India Stationary Compressor Market is anticipated to grow at a promising rate: Projected to reach USD 1,956.3 Million by 2027
Published | 01 December 2021
The growth of the India stationary compressors market is attributable to the growth of the pharmaceutical, automotive, oil refinery and manufacturing industries. The utilization of stationary compressors in India across these domains has been showcasing an increasing demand due to the rising acceptance of pneumatic energy consumption in India, rising FDI inflows, particularly in the most robust industrial states of India like Maharashtra and Gujarat….
A study recently conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the India stationary compressor market reached USD 1,129.1 million in 2020. The market is further expected to reach USD 1,956.3 million by 2027 and is projected to grow at a CAGR of 7.4% during 2021-2027 (forecast period). The growth of the India stationary compressor market has been positively impacted by the growth of the oil & gas industry, investments in healthcare and automotive divisions across the country, and the growing adoption rates of pneumatic energy. Additionally, many states in India have experienced an increase in foreign direct investment, including Gujarat and Maharashtra, which has resulted in the growth of stationary compressor-related industries.
Rising demand for automotive services in India is driving the demand for stationary compressors
Stationary compressors are an essential part of the automobile services industry and are used extensively in auto repair and auto body shops and facilities. Vehicle service, repair, and auto body shops use stationary compressors of 5 HP to 30 HP with 80-to-240-gallon air receivers to power the shop’s pneumatic tools and equipment. Reciprocating compressors are generally preferred in the automobile services industry. However, people are shifting rapidly toward rotary screw compressors due to the low overall cost and their ability to produce massive volumes of high-pressure air. According to the India Brand Equity Foundation (IBEF), EV sales, excluding E-rickshaws, went up by 20% in 2020 and reached 1,560 thousand units in 2020. IBEF further states that only 35% of all "post-warranty cars" go back to authorized service centers, and 65% go to multi-brand car service centers. It signifies the importance of the automobile services industry in the country. With the growing automobile sales, along with booming EV sales, the demand for automobile services centers and stationary compressors is expected to go up and drive the growth of the India stationary compressor market in the foreseeable future.
Rising demand arising from food processing industries powering the growth of the India stationary compressor market
Many facilities across the food & beverages industry have started leveraging stationary compressors for food processing. Stationary compressors are leveraged for cleaning air out of containers before filling the products, sorting of products, filling baked goods, packaging systems, freezing of food products, packaging by blow-molding processes. According to one estimate from India Brand Equity Foundation (IBEF), India’s revenue arising from the FMCG industry has been found at USD 103.7 billion in 2020. The rising investment in the food processing industry via FDI inflows is positively contributing to the demand for the India stationary compressors market. The investments are bolstering the use of stationary compressors in the food processing industry to reduce the chances of air contamination, thereby driving the growth of the India stationary compressor market.
Based on types, the reciprocating segment occupied the largest market share of the India stationary compressor market
There are five main types of stationary compressors in the India stationary compressor market, namely, reciprocating, screw, scroll, vane, and centrifugal. Among these types of compressors, the reciprocating compressors segment holds the largest share in the India stationary compressor market. Under reciprocating compressors, the 450-900 rpm compressors are anticipated to register the fastest CAGR in the coming years. Since reciprocating compressors are utilized by small-scale and medium-scale industries, which make up a larger part of the Indian market, there is a rising demand for such compressors in the country. Reciprocating compressors have been in decline for the last few years while screw compressors have gained their market share because of their higher efficiency and shorter production timeframe.
Request For Free Sample Report @ https://www.blueweaveconsulting.com/report/india-stationary-compressor-market/report-sample
Food & Beverage accounted for the largest share in the application segment in the India stationary compressor market
Based on applications, the India stationary compressor market is grouped into Food & Beverage, Chemicals & Petrochemicals, Healthcare, Home Appliances, Oil & Gas, Automotive, Mining & Metals, Power Plants, Manufacturing, and others. Among these, the food & beverage segment accounted for the largest share in the India stationary compressor market. The oil and gas industry has also been witnessing rapid growth, along with the growing food processing industry, as a result of increasing investments in the sector. In the oil & gas and petrochemical industries, compressors have become increasingly common for providing the gas pressure needed to operate pipelines and lift oil in gas-lift operations. With the growing automation and integration of heavy machinery, the oil & gas segment is promising stronger growth prospects for stationary compressors in the future.
