The rapid growth of food and manufacturing sector is driving the Canada air compressor market demand during the forecast period.

The Canada Air Compressor Market was valued at USD 1.55 billion in 2023, and is expected to reach USD 2.12 billion by 2030, with a CAGR of 4.1% from 2024 to 2030, according to the new research by Next Move Strategy Consulting. In terms of volume, the market size was 55 thousand units in 2023, and is projected to reach 94 thousand units by 2030, with a CAGR of 7.4% from 2024 to 2030.

The growing food and manufacturing sectors in Canada are spurring an uptick in demand for air compressors, which are indispensable for critical production and processing tasks. Compressed air plays a pivotal role in operating machinery, controlling processes, and powering pneumatic equipment in food processing and manufacturing.

As per the latest report from the Government of Canada, the food and beverage processing industry hold the top spot as the largest manufacturing sector in Canada in terms of production value.

With manufactured goods sales totalling approximately USD 118.11 billion, it constitutes 18.2% of total manufacturing sales and contributes 1.7% to the national Gross Domestic Product (GDP). Furthermore, it stands as the largest manufacturing employer in the country, offering employment opportunities to approximately 300,000 Canadians.

However, the initial investment required for air compressors, coupled with the ongoing maintenance needs like filter replacements, lubrication, and inspections, significantly adds to the overall cost of ownership. These financial constraints serve as a hindrance to the growth of the air compressor market. Consequently, many small and medium-sized businesses often hesitate to invest in new air compressor systems or upgrade their existing ones, potentially stalling market expansion.

On the contrary, the integration of IoT sensors and cloud platforms into air compressors is poised to propel future growth in the air compressor market. This technological advancement enables remote monitoring, predictive maintenance, and optimization of compressors. 

Embedded IoT sensors 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 detect potential issues, forecast maintenance needs, and enhance compressor operations. 

By harnessing IoT and cloud technologies, organizations can minimize downtime, enhance equipment reliability, and optimize energy usage. This will drive the demand for intelligent air compressor solutions and spur market expansion in Canada.

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Several market players operating in Canada 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., Anest Iwata, and others.

Key Insights from Canada Air Compressor Market Report:

• The information related to key drivers, restraints, and opportunities and their impact on Canada 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 report provides an analysis of the Canada air compressor market share and competitive landscape of key players in the industry.