Global compressors and vacuum pumps market analysis and insights
The global Compressors and Vacuum Pumps market estimated at US$54.7 billion in the year 2022 is now projected to grow at a CAGR of 4.77% and reach US$72.3 billion by 2028. Rapid economic development, industrialization, expansion in manufacturing bases, automation of industrial processes and massive investments in machinery, were largely responsible for the market’s strong evolution over the years.
Compressed air is a vital utility in manufacturing, process, assembly, mining industries as important as electricity, gas, chilled water, air handling, heating and cooling. It is generated onsite in close proximity to the location of consumption through electrically powered compressors and related equipment.
Compressed air powers a staggering array of industrial tasks given its safety over either electricity or gas. The importance of compressed air can be put into perspective by the fact that it has direct impact on process throughput, manufacturing productivity, efficiency, product quality, and process waste control. Compressors are therefore the most ubiquitous electromechanical workhorse equipment used widely in homes, commercial establishments, and industries such as heavy machinery, general manufacturing, engineering, water pumping, process industries, mining energy generation, oil and gas exploration and distribution, power plants, petrochemicals, automobile service centers, textiles and chemical industry, among others.
In the current era of machine-based manufacturing and industrialization, compressors represent ubiquitous and indispensable equipment. HVAC/air conditioning plants in hospitals, industries, commercial and residential buildings utilize compressors as the primary equipment to extract air from the atmosphere and compress it.
Many industries require vacuum pump systems and lines to run machinery and equipment. Technology advancements over the years have helped compressors and vacuum pumps to handle caustic and explosive materials, exhibit high abrasion resistance, and feature improved suction ability. Advanced compressor technologies have helped expand applications into myriad industries such as medicine and dairy farming.
Compressors and vacuum pumps regional market insights
North American compressors and vacuum pumps market is expected to grow significantly over the forecast period. This growth can be attributed to the increasing investments in the end-user industries, such as oil and gas, chemical, and power generation in the region. U.S. contributed around 78% of the total North American compressors and vacuum pumps market and is estimated to have a market value of US$13.4 billion in the year 2022. Among the other noteworthy geographic markets are Canada and Mexico, each forecast to grow at 4.38% and 2.71% respectively over the 2022-2028 period.
Asia Pacific compressors and vacuum pumps market is anticipated to witness an upsurge owing to the rapid urbanization and the growing industrial sector in the region. The presence of several small, medium & large chemical manufacturers in developing countries such as China and India will drive the regional market. China is expected to dominate the Asia-Pacific market and reach a market size of US$15.8 billion by 2028.
Within Europe, France, Germany, and the U.K. are the key countries responsible for the significant growth of the regional market. Germany is expected to grow at a fastest CAGR of 4.29% over the forecast period.
Meanwhile, the Middle East & Africa is expected to show limited growth due to the strong presence of under-developed countries in Africa who are still struggling to meet technology standards. However, any growth that the region experiences is expected to come from developing Middle Eastern nations such as Qatar, U.A.E, and Oman due to a similar growth pattern as the Asia Pacific.
Key players
Key players profiled in the report include Aerzener Maschinenfabrik GmbH; Ariel Corporation; Atlas Copco AB; Baker Hughes Company; Bauer Compressors Inc.; Becker Pumps Corporation; Burckhardt Compression AG; Busch LLC; Dekker Vacuum Technologies, Inc.; Ebara Corporation; Flowserve Corporation; Graham Corporation; Ingersoll Rand, Inc.; Pfeiffer Vacuum GmbH; Siemens AG; Sulzer Ltd.; Tsurumi Manufacturing Co., Ltd.; Tuthill Corporation; ULVAC Technologies, Inc., among others.
Competitive Landscape
June 05, 2023 — Danfoss has expanded its R290 compressor portfolio following the signing of a global agreement with Shanghai-based rotary compressor manufacturer Highly. This strategic agreement enables Danfoss to offer rotary technology to the residential heat pump market and some selective refrigeration applications. It also completes Danfoss’ R290-based programme for heat pumps. Danfoss will be selling the Highly compressors under the Danfoss-brand for OEMs and distributors within the residential heat pump market, while Highly will continue to sell Highly-branded rotary compressors via its existing channels.
