Press release
Oil-Free Air Compressor Market 2020 Trends by Leading Players: Ingersoll Rand, Atlas Copco, Gardner Denver, Sullair, LLC, Quincy Compressor
Oil-Free Air Compressor Market
Oil-free Air Compressor Market will surpass USD 14 billion by 2024; according to a new research report.
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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 oil-free air compressor 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.
Oil-Free Air Compressor Market Growth Drivers: -
o Growing energy-efficient air compressor demand
o Increasing high purity air demand for critical applications
o Environmental regulations compliance
o Shifting focus towards robotics and automation
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.
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.
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Oil-free Air Compressor Market, by Application:
o Home appliances
o Food & beverage
o Semiconductor & electronics
o Manufacturing
o Healthcare
o Others
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 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.
Browse more info. @ https://www.globenewswire.com/news-release/2018/06/11/1519396/0/en/Oil-free-Air-Compressor-Market-to-hit-14bn-by-2024-Global-Market-Insights-Inc.html
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