Air Compressors Expanding the Industry Growth in Various Sectors

Introduction

According to Air Compressor Statistics, An air compressor is a machine that transforms power into stored potential energy in compressed air. This compressed air serves various roles in different industries, including powering tools, inflating tires, and operating machinery. Air compressors comprise vital elements, including a motor or engine, compressor pump, tank or receiver, pressure regulator, and safety valve.

Various types of air compressors, such as reciprocating, rotary screws, centrifugal, scroll, and axial compressors, cater to specific tasks. They have manufacturing, construction, automotive, HVAC, oil and gas, medical, and aerospace applications, making them indispensable instruments across industrial and commercial sectors.

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• The worldwide air compressor market was valued at USD 33,012.6 million in 2021 and is projected to witness a 3.1% compound annual growth rate (CAGR) from 2023 to 2032.
• The industrial air compressors market will reach USD 32.5 billion in 2030.
• Compressed air finds utility across a broad spectrum, with applications ranging from as low as 14 PSI to as high as 6004 PSI (1 to 414 bar), accommodating flow rates ranging from a mere 3.5 CFM (equivalent to 0.1m3) and beyond.
• Many compressors available at hardware stores and compressor dealers fall within the range of 125 to 175 psi (8.5 – 12 bar) regarding pressure.
• Compressed air systems are significant energy consumers, gobbling up approximately 10% of all industrial electricity consumption, totaling around 8.8 terawatt-hours (TWh) annually and resulting in CO2 emissions of 3,100 kilotons (kt) per year.
• The air conditioner market is expected to maintain its growth momentum, with projected revenues of USD 62.8 billion in 2023, USD 67.32 billion in 2024, and USD 71.82 billion in 2025.
• In 2022, the demand for room air conditioners had reached 99.9 million units.

Global Air Compressor Market Overview

• The worldwide air compressor market was valued at USD 33,012.6 million in 2021 and is projected to witness a 3.1% compound annual growth rate (CAGR) from 2023 to 2032.
• Manufacturing was the dominant sector in 2021.
• The Asia Pacific region accounted for 36.1% of the market share in 2021.
• The market is competitive, with notable industry leaders like AireTex Compressors, Atlas Copco, and BelAire Compressors.

Global Industrial Air Compressors Market

• Over the next decade, the industrial air compressors market is set to experience a steady and consistent rise in revenue at a CAGR of 3.5%.
• Starting at USD 25.0 billion in 2022, the market’s financial outlook appears promising, with projected figures indicating substantial growth.
• By 2029, the market is predicted to surpass USD 31.5 billion, further strengthening its position.
• As we progress into the 2030s, the industrial air compressors market is anticipated to reach USD 32.5 billion in 2030, and by 2032, it is expected to achieve an impressive milestone of USD 35.0 billion.

Basic Statistics About Compressed Air

• Atmospheric and compressed air are similar, comprising approximately 78% nitrogen, 20-21% oxygen, and around 1-2% water vapor, carbon dioxide, and other trace gases.
• Compressed air finds utility across a broad spectrum, with applications ranging from as low as 14 PSI to as high as 6004 PSI (1 to 414 bar), accommodating flow rates ranging from a mere 3.5 CFM (equivalent to 0.1m3) and beyond.
• A typical compressed gas cylinder stands at a height of approximately 4 feet and has a weight ranging from 75 to 80 pounds, including its contents, which are pressurized to levels as high as 2,200 pounds per square inch (psi).

Compressed Air Performance Metrics

Horsepower

• Horsepower gauges the motor’s effectiveness in an air compressor, considering a specific CFM and PSI. It indicates the machine’s operational capability and is a key attribute to consider when buying.
• A rule of thumb prevails in air compressors: each horsepower roughly equates to an output of about 4 to 5 cubic feet per minute (cfm) of compressed air, operating at a pressure of 100 pounds per square inch (psi).
• To illustrate, a one-horsepower compressor typically supplies approximately 4 to 5 cfm when working at 100 psi, whereas a ten-horsepower counterpart can yield roughly 40 to 50 cfm under the same pressure.
• Yet, when the need arises for higher pressure, say 125 psi, this general guideline loses its accuracy, demanding more horsepower to maintain the same output level.
• Furthermore, an interesting correlation exists: roughly 1 gallon of water is produced for every horsepower generated by a compressor.

