Region:North America
Author(s):Shubham Kashyap
Product Code:KROD225
The US Air compressor market has witnessed remarkable growth in the last decade owing to different factors affecting the market. The growth of the market will remain steady in the future as the US air compressor market is anticipated to grow at a CAGR of 5.9% from 2022-2027. There are various factors that are influencing the market some of the main growth drivers of the market are high growth in the household appliance market, development of the automotive industry, technological advancements in air compressors, the mature manufacturing industry, and high demand from small-scale industries.
The US Air compressor market is leading the industry in the North America region. The market is rising significantly, although, the market is also facing a few restrains in its growth. Some of the restraints in the market are the high cost of raw materials, noise pollution, bulky size, release of contaminated compressed air, and others. The industry received setbacks during the global pandemic due to temporary lockdowns and travel bans. However, the market bounced back post-pandemic and witnessed remarkable growth. The industry recovered once again when the market worked at its full capacity after lifting the restrictions.
The US Air compressor market is highly competitive and active, with a wide range of competitors. There are both domestic and foreign companies operating in the US Air compressor market. Some of the significant players in the market are Atlas Copco, Sullair LLC, Gardner Denver Inc., Kaser Kompressoren, Ingersoll-Rand Plc, Rolair System, Elgi Compressor USA Inc., Hitachi Industrial Equipment Systems Co. Ltd., Ciasons Industrial Inc., Aerzener Maschinenfabrik Gmbh, Quincy Compressor, Bauer Compressors Inc, Emerson Climate Technologies Inc, Sullivan Palatek Inc, and Others.
All these market players are adopting various strategic initiatives to maintain their position in the market. Some of the recent developments in the market incorporate mergers and acquisitions, production capacity expansion, key associations, and product launches. Every major player in the market is investing hugely in technological advances and innovation to gain a competitive edge over the competitors. Further, the market is projected to witness a lot of entrants as the market continues to grow in the future.
By Product Type: The air compressor market is classified into three main categories based on the product type which are Portable, Stationary, and others. Stationary air compressors are leading the market in comparison to portable air compressors. This category of air compressors is dominating the market owing to their suitable use in a wide range of products and applications. Significant growth in the automotive industry is also one of the reasons behind the dominance of stationary air compressors in the US air compressor market. Another reason why portable air compressor is leading the market is because stationary compressors are very lightweight and are designed for easy transportation and mobility. Stationary air compressors also come in use at different places such as sites, DIY projects, workshops, and tasks that involve moving the compression to different places.
By Type of Application: The air compressor market is divided into six main types home appliances, Food & beverages, Oil & Gas, Energy, Commercial, and Healthcare. Home appliances are leading the application segmentation of air compression compared to the other five types. Home appliances are dominating the application segmentation as these appliances are highly used by consumers in their day-to-day lives. Home appliances air compressors are hugely utilised in refrigeration and air conditioning. Air compressors in refrigerators and air conditioning are used to circulate and uphold the desired temperature. Additionally, air compressors are also used in home appliance products like vacuum cleaners to create suction to effectively pick up dirt and debris from surfaces.
By type of Geography: The US Air compressor market is divided into four major regions: North, South, East, and West. The US Air compressor market is dominated by the northern part of the country. The states like New York, Massachusetts, Illinois, and Pennsylvania are leading the air compressor market in America. The reason behind the domination of this market is these states are characterized by a diverse economy. The region is home to major industries such as manufacturing, technology, and services. The manufacturing sector drives the demand for air compressors for automotive, machinery, and electronics manufacturing. These regions are home to many industries that contribute immensely to the market share.
Due to the wide variety of domestic and foreign goods available, the US Air compressor market is both competitive and dynamic. Numerous competitors of the business exist and sell different but identical products. Some of the big firms make significant investments in the R&D division and seek new technologies to further the development of Air compressor products in an effort to set themselves apart from the competition.
Atlas Copco, Sullair LLC, Gardner Denver Inc., Kaser Kompressoren, Ingersoll-Rand Plc, Rolair System, Elgi Compressor USA Inc., Hitachi Industrial Equipment Systems Co. Ltd., Ciasons Industrial Inc., Aerzener Maschinenfabrik Gmbh, Quincy Compressor, Bauer Compressors Inc, Emerson Climate Technologies Inc, Sullivan Palatek Inc, and Others are some of the significant players in the market. As the industry expands, new players are predicted to enter the market and help it develop even more. The competition will become more intense as the ecosystem's number of businesses grows, and each business will strive to provide customers with something distinctive and memorable.
The US Air compressor market is anticipated to grow at a CAGR of 5.9% from 2022 to 2027 with growth drivers like high growth in the household appliance market, development of the automotive industry, technological advancements in air compressors, the mature manufacturing industry, and high demand from small-scale industries.
US Air Compressor Market Segmentation |
|
By Type of Product |
Portable Stationary Others |
By Type of Application |
Home Appliances Food & Beverages Oil & Gas, Energy Commercial Healthcare |
By Region |
North West South East |
2.1 Taxonomy of the Market
2.2 Industry Value Chain
2.3 Ecosystem
2.4 Government Regulations/Initiatives for the Market
2.5 Growth Drivers of the US Air Compressor Market
2.6 Issues and Challenges of the US Air Compressor Market
2.7 Impact of COVID-19 on the US Air Compressor Market
2.8 SWOT Analysis
4. US Air Compressor Market Segmentation
4.1 By Product Type, 2017 - 2022
4.2 By Application, 2017 - 2022
4.3 By Regional Split (North/East/West/South/), 2017 - 2022
5.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
5.2 Strategies Adopted by Leading Players
5.3 Company Profiles Comparison
5.3.1 Atlas Copco
5.3.2 Sullair LLC
5.3.3 Gardner Denver Inc
5.3.4 Kaser Kompressoren
5.3.5 Ingersoll-Rand Plc
5.3.6 Rolair System
5.3.7 Elgi Compressor USA Inc
7.1 By Product Type, 2022 – 2027
7.2 By Application, 2022 - 2027
7.3 By Regional Split (North/East/West/South), 2022 - 2027
Ecosystem creation for all the major entities and referring to multiple secondary and proprietary databases to perform desk research around the market to collate industry-level information.
Collating statistics on the air compressor market over the years, penetration of marketplaces, and service providers ratio to compute revenue generated for the micro-lending products. We will also review product quality statistics to understand the revenue generated which can ensure accuracy behind the data points shared.
Building market hypotheses and conducting CATIs with industry experts belonging to different companies to validate statistics and seek operational and financial information from company representatives.
Our team has approached multiple US air compressor companies providing channels and understanding the nature of product segments and sales, consumer preference, and other parameters, which supported us in validating statistics derived through the bottom-to-top approach from air compressor providers.
The US air compressor market reached 27 billion USD in 2022 and is expected to reach 40 billion USD by 2028 with CAGR of 5.9% during the forecast period 2022-2027.
The key driving factors of US air compressor market are growth in household appliance market, high demand from small-scale industries, and technological advancements in air compressors.
By application, the market is segmented into home appliances, food & beverages, Oil & gas, energy, commercial and healthcare.
Atlas Copco, Sulliar LLC, Gardner Denver Inc, Kaser Kompressoren, Ingersoll-Rand Plc, Rolair System, Elgi Compressor USA Inc. are major companies of US air compressor market.
Increasing demand from end-user industries will provide huge opportunities to the market.
Maintainance of tools and equipment and high installation charges can hamper the growth of US air compressor market.
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