Selbyville, Delaware,, Nov. 09, 2022 (GLOBE NEWSWIRE) --
Oil-free Air Compressor Market is expected to cross a valuation of USD 27 billion by 2032, according to the latest research study by Global Market Insights Inc. The introduction of stringent environmental regulations will act as a major factor propelling the industry demand.
The increasing shift toward sustainability worldwide is encouraging several businesses to opt for more environmentally friendly systems such as oil-free air compressors, that can curb the release of harmful pollutants. The report claims that the product’s capability to lower the production of impurities during manufacturing processes will also augment device production.
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Oil-free air compressor market share from the portable product type is anticipated to register revenue worth USD 200 million by 2032, owing to the rising construction and industrial manufacturing projects. For instance, in November 2022, Samsung unveiled plans to construct a semiconductor fabrication facility in Texas. The introduction of new construction projects such as these will escalate the need for compressed air to power drills, hammers, and other tools. The recovery in drug supply following COVID-19 disruptions will also boost the adoption of portable oil-free air compressors to run conveyor systems, among other applications.
The 55 kW - 160 kW power air compressor segment is set to cross USD 4.5 billion by 2032. Oil-free air compressors in this power range are considered ideal for high-volume applications or manufacturing units in the chemical, food & beverage, and automotive sectors. The chemical manufacturers have also been emphasizing facility expansion. In July 2022, BASF announced the final phase of the USD 780 million expansion project for its methylene diphenyl diisocyanate (MDI) facility. Developments such as these will proliferate the usage of 55 kW - 160 kW air compressors for chemical transport applications.
Oil-free air compressor market revenue share from the rotary technology segment is projected to record more than USD 12 billion by 2032. As compared to their counterparts, rotary technology-powered compressors are gaining increased acceptance due to their lower installation and maintenance costs and high efficiency. The rapid development of coal mines, especially in developing nations such as India, to meet growing energy requirements will therefore fuel product consumption.
The manufacturing application sector will register more than 4.5% CAGR during 2023-2032. The adoption of oil-free air compressors in the manufacturing industry is increasing due to it’s use as cutting and welding equipment, feed and roller machinery adjustment, metal finishing, and sandblasting. Several manufacturing facilities also have portable air compressors for use as backup units, to enable smoother operations. These attributes will encourage manufacturers to install more oil-free air compressors in their facilities, bolstering the industry outlook.
The North America oil-free air compressor market is poised to attain 3% gains through 2032. The mounting number of packaging and refrigerated food warehouses is one of the key drivers for industry growth. For example, in April 2022, U.S.-based GreenSeed Contract Packaging included 20,000 square feet of additional space at its headquarters to address the evolving demand for raw material warehousing. Furthermore, the increase in oil and gas exploration in the U.S. will further promote the use of oil-free air compressors in the region.
The strategic landscape of the oil-free air compressor industry is inclusive of contenders such as Gardner Denver, Inc., Boge Compressors (Boge Kompressoren Otto Boge GmbH & Co. KG), Air Squared, Aerzener Maschinenfabrik GmbH (Aerzen), Ciasons Industrial Inc., Sullivan-Palatek, Inc., and Kaeser Kompressoren SE, among others. These companies are focusing on initiatives such as mergers and acquisitions to expand their footprint in the market.
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Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Oil-free Air Compressor industry 3600 synopsis, 2018 – 2032
2.1.1 Business trends
2.1.2 Packaging type trends
2.1.3 Material trends
2.1.4 Regional trends
Chapter 3 Oil-free Air Compressor Industry Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2018 – 2032
3.3 Industry ecosystem analysis
3.4 Raw material analysis
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.1.1 Growing demand for energy-efficient air compressors
3.5.1.2 Increasing high purity air demand for critical application
3.5.1.3 Environmental regulations compliance
3.5.1.4 Shifting focus toward robotics and automation
3.5.2 Industry pitfalls and challenges
3.5.2.1 High initial cost of oil-free air compressor
3.5.2.2 Risk of wear & tear and sound pollution
3.6 Regulatory landscape
3.7 Growth potential analysis
3.8 Pricing analysis
3.9 Porter’s analysis
3.10 PESTLE analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
