated with the installation and maintenance of compressed air systems. The capital investment required for purchasing and setting up air compression equipment can be a significant barrier for small and medium-sized enterprises, limiting their adoption. Additionally, the ongoing maintenance and operational costs further add to the overall expenses, making it challenging for businesses to invest in air compressed equipment.

Another restraint for the market is the volatility in raw material prices, especially metals like steel and aluminum, which are essential for manufacturing air compression systems. Fluctuations in raw material prices can significantly impact the production costs of air compressed equipment manufacturers, leading to price variations and potentially affecting the market growth. Manufacturers need to closely monitor and manage their supply chain to mitigate the impact of volatile raw material prices on the overall profitability and competitiveness of their products in the market.