Sweden 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
Sweden Air Compressor Market Overview
The Sweden Air Compressor Market size was valued at USD 400.2 million in 2023, and is projected to reach USD 525.6 million by 2030, at a CAGR of 3.5% from 2024 to 2030. In terms of volume, the market size was 9 thousand units in 2023, and is projected to reach 15 thousand units by 2030, with a CAGR of 6.7% 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.
Rising Advancement in Manufacturing Sector Propels the Sweden Air Compressor Market Growth
Sweden's advanced manufacturing market significantly contributes to the accelerating demand for air compressors, which power automated systems and control mechanisms to operate pneumatic actuators, valves, and other components in automated production lines.
According to the International Trade Administration report 2023, Sweden's manufacturing sector accounts for roughly 20% of the country’s GDP, approximately USD 117 billion, with advanced manufacturing representing about USD 40 billion of the total GDP in 2023. The crucial role played by air compressors in supporting automation in manufacturing units drives their demand in the country.
Presence of Key Industry Players are Fuelling the Market Growth
The presence of key players such as ELGi Equipment Ltd, Atlas Copco, and Sauer Compressor in Sweden further accelerates the demand for air compressors through various strategies, including product launches.
For instance, in May 2022, ELGi Equipments Limited launched two new ranges of air compressors to address the compressed air requirements of the manufacturing, metal, food & beverage, and pharmaceutical sectors in Gothenburg, Sweden.
The new ranges, including the EG Series and EPG Series, offer enhanced efficiency and performance for diverse industrial applications. The introduction of such innovative air compressors influences the purchasing power of industrial sectors to adopt these advanced systems to meet evolving industry needs.
High Initial and Maintenance Costs Hinders the Growth of the Market
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 key players operating in Sweden 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.
Sweden 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 400.2 Million |
|
Revenue Forecast in 2030 |
USD 525.6 Million |
|
Growth Rate |
CAGR of 3.5% from 2024 to 2030 |
|
Market Volume in 2023 |
9 thousand units |
|
Unit Forecast in 2030 |
15 thousand units |
|
Volume Growth Rate |
CAGR of 6.7% 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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