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Oil-free Air Compressor Market Global Industry Trends, Share, Size and Forecast Report By 2024

Author : Rahul Varpe | Published Date : 2020-09-14 

Oil-free Air Compressor Market will surpass USD 14 billion by 2024; according to a new research report.

Rising governmental regulations in several countries with regards to safeguarding the environment to mitigate the emission of harmful gasses and greenhouse effects that leads to ozone layer depletion, will propel the oil-free air compressor market demand. Growing product demand in various areas such healthcare and food & beverage industry where air quality needed for application is critical is expected to drive the global oil-free air compressor market growth over the forecast period.

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Further, oil-free air technology helps to avoid expensive filter replacements thereby, cutting the cost of oil condensate treatment and reduction in energy lost from pressure drop in filters. In addition, low installation & maintenance cost, portability, energy efficiency and ability to supply variation in pressure will augment the market growth. Rising manufacturing activities in industrial and non-industrial processes particularly in developing countries will strengthen the global oil free air compressor demand in the coming years.

Some restraints associated with the oil-free air compressor market are expensive raw material, noise pollution, bulky size and also the wear and tear caused due to non-lubrication will lead to friction between machine parts. These factors will hinder the global oil-free air compressor market growth in near future.

Based on revenue, stationary segment held approximately USD 12 billion in 2024 of the overall oil-free air compressor market share owing to its increasing applicability in the home appliances and manufacturing sector. The portable oil-free air compressors segment accounted for a revenue share of over USD 2.5 billion in 2024, (hand-held or wheel mounted). The effortless handling and low maintenance offered by portable oil free air compressors will spur the product demand in near future.

Based on technology, The U.S. rotary segment will witness growth at a moderate speed and accounted for over 65% share in the overall industry in 2024 and will grow with a highest CAGR owing to their increased adoption in heavy industrial applications. However, the centrifugal compressor segment held a share of over USD 7 billion in 2024 and will grow with a CAGR of close to 4% in the forecast spell.

On the basis of volume, the home appliances segment will capture significant share of over 70% in 2024 of the global oil-free air compressor market owing to its wide application in air conditioners and refrigerators for commercial as well as residential purpose. The food & beverages segment revenue will capture a comparatively lesser market share by the end of 2024 due to several regulations pertaining to safety and hygiene governing the sector.

Based on volume, Asia-pacific led by China will exhibit growth with a CAGR of over 4% owing to significant demand from the oil & gas industries along with adoption of variable speed air compressor. North America rotary scroll oil-free air compressor market accounted for over USD 215 million in 2024 and will exhibit growth with a CAGR of close to 4 %.

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The oil free air compressor market competitive landscape includes key players such as General Electric, Hitachi Industrial Equipment Systems, Ingersoll Rand, Oasis Manufacturing, ELGI Equipments Limited, Cook Compression, Atlas Copco, Gardner Denver, Bauer Group, Boge Compressors, Mitsubishi Heavy Industries, Ltd to name a few. In order to attain a dominant position in the global market, these players are focusing on research and development activities to introduce technological advancement and innovation.

 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. [email protected] | https://twitter.com/varperahul

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