Pressure (PSI)

• Regarding purchasing an air compressor, two primary specifications take the spotlight: pressure and capacity.
• Pressure is typically measured in units like bar or PSI (pounds per square inch).
• Many compressors available at hardware stores and compressor dealers fall within the range of 125 to 175 psi (8.5 – 12 bar) regarding pressure.
• However, the real differentiator lies in their capacity. The pressure requirement is determined by the specific tools or equipment you plan to use—think, “This nailer needs 100 psi,” or “The machine operates at 125 psi.”

Duty Cycle

• The duty cycle in air compressors relates to how often you can use them within a specific timeframe. For instance, when an air compressor boasts a 100% duty cycle, it can run non-stop without requiring breaks for cooling.
• On the other hand, standard compressors usually come with duty cycles ranging from 50% to 100%.

Efficiency and Energy Consumption of Air Compressors

• Compressed air systems are significant energy consumers, gobbling up approximately 10% of all industrial electricity consumption, totaling around 8.8 terawatt-hours (TWh) annually and resulting in CO2 emissions of 3,100 kilotons (kt) per year.
• Among these systems, roughly 15% utilize more than one compressor, contributing to an energy consumption of about 1.3 TWh or 470 kt of CO2 emissions each year.
• These compressed air systems remain in operation continuously for 8,000 hours annually.
• The cost of electricity stands at 11.14 pence per kilowatt-hour (kWh), and the associated carbon emissions for electricity usage are approximately 0.35156 kilograms of CO2 per kWh.

Cost-effectiveness of Air Compressors

• The realized annual savings for the compressed air system in Dayton, Tennessee, were examined through several recommendations.
• Installing a new compressor system and piping resulted in significant benefits, including energy savings of 292,283 kWh per year, equating to cost savings of $21,980 annually.
• The project incurred a cost of $27,800 and had a simple payback period of 15 months.
• Secondly, by eliminating nitrogen as a backup, an annual cost saving of $8,200 was achieved, with no associated project cost, rendering an immediate payback.
• Lastly, implementing an annual leak detection and repair program led to energy savings of 120,832 kWh per year, translating to cost savings of $9,100.

Air Conditioner- An Applicant of Air Compressor

Global Air Conditioner Market Revenue

• The air conditioner market has grown steadily in recent years, with its revenue figures reflecting this upward trajectory.
• In 2018, the market recorded a revenue of USD 49.68 billion; by 2019, it had increased to USD 52.11 billion.
• The air conditioner market is expected to maintain its growth momentum, with projected revenues of USD 62.8 billion in 2023, USD 67.32 billion in 2024, and USD 71.82 billion in 2025.
• The market’s expansion is anticipated to persist, with revenues reaching USD 76.23 billion in 2026, USD 81.2 billion in 2027, and USD 86.36 billion in 2028.

Global Demand for Air Conditioners

• Over the past decade, the global demand for air conditioners has shown a noteworthy trend.
• In 2012, the demand for room air conditioners stood at 85.11 million units, while packaged air conditioner demand was 12.49 million units.
• Over the subsequent years, we witnessed a gradual increase in these numbers. By 2017, the demand for room air conditioners had surged to 96.41 million units, and packaged air conditioner demand reached 14.57 million.
• While slight fluctuations occurred in the following years, 2019 marked a significant milestone, with room air conditioner demand peaking at 101.95 million units.
• The trend then began to recover, and by 2022, the demand for room air conditioners had reached 99.9 million units, while packaged air conditioner demand had surged to 17.87 million units.

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