Air Compressor Market Size To Reach $34.10 Billion By 2030

 

Air Compressor Market Growth & Trends

The global air compressor market size is anticipated to reach USD 34.10 billion by 2030, registering a CAGR of 4.7% from 2023 to 2030. Air compressors are used in various industries, such as food and beverages, home appliances, oil and gas, semiconductors and electronics, healthcare, manufacturing, and energy. The rising need for the reduction of CO2 emissions and stringent regulations pertaining to environmental conservation is anticipated to boost market growth. Moreover, eco-friendly, reliable features, ease of handling, and low maintenance costs offered by the product are propelling its demand.

The onset of the COVID-19 pandemic resulted in lockdowns and declining investments across industries and verticals, which hampered the growth of the market. However, after a short slowdown, the market is expected to rebound and witness a healthy growth rate in the post-pandemic era.

The growing consumer awareness regarding product quality, the need for improved air quality, and supportive government policies on energy conservation are anticipated to boost the market growth. At workplaces, air compressors are required to comply with the Occupational Health & Safety (OHS) regulations, which would positively impact the market over the forecast period.

Oil-free air compressors are expected to emerge as the fastest-growing lubrication segment. The growth is attributed to the increased proliferation in the manufacturing sector. Moreover, oil-free compressors reduce the operating costs by evading compressor oil separator elements and down-streaming filter replacement costs.

Asia Pacific dominated the market for air compressor in 2020 owing to rapid industrialization in emerging economies, such as India and China. The need for efficient and next-generation compressors has propelled the product demand across different industries in the region.

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Air Compressor Market Report

Air Compressor Market Report Highlights

• The stationary air compressor segment accounted for over 60.5% market share in 2023, while the portable segment is anticipated to emerge as the fastest-growing segment from 2024 to 2030
• The oil-filled compressor segment is likely to lead the market over the forecast period. These compressors are widely adopted for commercial applications by the chemical, energy, and manufacturing industries
• The rotary segment will dominate the market share over the forecast period. These compressors offer continuous airflow at different discharge pressure and operate through positive displacements. Furthermore, features such as easy maintenance and longer product life are expected to fuel the demand for these compressors over the forecast period
• Asia Pacific held the largest market share in 2023. The growing oil and gas sector in countries such as China and India is, in turn, expected to lead the growth of the market

Air Compressor Market Segmentation

Grand View Research has segmented the global air compressor market based on type, product, lubrication, application, and region:

Air Compressor Type Outlook (Revenue, USD Billion; Volume, Units 2018–2030)

• Stationary
• Portable

Air Compressor Product Outlook (Revenue, USD Billion; Volume, Units 2018–2030)

• Reciprocating
• Rotary/Screw
• Centrifugal

Air Compressor Lubrication Outlook (Revenue, USD Billion; Volume, Units; 2018–2030)

• Oil Free
• Oil Filled

Air Compressor Application Outlook (Revenue, USD Billion; Volume, Units 2018–2030)

• Healthcare & Medical
• Manufacturing
• Oil & Gas
• Home Appliances
• Food & Beverage
• Energy
• Semiconductor & Electronics
• Others

Air Compressor Air Compressor Operating Mode Outlook (Revenue, USD Billion; Volume, Units; 2018–2030)

• Electric
• Internal Combustion Engine

Air Compressor Power Range Outlook (Revenue, USD Billion; Volume, Units; 2018–2030)

• Up to 20 kW
• 21–50kW
• 51–250 kW
• 251–500 kW
• Over 500kW

Air Compressor Regional Outlook (Revenue, USD Billion; Volume, Units 2018–2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Central & South America
• Brazil
• Argentina
• Middle East & Africa
• Saudi Arabia
• South Africa

List of Key Players of Air Compressor Market

• AireTex Compressor
• Atlas Copco
• Bauer Group
• BelAire Compressors
• Cook Compression
• Compressor Products International (CPI)
• Frank Compressors
• Galaxy Auto Stationary Equipment Co. Ltd.
• Gast Manufacturing, Inc.
• GENERAL ELECTRIC
• Ingersoll Rand Plc
• Kaeser Compressors
• MAT Industries, LLC

Digital Health Market Size To Reach $946.0 Billion By 2030

 The global digital health market size is anticipated to reach USD 946.0 billion by 2030 and it is projected to grow at a CAGR of 21.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market growth driven by various factors. These include the proliferation of smartphones, advancements in internet connectivity, the development of IT infrastructure, increasing healthcare IT expenditures, overburdened healthcare facilities, a growing shortage of healthcare providers, rising demand for remote patient monitoring services, escalating medical costs, improved accessibility of virtual care services, and the increasing prevalence of chronic diseases. This growth is further propelled by the ongoing trend of digitalization in healthcare. This trend finds support in expanding public-private partnerships, emerging startups in the healthcare sector, and favorable initiatives undertaken by governments to promote digital health solutions.

Digital health encompasses diverse technologies such as telehealth services, health information technology, and mobile health (mHealth) to enhance communication within healthcare systems, fostering improved interactions between doctors and patients. The relevance of digital health technology has grown significantly, especially during the COVID-19 pandemic. These contemporary solutions enhance the patient-doctor relationship and extend preventive disease strategies. Furthermore, they contribute to a shift in healthcare towards value-based treatment, amplifying the accessibility of health information for both patients and healthcare providers.

Furthermore, integrating wearable devices into healthcare reshapes how individuals manage their health. Wearables like fitness trackers and smartwatches enable continuous monitoring of vital signs, physical activity, and other health metrics. This real-time data empowers individuals to take a proactive role in their well-being and allows healthcare providers to offer personalized preventive care. Companies such as Apple and Fitbit exemplify the success of wearables in the digital health market, emphasizing the fusion of technology and health monitoring.

