Italy 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
Italy Air Compressor Market Overview
The Italy Air Compressor Market size was valued at USD 542.3 million in 2023, and is projected to reach USD 837.6 million by 2030, at a CAGR of 5.9% from 2024 to 2030. In terms of volume, the market size was 18 thousand units in 2023, and is projected to reach 35 thousand units by 2030, with a CAGR of 9.1% 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.
Thriving Manufacturing Sector Drives Demand in Italy Air Compressor Market
The booming manufacturing industry of Italy increases the demand for compressed air systems due to their indispensable role in various production processes. Air compressors power pneumatic tools used in manufacturing, such as drills, grinders, and assembly line equipment, enhancing efficiency and productivity.
According to the International Trade Administration report 2024, Italy is the second-largest manufacturing country in Europe and is particularly strong in the manufacture of machinery, fashion items, food products, automotive parts, and pharmaceuticals.
Italian manufacturing generated a revenue of around USD 1.06 billion and invested around USD 7.46 billion in 2022. The rise in revenue generation and investment in this industry reflects about the growing adoption of the air compressor market for controlling automated systems, conveying materials, and operating machinery in manufacturing units.
Expanding Oil and Gas Industry Drives the Italy Air Compressor Market Growth
The Italy air compressor market growth is further being driven by the indispensable role these compressors play in providing compressed air for instrument air systems, gas compression, and pneumatic tools utilized in the maintenance and operations of the oil and gas sector. According to the International Energy Agency report 2022, there are around 11 operational oil refineries in Italy with a total atmospheric distillation capacity of around 1.7 million barrels per day (b/d).
Approximately 405 oil storage terminals are present in the country with total storage capacity of around 26 million cubic metres (mcm) or 163 million barrels. As the oil and gas industry continues to grow it reflects about a prospective market for the rise in demand for air filters to facilitate smooth oil extraction, drilling, and other crucial operation in the Italy air compressor industry.
High Initial and Maintenance Costs Hinders the 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 Italy 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 industry expansion.
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 Italy 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 compressing solutions and stimulating the Italy air compressor market expansion.
Competitive Landscape
The market players operating in the Italy 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.
Italy 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 542.3 Million |
|
Revenue Forecast in 2030 |
USD 837.6 Million |
|
Growth Rate |
CAGR of 5.9% from 2024 to 2030 |
|
Market Volume in 2023 |
18 thousand units |
|
Unit Forecast in 2030 |
35 thousand units |
|
Volume Growth Rate |
CAGR of 9.1% 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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