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Compressors and Vacuum Pumps - Global Market Trajectory & Analytics

  • ID: 2832331
  • Report
  • January 2021
  • Region: Global
  • 546 Pages
  • Global Industry Analysts, Inc
Virus Induced Economic & Manufacturing Slump to Cost the Compressors & Vacuum Pumps Market US$ 2.1 Billion in Losses

The global market for Compressors & Vacuum Pumps is expected to plummet by -6% in the year 2020 and thereafter recover and grow to reach US$ 2.1 billion by the year 2027, trailing a post COVID-19 CAGR of 4.6% over the analysis period 2020 through 2027. Compressed air is a vital utility in manufacturing, process, assembly, mining industries as important as electricity, gas, chilled water, air handling, heating and cooling. It is generated onsite in close proximity to the location of consumption through electrically powered compressors and related equipment. Compressed air powers a staggering array of industrial tasks given its safety over either electricity or gas. The importance of compressed air can be put into perspective by the fact that it has direct impact on process throughput, manufacturing productivity, efficiency, product quality, and process waste control. Compressors are therefore the most ubiquitous electromechanical workhorse equipment used widely in homes, commercial establishments, and industries such as heavy machinery, general manufacturing, engineering, water pumping, process industries, mining energy generation, oil and gas exploration and distribution, power plants, petrochemicals, automobile service centers, textiles and chemical industry, among others. In the current era of machine-based manufacturing and industrialization, compressors represent ubiquitous and indispensable equipment. HVAC/air conditioning plants in hospitals, industries, commercial and residential buildings utilize compressors as the primary equipment to extract air from the atmosphere and compress it.

Hydraulic industrial machines both stationary and mobile utilize compressors to deliver high quality power for machine operation. Similarly, industrial refrigeration plants including cold storage, process cooling and freezing are major end-users of compressors. The compressed air contains kinetic energy which can be used for a variety of purposes such as operating pneumatic equipment like gantry cranes etc., cooling atmospheric air, for controlling robotic machines in assembly line plants, to vaporize paints, for blasting and cleaning operations, among others. Rapid economic development, industrialization, expansion in manufacturing bases, automation of industrial processes and massive investments in machinery, were largely responsible for the market's strong evolution over the years. Almost all industrial and manufacturing facilities and service industries require vacuum and compressor products. Vacuum pumps on the other hand, are used in heating and air-conditioning systems for maintaining sufficient air-pressure, for removing air from packaging, and liquid retrieval in industrial plants, and for removing air from molds during plastic injection molding processes. Many industries require vacuum pump systems and lines to run machinery and equipment. Technology advancements over the years have helped compressors and vacuum pumps to handle caustic and explosive materials, exhibit high abrasion resistance, and feature improved suction ability. Advanced compressor technologies have helped expand applications into myriad industries such as medicine and dairy farming. The market is characterized by cyclical demand patterns, technological innovations aimed at performance enhancements, and pricing pressures. Cyclicality of the market is largely influenced by plant expansion plans, plant utilization rates, and investments in new plants guided by macro-economic factors such as GDP growth.

The current slump in manufacturing is exerting a significant negative impact on the market. With roots in China, the world's supply chains are facing unprecedented disruption & shutdown. Interwoven with a demand crisis, the supply chain shocks are exerting a compounded blow to manufacturing companies worldwide. The worst affected industry in this pandemic driven crisis is manufacturing with its complex supply chains, labor intensive processes, and interdependencies. Division of labor, modular manufacturing strategies, outsourcing to reduce costs and increase the efficiency, consistency, and quality of each operations, have made the manufacturing sector most vulnerable amid the lockdown restrictions. An indication of the grim state of affairs is the fact that global manufacturing PMI is already declining and will fall to an estimated all-time low of 35.4 points in 2020 as compared to 53.8 in 2019. This indicates severe contraction of manufacturing activity including new orders, production, employment, supplier deliveries, inventories, customers' inventories, commodity prices, order backlog, new export orders, and imports. Global industrial output is plummeting sharply with the U.S posting steep declines of -16.5% & -15.2% in March & April 2020. Business investment confidence is tumbling amidst poor demand, falling profits, liquidity crunch and a reeling global economy. In short, the great lockdown of 2020 has crushed the global economy and with it the manufacturing sector.

