The air compressor market is expected to witness significant growth by 2027 primarily driven by the mounting product demand across varied end-use verticals. Moreover, increasing focus of manufacturers on product development through integration of advanced technologies is also projected to fuel market demand over the forecast period.

The COVID-19 outbreak had a colossal impact on the global healthcare infrastructure and created unprecedented demand for all kinds of equipment necessary for medical procedures. The widespread need for high-quality medical grade compressed air for carrying out different processes, such as decontamination and sanitization, among others, has proliferated market adoption across the globe.

Furthermore, industry players have been expanding their offerings to deliver products that fulfill consumer requirements, which has improved the product landscape. For instance, in June 2021, BendPak, a manufacturer of commercial-grade lifts, introduced its complete line of air compressors – Patriot Series. The new series includes efficient and industrial-strength air compressors for home garages or shops and comes with different power options to suit customer requirements.

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Additionally, market leaders are also undertaking strategic alliances in order to enhance their consumer reach, which has been favorable for industry expansion worldwide. Citing an instance, in June 2021, Atlas Copco, the Swedish industrial equipment manufacturer, acquired Airflow Compressors & Pneumatics, a compressed air system solutions provider operating mainly out of the North West of England.

The air compressor market has been segmented based on product, technology, lubrication, application, and region. In terms of application, the market has further been categorized into food & beverage, transportation, home appliances, healthcare, oil & gas, commercial, energy, manufacturing, mining & construction, and others.

The energy application segment is estimated to garner a sizable revenue by 2027, expanding at a CAGR of around 1.3% through the assessment period. In 2020, the commercial sub-segment accounted for nearly 20% of the air compressor market revenue and is projected to grow at a steady pace over 2021-2027.

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The manufacturing application segment is calculated to gain over 15% share in the air compressor market by 2027. The air compressor market from the transportation sub-segment is set to witness robust growth by 2027 at a CAGR of approximately 4.2% through the forecast timeline. The healthcare sub-segment is anticipated to attain a volume share of around 5% in the air compressor market by 2027.

The mining & construction application segment held a volume share of about 2% in the air compressor market in 2020 and is speculated to see considerable growth by 2027. The air compressor market from the others application segment is projected to see notable expansion by 2027, progressing at a CAGR of around 2.4% through the estimated time period.

From the perspective of region, the Latin America air compressor market is anticipated to exhibit substantial growth by 2027 at a CAGR of nearly 3.1% through the forecast period. In 2020, the Middle East & Africa region held a volume share of around 5% in the air compressor market and is likely to expand at a robust pace through the assessment timeframe.