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India Compressor Market Research Report: By Type (Positive Displacement, Dynamic), Lubrication Type (Oil-Free, Oil-Flooded), Portability (Portable, Stationary), Pressure (Ultra-Low-Pressure, Low-Pressure, Medium-Pressure, High-Pressure, Hyper-Pressure), Application (Construction, Power, Industrial Manufacturing, HVAC-R, Chemical and Cement, Automotive, Oil and Gas, Food and Beverage, Textile) - Industry Analysis and Growth Forecast to 2030

  • Published: October 2020
  • Report Code: SE11663
  • Available Format: PDF
  • Pages: 116

India Compressor Market Overview

The Indian compressor market size was $1,943.4 million in 2019, and it is projected to advance at a CAGR of 6.2% during the forecast period (2020–2030). The growing automotive sector in India is expected to drive the demand for compressors. Additionally, the manufacturing sector in India is growing rapidly and is expected to reach $1 trillion by 2025, owing to the constant support from the government.

The COVID-19 pandemic has impacted the Indian compressor industry. Textile, oil & gas, chemical & fertilizers, cement, and automotive industries are the major end users of compressors. Due to the lockdown implemented by both central and state governments, production processes at end user level have slowed down, which, in turn, has reduced the demand for compressors in the country.

India Compressor Market

Rising Demand for Dynamic Compressor Driving India Compressor Market Growth

In the Indian compressor market, on the basis of type, the dynamic compressor category is projected to advance at higher CAGR during the forecast period. This is majorly attributed to the higher consumption of compressors in a number of industries, such as oil & gas, steel, and cement, in the country. Moreover, increasing government initiatives pertaining to energy-efficient solutions augment the demand for dynamic compressors.

Centrifugal Compressor to Continue Market Dominance during Forecast Period

In the Indian compressor market, under dynamic compressors, centrifugal compressor was the larger-revenue-generating category in 2019. This category is further projected to continue its dominance in the market during the forecast period. It is noted that more than 90% of the centrifugal compressor market in India is organized, with majorly large manufacturers producing compressors, owing to their complex design and relatively high investment requirement.

Rising Demand for Stationary Compressor in the Country to Accelerate Market Growth

In the Indian compressor market, the stationary category, under the portability segment, is growing significantly. This is primarily attributed to the high growth in the automotive and manufacturing industries in the country. Stationary compressors are suitable for automotive applications, such as rotating tires and other small tasks.

Medium-Pressure Compressor Dominates the India Compressor Market

In the Indian compressor market, the medium-pressure category, under the pressure segment, generated the largest revenue in 2019. Medium-pressure compressors find their applications across vehicles as well as in home air conditioners and refrigerators. Growth of automotive and home appliances industries is the primary factor driving the demand for these compressors.

Automotive Industry Generated Highest Revenue in India Compressor Market

The automotive category, under the application segment of the Indian compressor market, generated the highest revenue in 2019. The domestic production of automobiles in the region increased at a CAGR of over 7% during 2014–2019. Owing to the abundance of raw materials, demand for superior quality machines, and easy availability of labor, the automotive industry in the country is expected to continue witnessing a surging growth. In addition, due to environmental regulations in the country, minimal-gas-emitting, less-noisy, and energy-efficient compressors are in huge demand in the automotive industry.

Northern Region to Demonstrate Fastest Growth due to Government Initiatives

The northern region (including Uttar Pradesh, Uttarakhand, Haryana, Punjab, and Himachal Pradesh) is expected to grow at the highest rate during the forecast period in the Indian compressor market. Automotive and industrial manufacturing are the major application areas of compressors in the region. Further, the government support in developing industrial corridors, such as the Delhi–Mumbai industrial corridor and Amritsar–Delhi–Kolkata industrial corridor, as well as developing small and medium enterprises, is expected to drive the demand for compressors in northern region during the forecast period.

India Compressor Market

Focus toward Energy-Efficient Compressor Is a Key Trend in the Market

Shift toward energy-efficient compressors is currently trending in the Indian compressor market. Due to focus toward production efficiency and energy savings, the demand for energy-efficient compressors is predicted to increase in coming years. It would result in reducing energy costs and also protecting environment from emission of greenhouse gases. As a result, major players in the market have introduced compressors, which are more efficient as compared to conventional compressors. For instance, in August 2019, Atlas Copco launched new versions of its XAVS 238 and XATS 288 portable compressors, with 27% lesser footprint. They are 20% lighter and 10% more energy-efficient.

