Singapore Air Compressor Market

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Singapore 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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Singapore Air Compressor Market Overview

The Singapore Air Compressor Market size was valued at USD 253.6 million in 2023, and is projected to reach USD 450.7 million by 2030, at a CAGR of 8.1% from 2024 to 2030. In terms of volume, the market size was 13 thousand units in 2023, and is projected to reach 30 thousand units by 2030, with a CAGR of 11.5% 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.

Expansion of Construction Activities is Fuelling the Singapore Air Compressor Market

The expansion of construction activities in Singapore is driving the demand for air compressors, which play a crucial role in enhancing efficiency, productivity, and safety on construction sites. According to the Building and Construction Authority (BCA) report of 2023, Singapore's total construction demand reached approximately USD 22 billion in 2022 and is projected to rise to between USD 23.63 billion by 2027. This growth underscores the increasing reliance on air compressors to power pneumatic tools and equipment, facilitating various construction tasks and contributing to overall project efficiency

Growth of the Oil and Gas Sector Creates Demand for the Singapore Air Compressor Market

The growth of the oil and gas sector in Singapore is further driving the reliance on air compressors for a wide range of operations, including upstream exploration, downstream refining, and transportation activities. According to the Singapore Economic Development Board report of 2024, Singapore stands as one of the leading oil and gas hubs in Asia, with a total output of around USD 2.24 billion. The sector constitutes approximately 30% of the Marine and Offshore Engineering (M&OE) industry in 2022. This growth in the oil and gas sector underscores the significant demand for air compressors to support critical operations, highlighting their importance in ensuring operational efficiency and safety within the industry.

High Initial and Maintenance Costs Hinders the Singapore 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 Singapore 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 Singapore air compressor market expansion.

Competitive Landscape

The market players operating in the Singapore 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.

Singapore 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 253.6 Million

Revenue Forecast in 2030

USD 450.7 Million

Growth Rate

CAGR of 8.1% from 2024 to 2030

Market Volume in 2023

13 thousand Units

Unit Forecast in 2030

30 thousand Units

Volume Growth Rate

CAGR of 15.6% from 2024 to 2030

Analysis Period

2023–2030

Base Year Considered

2023

Forecast Period

2024–2030

Market Size Estimation

Million (USD)

Growth Factors

  • Expansion of construction activities is fuelling the market of air compressor in Singapore

  • Growth of the oil and gas sector creates demand for air compressor in Singapore

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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Frequently Asked Questions

The key market players operating in Singapore air compressing market are 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.

According to the Next Move Strategy Consulting, the size of Singapore air compressor market is estimated to be at USD 450.7 million in 2030.

The incorporation of IoT sensors and cloud platforms into air compressors is poised to unlock future growth opportunities within the air compressor market.

The initial cost involved with air compressors, alongside the requirement for regular maintenance are hindering the growth of the market.

According to the Next Move Strategy Consulting, the size of Singapore air compressor market is estimated at USD 253.6 million in 2023.

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