Market size of air compressor

The scale of the air compressor market has continued to grow in recent years,especially in the Chinese market:

1.The size of Chinese market

•The market size in 2019 is about 56.12 billion yuan,increased to 62.77 billion yuan in 2022,is expected to reach 66.85 billion yuan in 2023,and is expecrted to reach 69.09 billion yuan in 2024.

•The main driving force of growth comes from the increase in demand in downstream fields(such as machinery manufacturing,new energy,chemical industry and medical)and the popularization of intelligent and energy-saving technologies.

2.Global market size

•According to the global trend,the air compressor market is expanding at a compound annual growth rate of about 4%-5%.The market size in 2023 is about $30 billion,and it is expected to exceed $40 billion by 2030.

•The Asia-Pacific region is the fastest growing market in the world,among which china contributes the most.

The growth of the market is due to the upgrading of industrialization,the promotion of environmental protection policies and the expansion of demand in emerging industries(such as new energy and high-end manufacturing).At the same time,energy-saving and intelligent technologies have also driven the sales of high-value-added products.

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