Fort Collins, Colorado, April 02, 2024 (GLOBE NEWSWIRE) -- The oil-free air compressors market size was valued at USD 12.1 Billion in 2023 and is expected to reach a market size of USD 18.6 Billion by 2032 at CAGR of 4.9%.
The growing need to improve energy efficiency in various equipment, such as air compressors, is a significant factor driving the oil-free air compressor market growth. Air compressors are used in many end-use industries such as petroleum, electrical power, chemical, and manufacturing. These industries are witnessing a gradual shift from traditional manufacturing techniques to economical production methods. The energy-effective compressors are in massive demand for effective energy distribution, providing cost benefits, thereby propelling market expansion.
The increasing focus on sustainability and energy recovery equipment to improve cost savings presents growth avenues to prominent market players and can contribute to market expansion during the forecast period. These air compressors are increasingly preferred in the food & beverage industry, which needs high-quality compressed air in processes such as packing and dehydration. Besides, these compressors have no lubricant within the chamber, eliminating the chance of oil coming into contact with the food or beverage product and ensuring its quality.
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Segmentation Overview:
The global oil-free air compressors market has been segmented into product, technology, application, and region. Based on the product, the portable segment held a dominant share of the market. Based on technology, various end-use industries widely demand rotary oil-free air compressors.
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Oil-Free Air Compressors Market Report Highlights:
- The global oil-free air compressors market growth is anticipated at a CAGR of 4.9% by 2032.
- The growing demand from different end-use industries, various government regulations, and incentives to improve compressor energy efficiency are prominent factors contributing to the market growth.
- The Asia Pacific region accounted for a significant market share in 2023. This can be attributed to this region's growing manufacturing facilities and infrastructure spending. More power is generated to cater to the demands of the expanding population fuels the adoption of compressor equipment. Various infrastructure construction activities in China, Japan, and India also foster the demand for oil-free air compressors.
- Some prominent players in the oil-free air compressors market report include Atlas Copco, HTE Technologies, Doosan Portable Power, Kaeser Kompressoren SE, ELGi Equipments Ltd, Bauer Compressor Inc., FS Elliot Co., LLC, Hanwha Power Systems CO., LTD., Ingersoll Rand, Werther International Inc., and Hitachi Industrial Equipment Systems Co., Ltd.,
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Oil-Free Air Compressors Market Segmentation:
By Product: Stationary and Portable.
By Technology: Reciprocating, Rotary and Centrifugal.
By Application: Chemical, Petrochemical & Refining Industries, Steel Industry, Food & Beverages, Power Generation, Textiles, Electronics, and Others.
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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