The Rotary Air Compressor Market is projected to grow by USD 2.60 Billion (2024-2028), driven by increasing HVAC installations and AI-powered market evolution - Technavio

Oct 09, 2024, 17:15 ET

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NEW YORK, Oct. 9, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The Global Rotary Air Compressor Market size is estimated to grow by USD 2.60 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 3.27% during the forecast period. Rising number of HVAC installations is driving market growth, with a trend towards mergers and acquisitions. However, fluctuations in raw material prices poses a challenge - Key market players include Atlas Copco AB, Berkshire Hathaway Inc., Curtis Toledo Inc., Deere and Co., Doosan Corp., Dover Corp., Elgi Equipments Ltd, Frank Technologies Pvt Ltd, G and E Industrial Supplies Inc, Hitachi Ltd., Ingersoll Rand Inc., KAESER KOMPRESSOREN SE, Kirloskar Pneumatic Co. Ltd., Kobe Steel Ltd., Mitsubishi Heavy Industries Ltd., Siemens AG, Sulzer Ltd., VMAC Global Technology Inc, and Volkswagen AG.

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Rotary Air Compressor Market Scope

Report Coverage

Details

Base year

2023

Historic period

-

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 3.27%

Market growth 2024-2028

USD 2607.8 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

3.13

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 42%

Key countries

China, US, Germany, Japan, and UK

Key companies profiled

Atlas Copco AB, Berkshire Hathaway Inc., Curtis Toledo Inc., Deere and Co., Doosan Corp., Dover Corp., Elgi Equipments Ltd, Frank Technologies Pvt Ltd, G and E Industrial Supplies Inc, Hitachi Ltd., Ingersoll Rand Inc., KAESER KOMPRESSOREN SE, Kirloskar Pneumatic Co. Ltd., Kobe Steel Ltd., Mitsubishi Heavy Industries Ltd., Siemens AG, Sulzer Ltd., VMAC Global Technology Inc, and Volkswagen AG

Market Driver

The rotary air compressor market is experiencing heightened competition among vendors, leading to intense focus on price, product quality, efficiency, supply chain, and product diversification. To sustain and expand market shares, several rotary air compressor manufacturers are resorting to mergers and acquisitions (M&A). By combining the activities of both companies, vendors can reduce production costs and enhance performance. M&A activity in the global rotary air compressor market is high, with instances such as Atlas Copco's acquisition of Quincy Compressor and Gardner Denver's merger with Ingersoll Rand. Elgi Equipments' acquisition of Michigan Air Solutions is another example of M&A aimed at expanding market presence. This trend is expected to continue as the market reaches maturity, with vendors seeking to acquire potential market shares and improve distribution channels.

The Rotary Air Compressor market is experiencing significant growth due to its widespread application in various industries. Key sectors driving this trend include chemicals, power generation, mining, and the construction sector. In industrial facilities, compressed air is essential for powering tools and automation in manufacturing processes. Rotary air compressors, specifically rotary screw and rotary vane compressors, are popular choices due to their energy efficiency and reliability. The market is also expanding in sectors like medical devices, consumer goods, semiconductor & electronics, pharmaceuticals, food & beverage, energy & mining, and aerospace. Power consumption and electricity bills are major concerns, leading to the adoption of more energy-efficient rotary air compressors. Additionally, rotary air compressors are crucial in automation, robotics, medicine, healthcare, wind energy, solar energy, e-commerce, and logistics operations. The lubrication method used in rotary air compressors is also a factor influencing market growth, with electric motor-driven compressors gaining popularity due to their lower maintenance requirements and cost-effectiveness compared to internal combustion engine models.

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Market Challenges

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Segment Overview

This rotary air compressor market report extensively covers market segmentation by

1.1 Manufacturing industry- The Rotary Air Compressor Market is experiencing significant growth due to increasing demand from various industries such as manufacturing, construction, and automotive. These compressors offer advantages like continuous operation and high efficiency. Key players in this market include Atlas Copco, Ingersoll Rand, and Kaeser Kompressoren. Market growth is driven by factors like rising industrialization and infrastructure development in emerging economies. Companies are focusing on product innovation and expanding their global presence to cater to this demand.

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Rotary air compressors are a crucial component in various industries, providing compressed air for powering pneumatic tools and systems. These compressors, which include rotary vane, lobe, and screw types, offer efficiency and reliability in industrial settings. The integration of IoT technology in rotary air compressors enhances their performance and maintenance, allowing real-time monitoring and predictive maintenance. Rotary air compressors find extensive applications in sectors such as oil & gas, waste management, chemicals, power generation, mining, consumer goods, semiconductor & electronics, pharmaceuticals, food & beverage, and energy & mining. The oil & gas industry relies on rotary air compressors for drilling and production operations, while the oil & gas sector uses them for fuel compression and processing. Rotary air compressors come in various configurations, such as electric motor and internal combustion engine driven. Rotary screw compressors are popular for their energy efficiency and high-pressure capabilities. Regardless of the application or industry, rotary air compressors play a vital role in ensuring the smooth operation of businesses and maintaining productivity.

Market Research Overview

Rotary air compressors are a vital component in various industries, providing consistent compressed air for pneumatic solutions in industrial settings. The integration of IoT technology enhances their functionality, allowing for remote monitoring and predictive maintenance. Rotary air compressors find extensive applications in sectors like oil & gas, energy, and process industries. In the oil & gas industry, they power drilling operations and provide lubrication and cooling in refineries. Oil-free rotary air compressors are popular in the chemical & materials, pharmaceutical, food & beverage, and medical device industries due to their ability to produce clean air. Rotary screw compressors and rotary vane compressors are common types of rotary air compressors, with electric motors and internal combustion engines powering them. The stationary segment dominates the market, with significant demand from construction, mining, power generation, and other industrial facilities. The adoption of cost-effective rotary air compressors is increasing in sectors like aerospace, automation, robotics, medicine, healthcare, wind energy, solar energy, e-commerce, and logistics operations. Rotary air compressors are essential for powering pneumatic tools and equipment, reducing electricity bills, and ensuring efficient operations in various industries.

Table of Contents:

1 Executive Summary2 Market Landscape3 Market Sizing4 Historic Market Size5 Five Forces Analysis6 Market Segmentation

7 Customer Landscape8 Geographic Landscape9 Drivers, Challenges, and Trends10 Company Landscape11 Company Analysis12 Appendix

About Technavio

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With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/

SOURCE Technavio