Centrifugal Air Compressor Market Introduction 

A centrifugal air compressor is a type of compressor that utilizes centrifugal force to increase the pressure of air or gas. It consists of a rotating impeller that draws air or gas into the center of the impeller and then accelerates it outward. The accelerated air or gas then enters a diffuser where it is slowed down, increasing its pressure. Centrifugal air compressors are widely used in industries such as oil and gas, power generation, and manufacturing, for applications such as pneumatic tools, HVAC systems, and process air systems.

Centrifugal Air Compressor Market Size

The global centrifugal air compressor market size was valued at USD 8.7 billion in 2020 and is expected to reach USD 12.2 billion by 2025, growing at a CAGR of 6.9% during the forecast period. The growth of the market can be attributed to the increasing demand for energy-efficient compressors and rising industrialization in emerging economies. Additionally, the need for reliable and high-quality compressed air in various industries is also driving the growth of the market.

Centrifugal Air Compressor Market Share

In terms of market share, the centrifugal air compressor market is highly fragmented with a large number of players operating in the market. The major players in the market include companies such as Atlas Copco AB, Ingersoll Rand, Gardner Denver, Inc., Siemens AG, Mitsubishi Heavy Industries, Ltd., and Kobe Steel Ltd., among others.The Asia Pacific region is expected to hold the largest share of the centrifugal air compressor market during the forecast period, followed by North America and Europe. The growth in the Asia Pacific region can be attributed to the increasing industrialization, rising demand for energy-efficient compressors, and growth in the manufacturing sector in countries such as China and India. Additionally, the increasing investments in the oil and gas sector in the region are also contributing to the growth of the market.

Centrifugal Air Compressor Market Market Trends

Some of the market trends in the centrifugal air compressor market are:

Focus on energy efficiency: The demand for energy-efficient compressors is increasing, and manufacturers are focusing on developing compressors with higher energy efficiency. This is because energy-efficient compressors can help in reducing energy consumption and operational costs.

Adoption of IoT and Industry 4.0: The adoption of the Internet of Things (IoT) and Industry 4.0 in the manufacturing sector is driving the demand for smart and connected compressors. Manufacturers are incorporating IoT sensors and monitoring systems in compressors to enable predictive maintenance, reduce downtime, and improve overall efficiency.

Increasing use in the oil and gas sector: The centrifugal air compressor market is experiencing growth due to the increasing investments in the oil and gas sector. Centrifugal air compressors are extensively used in the oil and gas sector for various applications such as gas boosting, gas storage, and gas transportation.

Growing demand for portable compressors: There is a growing demand for portable centrifugal air compressors, especially in the construction and mining sectors. Portable compressors are compact and can be easily transported to different job sites, making them highly convenient for use in remote locations.

Development of oil-free centrifugal air compressors: The demand for oil-free compressors is increasing, especially in the food and beverage, pharmaceutical, and electronics industries, where the use of oil can contaminate the end product. Manufacturers are developing oil-free centrifugal air compressors to cater to this demand.

Centrifugal Air Compressor Market Driving factors

The growth of the centrifugal air compressor market is driven by several factors, including:

Growing industrialization: The growing industrialization in developing countries is creating a huge demand for centrifugal air compressors in various industries such as manufacturing, automotive, and construction, among others.

Increased adoption of energy-efficient products: The focus on energy efficiency has increased significantly in recent years due to the rising energy costs and concerns about greenhouse gas emissions. Centrifugal air compressors are more energy-efficient than other types of compressors, which is driving their adoption.

Advancements in technology: The development of new and advanced technologies such as magnetic bearings, variable speed drives, and IoT-enabled systems has increased the efficiency and reliability of centrifugal air compressors, making them more popular among end-users.

Growing demand for oil-free compressors: The demand for oil-free compressors is increasing due to the growing awareness of the harmful effects of oil contamination in compressed air systems. Centrifugal air compressors are oil-free and offer clean and reliable compressed air, which is driving their demand.

Expansion of the oil and gas industry: The oil and gas industry is a major end-user of centrifugal air compressors. The growth of this industry, particularly in emerging economies, is driving the demand for centrifugal air compressors.

Overall, the growing demand for energy-efficient and reliable compressed air systems, coupled with technological advancements, is expected to drive the growth of the centrifugal air compressor market in the coming years.

Centrifugal Air Compressor Market Regional Analysis

The centrifugal air compressor market can be analyzed on a regional basis, taking into account various factors such as economic development, industrial growth, and government initiatives for infrastructure development.

North America: The North American centrifugal air compressor market is expected to witness significant growth due to the increasing demand for efficient compressed air systems in various industrial applications, such as power generation, food and beverage, and oil and gas. The United States and Canada are the major contributors to the growth of the market in this region.

Europe: The European centrifugal air compressor market is also anticipated to grow considerably during the forecast period, owing to the presence of a well-established manufacturing sector and the growing demand for energy-efficient systems. Countries such as Germany, France, and Italy are expected to contribute significantly to the growth of the market in this region.

Asia Pacific: The Asia Pacific region is expected to witness the highest growth rate in the centrifugal air compressor market during the forecast period, due to the rapid industrialization and infrastructural development in countries such as China and India. In addition, the increasing adoption of compressed air systems in various industries, such as manufacturing, construction, and healthcare, is expected to drive the growth of the market in this region.

Middle East and Africa: The Middle East and Africa centrifugal air compressor market is expected to witness moderate growth during the forecast period, due to the increasing demand for energy-efficient systems and the growing focus on industrialization and infrastructure development in countries such as Saudi Arabia and the United Arab Emirates.

Latin America: The Latin America centrifugal air compressor market is also expected to witness moderate growth during the forecast period, due to the increasing demand for compressed air systems in various industries, such as mining, construction, and food and beverage. Brazil and Mexico are expected to be the major contributors to the growth of the market in this region.

Centrifugal Air Compressor Market Forecasts 2030 

The global centrifugal air compressor market size is projected to grow from USD 8.9 billion in 2020 to USD 12.2 billion by 2030, at a CAGR of 3.8% during the forecast period of 2020 to 2030.The report further states that the Asia Pacific region is expected to be the fastest-growing market for centrifugal air compressors due to the rapid industrialization and infrastructure development in countries such as China and India. In addition, the growing demand for energy-efficient compressors and the increasing use of compressed air in various industries such as manufacturing, oil & gas, and petrochemicals are expected to drive the growth of the market.The report also highlights the increasing use of centrifugal air compressors in the oil & gas industry for various applications such as gas boosting, gas gathering, and gas reinjection. Moreover, the demand for centrifugal air compressors in the power generation industry is also expected to increase due to the growing need for clean energy and the increasing use of natural gas for power generation.

Overall, the growth of the centrifugal air compressor market is driven by factors such as the increasing demand for energy-efficient compressors, the growing industrialization and infrastructure development in emerging economies, and the increasing use of compressed air in various industries.

Centrifugal Air Compressor Market Key Industry Players

Some of the key industry players in the centrifugal air compressor market include:

Atlas Copco AB

Ingersoll-Rand PLC

General Electric Company

Siemens AG

Mitsubishi Heavy Industries Ltd.

Hitachi Ltd.

Kobe Steel Ltd.

Gardner Denver Holdings Inc.

Elliot Group Ltd.

Howden Group Ltd.