The global industrial air compressor market is estimated to grow at a CAGR of 6.2% during the forecast period. Rapid industrialization across emerging countries is primarily encouraging market growth. The growth in industrialization has witnessed in the emerging countries coupled with the increasing government initiatives to promote industrialization and the growing presence of multinationals in the country. For instance, Made in China (MIC) 2025 is a Chinese government initiative which was introduced in May 2015. The initiative includes a series of ambitious state-backed programs launched by the government of China. This is intended to modernize the Chinese economy, leverage productivity and make innovations that are a major driver for the country’s economic growth.
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The MIC 2025 plan signifies that the China’s manufacturing sector is large, however, not strong coupled with the gaps in innovation capacity, quality of industrial infrastructure, the efficiency of resource utilization and degree of digitalization. As a result, the government decided to conduct the task of upgrading and accelerating technological developments. China seeks to upgrade its economic model from a system where products are largely assembled in China by foreign multinational firms to a system where products made in China are invented. MIC 2025 seeks to move China up the manufacturing value chain by utilizing innovative manufacturing technologies or smart manufacturing.
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MIC 2025 is the first stage of a larger three-step strategy to transform China into a leading manufacturing power. The first step is for China to improve the overall quality of manufacturing, boost innovation and labor productivity, obtain an advanced level of information technology integration, reduce energy and material consumption, and develop multinational enterprises and industrial clusters. This shows government support for the expansion of industrial facilities in the country and thereby is boosting the global industrial air compressor market.
Air compressors have significant applications in the manufacturing industry, such as powering air tools, pressure testing components and paint and glue spraying. Other crucial applications in the manufacturing sector include powering pneumatically controlled tools and services, shielding electronics during soldering and among others. Multinational companies are expanding their R&D and manufacturing facilities in the country owing to the low cost of operations and availability of cost-effective labor, which in turn, contributes to the market growth. This initiative is aimed to modernize the industrial capability of the country and therefore, the plan includes upgrading China’s machinery industry that will be capable of manufacturing crucial machine goods with their self-innovation and intellectual property rights.
Additionally, this will enable to meet the country’s requirements in the transportation, energy, new material and agriculture equipment sectors. As a result, this will help contribute to the demand for an advanced and significant number of industrial machinery equipment. This, in turn, will increase the demand for computer numerical control (CNC) machinery, die and mold and robotics. CNC machines use industrial air compressors for several applications in the metal industry. With the use of industrial air compressors, pneumatic systems use industrial air compressors to power movements of robotics. This capability is potential during CNC machining motions, including lifting, transporting and placing products.
Compressed air cleans exposed surfaces to ensure that it is adequately dry during the CNC machining process. The dry air supports to keep metals free from corrosion and moisture all over the operations. Compressed air is utilized to control tool functions, including rapid tightening, clamping and release operations during the production process. The industrial CNC machines that use compressed air include plasma cutters, electric discharge machines, lathes, plasma cutters, CNC mills and water jet cutters. Hence, favorable government initiatives for the manufacturing sector is offering significant growth opportunity for the demand for advanced industrial machinery, which in turn, will likely propel the growth of the global industrial air compressor industry.
Industrial Air Compressor Market Segmentation
By Product
- Dynamic Displacement Compressors
- Positive Displacement Compressors
By Type
- Portable
- Stationary
By End-User
- Food and Beverage
- Oil and Gas
- Manufacturing
- Energy and Power
- Automotive
- Others (Construction and Mining and Healthcare)
Industrial Air Compressor Market – Segment by Region
North America
- US
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Atlas Copco AB
- BAUER COMPRESSORS, Inc.
- BOGE Anlagenbau GmbH & Co. KG
- Chicago Pneumatic
- Doosan Infracore Co. Ltd.
- Elgi Equipments Ltd.
- Elliott Group
- Gardner Denver, Inc.
- Hitachi Industrial Equipment Systems Co., Ltd.
- Howden Group
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
