Russia 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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Russia Air Compressor Market Overview
The Russia Air Compressor Market size was valued at USD 453.6 million in 2023, and is projected to reach USD 542.6 million by 2030, at a CAGR of 2.1% from 2024 to 2030. In terms of volume, the market size was 13 thousand units in 2023, and is projected to reach 20 thousand units by 2030, with a CAGR of 5.2% 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.
Booming Oil and Gas Industry is Fuelling the Russia Air Compressor Market Growth
The booming oil and gas industry in Russia acts as a major driver behind the growth of the air compressor market. According to the latest report from the International Energy Agency, Russia is the world’s third-largest oil producer, trailing behind the United States and Saudi Arabia. In January 2022, Russia’s total oil production reached 11.3 million barrels per day (mb/d), with a significant portion attributed to crude oil, condensates, and natural gas liquids (NGLs). The escalating growth of the oil and gas industry in the country indicates a growing demand for air compressors to support the extraction, processing, and transportation of oil and gas resources efficiently and reliably.
Increasing Electricity Production Creates Demand for Air Compressors in Russia
Russia's position as a leading producer of electricity also drives the demand for the air compressor market, as they are essential for various operations within power plants. Air compressors contribute to the efficiency of cooling systems, aid in environmental controls for emissions reduction, and play a crucial role in emergency systems.
According to the U.S. Information Administration report 2023, Russia’s installed electricity generation capacity increased to 283 gigawatts (GW) by the end of 2021. The country recorded electric power generation of around 1,110 billion kilowatt-hours (kWh) in 2021, with approximately 60% derived from fossil fuel sources, and the remainder primarily from nuclear and hydroelectric sources. The surge in the electricity sector is driven by the adoption of air compressors to ensure efficient, reliable, and safe power plant operations.
High Initial and Maintenance Costs Hinders the Russia 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 Russia 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.
Russia 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 453.6 Million |
|
Revenue Forecast in 2030 |
USD 542.6 Million |
|
Growth Rate |
CAGR of 2.1% from 2024 to 2030 |
|
Market Volume in 2023 |
13 thousand Units |
|
Unit Forecast in 2030 |
20 thousand Units |
|
Volume Growth Rate |
CAGR of 5.2% 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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