Trusted Business Insights presents the Latest Study on Oil Free Air Compressor Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Abstract, Snapshot, Market Analysis & Market Definition: Global Oil Free Air Compressor Market
The global oil free air compressor market size was valued at USD 11.24 billion in 2018 and is expected to register a CAGR of 4.8% from 2019 to 2025. Growing demand for oil free air compressors in application areas where air quality is of critical importance is expected to drive the market over the forecast period. These compressors offer enhanced operational efficiency and highly reliable running. This is propelling their usage in end-use industries to ensure compliance with several industry standards specifying the level of oil concentration in compressed air.
Food & beverage, manufacturing, home appliances, oil & gas, and energy are some of the key end-use sectors for the oil free air compressors. Rising environmental awareness has resulted in a spate of regulations to ensure improved air quality. Thus, demand for low maintenance compressors are likely to boost the product sales over the forecast period.
In addition, growing emphasis on energy efficiency, energy recovery, and reduction of CO2 emissions is expected to boost the product demand over the next few years. Moreover, rising demand for value-added services and need to monitor compressed air installations are projected to drive the global market growth over the years to come. The cost of raw materials is steadily increasing, which may have a negative impact on the market over the forecast period.
The primary raw materials used in the manufacturing of these compressors include copper, steel, and aluminum. The demand for these raw materials has increased over the years, on account of rising product demand. Thus, rise in the product costs can only be offset by augmented sales from the end-use sectors.
Market Segmentation, Outlook & Viewpoint: Global Oil Free Air Compressor Market
Product Market Segmentation & Outlook (Revenue, USD Million, 2014 – 2025)
Technology Market Segmentation & Outlook (Revenue, USD Million, 2014 – 2025)
Power Rating Market Segmentation & Outlook (Revenue, USD Million, 2014 – 2025)
2kW to 55kW
More than 55kW
Application Market Segmentation & Outlook (Revenue, USD Million, 2014 – 2025)
Semiconductor & Electronics
Food & Beverage
Oil & Gas
Key Players, Recent Developments & Regional Insights: Global Oil Free Air Compressor Market
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Based on product, the market has been segmented into stationary and portable. The portable segment held the largest market share in 2018 and is anticipated to expand at a noteworthy CAGR over the forecast period. Product features, such as high speed, high-quality digital system, and low operating noise and maintenance costs, are expected to contribute to the segment growth.
Growing consumer awareness and supportive government policies concerning energy conservation are also likely to drive the segment. The stationary segment is also expected to witness a significant CAGR from 2019 to 2025. These products offer a larger tank size, resulting in a higher air-compression capacity and widely used in the oil & gas and construction industries.
Power Rating Insights
The 2 to 55 kW power rating captured more than 50% of the overall market share in 2018 and is projected to be the fastest-growing segment. This can be accredited to the demand for the low-power products in the rotary and centrifugal compressors segment. Widespread adoption of these products in numerous end-use industries is anticipated to boost the segment growth further.
Furthermore, government policies on energy conservation and rising consumer awareness are estimated to drive demand over the forecast period.Further, increasing end-users demand for enhanced air quality and reliability is projected to stimulate the growth of portable oil free compressors market.
Based on technology, the market has been segmented into reciprocating, rotary/screw, and centrifugal. The rotary/screw segment captured a significant market share in 2018 and is projected to expand at a CAGR exceeding 4% over the forecast period. This growth is ascribable to extensive adoption of this technology in heavy industrial applications. However, the centrifugal segment is anticipated to gain traction over the forecast period, predominantly on account of growing usage in non-industrial applications. Centrifugal products are often utilized in automobile, refining, and oil & gas industries. Rapid growth of these industries is a key factor boosting the segment development. Centrifugal technology is usually preferred in industrial environments on account of benefits offered, such as reduced payback period, which is a key factor of consideration for the consumers.
The manufacturing industry captured over 30% of the global market share in 2018 and is expected to register a CAGR of more than 4.0% from 2019 to 2025. Portable compressors are extensively used in the manufacturing industry. For instance, the oil free air can be directly utilized in various plants as a power source for the manufacturing of machines and equipment. In steel manufacturing, air is directly blown into the furnace, which is used to heat the steel and to cool the rolled steel. Oil free compressors find application where entrained oil carry-over is not acceptable, for instance, in the manufacturing of semiconductor and home appliances.
These compressors are lighter in weight, relatively affordable, and produce equal air flow and pressure as compared to its oil-lubricated counterparts, thereby leading to increased demand from the aforementioned industries. Furthermore, end-use industries including food & beverage and healthcare reflect the escalating need for the use of clean air for efficient operations. To this effect, several regulations pertaining to safety and hygiene are being implemented in these sectors, which, in turn, leads to an increased product demand.
The Asia Pacific market is anticipated to expand at the highest CAGR over the forecast period due to increased expenditure on infrastructural development and manufacturing facilities. Latin America and the Middle East & Africa are also expected to witness significant growth in future owing to the changing regulatory scenario and rising awareness concerning the use of eco-friendly and sustainable products. Rising need to increase the power generation capacities to effectively meet the demand of growing population has fueled the adoption of these compressors in the Middle East region.
In addition, untapped potential for downstream activities in developing countries including Kuwait, UAE, and Qatar offers new growth avenues for the market. The North America and Europe regions witnessed a considerable growth in 2018. However, the market shares in these regions are anticipated to decline over the forecast period owing to the saturation of end-use industries. Furthermore, the widespread financial crisis and economic slowdown in Europe has adversely impacted the product demand.
Oil Free Air Compressor Market Share Insights
The market is fragmented in nature with the key companies accounting for a major share of the global market. Some of these companies include Atlas Copco, General Electric, Ingersoll-Rand PLC, and Gardner Denver. Most of these industry participants focus on M&A to expand and diversify their product offerings. In addition to offering products with integrated control capabilities, manufacturers also provide retrofitting solutions for the existing products. Industry competition is primarily based on aspects of product pricing and certification and compliance from several organizations.
Key Insights Covered: Global Oil Free Air Compressor Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Oil Free Air Compressor industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Oil Free Air Compressor industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Oil Free Air Compressor industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Oil Free Air Compressor industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Oil Free Air Compressor industry.
Research Methodology: Global Oil Free Air Compressor Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other
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