PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1484685
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1484685
Market Overview
In 2023, the Indian compressor industry generated USD 1,872.1 million in revenue, and it is estimated to experience a CAGR of 6.6% over the forecast period, to attain USD 2,911.7 million by the end of the decade. The burgeoning automotive industry in India is anticipated to lead the demand plot for compressors. Moreover, an Indian manufacturer is rapidly growing and even the government assists the growth of the sector until it reaches the USD 1 trillion mark by 2025.
The rotary screw compressors' favourability is ever increasing currently. Nowadays, the screw compressors are still widespread in connection with air, gas, and refrigerant compressing. A compressor that works on the rotary displacement principle, which produces a constant amount of air consumption (no fluctuation) with a steady delivery pressure is applied during this operation. In contrast to reciprocating compressors, the rotary type compresses more capacities of air with comparable space occupied.
India's manufacturing industry has been growing nicely with a target of USD 1 trillion by the year 2025 under the implementation of government programs and policies. In the industry, compressed air, required for tool power, clamping, and stamping, can be produced by using industrial air compressors. The government is actively involved in the increase of FDI as well as the manufacturing sector together.
Key Insights
The dynamic compressors category is witnessing a growing need in the Indian industry.
This category is projected to uphold its supremacy over the projection period.
More than 90% of the centrifugal compressor industry in India is organized, with key manufacturers concentrating on such compressors because of their complex design and high investment needs.
Sectors such as oil & gas, steel, and cement are contributing to the rising need for dynamic compressors.
Government steps encouraging energy-effective solutions are further propelling the need.
Centrifugal compressors are favored because of their high capacity and effectiveness.
Oil-flooded compressors have lesser primary costs and need less maintenance compared to oil-free compressors.
The oil-flooded compressor is chosen as it is cost-effective and designed for industrial applications by Indian consumers, favoring maximal value for their operation budgets.
Despite that, there is a tendency to range ahead of the oil-free compressor category during the forecast period.
Oil-free compressors are such a hot topic nowadays that companies are notably launching and marketing oil-less systems that are as efficient and low-cost as oil-flooded compressors.
The stationary category holds a substantial industry share of around 75% and is projected to advance quickly in the projection period.
This development is primarily propelled by the growing automotive and manufacturing industries in the nation.
Stationary compressors are well-suited for automotive applications like rotating tires and other small tasks.
The automotive sector grips the largest industry share of approximately 40% because of high domestic automobile production.
Demand for low gas-emitting, less noisy, and energy-efficient compressors is high in the automotive sector due to environmental regulations.
The fastest growth in compressor demand is expected in the automotive industry during the forecast period.
Medium-pressure compressors generated the largest revenue in 2023 and are projected to have the highest growth rate 45% during the forecast period.
The northern region of India saw the largest revenue share in 2023, driven by automotive and industrial manufacturing applications.
NCR cities have high compressor consumption due to automotive and industrial demand.
NCR produces over 30% of passenger cars and 50% of two-wheelers in India, with a strong industrial growth rate, especially in areas like Manesar, Gurugram district.