The global Compressors and Vacuum Pumps Market is anticipated at USD 35.8 billion in 2022. Demand is likely to remain high for compressors and vacuum pumps during the assessment period. this is due to the rising application of compressors and vacuum pumps across various end-use industries and garnering USD 57.8 billion in 2033, recording a CAGR of 4.4% from 2023 to 2033. The market is likely to secure USD 37.6 billion in 2023.
| Data Points | Key Statistics |
|---|---|
| Compressors and Vacuum Pumps Market Size Value in 2023 | USD 37.6 billion |
| Compressors and Vacuum Pumps Market Forecast Value in 2033 | USD 57.8 billion |
| Global Growth Rate | 4.4% |
| Forecast Period | 2023 to 2033 |
Key Factors Shaping the Demand Outlook of the Compressors and Vacuum Pumps Industry:
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| Attribute | Details |
|---|---|
| Historical CAGR (2018 to 2022) | 5.4% |
| Forecasted CAGR (2023 to 2033) | 4.4% |
Industries such as pharmaceuticals, food and beverage, electronics, and healthcare require compressors and vacuum pumps that provide oil-free and contamination-free air/gas.
Emerging markets, particularly in Asia-Pacific and Latin America, are witnessing rapid industrialization and infrastructure development. This creates a strong demand for compressors and vacuum pumps across various sectors.
Manufacturers are developing specialized equipment to meet the stringent requirements of these industries, ensuring product quality and safety. Manufacturers are expanding their presence in these regions to capitalize on the market opportunities. The compressor and vacuum pumps market is projected to show a noteworthy growth of USD 57.8 billion by the end of the forecast period of 2033.
Increasing Demand for Energy-Efficient Compressors and Vacuum Pumps to Drive the Market Growth
The demand for compressors and vacuum pumps market is projected to surge during the forecast period due to their application in various industries. The expanding industrial sector, particularly in developing economies, is driving the demand for compressors and vacuum pumps. Industries such as manufacturing, oil and gas, and chemicals require these devices for various processes.
Energy-efficient compressors and vacuum pumps are designed with advanced technologies, improved components, and optimized systems. They minimize energy losses and operate more efficiently, resulting in reduced energy consumption compared to conventional equipment. Thus the demand for energy-efficient compressors and vacuum pumps is high.
Increasing Demand from The Industrial Sector to Boost Market Growth
Compressors are widely employed to power pneumatic tools and machinery in industries. Pneumatic tools such as drills, grinders, sanders, impact wrenches, and spray guns rely on compressed air to operate. Compressors provide the necessary power to drive these tools, enabling efficient and precise operations in industries such as manufacturing, construction, automotive, and assembly lines.
Compressors and vacuum pumps are integral to various industrial processes. Compressed air is used for applications such as air agitation, aeration, cooling, drying, atomization, and combustion processes. Vacuum pumps are employed for vacuum distillation, filtration, degassing, and vacuum drying in industries like chemical processing, food and beverage, pharmaceuticals, and electronics manufacturing.
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Growing Demand for Energy-Efficient Compressors to Boost the Growth of the Compressors and Vacuum Pumps Market in the United States
The global compressor and vacuum pump market is expected to be dominated by North America. The market is anticipated to expand at a CAGR of 4.3% and is expected to accumulate a market value of USD 10.6 billion over the forecast period.
The industrial sector in North America is a major consumer of compressors and vacuum pumps. These devices are widely used in manufacturing processes, automotive production, metalworking, and other industries. The demand for compressors and vacuum pumps in the industrial sector is driven by the need for efficient and high-performance equipment.
With increasing technological advancements in North America the vacuum pumps market companies in the region are investing in research and development to develop innovative solutions, such as energy-efficient compressors, smart control systems, and remote monitoring capabilities.
Presence of Leading Market Players in the Region to Boost the Growth of the Market in the United Kingdom
Compressors and Vacuum Pumps sales in the United Kingdom are expected to keep rising with a CAGR of 4.1% and are expected to gain a market value of USD 2.3 billion by the end of the forecast period. Increasing application of compressor and vacuum pumps in automotive and pharmaceutical industries in the region drives the market growth.
The presence of several leading manufacturers, including Atlas Copco, Gardner Denver, Busch, Pfeiffer Vacuum, and Leybold in the region provide an opportunity for market growth during the forecast period.
