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India Compressor Market to Generate Revenue Worth $2,891.9 Million by 2030

  • Published: October 2020

Backed by increasing government support, the growing manufacturing sector is positively driving the Indian compressor market. The market is poised to generate $2,891.9 million revenue in 2030, advancing at a CAGR of 6.2% during the forecast period (2020–2030).

The COVID-19 outbreak has disrupted the supply chain of compressors. The country has witnessed a temporary shutdown of different industries, due to the lockdown implemented by the central and state governments in multiple phases. The pandemic has also impacted the supply chain of compressor components, such as rotary blades, embedded systems, and fan units, which, in turn, has impacted the manufacturing of compressors, thus restraining the growth of the market.

Positive Displacement Compressor to Remain Prime Choice of End Users during Forecast Period

The Indian compressor market, on the basis of type, is categorized into positive displacement and rotary. Between these, positive displacement compressors generated the higher revenue in 2019. Also, they are projected to dominate the market during the forecast period. This can be mainly attributed to their increasing demand among industries, such as automotive, semiconductor, steel, and chemical. Better rotor profiles, improved machines, and innovative designs are few features that are leading to their increasing demand.

The Indian compressor market, based on lubrication type, is categorized into oil-flooded and oil-free. Between these, the oil-flooded category held the larger share in 2019, buoyed by low initial cost and comparatively less maintenance requirement. Further, Indian consumers are price-driven while focusing on optimal solutions for their business operations.

The northern region held the largest share in the Indian compressor market in 2019, and it is expected to remain dominant during the forecast period as well. Automotive and industrial manufacturing are the major application areas of compressors in the region. Further, in the northern region, the National Capital Region (NCR) cites the largest consumption of compressors, due to high industrial growth and their high demand from automobile production applications. NCR produces over 30% of passenger cars and more than 50% two wheelers in India annually.

Market Players Are Targeting Product Launches to Consolidate Market Share

Major players in the Indian compressor industry are increasingly focusing on product launches to increase their market share. For instance, in July 2019, Atlas Copco launched five new air compressors for the Indian market, providing an edge to small- and medium-scale business units. This new range includes piston air compressors and screw air compressors to cater to the changing consumer demands from different sectors across the country.

Some of the major players operating in the Indian compressor market are ELGI EQUIPMENTS LIMITED, Gardner Denver Holdings Inc., Kaeser Kompressoren SE, Mitsubishi Heavy Industries Ltd., Atlas Copco AB, Kobe Steel Ltd., ANEST IWATA Corporation, Burckhardt Compression Holding AG, Kirloskar Pneumatic Company Limited, and Indo-Air Compressors Pvt Ltd.