As cited by the research report titled ‘Industrial Air Compressor Market Size By Product (Portable, Stationary), By Technology (Rotary [Screw, Scroll], Reciprocating, Centrifugal), By Power (Up to 15 kW, 16 - 75 kW, 75 - 500 kW, More than 500 kW), By Lubrication (Oil Free, Oil Filled), By Application (Food & beverage, Oil & gas, Energy & Mining, Semiconductor & electronics, Manufacturing, Construction & Municipal, Pharma, Agriculture/Farming), COVID19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with Market Study Report, global industrial air compressor market is projected to expand significantly over 2021-2027.
 

Growing demand for air compression systems in various applications to ensure optimal manufacturing efficiency is primarily driving the global industrial air compressor market growth.
 

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Speaking of power capacity, the up to 15 kW segment is likely to witness significant growth by 2027 recording a 6% CAGR over the forecast timeline. Meanwhile, the more than 500 kW segment seized a 25% market share in 2020.
 

Moving on to the application ambit, the food & beverage segment held 5%  share in global industrial air compressor market back in 2020 and is likely to accrue notable returns over the forecast timeframe, owing to rising use of industrial air compressors for various applications like packaging, food filling, product handling, and nitrogen generation.
 

Similarly, the oil & gas segment is expected to garner 5% market share by 2027, due to the increasing use of compressed air systems in the industry for applications including pipeline transportation, petroleum refining, and petrochemical synthesis, and others.
 

The report cites that global industrial air compressor market size from semiconductor & electronics application is poised to expand at 4.9% CAGR over the study duration on account of increasing scope of applications of air compressors in manufacturing processes in the industry. Meanwhile, the construction & municipal application segment is expected to garner a market share of 7.5% by 2027, owing to growing use of industrial air compressors in construction activities for enhancing the performance of on-site construction equipment.
 

Whereas, the agriculture/farming segment grabbed 10% market share in 2020 and is poised to showcase lucrative growth in the upcoming years, as these systems assist in development of innovative and efficient methods of crop production to cater the rising food requirement worldwide.
 

Considering the regional framework, Latin America market is reckoned to expand with 4.5% CAGR over 2021-2027 on account of rising product demand and increasing presence of manufacturers in the region.
 

Meanwhile, Middle East & Africa market holds a market share of 3% and is likely to witness lucrative growth by 2027 due to the expanding real estate sector and subsequent increase in construction activities.
 

Prominent players influencing the worldwide industrial air compressor industry trends are Frank Technologies Pvt Ltd., Emerson Climate Technologies Inc., Air Squared Inc., Bauer Compressors Inc., Boge Compressors (Boge Kompressoren Otto Boge Gmbh & Co. Kg), Zen Air Tech Pvt. Ltd., VMAC Global Technology Inc., Vanair Manufacturing Inc., Quincy Compressor LLC, Aerzener Maschinenfabrik GmbH, Oasis Manufacturing Inc., Mat Holdings Inc., Ciasons Industrial Inc., Hitachi Industrial Equipment Systems Co Ltd., Heyner UK Ltd., Elgi Compressors USA Inc., Hubei Teweite Power Technology Co. Ltd., Sullivan-Palatek Inc., Doosan Portable Power, Rolair Systems, Ingersoll Rand Inc., Kaeser Kompressoren SE, Ingersoll Rand Inc., Sullair LLC and Atlas Copco.