Compressors Global Market Opportunities and Strategies to 2032

This report describes and explains the compressors market and covers 2017-2022, termed the historic period, and 2022-2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report evaluates the market across each region and for the major economies within each region.

The global compressors market reached a value of nearly $122,569.6 million in 2022, having grown at a compound annual growth rate (CAGR) of 4.3% since 2017. The market is expected to grow from $122,569.6 million in 2022 to $140,490.9 million in 2027 at a rate of 2.8%. The market is then expected to grow at a CAGR of 2.0% from 2027 and reach $154,911.5 million in 2032.

Growth in the historic period resulted from strong economic growth in emerging markets, innovative manufacturing infrastructure of modern systems, an increased automobile production and a growing number of food processing units.

Going forward, government support, rapid industrialization, an increasing demand for energy-efficient air compressors and rising demand for oil-free compressors in the food and beverage industry will drive the market growth. Factors that could hinder the growth of the compressors market in the future include stringent regulations, increasing financial losses and the Russia-Ukraine war.

The compressors market is segmented by type into air and gas. The air market was the largest segment of the compressors market segmented by type accounting for 71.6% of the total in 2022. Going forward, the gas market is expected to be the fastest growing segment in the compressors market segmented by type, at a CAGR of 2.9% during 2022-2027.

The compressors market is segmented by application into industrial manufacturing, oil and gas, automotive, HVAC-R, food and beverage, power, construction, chemical and cement and textile. The industrial and manufacturing market was the largest segment of the compressors market segmented by application accounting for 23.0% of the total in 2022. Going forward, the automotive market is expected to be the fastest growing segment in the compressors market segmented by application, at a CAGR of 2.9% during 2022-2027.

The compressors market is segmented by compressor type into positive displacement and dynamic. The positive displacement market was the largest segment of the compressors market segmented by compressor type accounting for 61.1% of the total in 2022. Going forward, the dynamic market is expected to be the fastest growing segment in the compressors market segmented by compressor type, at a CAGR of 2.8% during 2022-2027.

The compressors market is segmented by power rating into 101-300 KW, 0-100 KW, 301-500 KW and 500 KW above. The 101-300 kW market was the largest segment of the compressors market segmented by power rating accounting for 40.0% of the total in 2022. Going forward, the 500 kW above market is expected to be the fastest growing segment in the compressors market segmented by power rating, at a CAGR of 2.9% during 2022-2027.

Asia Pacific was the largest region in the compressors market, accounting for 47.4% of the total in 2022. It was followed by North America, and then the other regions. Going forward, the fastest-growing regions in the compressors market will be Eastern Europe and South America, where growth will be at CAGRs of 3.2% and 3.0% respectively. These will be followed by Asia Pacific and the Middle East, where the markets are expected to grow at CAGRs of 3.0% and 2.7% respectively.

The global compressors market is fragmented, with a large number of small players. The top ten competitors in the market made up to 7.12% of the total market in 2021. This can be due to the existence of number of local players in the market serving customers in particular geographies. Atlas Copco AB was the largest competitor with 2.03% share of the market, followed by Mitsubishi Heavy Industries Ltd. with 1.33%, Baker Hughes Co. with 0.86%, Ingersoll Rand Inc. with 0.74%, Siemens Energy AG with 0.58%, Hitachi Ltd. with 0.48%, Burckhardt Compression Holding AG with 0.34%, Elgi Equipments Ltd. with 0.30%, Ariel Corporation with 0.26% and Kobe Steel Ltd. with 0.20%.

The top opportunities in the compressors market segmented by type will arise in the air segment, which will gain $12,624.4 million of global annual sales by 2027. The top opportunities in segment by application will arise in the industrial manufacturing segment, which will gain $4,072.1 million of global annual sales by 2027. The top opportunities in segment by compressor type will arise in the positive displacement segment, which will gain $10,756.8 million of global annual sales by 2027. The top opportunities in segment by power rating will arise in the 101-300 kW segment, which will gain $7,154.6 million of global annual sales by 2027. The compressors market size will gain the most in China at $4,704.5 million.

Market-trend-based strategies for the compressors market include focus on innovative product launches, mergers and acquisitions, oil-free screw compressors, technology advancements, partnerships and collaborations, new facility expansions, increasing investments and rotary screw compressors.

Player-adopted strategies in the compressors market include focus on securing new contracts, strategic acquisitions and launching new products.

To take advantage of the opportunities, the publisher recommends the compressors companies to focus on innovative product launches, focus on oil-free screw compressors, focus on technology advancements, focus on increasing investments in new production facilities, expand in emerging markets, continue to focus on developed markets, focus on partnerships and collaborations, focus on mergers and acquisitions, provide competitively priced offerings, continue to use B2B promotions, continue to target fast-growing applications.