May 22, 2023 — Atlas Copco, the specialist for high-quality vacuum solutions, is expanding its comprehensive vacuum pump portfolio with the side channel blowers DB series. Based on an efficient operating principle, the vacuum is created by the kinetic energy of the rotating impeller. The impellers are connected to the motor shaft and enable suction of the pumped medium, which is accelerated in the side channel. Side channel blowers are designed for applications where high flow rates are required. This makes the dry rough vacuum of the DB models suitable for rough industrial processes – such as drying, pneumatic conveying or suction processes. The modular design ensures high efficiency, reliable performance and quiet operation.
Compressors and vacuum pumps market scope
- By product type
- Compressor
- Positive displacement
- Reciprocating
- Rotary
- Dynamic
- Centrifugal
- Axial
- Mixed-flow
- Positive displacement
- Vacuum pump
- Positive displacement pump
- Momentum transfer pump
- Entrapment pump
- Others
- Compressor
- By type
- Compressor
- Stationary
- Portable
- Vacuum pump
- Stationary
- Portable
- Compressor
- By component
- Compressor
- Reciprocating type
- Frame
- Suction/ intake valve
- Delivery valve
- Cylinder
- Cylinder liner/ wall/ cooling water jacket
- Compressor casing
- Crank case
- Others
- Rotary type
- Housing
- Gears
- Bearings
- Shaft seals
- Vane
- Cylinder
- Others
- Centrifugal
- Impeller
- Casing and inlet
- Inlet nozzle
- Others
- Reciprocating type
- Vacuum pump
- Pumping unit
- Housing
- Motor
- Inlet and outlet
- Seals and gaskets
- Others
- Raw materials
- Electrical and electronic components
- Compressor
- By compression and vacuum pressure
- Pressure delivered / Pressure range
- Low-pressure air compressors
- Medium-pressure compressors
- High-pressure air compressors
- Very high pressure air compressors
- Vacuum
- Low vacuum
- Medium vacuum
- High vacuum
- Ultra-high vacuum
- Pressure delivered / Pressure range
- Compressors market by industry vertical
- Manufacturing
- HVAC
- Oil & gas
- Energy and power
- Chemicals and Petrochemicals
- Foods and beverages
- Medical and healthcare
- Pharmaceuticals
- Aerospace and defense
- Others
- Vacuum pumps market by industry vertical
- Manufacturing
- HVAC
- Oil & gas
- Energy and power
- Chemicals and Petrochemicals
- Foods and beverages
- Medical and healthcare
- Pharmaceuticals
- Aerospace and defense
- Others
- By Region
- North America
- South America
- Europe
- Asia Pacific
- Middle East and Africa
| Report Attribute | Details |
| No. of Pages | 298 |
| Published | June-2023 |
| Forecast Period | 2022-2028 |
| Estimated Market Size in 2022 | US$54.7 billion |
| Forecasted Market Size by 2028 | US$72.3 billion |
| CAGR | 4.77% |
| Regions Covered | North America, South America, Europe, Asia Pacific, Middle East and Africa |
| Companies Mentioned | AdvanSource Biomaterials Corporation; BASF SE; Celanese Corporation; Collagen Solutions Plc; Corbion N.V; Covestro AG; DuPont; Ensinger; Evonik Industries AG; Exactech; Foster Corporation; Henkel AG & Co.; Merck KGaA; Morgan Technical Ceramics; Nobel Biomaterials; Shin-Etsu Chemical Co. Ltd.; Stratasys Ltd. and Wacker Chemie AG, among others. |
The research report provides a comprehensive review of market trends (Technology, Product and Application analysis), market growth drivers, PEST Analysis (Political, Economic, Social and Technological Analysis) Market growth inhibitors, and strategic industry activities and SWOT Analysis of key players in the market. The report provides market estimates and forecast for geographic markets such as the North America (United States, Canada, Mexico and Rest of North America), South America (Brazil, Argentina Chile Colombia Peru Venezuela Ecuador and Rest of South America), Europe (Germany, France, U.K., Russia, Italy, Spain, Sweden, Netherlands, Poland, Austria, Belgium, Finland, Norway, Switzerland, Denmark, Czech Republic, Portugal and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Taiwan, India, Australia, Indonesia, Philippines, Malaysia and Rest of Asia-Pacific), Middle East (Iran, Turkey, Kuwait, UAE, Israel, Oman, Bahrain, Saudi Arabia, Qatar, Egypt and Rest of Middle East) & Africa.
Research Methodology
