Selbyville, Delaware, June 11, 2018 (GLOBE NEWSWIRE) --
Oil-free Air Compressor Market is expected to cross USD 14 billion by 2024; according to a new research report by Global Market Insights, Inc. Major countries round the world are closely monitoring their manufacturing facilities to reduce the amounts of greenhouse and other harmful gases released into the atmosphere. Power and electricity usage has a direct impact on the generation and emission of CO2 which further results in global warming. Oil-free air compressor market will exhibit growth throughout the next six years owing to its lesser emissions than the other compressors used in the end-user industries.
Oil-free air compressor market is further driven by its increasing usage in robotics and automation. These fields are gaining popularity in several parts of the society, especially in the manufacturing and oil & gas sector. Robotics used in manufacturing sector, better known as industrial robotics find various applications in in painting, assembly, packaging, labeling, material handling, etc. Rising manufacturing activities in the developed as well as developing countries will foster the industry demand in the coming years.
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The risk of wear & tear of the machine is a concerning issue for the global oil-free air compressor market. The lubrication present in these machines are generally water or air which leads to friction and a certain level of wear, resulting in machine repairs, part replaces, and noise generation. These factors will act as hinderances for the industry growth in the coming days.
With over 80% of the industry share, stationary oil-free air compressor market will witness growth at a moderate rate owing to its huge market share. The portable product segment will account for over USD 2.5 billion by the end of the forecast span owing to its rising usage in the oil & gas, mining, and construction sector.
Based on revenue, the global centrifugal oil-free air compressor market registered a growth to capture over USD 5.5 billion in 2017 and is said to surpass USD 7.5 billion by the end of 2024. The rotary segment held a share of approximately 60% in global market and will grow with a highest CAGR in the coming days.
Browse key industry insights spread across 345 pages with 550 market data tables & 34 figures & charts from the report, “Oil-free Air Compressor Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/oil-free-air-compressor-market
Based on volume, the manufacturing segment will capture a over 10% of the oil-free air compressor market share. The healthcare segment is said to poise over USD 7.5 billion by 2024 owing to huge application of the product in this sector and the increased cost associated with it.
Considering volume, North America, led by the U.S., will exhibit growth with a CAGR of close to 3.5%. The North America rotary screw technology segment accounted for over USD 300 million in 2017 and will capture close to USD 400 million by the end of 2024.
Key manufacturers in the oil-free air compressor market include Gardner Denver, Boge Compressors, Bauer Group, Frank Technologies, Atlas Copco, Ingersoll Rand, Rolair Systems, AireTex Compressors, MEDO U.S.A, GE Energy, Sullair Corp, and Hitachi Industrial Equipment Systems to name some.
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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.