India Stationary Compressor Market

India Stationary Compressor Market, By Type (Reciprocating (Piston), (By Revolutions (High Speed (>900 rpm), Medium Speed (450-900 rpm), Low Speed (<450 rpm), By Lubrication (With Oil, Oil Free))), Screw (By Lubrication (With Oil, Oil Free), Scroll (Radially and/or Axially compliant, Non-compliant), Vane, Centrifugal); By Power Type (Below 11 kW, 11 kW – 45 kW, Above 45 kW – 90 kW, Above 90 kW – 160 kW, Above 160 kW); By Application (Food & Beverage, Chemicals & Petrochemicals, Healthcare, Home Appliances, Oil & Gas, Automotive, Manufacturing (Semiconductor & Electronics, Textile, Paper & Pulp, Metal Processing, Others), Mining & Metals, Power Plants, Others), By Region (North (Himachal Pradesh, Haryana, Delhi, Uttar Pradesh, Punjab, Others), East (West Bengal, Bihar, Odisha, Others), West (Maharashtra, Gujarat, Rajasthan, Madhya Pradesh, Others), South (Tamil Nadu, Karnataka, Telangana, Andhra Pradesh, Kerala)) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

  • Published Date: September 2021
  • Report ID: BWC2168
  • Available Format: PDF
  • Page: 293

Report Overview

The India Stationary Compressor market is anticipated to register a continuum growth in the coming years due to the growth of the food and beverage industries, rising oil refinery industry, and advancement in automotive production techniques.

The India stationary compressor market reached USD 1,117.9 million in 2021 and is anticipated to reach USD 1,739.5 million in 2027 while growing at a CAGR of 6.6% in the forecast period (2021-2027). The growth of the India stationary compressors market is attributable to the growth of the country’s pharmaceutical, automotive, oil refinery, and manufacturing industries. The use of stationary compressors in India in these domains has been on the rise due to the growing acceptance of pneumatic energy consumption, rising FDI inflows, particularly in the most robust industrial states like Maharashtra and Gujarat. Additionally, the demand for stationary compressors is also growing due to the flourishing food processing industry in the Northern parts of India. Furthermore, with the rising investments in minerals and mining, the eastern region - which is an important cluster for minerals - should also record significant growth over the next few years.

India Stationary Compressor Market

Source: BlueWeave Consulting

India Stationary Compressor Market Overview

Compressors are pneumatic instruments that convert electrical power into potential energy using an electric motor, diesel or gasoline engine, and others. The potential energy is stored in pressurized or compressed air as the compressor forces more and more air into a tank and increases the pressure of the air. Compressors and pumps are very similar in their functionalities. Compressors specialize in air and gas pressurization while pumps specialize in liquids like water and oil. Stationary compressors are big compressors used when a large volume of compressed air is required. Automobile repair shops, the oil & gas industry, petrochemical plants, the food & beverages industry, mining & metals, power plants are some of the major areas of application for stationary compressors. Reciprocating (piston) compressors are the most common type of stationary compressor seen in industries. However, the application of rotary screw compressors is increasing with time as these compressors have a long lifespan and require minimum maintenance compared to reciprocating compressors.

India Stationary Compressor Market Trend

Growth Drivers

Growing Exploration and Production Activities in the Oil & Gas Industry

The oil& gas industry employs two types of stationary compressors, i.e., screw and reciprocating compressors. While a screw compressor is used to generate constant pressure for the transportation of natural gas, reciprocating compressors are used to increase the pressure of natural gas. According to the Ministry of Petroleum and Natural Gas, Government of India, there are 20.085 billion tons of oil & gas reserves in the country with a network of 10,419 km of crude pipeline, having a capacity of 145.6 MMTPA. The ministry has further announced that foreign investors would have opportunities to invest in projects worth USD 300 billion in India as the country looks to cut down its imports by 10% by 2022. Recently, the ministry has announced an “open door policy” to resolve the issues of the investors. The support from the government is leading to newer opportunities in the oil & gas industry, thereby supporting increased demand for compressors in the India stationary compressor market.

