Canada 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
Canada Air Compressor Market Overview
The Canada Air Compressor Market size was valued at USD 1.55 billion in 2023, and is projected to reach USD 2.12 billion by 2030, at a CAGR of 4.1% from 2024 to 2030. 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. 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.
Canada's Thriving Mining Sector Drives the Canada Air Compressor Market Demand
Canada is a leading mining industry with being a key global producer of copper, nickel and cobalt and hosts advanced mineral projects for rare earth elements, lithium, graphite and vanadium. The booming mining industry propels the demand for air compressor market as it power pneumatic tools used in drilling, rock blasting, and material handling. According to the Government of Canada report 2023, the value of Canadian mineral production in 2021 was USD 41.88 billion that is 20% higher than the 2020 value of USD 35.02 billion.
Growing Food and Manufacturing Industries Increases the Canada Air Compressor Market Demand
The rising food and manufacturing industry in the country further increases demand for Canada air compressor market through essential production and processing applications. In food processing and manufacturing, compressed air is crucial for operating machinery, controlling processes, and powering pneumatic equipment.
According to latest report of the Government of Canada, the food and beverage processing industry in Canada is listed as the largest manufacturing industry in Canada in terms of value of production with sales of goods manufactured that is around USD 118.11 billion that accounted for 18.2% of total manufacturing sales and for 1.7% of the national gross domestic product (GDP).
It is also the largest manufacturing employer with a workforce of around 300,000 Canadians. Thus, the substantial growth of the food and beverage industry reflects about the need for air compressors to support food production and processing.
High Initial and Maintenance Costs Hinders the Canada Air Compressor Market Growth
The initial cost involved with air compressors, alongside the requirement for regular maintenance such as filter changes, lubrication, and inspections, contributes to the total cost of ownership.
This financial constraint acts as a restraining factor in the growth of the Canada air compressor market. Consequently, small and medium-sized businesses hesitate to invest in new compressed air systems or upgrade existing ones, potentially slowing down the industry growth.
The Integration of IoT Sensors and Cloud Platforms is Expected to Create Ample Growth Opportunities for the Market
The incorporation of IoT sensors and cloud platforms into air compressors is poised to unlock future growth opportunities within the 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 the demand for intelligent air filter solutions and stimulating Canada air compressor market expansion.
Competitive Landscape
The market players operating in the Canada 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.
Canada 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 1.55 Billion |
|
Revenue Forecast in 2030 |
USD 2.12 Billion |
|
Growth Rate |
CAGR of 4.1% from 2024 to 2030 |
|
Market Volume in 2023 |
55 thousand units |
|
Unit Forecast in 2030 |
94 thousand units |
|
Volume Growth Rate |
CAGR of 7.4% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Billion (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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