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
The Mexico Air Compressor Market size was valued at USD 708.7 million in 2023, and is projected to reach USD 1163.2 million by 2030, at a CAGR of 6.8% from 2024 to 2030. In terms of volume, the market size was 33 thousand units in 2023, and is projected to reach 68 thousand units by 2030, with a CAGR of 10.1% 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.
The significant growth of the oil and gas industry in Mexico drives the air compressor market demand due to its extensive reliance on compressed air for various critical operations. Compressed air is utilized in extraction processes in this industry, including pneumatic conveyors for transporting materials and pneumatic actuators for controlling valves.
According to the International Trade Administration report 2023, Mexico is one of the largest oil producers in the world with 1.6 million barrels produced daily in 2022, and the fourth largest in the Americas after the United States, Canada, and Brazil.
Mexico was ranked as the 13th globally in crude oil production, 21st in crude oil reserves, 16th in refined capacity, and fifth in logistics infrastructure with total market size of around USD 6.61 billion in 2022. As the oil and gas industry continues to increase, the demand for efficient and reliable air compressor systems rises to facilitate optimal oil processing and manufacturing.
The growth of the pharmaceutical industry acts as an important catalyst for increasing demand for air compressors as it is essential for powering pneumatic tools used in pharmaceutical manufacturing, such as tablet presses and packaging machinery.
Compressed air is also used for cleaning, sterilizing, and maintaining aseptic conditions in pharmaceutical facilities. According to the latest report of the International Trade Administration, Mexico is the 15th-largest market for pharmaceuticals at global level and the second largest in Latin America after Brazil.
Approximately 400 laboratories manufacture pharmaceuticals in Mexico with a total sale of around USD 10.12 billion in 2022. Thus, the presence of large pharmaceutical sector necessities the need for reliable air compressor systems to support various pharmaceutical operations.
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 Mexico air compressor market. Consequently, small and medium-sized businesses hesitate to invest in new air compressor systems or upgrade existing ones, potentially slowing down market growth.
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.
Leading players operating in the Mexico air compressor market 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.
Portable
Stationary
Rotary Screw
Centrifugal
Reciprocating
Oil-Free
Oil-Injected/Flooded
0-100 kW
101-300 kW
301-500 kW
501 kW & Above
Air Cooled
Water Cooled
Manufacturing
Construction
Oil & Gas
Healthcare
Others
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2023 |
USD 708.7 Million |
Revenue Forecast in 2030 |
USD 1163.2 Million |
Growth Rate |
CAGR of 6.8% from 2024 to 2030 |
Market Volume in 2023 |
33 thousand units |
Unit Forecast in 2030 |
68 thousand units |
Volume Growth Rate |
CAGR of 10.1% 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. |
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