Spain 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
Spain Air Compressor Market Overview
The Spain Air Compressor Market size was valued at USD 367.3 million in 2023, and is projected to reach USD 637.5 million by 2030, at a CAGR of 7.7% from 2024 to 2030. In terms of volume, the market size was 16 thousand units in 2023, and is projected to reach 34 thousand units by 2030, with a CAGR of 10.9% 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.
Increasing Adoption of Healthcare Creates Demand for Air Compressor in Spain
As healthcare facilities strive to improve patient care and upgrade their infrastructure, there's a growing need for reliable and efficient air compressors to support critical medical operations.
According to the European Commission report 2023, the expenditure on healthcare in Spain was 10.7 % of GDP that is around USD 3 061.96 per capita, with the share of public financing for health amounts to 71.6 %. In 2021. This surge in demand is boosting the air compressor market forward, promoting innovation and technological advancements to meet the evolving requirements of the healthcare sector.
Continuous Growth in Chemical Industry Boosts the Spain Air Compressor Market
The booming chemical industry in the country further drives the growth for Spain air compressor market trends. According to European Chemical Industry Council report 2022, the chemical industry is one of the major industrial sectors in Spain that represents 5.6% of the national GDP and 3.7% of total employment.
The industry generated a turnover of USD 82 385.25 million, and remains the 1st largest exporter in the Spanish economy with 63.8% export rate that is around USD 52 547.12 million. Thus, the rising export level and revenue generation, rises focus on product quality and efficiency by the chemical companies with growing reliance upon air compressors to maintain precision, cleanliness, and productivity in their manufacturing processes, contributing to the increasing demand for these systems.
High Initial and Maintenance Costs Hinders the Spain 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 Spain air compressor market expansion.
Competitive Landscape
The Key players operating in Spain 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.
Spain 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 367.3 Million |
|
Revenue Forecast in 2030 |
USD 637.5 Million |
|
Growth Rate |
CAGR of 7.7% from 2024 to 2030 |
|
Market Volume in 2023 |
16 thousand units |
|
Unit Forecast in 2030 |
34 thousand units |
|
Volume Growth Rate |
CAGR of 10.9% 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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