India Industrial Compressor Market Analysis

India Industrial Compressor Industry Analysis

Product Insights

• The positive displacement category will hold the larger share of the market, of 70%, in 2024.
• These compressors use less energy, which makes them highly efficient for SMEs in increasing the pressure of a gas or air.
• Positive-displacement compressors are available in a wide range of configurations, such as reciprocating, rotary screw, rotary vane, diaphragm, and scroll, which allows consumers to choose as per the actual application.
• In particular, SMEs’ demand for these variants is driven by their availability in diverse prices, capacities, and power and energy efficiency ratings.

The products covered in this report are:

• Dynamic (Faster-Growing Category)
  • Axial flow
  • Centrifugal
• Positive Displacement (Larger Category)
  • Reciprocating
  • Rotary

Lubrication Insights

• The oil-flooded category will hold the larger share, of 65%, in 2024 and grow at the higher compound annual growth rate, of 6.7%, in the forecast period.
• These variants are cost-efficient and reliable for heavy-duty applications in a host of industries, such as manufacturing, automotive, aerospace, mining, and food and beverages.
• Oil-flooded compressors provide optimal sealing between the rotors, which reduces air leakage and enhances efficiency. 

The lubrications analyzed in this report are:

• Oil-Free
• Oil-Flooded (Larger and Faster-Growing Category)

Portability Insights

• The stationary bifurcation will hold the larger share, in 2024 and witness a higher CAGR in the forecast period.
• This category is propelled by the growth of industrial sectors, including automotive and manufacturing, where high pressures and large volumes of air are needed.
• As a result, the compressors need to be heavy-duty, which are bolted in one place and connected with pipes to provide compressed air to multiple workstations.

The portability segment has the following categories:

• Portable
• Stationary (Larger and Faster-Growing Category)

Propulsion Insights

• The electric motor category will hold the larger share, in 2024.
• Electric motors are more energy-efficient compared to internal combustion engines, which lowers operating costs, especially when compressors are operated for a long time.
• Moreover, an electric motor needs lower maintenance as it has fewer moving parts, which leads to less wear and tear.
• Carbon emissions are zero, which makes them environment-friendly and ideal for indoor industrial applications.

The propulsions covered in this report are:

• ICE
• Electric Motor (Larger and Faster-Growing Category)

Pressure Insights

• The medium category will generate the highest revenue in 2024.
• Medium-pressure variants can be used in many applications in the automotive and manufacturing sectors.
• The high category is expected to witness the highest CAGR, of 6.7%, in the forecast period.
• The aerospace and oil and gas sectors, which are witnessing robust expansion in the country, require high air and gas pressures for numerous applications, thus driving this category in the future.

The pressures included in this report are:

• Ultra-Low
• Low
• Medium (Largest Category)
• High (Fastest-Growing Category)
• Hyper

Application Insights

• The automotive application will hold the dominant share in 2024 and grow at the highest CAGR, in the forecast period.
• India’s automotive sector is the third-largest in the world, with an output 28.43 million vehicles from April 2023 to March 2024.
• This market will be influenced by the growing demand for EVs, which is encouraging companies to augment their electric automobile output and set up dedicated EV plants across the country.
• India aims to double its automobile sector size to INR 15 lakh crore by the end of 2024, which will boost this market at a significant rate.
• In an EV plant and any automobile plant, in general, compressors are used for painting, tire filling, moving stuff via pneumatic suction devices, vacuum-cleaning intake valves and pipelines, driving conveyors, and many other purposes.

The applications included in this report are:

• Chemicals and Petrochemicals
• Food and Beverages
• Oil and Gas
• Pharmaceuticals
• Construction
• Automotive (Largest and Fastest-Growing Category)
• Packaging
• Power Generation
• Healthcare
• Metals and Mining
• Electricals and Electronics
• Others