Ship Compressor Market Size, Share, Growth, and Industry Analysis, By Type (Main Air Compressor, Topping Up Compressor, Deck Air Compressor, Emergency Air Compressor), By Application (Commercial Shipping, Marine Industry, Military, Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Ship Compressor Market Report Overview

• 

• Request a Free Sample to learn more about this report

The global ship compressor market size was USD 322.1 million in 2022 and market is projected to touch USD 504 million by 2031, exhibiting a CAGR of 5.1% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with Ship compressor market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

A ship compressor, also known as a marine compressor, is a device used on ships and vessels to compress air or other gases for various applications. Compressed air is often used to start large marine engines, commonly known as air-starting systems. The compressed air is injected into the engine cylinders to initiate combustion.

Many ship systems, such as pneumatic controls and automation systems, rely on compressed air to operate valves, actuators, and other components. Compressed air is utilized for cleaning machinery, removing debris, and maintaining various ship systems. Compressors are also used in shipboard refrigeration and air conditioning systems, compressing refrigerant gases to facilitate cooling and climate control. Many ship systems, such as pneumatic controls and automation systems, rely on compressed air to operate valves, actuators, and other components.

COVID-19 Impact: Pandemic Hampered the Demand for Market

The pandemic led to disruptions in the global supply chains due to lockdowns, travel restrictions, and manufacturing plant closures. This affected the production and delivery of ship compressors, causing delays and shortages in the market. The shipping industry experienced a decline in demand as global trade was severely affected. Lockdown measures and reduced economic activity led to a decrease in shipping volumes, resulting in lower demand for these compressors. Many shipping companies postponed or canceled their vessel orders, impacting the market further. With economic uncertainty and financial constraints, many shipbuilding and retrofitting projects were delayed or put on hold. This, in turn, affected the demand for market as new installations and replacements were postponed.

Latest Trends

"Rising Demand for Energy Efficiency to Fuel Market Growth"

Energy efficiency has been a significant trend in the ship compressor market. Ship owners and operators are increasingly seeking compressor systems that can reduce energy consumption, lower operating costs, and comply with environmental regulations. Efficient compressors with advanced technologies, such as variable frequency drives and optimized control systems, have gained popularity. Stringent environmental regulations have been driving the demand for eco-friendly compressors. Compliance with international emission standards, such as the International Maritime Organization's (IMO) Tier III regulations, which aim to reduce nitrogen oxide (NOx) emissions, has become crucial. Compressors equipped with technologies like selective catalytic reduction (SCR) systems or exhaust gas recirculation (EGR) systems help ship-owners meet these requirements.

Ship Compressor Market Segmentation

• 

• Request a Free Sample to learn more about this report

• By Type Analysis

According to type, the market can be segmented into main air compressor, topping up compressor, deck air compressor, emergency air compressor.

• By Application Analysis

Based on application, the market can be divided into commercial shipping, marine industry, military, others.

Driving Factors

"Growth in the Shipping Industry to Stimulate Market Growth"

The overall growth in the global shipping industry is a significant driving factor for the ship compressors market. As international trade continues to expand, there is an increasing demand for shipping vessels, which in turn drives the need for ship compressors for various applications such as air conditioning, refrigeration, and pneumatic systems. The shipbuilding industry plays a crucial role in driving the demand for market. With the rise in shipbuilding activities worldwide, especially in emerging economies, there is a growing need for compressors to be installed in newly built vessels.

"Improved Energy Efficiency to Fuel Market Growth" 

Environmental regulations aimed at reducing emissions and improving energy efficiency have a significant impact on the market. Ship compressors need to meet stringent environmental standards, such as those set by the International Maritime Organization (IMO), which require the use of energy-efficient and environmentally friendly compressor systems. The increasing adoption of liquefied natural gas (LNG) as a marine fuel is driving ship compressor market growth. LNG-powered ships utilize compressors for fuel gas supply and handling. As more ships transition to LNG as a cleaner fuel alternative, the demand for market in this segment is expected to grow.

Restraining Factors

"Environmental Regulations to Restrict Market Growth "

Increasing environmental regulations and standards in the maritime industry can pose challenges for compressor manufacturers. Stricter emission limits and regulations related to air pollution control may require the development of more advanced and environmentally friendly compressor technologies. Adapting to these regulations can be costly and time-consuming for manufacturers.

Ship Compressor Market Regional Insights

• 

• Request a Free Sample to learn more about this report

"Presence of Key Players in Asia-Pacific Anticipated to Drive Market Expansion"

Asia-Pacific holds the leading position in ship compressor market share. The region, particularly countries like China, South Korea, and Japan, has a significant presence in the global shipbuilding industry. These countries are known for their large-scale shipbuilding facilities and have been major contributors to the growth of the market. China, in particular, has a dominant position in the shipbuilding industry, with numerous shipyards and a high demand for market. South Korea and Japan also have well-established shipbuilding industries and play a crucial role in driving the market.

Key Industry Players

"Adoption Innovative Strategies by Key Players Influencing Market Growth"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio.

The top key players in the market are Sauer Compressors, Kaeser, Sperre, Ingersoll Rand, Tanabe, Hatlapa (MacGregor), Atlas Copco, Kobelco, Corken, Burckhardt Compression, Donghwa Pneutec. The strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates market demand.

List of Market Players Profiled

• Sauer Compressors
• Kaeser
• Sperre
• Ingersoll Rand
• Tanabe
• Hatlapa (MacGregor)
• Atlas Copco
• Kobelco
• Corken
• Burckhardt Compression
• Donghwa Pneutec

Report Coverage

This report examines an understanding of the Ship compressor market’s size, share, and growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.