Portable Air Compressor Market Size Report, Share, Growth and Analysis 2031

Coverage: Portable Air Compressor Market covers analysis By Technology (Rotary, Reciprocating, Screw, and Centrifugal), Lubrication (Oil-Free, Oil Filled), Application (Building & Construction, Manufacturing, Healthcare, Power Generation, Oil and Gas, and Others)

  • Report Code : TIPEL00002650
  • Category : Electronics and Semiconductor
  • Status : Upcoming
  • No. of Pages : 150
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The portable air compressor market is expected to grow from US$ 16.85 billion in 2022 to US$ 24.01 billion by 2030, estimated to grow at a CAGR of 4.5% from 2022 to 2030.

Analyst Perspective:

Air compressor demand is predicted to rise due to a growing emphasis on energy recovery, efficiency, and lowering CO2 emissions. Revenue growth is also anticipated over the projected period due to the increased demand for services and the monitoring of compressed air installations. The market is also expected to be driven by increased demand for air compressors from the food and beverage industry due to stricter laws on food safety and health. The Middle East and North America are predicted to see a rise in oil and gas extraction investments, which would help fuel the air compressor market's expansion.

The need for air compressors is increasing across major end-use sectors due to several causes, including the expanding adoption of variable-speed systems, low maintenance costs, efficient operation, and retrofitting for existing systems. The increased demand for energy-efficient compressors can be attributed to their economic functions. But worries about air quality have grown as gas compressor stations proliferate. As a result, air monitoring devices are placed widely to gauge the effects of gas and air compressors. The introduction of non-oil and gas-based projects and ongoing industry developments also drive the need for air compressors.

Leading companies are creating low-maintenance, environmentally friendly technologies to entice consumers to choose next-generation goods. Businesses like Ingersoll Rand Plc and Atlas Copco Inc. have created next-generation systems with high-performance capabilities to set themselves apart in a fiercely competitive industry. These air compressors have several significant benefits, such as lower noise levels and greater efficiency.

Market Overview:

Portable air compressors are cordless, easy, compact solutions used by many businesses in various industries to fulfill all the air compressing requirements, wherever and whenever required. Portable air compressors are widely preferred over their stationary counterparts due to their ability to provide the same high-quality functionality, despite being lighter and smaller than stationary air compressors. They are utilized in various industries for applications such as powering pneumatic tools in-car systems, construction sites and farms, air conditioners and pumps, and others.

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Portable Air Compressor Market: Strategic Insights

portable-air-compressor-market
Market Size Value inUS$ 16.85 billion in 2022
Market Size Value byUS$ 24.01 billion by 2030
Growth rateCAGR of 4.5% from 2022 to 2030
Forecast Period2022-2030
Base Year2022
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Market Driver:

Rise in the Oil and Gas Industry to Drive Growth of Portable Air Compressor Market

According to the International Energy Agency (IEA), in June 2023, the global oil demand is expected to rise by 6% between 2022 and 2028. It will reach up to 105.7 million barrels per day (mb/d) due to the growing demand for petrochemicals and the increasing need for oil in the aviation sector. In addition, the investments for the upstream segment in oil and gas exploration, extraction, and production are anticipated to reach their highest since 2015. They are projected to grow by 11% year-on-year to US$ 528 billion in 2023. Therefore, the rise in global oil demand and investment in the oil and gas industry contributes to oil and gas production, where portable air compressors and power equipment onshore and offshore allow easy and reliable production. In addition, they make up the framework for operating many remote processes, such as oil drilling, installation and removal of reactor rods, and control valves. Thus, market players launch solutions to cater to the industry's rising demand for oil and gas. For example, in January 2021, Sullair unveiled a Tier 3 OFD1550 oil-free portable air compressor for use at the plant, refinery, or job site. The product was introduced to meet the requirement for dedicated and backup oil-free plant air in refineries/petrochemicals, pipelines, power plants, and more.

In addition, the investment and expansion in the refineries is increasing due to the rise in oil and gas demand. For example, in April 2019, ExxonMobil invested in a multi-billion-dollar expansion of oil refineries in a manufacturing complex in Singapore to enhance the competitiveness of the Singapore facility further. According to the Economic Times, in January 2023, Pertamina, a refinery arm of an Indonesian state energy firm, announced that it was upgrading its old refineries and building new ones, increasing its processing capacity to more than 1.5 million barrels per day. Thus, such investments and new refineries generate the demand for portable air compressors and foster the growth of the market.