Growing Application in the Food & Beverages Industry

Stationary compressors have witnessed growing applications in the food & beverages industry. Different facilities within the food & beverages industry have different applications for compressed air. Among the major applications of stationary compressors in the food & beverages industry is air cleaning of containers before product filling, automated product sorting, product packaging systems, filling of baked goods, mixing dry foods, freezing of food products, and creating packaging using blow-molding. India Brand Equity Foundation (IBEF) estimated the revenue for the country’s FMCG industry to be worth USD 103.7 billion in 2020. The increasing application of stationary compressors across various verticals in the FMCG industry is driving the growth of the India stationary compressor market.

Restraints

High Installation and Maintenance Cost of Equipment

Compressors serve as integral equipment across various industries and their cost is very high. For instance, the cost for a 10 HP compressor is over USD 3,500. Additionally, the cost of a 25 HP reciprocating industrial compressorstarts from USD 8,000, while a 25 HP rotary compressor costs over USD 10,000. Likewise, a 50 HP rotary compressor might cost over USD 18,000. According to Energy Star Data, equipment and installation costs account for just around 12% of the entire compressor cost over its working life; maintenance accounts for 12% of the remaining 88%, while energy costs account for 76%.Even a slight delay in regular checkups and maintenance can cause serious damage to stationary compressors and increase their maintenance costs.As a result, high installation and maintenance costs are impeding the growth of the India stationary compressors market.

India Stationary Compressor Market: By Type

Based on types, the India stationary compressor market is segmented into Reciprocating (Piston), Screw, Scroll, Vane, and Centrifugal. The reciprocating compressors segment occupied the highest share in the India stationary compressor market since they are highly suitable for small-scale industries and automotive sectors. Moreover, reciprocating compressorsoffer higher value for money than screw compressors. Since India has a prominent presence of small-scale manufacturing companies, these compressors have been the go-to-compressors for small manufacturers. However, the screw compressors have proven to be more efficient in contrast to reciprocating compressors as they provide higher speed than the reciprocating compressors and delivers the same results in less time.Consequently, the screw compressors are also likely to witness substantial growth in demand during the forecast period.

India Stationary Compressor Market Size

Source: BlueWeave Consulting

India Stationary Compressor Market: By Power Type

Based on power types, the India stationary compressor market is sub-divided into Below 11 kW, 11kW- 45kW, Above 45kW –90kW, Above 90kW –160kW, and Above 160kW. The 11kW-45kW segment accumulated the highest share in the India stationary compressor market in 2020. According to India Brand Equity Foundation (IBEF), there are approximately 6.3 crore MSMEs. The MSME sector contributes more than 29% towards the GDP through its national and international trade. A large number of MSMEs is the reason for the growing demand for Above 45kW – Below 90kW.

Compressors in the power range of Above 11kW – Below 45kW and Above 45kW – Below 90kW are used extensively in textiles, food processing, paper, automotive, and small machining & fabrication workshops due to their medium size and ability to handle higher than normal requirement of pressurized air. As a result of the government's initiatives toward small and medium-sized enterprises, the India stationary compressors market is expected to grow positively.

India Stationary Compressor Market: Regional Insights

The India stationary compressor market is grouped into four regions— North, East, West, and South. The Southern region garnered the highest share in the market in 2021. However, the Northern region is anticipated to register the fastest CAGR in the coming years. The growth of the southern region is attributable to the presence of major industries in the regional states of Tamil Nadu, Karnataka, and Telangana. For example, a major manufacturer of stationary compressors, such as ELGI Equipments Ltd., is headquartered in Tamil Nadu.Moreover, Telangana and Tamil Nadu are the home of major industries like automotive and pharmaceuticals. Since India has been witnessing rising investment in healthcare and EV’s, the states are anticipated to witness a rising demand for the corresponding products as well, which in turn will drive the demand for stationary compressors and contribute to the growth of the India stationary compressor market.

Regional Insights

Source: BlueWeave Consulting

Impact of COVID-19 on India Stationary Compressor Market

Since the COVID-19 has been declared as a global pandemic, non-essential commodities and goods have been the worst hit segments. One of the major industries which have been hithard by the COVID-19 pandemic is the India stationary compressor market. In March 2020, the Indian government imposed a nationwide lockdown, and since then, the production of non-essential goods, such as stationary compressors, has been affected.During the pandemic, both supply and demand sides of the market were affected, as numerous industries were severely impacted by the restrictions imposed by the pandemic.The lockdown measures had restricted the development of end-products like home appliances, automotive, oil and gas, manufacturing, chemicals, and others. However, the rising vaccination rates in India are stimulating the stationary compressor market to regroup and launch operations to provide more efficient units in the market.

