Finland Air Compressor Market by Type (Portable and Stationary), by Technology (Rotary Screw, Centrifugal, and Reciprocating), by Lubrication Type (Oil-Free, and Oil-Injected/Flooded), by Power Rating (0-100 Kw, 101-300 Kw, 301-500 Kw, and 501 Kw & Above), by Cooling Method (Air Cooled and Water Cooled), and by Industry Vertical (Manufacturing, Construction, Oil & Gas, Healthcare, and Others) – Opportunity Analysis and Industry Forecast, 2024– 2030
Industry: Construction & Manufacturing | Publish Date: 19-Jun-2024 | No of Pages: 143 | No. of Tables: 108 | No. of Figures: 73 | Format: PDF | Report Code : N/A
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Finland Air Compressor Market Overview
The Finland Air Compressor Market size was valued at USD 308.1 million in 2023, and is projected to reach USD 420.5 million by 2030, at a CAGR of 4.1% from 2024 to 2030. In terms of volume, the market size was 8 thousand units in 2023, and is projected to reach 14 thousand units by 2030, with a CAGR of 7.2% from 2024 to 2030. An air compressor is an essential mechanical device used across various industries to generate compressed air, that is vital for many applications.
It primarily converts power from sources such as electric motors or diesel engines into potential energy stored as compressed air. This pressurized air is then used to power pneumatic tools and equipment, inflate tires, supply air to HVAC systems for climate control, and support industrial processes such as spray painting and packaging. Essentially, an air compressor provides a reliable source of compressed air, crucial for a wide range of tasks and operations in diverse business and industrial environments.
Growing Pharmaceutical Sector Creates Demand for Finland Air Compressor Market
The increasing use of air compressors in Finland’s pharmaceutical sector for maintaining sterile conditions, including cleaning, sterilizing, and controlling processes, is accelerating its demand.
According to the International Trade Administration report 2023, Finland accounts for about 1.3% of European pharmaceutical sales and less than half a percent of global sales, with the industry importing USD 2.55 billion in pharmaceutical products and exporting USD 1.24 billion in 2022. As the pharmaceutical sector continues to grow in the country, the need for reliable and high-quality air compressor systems rises proportionately to ensure the efficiency and productivity of pharmaceutical manufacturing.
Expansion of the Chemical Industry in Finland Fuelling the Air Compressor Industry
In Finland's chemical production sector, air compressors play a crucial role in processes such as mixing, blending, and reactor operations, where precise and reliable compressed air is necessary.
According to the European Chemical Industry Council report 2022, the chemical industry is Finland’s largest export sector, generating revenues of around USD 26.67 billion and exporting around USD 12.8 billion in 2021.
This significant growth in chemical exports necessitates the need for providing compressed air to power pneumatic tools and equipment used in chemical manufacturing processes by chemical companies in the country.
High Initial and Maintenance Costs Hinders the Growth of the Market
The initial cost of air compressors, coupled with the need for regular maintenance such as filter changes, lubrication, and inspections, adds to the total cost of ownership.
This financial burden serves as a limiting factor for the growth of the air compressor market. As a result, small and medium-sized businesses often hesitate to invest in new air compressor systems or upgrade their existing ones and it is slowing down the market expansion.
The Integration of IoT Sensors and Cloud Platforms is Expected to Create Ample Growth Opportunity for the Market
The incorporation of IoT sensors and cloud platforms into air compressors is poised to unlock future growth opportunities within the air compressor market. This integration facilitates remote monitoring, predictive maintenance, and performance optimization of compressors. IoT sensors, embedded within air compressors, continuously gather real-time data on critical parameters such as temperature, pressure, and energy consumption.
Subsequently, this data is transmitted to cloud platforms where advanced analytics algorithms analyse it to identify potential issues, forecast maintenance requirements, and enhance compressor operations. Through harnessing IoT and cloud technologies, organizations can minimize downtime, improve equipment reliability, and optimize energy usage, thereby fueling demand for intelligent air compressor solutions and stimulating market expansion.
Competitive Landscape
The key players operating in Finland air compressor industry include 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., Anest Iwata and others.
Finland Air Compressor Market Key Segments
By Type
-
Portable
-
Stationary
By Technology
-
Rotary Screw
-
Centrifugal
-
Reciprocating
By Lubrication Type
-
Oil-Free
-
Oil-Injected/Flooded
By Power Rating
-
0-100 kW
-
101-300 kW
-
301-500 kW
-
501 kW & Above
By Cooling Method
-
Air Cooled
-
Water Cooled
By Industry Vertical
-
Manufacturing
-
Construction
-
Oil & Gas
-
Healthcare
-
Others
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2023 |
USD 308.1 Million |
|
Revenue Forecast in 2030 |
USD 420.5 Million |
|
Growth Rate |
CAGR of 4.1% from 2024 to 2030 |
|
Market Volume in 2023 |
8 thousand units |
|
Unit Forecast in 2030 |
14 thousand units |
|
Volume Growth Rate |
CAGR of 7.2% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Million (USD) |
|
Growth Factors |
|
|
Market Share |
Available for 10 companies |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
KEY PLAYERS
-
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.
-
Anest Iwata
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