India Stationary Compressor Market: Regional Insights
Based on regions, the India stationary compressor market has been categorized into North India, East India, West India, and South India. The southern region of the country accumulated the largest share in the market in 2020 and grew at a robust CAGR during the historical period. There are several major manufacturers of stationary compressors in this region, such as ELGI Equipments Ltd., which accommodates the demand for stationary compressors in the region and garners a larger market share due to the compatibility of its compressors with end-user applications. Additionally, due to the presence of several automotive manufacturers and healthcare providers in the southern part of the country, the stationary compressor market has been receiving the majority of orders from this region. The northern region, on the other hand, happens to be the fastest-growing region in the market due to the growing food processing industry. The northern region of India has been witnessing rising infrastructure development which has contributed to rural-to-urban migration over the past few years, thereby contributing to the growth of India stationary compressor market.
India Stationary Compressor Market – COVID-19 Impact Analysis
The COVID-19 pandemic has had a negative impact on the overall India stationary compressor market. As a result of lockdown restrictions that were imposed during the initial phase of the pandemic, factories across India had to shut down to contain the spread of the virus. As a non-essential commodity, stationary compressors nonetheless took a toll on the entire industry. The trade restrictions disrupted the supply of compressors from China and Germany, two of the leading countries supplying components to India for stationary compressors. Furthermore, the escalating COVID-19 versions have halted the import of critical components from China. Additionally, the initial lockdown measures have also severely impacted the growth of various end-user applications like manufacturing, food and beverage, oil and gas, and mining, among others as they had to shut their operations due to the rising COVID-19 cases. These are the primary factors that have been impeding the growth of the India stationary compressor market throughout the pandemic. However, the recent FDI inflows in the country have started initiating the adoption of pneumatic energy and encouraging the companies to shift from hydraulic to pneumatic energy. It is accompanied by rising vaccination rates, which is contributing to the growth of stationary compressors in India.
The leading players in the India stationary compressor market are Atlas Copco AB, Elgi Equipments Limited, Ingersoll Rand Inc., Anest Iwata Motherson Pvt. Ltd., Kirloskar Pneumatic Company Limited, FS Elliot Compressors India Pvt. Ltd., Kaeser Kompressoren (India) Pvt. Ltd., BOGE Kompressoren, BAUER KOMPRESSOREN India Pvt. Ltd., Indo-Air Compressors Pvt. Ltd., Hitachi Hi-Rel Power Electronics Private Limited, BAC Compressors, Gajjar Compressor, Saimona Compressor Ltd., Quincy Compressor LLC, Kobelco compressors India Pvt. Ltd., Comptech Equipment, Maruti Air Compressor, Kaishan Compressor LLC, and other prominent players.
The India stationary compressor market is highly consolidated, with a handful of players enjoying a larger share in the market. Additionally, major companies in the India stationary compressor market have started initiating programs to pour investments in research & development to implement and launch efficient compressors in the market, thereby curbing the share of smaller players. As a result, the entry of new players in the Indian stationary compressor market remains difficult.
In July 2021, FS-Curtis, a leading producer of stationary compressors, announced the launch of the new ECO-Turbo Series. The ECO-Turbo series is designed to be leveraged across a vast array of applications, wherein 100% oil-free air is required. The series comes in a range of 185 kW to 250 kW power with a final compression pressure of at most 125 psi.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the India stationary compressor market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the India Stationary Compressor Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online & offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost up the performance of your business solutions. BWC has built its reputation from the scratches by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
BlueWeave Consulting & Research Pvt. Ltd
+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662
Recent Press Releases
- India Facility Management Market Set to Witness Roaring Growth: Likely to Grow at a CAGR of 22.1% by 2027
- Asia-Pacific Renewable Energy Inverters Market to Grow at 16.5% during Forecast Period
- India Stationary Compressor Market is anticipated to grow at a promising rate: Projected to reach USD 1,739.5 Million by 2027
- Global Photovoltaic Rapid Shutdown Device Market to Grow at a CAGR of 14.2% during the forecast period
- UAE Facility Management Market on a Prosperous Mode: Likely to Grow at a CAGR of 11.0% in the Forecast Period
- United States Solar Energy Market Slated to Amass Considerable Revenue—Projected to Grow at a CAGR of 16.3% by 2028