Select Competitors (Total 396 Featured):
  • Aerzener Maschinenfabrik GmbH
  • Ariel Corporation
  • Atlas Copco AB
  • Baker Hughes Company
  • Bauer Compressors Inc.
  • Becker Pumps Corporation
  • Burckhardt Compression AG
  • Busch LLC
  • Dekker Vacuum Technologies, Inc.
  • Ebara Corporation
  • Flowserve Corporation
  • Graham Corporation
  • Ingersoll Rand, Inc.
  • Pfeiffer Vacuum GmbH
  • Siemens AG
  • Sulzer Ltd.
  • Tsurumi Manufacturing Co., Ltd.
  • Tuthill Corporation
  • ULVAC Technologies, Inc.
Note: Product cover images may vary from those shown
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Impact of Covid-19 and a Looming Global Recession
  • EXHIBIT 1: Global Reduction in CAPEX (in %) by Industry for FY2020
  • Weak Global Economic Environment & Negative Tide in GDP Forecasts Discourage the Market
  • EXHIBIT 2: World Economic Growth Projections (Real GDP, annual % Change) for 2019, 2020 & 2021
  • Industrial Activity to Remain Subdued in the Immediate Term, Inducing Weakness into the Market
  • EXHIBIT 3: Global PMI Index Points for the Years 2018, 2019 & 2020
  • EXHIBIT 4: Global Consumer Confidence Index Points for 4Q2019, 1Q2020 & 2Q2020
  • EXHIBIT 5: Business Confidence Index (BCI) Points for 3Q 2019, 4Q 2019, 1Q 2020, & 2Q 2020
  • Compressors and Vacuum Pumps: An Introduction
  • EXHIBIT 6: Ubiquity of Compressed Air Usage in Industries Worldwide (in GWh/Year)
  • Types of Compressors and Vacuum Pumps
  • Outlook
  • Competition
  • EXHIBIT 7: Market Share of Leading Players in Global Compressors & Vacuum Pumps Market: 2019
  • Recent Market Activity
  • EXHIBIT 8: World Market for Vacuum Pumps (2019): Percentage Market Share Breakdown of Leading Players
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • Strong Pressure to Cut Carbon Footprint Drives Demand for New Generation of Energy Efficient Compressors & Vacuum Pumps
  • EXHIBIT 9: High Compressor Energy Costs Drives Demand for Energy Efficient Compressed Air Systems: Annual Compressor Energy Costs (in US$) by Horsepower (HP) Generated
  • Business Focus on New Technologies & Skills
  • Industrial/Commercial Refrigeration & Food Processing Industry Drives Demand
  • EXHIBIT 10: World Commercial Refrigeration Equipment Market (in US$ Billion) for the Years 2015, 2019 & 2022
  • EXHIBIT 11: Global Processed Foods Market Revenues (in $ Billion) for the Years 2019, 2022 and 2025
  • Development of Piped Energy Networks Fuels Demand for Compressor Stations
  • EXHIBIT 12: Oil & Gas Pipeline Activity Worldwide: Under Construction and Planned Pipeline Miles by Region
  • Amidst the COVID-19 Outbreak, Oil & Gas Sector Confronts Challenging Times
  • EXHIBIT 13: Global Oil & Gas E&P Industry Spending (2015-2021E)
  • Impact on Compressors Market
  • Demand for Energy Drives Opportunities for Compression Solutions in Power Generation Plants
  • EXHIBIT 14: Global Energy Production by Energy Source (2030 & 2040): Breakdown of Electricity (Billion Kilowatt Hours) and Percentage Share for Petroleum, Nuclear, Natural Gas, Coal and Renewables
  • Commercial Rise of Compressed Air Energy Storage Technology & Plants to Fuel Demand for Compressors
  • Semiconductor & Electronics Industry Drives Demand for Instrument Air Compressor
  • Slowdown in Semiconductor Sector Impacts Growth
  • EXHIBIT 15: Semiconductor Fab Equipment Spending Growth in %: 2018-2021
  • Recovery in Automobile Production Trends to Drive Demand for Compressed Power Air in Auto Manufacturing Plants
  • COVID-19 Impact on Automobile Industry
  • EXHIBIT 16: World Automobile Production in Million Units: 2008-2022
  • Commercial Aircraft Production and Prospects for Compressors in the Aerospace Sector
  • COVID-19 Pandemic Dents Airline Revenues
  • EXHIBIT 17: Commercial Airline Revenue Growth (in %) for 2010-2020E
  • COVID-19 Leaves Engine MRO Market in Turmoil
  • Focus on Quality of Care Drives Demand for Innovative Medical Air Compressors and Vacuum Systems
  • EXHIBIT 18: World Healthcare Expenditure (In US$ Billion) for the Years 2017-2023
  • Sought After Features For Medical Compressors
  • COVID-19 Underscores Critical Significance of Air Compressors
  • Focus on Quality of Compressed Air Drives the Popularity of Oil-Free Compressors & Vacuum Pumps
  • The Rising Wave of IIoT & the Ensuing Focus on Automation & Remote Monitoring Throws the Spotlight on Smart Compressors
  • EXHIBIT 19: Major Industry 4.0 Technologies: Global Market Size (US$ Billion) for Internet of Things (IoT), Big Data, Smart Factory, Advanced Analytics, Service Robotics, and Smart Machines for 2020
  • Smart Pumps Aid in Modernizing Press Functions
  • Automation to Play a Critical Role Post COVID-19
  • EXHIBIT 20: Global Industrial Automation Market (in US$ Billion) for the Years 2019, 2022, 2024 and 2026
  • Technology Advancements & Innovations
  • Advances in Compressor Technology
  • Variable Speed Drive Technology to Improve Compressor Speed
  • Smart Portable Compressors
  • Use of Dual motors
  • Contactless Technology
  • Manufacturers Offer Smart Solutions for Vacuum Pumps
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS
  • GEOGRAPHIC MARKET ANALYSIS
  • UNITED STATES
  • Market Overview
  • Competition
  • EXHIBIT 21: Market Share of Leading Players in the US Air Compressors Market (2019):
  • Market Analytics
  • CANADA
  • JAPAN
  • CHINA
  • Market Overview
  • Gas Compressor Market
  • Piston Compressors Market
  • Diaphragm Compressors Market
  • Screw Compressors Market
  • Market Analytics
  • EUROPE
  • Market Overview
  • Market Analytics
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • AUSTRALIA
  • INDIA
  • Market Overview
  • Market Analytics
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • IRAN
  • ISRAEL
  • SAUDI ARABIA
  • UNITED ARAB EMIRATES
  • REST OF MIDDLE EAST
  • AFRICA
IV. COMPETITION
  • Total Companies Profiled: 729
Note: Product cover images may vary from those shown
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