The growing chemical industry in the country is driving the South Korea air compressor market demand during the forecast period.

The South Korea Air Compressor Market size was valued at USD 713.7 million in 2023, and is expected to reach USD 1367.2 million by 2030, with a CAGR of 9.2% from 2024 to 2030, according to the new research by Next Move Strategy Consulting. In terms of volume, the market size was 33 thousand units in 2023, and is projected to reach 79 thousand units by 2030, with a CAGR of 12.7% from 2024 to 2030.

South Korea is a leading producer and exporter of chemicals, including petrochemicals and specialty chemicals. The country has a constant demand for compressed air systems to empower the pneumatic tools and equipment essential to these operations.

According to the International Trade Administration's 2023 report, South Korea’s chemical industry accounts for 14.3% of the country’s manufacturing production and 17% of total exports. The reliable and efficient operation of air compressors ensures precise control and handling of chemicals, driving the air compressor market growth in South Korea.

However, the high initial cost of air compressors, coupled with the need for regular maintenance such as filter changes, lubrication, and inspections, significantly adds to the total cost of ownership.

These financial constraints can hinder market growth, as small and medium-sized businesses may be reluctant to invest in new systems or upgrade existing ones, potentially slowing the South Korea air compressor market expansion.

On the contrary, the integration of IoT sensors and cloud platforms into air compressors is poised to drive future market growth. This technological advancement enables remote monitoring, predictive maintenance, and performance optimization of these oil-lubricated compressors.

IoT sensors embedded in air compressors continuously collect real-time data on critical parameters such as temperature, pressure, and energy consumption. This data is then transmitted to cloud platforms, where advanced analytics algorithms analyse it to identify potential issues, forecast maintenance needs, and enhance compressor operations. 

By leveraging IoT and cloud technologies, organizations can minimize downtime, improve equipment reliability, and optimize energy usage. This will increase the demand for intelligent air compressed system solutions and stimulate the South Korea air compressor market expansion.

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Several market players operating in the South Korea air compressor industry includes Atlas Copco Group, Ingersoll-Rand PLC, Hitachi Ltd., Siemens Energy AG, Kaeser Kompressoren, MAT Holding, Inc., Elgi Equipment Limited, Sulzer Ltd., Mitsubishi Heavy Industries, Ltd., and Anest Iwata, among others.

Key Insights from the South Korea Air Compressor Market Report:

• The information related to key drivers, restraints, and opportunities and their impact on South Korea air compressor market is provided in the report.

• The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.

• The market share of the key players in the South Korea air compressor industry is provided in the report along with their competitive analysis.