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Segmental Analysis:

Based on technology, the portable air compressor market is segmented into rotary, reciprocating, screw, and centrifugal. The rotary segment held the largest share of the portable air compressor market in 2022 and is anticipated to register the highest CAGR in the market during the forecast period. The market is segmented into oil-free and oil-filled based on lubrication. The oil-filled segment held the largest share of the portable air compressor market in 2022, and the oil-free segment is anticipated to register the highest CAGR during the forecast period. Based on application, the portable air compressor market is segmented into building and construction, manufacturing, healthcare, power generation, oil and gas, and others. The manufacturing segment held the largest share of the portable air compressor market in 2022, and building and construction are anticipated to register the highest CAGR in the market during the forecast period.

Regional Analysis:

The North American region dominated the portable air compressor market in 2022. North America has established itself as a dominant market. The North American portable air compressor market comprises the US, Canada, and Mexico. The adoption of automation is at the forefront across North American countries. The automation capabilities across the region are rapidly expanding to address various concerns such as operational efficiency, reduced human risk, and minimized production time. The major industries in North America integrating automation into their business processes include retail, oil and gas, utilities, agriculture, manufacturing, healthcare, and education. With the rise in the adoption of automation across these industries, the demand for advanced machinery and equipment is rising, generating the demand for portable air compressors to power machinery and equipment.

Moreover, there has been a rise in off-road and recreational activities among travelers worldwide. In April 2022, the Kampgrounds of America, Inc. (KOA), an American franchise of privately owned campgrounds, observed tremendous growth in new campers in the US and Canada. According to the survey conducted by the company, 40% of leisure trips resulted in camping, and ~80% of all leisure travelers choose camping or glamping for at least several trips. Nearly 57 million households stated that they went on at least one camping trip last year, an 18% increase in 2021 compared to 2020. The travelers also experienced that camping and outdoor activities reduce stress and improve their emotional well-being. In addition, various off-road racing events are being conducted across the globe. Off-road racing includes trucks, buggies, motorbikes, cars, and other modified vehicles. These off-road racing events are rising due to the growing interest of enthusiasts in adventurous sports that allow them to showcase their skills and vehicle' capabilities. A few racing events that take place in the US are AZOP (Kingman Grand Prix), LEGACY (Baja Nevada), SADR (Tequila 150), and CODE (VW Autopartes Night Race). Such events are conducted yearly due to their growing popularity. These activities are conducted in terrains as they help to determine the individual's position. In some regions, portable air compressors help inflate the camping air mattresses and vehicle tires used for off-roading activities, further fueling the market size.

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Regional Analysis:
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Key Player Analysis:

The portable air compressor market analysis consists of players such as ELGi, Ingersoll Rand Plc., Bauer Group, Kaeser Compressors, Atlas Copco, AireTex Compressor, TEWATT; Doosan; Quincy Compressor; and Vanair Manufacturing, Inc. Among the players in the market is a diversified product portfolio offered.

Recent Developments:

 

Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the portable air compressor market. A few recent key market developments are listed below: 

  • In March 2023, ELGi introduced a new GP35FP portable compressor. With this addition to the product portfolio, the company now offers nine models in its portable air compressor lineup ranging from 35 CFM to 900 CFM.
  • In March 2022, Xiaomi expanded its electric air compressor lineup by launching Xiaomi's portable electric air compressor 1S. The device features five inflating modes that are compatible with bikes, cars, electric vehicles, and more.
  • In May 2023, Atlas Copco unveiled an all-new battery-driven portable screw air compressor, Atlas Copco’s ‘B-Air,’ as the latest sign of its progressive shift to more sustainable products.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Technology, Lubrication, and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

The List of Companies

1. Tewatt
2. Gardner Denver
3. Atlas Copco
4. Ciasons Industrial Inc.
5. Vanair Manufacturing
6. Ingersoll-Rand plc
7. MAT Holdings, Inc.
8. Quincy Compressor LLC
9. Kaeser Compressors, Inc.
10. Doosan Group

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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