India Stationary Compressor Market- Competitive Landscape

The stationary compressor market in India is highly consolidated in nature, with larger market shares acquired by the largest organized players.However, technological advancements and the proliferation of pneumatic technology have pushed the market towards growth, which is expanding competition.

The leading players in India stationary compressor market are  Atlas Copco AB, ElgiEquipments Limited, Ingersoll Rand Inc., Anest Iwata MothersonPvt. Ltd., Kirloskar Pneumatic Company Limited, FS Elliot Compressors India Pvt. Ltd., KaeserKompressoren (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 disrupted supply chain and poor infrastructure readability are hindering the growth of the newer players, thereby reducing their chances of acquiring more market share.

Recent Developments

  • In May 2021, Atlas Copco AB announced the launch of the G 2-7 rotary screw air compressors with a new range of 3 to 10 horsepower. The G 2-7 compressors comprise a newly designed premium efficiency motor, an Elektronikon controller, and an in-house state-of-the-art low-vibration screw element. The components assist in creating a supremely efficient compressor range.
  • In October 2020, Mark Compressors, part of Atlas Copco Group in India, announced the launch of two new product variations in its piston compressor range – the Bluewind series and the Ironwind series. The newly developed compressors come equipped with a cast iron pump and a plug-and-play option, which has been given a highly durable rating by the company itself, which is anticipated to satisfy the requirements of the Indian market.

 

Scope of the Report

Attribute

Details

Years Considered

Historical data – 2015-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Million

Market Coverage

North India, East India, West India and South India

Type/Service Segmentation

By Type, Power Type, Application and Region

Key Players

Some of the key players include Atlas Copco AB, ElgiEquipments Limited, Ingersoll Rand Inc., Anest Iwata MothersonPvt. Ltd., Kirloskar Pneumatic Company Limited, FS Elliot Compressors India Pvt. Ltd., KaeserKompressoren (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

 

 

By Type

  • Reciprocating (Piston)
    • By Revolutions
      • High Speed (>900 rpm)
      • Medium Speed (450-900 rpm)
      • Low Speed (<450 rpm)
    • By Lubrication
      • With Oil
      • Oil Free
  • Screw
    • By Lubrication
      • With Oil
      • Oil Free
  • Scroll
    • Radially and/or Axially compliant
    • Non-compliant
  • Vane
  • Centrifugal

 

By Power Types

  • Below 11 kW
  • 11 kW – 45 kW
  • Above 45 kW – 90 kW
  • Above 90 kW – 160 kW
  • Above 160 kW

 

By Application

  • Food & Beverage
  • Chemicals & Petrochemicals
  • Healthcare
  • Home Appliances
  • Oil & Gas
  • Automotive
  • Manufacturing
    • Semiconductor & Electronics
    • Textile
    • Paper& Pulp
    • Metal Processing
    • Others
    • Mining & Metals
  • Power Plants
  • Others

 

By Region

  • North India
    • Himachal Pradesh
    • Haryana
    • Delhi
    • Uttar Pradesh
    • Punjab
    • Others
  • East India
    • West Bengal
    • Bihar
    • Odisha
    • Others
  • West India
    • Maharashtra
    • Gujarat
    • Rajasthan
    • Madhya Pradesh
    • Others
  • South India
    • Tamil Nadu
    • Karnataka
    • Telangana
    • Andhra Pradesh
    • Kerala

Frequently Asked Questions:

Ans: The India stationary compressor market reached USD 1,117.9 million in 2020.
Ans: There are a number of factors driving the growth of the India stationary compressor market, including the growing food & beverage industry, and the growth of exploration and production activities in the oil & gas sector.
Ans: The key 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.
Ans: Which application accounted for the largest share in the India stationary compressor market?
Ans: North India is growing at the fastest CAGR in the India stationary compressor market.