Many nations have adopted telemedicine, remote monitoring platforms, and telehealth services to enable physical interactions among physicians and the patient population. Therefore, digital health industry experienced a boost in terms of revenue in 2020–2021 and is expected to maintain an upward trajectory in the projected technology life cycle. For instance, MyDoc, a telehealth platform headquartered in Singapore, witnessed a 160% growth in daily active users in 2020. Government initiatives to promote global digitalization in the healthcare sector are playing a significant role in propelling the market’s growth. For instance, in the 2022 budget session, the Government of India launched a digital health ecosystem as part of the Ayushman Bharat Digital Health Mission (ABDM). In October 2021, the French government revealed plans to invest over USD 650 million to enhance its digital health infrastructure nationally.

The digital health industry is a dynamic space where both established entities and startups compete for prominence, driven by the prospect of improving healthcare accessibility, affordability, and outcomes. Tech and healthcare giants are making ventures into this industry, coexisting with emerging local startups that address specific regional needs, attracting global investment. The growth of AI-powered solutions for patient monitoring and personalized care is evident, with the increasing involvement of healthcare professionals in their development and adoption. Moreover, various players are actively adopting strategies such as mergers, acquisitions, collaboration, partnerships, and product launches to maintain a competitive edge. For instance, in July 2023, Epic Systems Corporation collaborated with Nuance Communications, Inc., a Microsoft Company, to develop the Nuance Dragon Ambient eXperience (DAX) Express solution, which expands access to care for patients and enhances healthcare outcomes. Additionally, in December 2022, Greenway Health, LLC. Launched the Greenway Engagement Model, a client engagement program, to strengthen the healthcare technology journey of its clients.

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Digital Health Market Report

Digital Health Market Report Highlights

• Based on component, the services segment accounted for largest revenue share in 2023, owing to the growing demand for services, such as installation, staffing, training, maintenance, and other services
• Based on technology, the tele-healthcare segment led the market with the largest revenue share of 43.2% in 2023, due to increasing preference for remote patient monitoring services and shortage of healthcare professionals
• Based on the application, the diabetes segment led the market with the largest share of 24.3% in 2023 and is expected to register the fastest CAGR over the forecast period. The obesity segment is the second largest in applications of the digital health market
• Based on the end-use, the patient segment held the largest market share of 34.1% in 2023 and is expected to witness the fastest CAGR during the forecast period
• North America dominated the market with a revenue share of 38.2% in 2023 due to the rapidly developing healthcare IT infrastructure, emergence of startups, growing funding options, and improving technological literacy

Digital Health Market Segmentation

Grand View Research has segmented the global digital health market based on technology, component, application, end-use, and region:

Technology Outlook (Revenue, USD Million, 2018–2030)

• Tele-healthcare
• Tele-care
• Activity Monitoring
• Remote Medication Management
• Tele-health
• LTC Monitoring
• Video Consultation
• mHealth
• Wearables & Connected Medical Devices
• Vital Sign Monitoring Devices
• Heart Rate Monitors
• Activity Monitors
• Electrocardiographs
• Pulse Oximeters
• Spirometers
• Blood Pressure Monitors
• Others
• Sleep Monitoring Devices
• Sleep trackers
• Wrist Actigraphs
• Polysomnographs
• Others
• Electrocardiographs Fetal & Obstetric Devices
• Neuromonitoring Devices
• Electroencephalographs
• Electromyographs
• Others
• mHealth Apps
• Medical Apps
• Women’s Health
• Fitness & Nutrition
• Menstrual Health
• Pregnancy Tracking & Postpartum Care
• Menopause
• Disease Management
• Others
• Chronic Disease Management Apps
• Diabetes Management Apps
• Blood Pressure & ECG Monitoring Apps
• Mental Health Management Apps
• Cancer Management Apps
• Obesity Management Apps
• Other Chronic Disease Management Apps
• Personal Health Record Apps
• Medication Management Apps
• Diagnostic Apps
• Remote Monitoring Apps
• Others (Pill Reminder, Medical Reference, Professional Networking, Healthcare Education)
• Fitness Apps
• Services
• Monitoring Services
• Independent Aging Solutions
• Chronic Disease Management & Post-Acute Care Services
• Diagnosis Services
• Healthcare Systems Strengthening Services
• Others
• Digital Health Systems
• EHR
• E-prescribing Systems
• Healthcare Analytics

Component Outlook (Revenue, USD Million, 2018–2030)

• Software
• Hardware
• Services

Application Outlook (Revenue, USD Million, 2018–2030)

• Obesity
• Diabetes
• Cardiovascular
• Respiratory Diseases
• Others

End-use Outlook (Revenue, USD Million, 2018–2030)

• Patients
• Providers
• Payers
• Others

Regional Outlook (Revenue, USD Million, 2018–2030)

• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Italy
• Spain
• Sweden
• Denmark
• Norway
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Singapore
• Latin America
• Brazil
• Mexico
• Argentina
• MEA
• South Africa
• Saudi Arabia
• UAE
• Kuwait

List of Key Players in Digital Health Market

• Telefónica S.A.
• Epic Systems Corporation
• QSI Management, LLC
• AT&T
• AirStrip Technologies
• Google, Inc.
• Hims & Hers Health, Inc.
• Orange
• Softserve
• Computer Programs and Systems, Inc.
• Vocera Communications
• IBM Corporation
• CISCO Systems, Inc.
• Apple Inc.
• Oracle Cerner
• Veradigm
• Mckesson Corporation
• Hims & Hers Health, Inc.
• Vodafone Group
• Qualcomm Technologies, Inc.
• Samsung Electronics Co., Ltd.