Africa 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: 20-Jun-2024 | No of Pages: 143 | No. of Tables: 108 | No. of Figures: 73 | Format: PDF | Report Code : N/A
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Africa Air Compressor Market Overview
The Africa Air Compressor Market size was valued at USD 570.3 million in 2023, and is projected to reach USD 804.9 million by 2030, at a CAGR of 4.6% from 2024 to 2030. In terms of volume, the market size was 23 thousand units in 2023, and is projected to reach 41 thousand units by 2030, with a CAGR of 7.9% 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 Construction Industry is Creating Demand for Air Compressors
Nigeria is experiencing a construction boom with numerous infrastructure projects, including roads, bridges, and buildings, leading to a surge in the demand for air compressors. These machines are crucial for tasks such as concrete spraying, sandblasting, and powering pneumatic tools on construction sites. According to the International Trade Administration's 2023 report, Nigeria's construction industry saw substantial growth in local production, increasing by approximately 391% to USD 2,750 million in 2021 from USD 560 million in 2020. This rapid expansion in the construction sector is driving the growth of air compressor use, enhancing efficiency and productivity in construction processes.
Increase in Global Demand for Oil and Gas Industry Drives Africa Air Compressor Market Expansion
The oil and gas industry is a significant driver behind the increasing demand for air compressors in Africa. According to a 2023 International Agency report, global oil demand is expected to reach 105.7 million barrels per day by 2028. This growing demand necessitates the use of air compressors in gas compression and processing facilities, driven by the oil and gas sector's need to optimize production, minimize downtime, and ensure safety and regulatory compliance.
In Africa, drilling is a vital activity in the oil and gas sector, requiring compressed air to power pneumatic drills and hammers for drilling boreholes, completing wells, and extracting oil and gas reserves from underground formations. From pneumatic drilling and gas compression to refining and offshore applications, air compressors are essential for enhancing efficiency and productivity in Africa's oil and gas industry.
High Initial and Maintenance Costs Hinders the Africa Air Compressor Market Growth
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 market players operating in the Africa 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., and Anest Iwata, among others.
Africa 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 570.3 Million |
|
Revenue Forecast in 2030 |
USD 804.9 Million |
|
Growth Rate |
CAGR of 4.6% from 2024 to 2030 |
|
Market Volume in 2023 |
23 thousand Units |
|
Unit Forecast in 2030 |
41 thousand Units |
|
Volume Growth Rate |
CAGR of 7.9% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Million (USD) |
|
Growth Factors |
|
|
Companies Profiled |
10 |
|
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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