India Compressor Market

Growing Manufacturing Sector Driving India Compressor Market Growth

The manufacturing sector in India is growing rapidly and is expected to reach $1 trillion by 2025, owing to the constant support from the government. In this sector, industrial air compressors are used for tool powering, clamping, and stamping. The government coupled with the inflow of foreign direct investment (FDI) has been taking initiatives to promote and support the manufacturing sector. For instance, for all companies having a turnover of up to $38.75 million, the government reduced income tax rate to 25%, under the Union Budget 2018–2019. This would propel the growth of the manufacturing sector in India in the coming years.

India Compressor Market Report Coverage
Report Attribute Details
Historical Years 2014-2019
Forecast Years 2020-2030
Base Year (2019) Market Size $1,943.4 Million
Forecast Period (2020-2030) CAGR 6.2%
Report Coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, COVID-19 Impact, Company Share Analysis, Companies’ Strategic Developments, Product Benchmarking, Company Profiling
Market Size by Segments By Type; By Lubrication Type; By Portability; By Pressure; By Application
Market Size of Geographies Northern, Southern, Western, Eastern
Secondary Sources and References (Partial List) India Brand Equity Foundation (IBEF), Air Movement and Control Association (AMCA), Alliance of Automobile Manufacturers (AAM), American Petroleum Institute (API), Automotive Component Manufacturers Association of India (ACMA), Association of Equipment Manufacturers (AEM), Association of European Refrigeration Component Manufacturers (ASERCOM), Association of Global Oil and Gas Professionals (AGOGPro), Consortium for Energy Efficiency (CEE), Energy Institute, Gas Compressor Association (GCA)

 

Product Launches: Key Strategy to Increase Market Presence

Players in the Indian compressor industry are focusing on product launches to address the rising demand for compressors. For instance:

  • In June 2019, Atlas Copco AB launched new low-investment, belt-driven 15–22 kW compressor range. The belt-driven, fixed-speed compressor family has been designed from the outset to provide high performance with low noise.
  • In January 2019, Kaeser Kompressoren SE introduced new models, 132 kW M250E and 160 kW M255E, in Mobilair e-power compressor series. M250E delivers flow rate of up to 25 m3/min at 8.6 bar, and M255E delivers up to 24.7 m3/min at 10 bar or 19.9 m3/min at 12 bar. The drive units of these compressors consist of IE4 electric motor and Sigma profile airend.

India Compressor Market

Some of the Players Listed in India Compressor Market Report Are:

  • Ingersoll Rand plc
  • Elgi Equipments Limited
  • Atlas Copco AB
  • Kobe Steel Ltd.
  • Mitsubishi Heavy Industries
  • Indo-Air Compressors Pvt. Ltd.
  • Kirloskar Pneumatic Co. Ltd.
  • Anest Iwata Corporation
  • Burckhardt Compression Holding AG
  • Kaeser Kompressoren SE

India Compressor Market Size Breakdown by Segment

The India compressor market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.

Based on Type

  • Positive Displacement
    • Reciprocating
      • In-line
      • V-shaped
      • Tandem piston
      • Single-acting
      • Double-acting
      • Diaphragm
    • Rotary
      • Screw
      • Vane
      • Lobe and scroll
  • Dynamic
    • Centrifugal
    • Axial flow

Based on Lubrication Type

  • Oil-Free
  • Oil-Flooded

Based on Portability

  • Portable
  • Stationary

Based on Pressure

  • Ultra-Low-Pressure
  • Low-Pressure
  • Medium-Pressure
  • High-Pressure
  • Hyper-Pressure

Based on Application

  • Construction
  • Power
  • Industrial Manufacturing
  • Heating, Ventilation, Air Conditioning, and Refrigeration (HVAC-R)
  • Chemical and Cement
  • Automotive
  • Oil and Gas
  • Food and Beverage
  • Textile

Geographical Analysis

  • Northern
  • Southern
  • Eastern
  • Western
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