Manufacturers in the compressors and vacuum pumps market focus on developing energy-efficient products, incorporating advanced technologies, and reducing carbon footprints. There is a growing demand for environmentally friendly and sustainable solutions in the region.
Rapid Industrialization to Drive the Growth of the Compressor and Vacuum Pumps Market in China
China’s compressor and vacuum pumps market is expected to rise at 4.3% CAGR between 2023 to 2033. The market is expected to gain a market value of USD 12.6 billion by the end of the forecast period. China accounts for the highest market share in the compressor and vacuum pumps market. The compressor and vacuum pump market growth in the region is driven by factors such as industrial expansion, construction projects, and the need for efficient and reliable equipment.
Compressors and vacuum pumps are essential equipment in construction and infrastructure projects, including pneumatic tools, cement plants, and wastewater treatment facilities. The infrastructure development in China drives the demand for compressors and vacuum pumps.
Positive Displacement Compressor Segment to Gain Significant Traction During the Forecast Period
Based on product type, the compressor and vacuum pump market is segmented into positive displacement compressors, dynamic compressors, rotary vacuum pumps, liquid ring vacuum pumps, diaphragm vacuum pumps, and other segments. The positive displacement compressors segment is expected to dominate the market in the forecast period. The segment is projected to exhibit a CAGR of 4.2% during the forecast period.
The positive displacement compression mechanism allows positive displacement compressors to deliver higher efficiency compared to other types of compressors, especially in applications that require high pressures. Positive displacement compressors are typically compact in size, making them suitable for applications with limited space.
Industrial Segment Generates High Revenue
Based on the application, the market is segmented into the industrial, residential, and commercial segments. Among all these industrial segments remains the top deployment category is expected to expand with a CAGR of 4.0% throughout the forecast period.
Compressors are widely used in industrial applications to provide pneumatic power. Compressed air is a versatile and convenient source of energy that can be used to operate pneumatic tools, machinery, and equipment.
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New players in the compressor and vacuum pump market are airlift system, Dekker vacuum technology, and Coaire technology among others, and are adopting various marketing strategies such as mergers and acquisitions, partnerships, and collaboration also the new product launches, geographical expansion, to identify the interest of potential buyers and create a larger customer base.
For instance:
Prominent players in the compressor and vacuum pump market are Aerzener Maschinenfabrik GmbH; Ariel Corporation; Atlas Copco AB; Baker Hughes Company; Bauer Compressors Inc. among others.
The key players in compressor and vacuum pumps are focusing on improved productivity and quality of their products in order to gain more customer base. The leading market players are also adopting strategies like extensive research & development activities, collaborations, and mergers & acquisitions. Some notable developments are as follows:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.4% from 2023 to 2033 |
| Market Value in 2023 | USD 37.6 billion |
| Market Value in 2033 | USD 57.8 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product Type, End-Use, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | Aerzener Maschinenfabrik GmbH; Ariel Corporation; Atlas Copco AB; Baker Hughes Company; Bauer Compressors Inc. |
The market is estimated to reach USD 57.8 billion by 2033.
The growth potential of the compressors and vacuum pumps market is 4.4% CAGR through 2033.
Increasing application in multiple end-use industries and advancements in technology are yielding market growth.
Growing demand for energy-efficient compressors and vacuum pumps is expected to generate product demand.
Technological advancements in the industrial sector are expected to create opportunity for market players.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Positive Displacement Compressors 5.2. Dynamic Compressors 5.3. Rotary Vacuum Pumps 5.4. Liquid Ring Vacuum Pumps 5.5. Diaphragm Vacuum Pumps 5.6. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Industrial 6.2. Commercial 6.3. Residential 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. MEA 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Aerzener Maschinenfabrik GmbH 15.2. Ariel Corporation 15.3. Atlas Copco AB 15.4. Baker Hughes Company 15.5. Bauer Compressors Inc 15.6. Becker Pumps Corporation 15.7. Burckhardt Compression AG 15.8. Busch LLC 15.9. Dekker Vacuum Technologies, Inc. 15.10. Ebara Corporation 16. Assumptions & Acronyms Used 17. Research Methodology
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Compressors and Vacuum Pumps Market
