Oil Free Air Compressor Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The oil free air compressor market size has grown steadily in recent years. It will grow from $14.03 billion in 2023 to $14.67 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to increasing demand for oil-free compressed air in sensitive applications, stringent regulations regarding air quality and environmental protection, growth of industries requiring contamination-free compressed air, concerns about product purity and compliance with industry standards, expansion of healthcare and pharmaceutical sectors necessitating clean air, adoption in food and beverage processing for avoiding product contamination, rising awareness about the benefits of oil-free compressors in reducing maintenance costs.
The oil free air compressor market size is expected to see strong growth in the next few years. It will grow to $17.94 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to shift towards energy-efficient and sustainable compressed air solutions, expansion of manufacturing industries in emerging economies, adoption of oil-free compressors in automotive and electronics manufacturing, increasing investments in infrastructure development and construction, growing emphasis on operational efficiency and cost savings, focus on reducing carbon footprint and emissions in industrial processes. Major trends in the forecast period include the adoption of oil-free compressor technology, expansion of demand in industries, integration of advanced filtration systems, adoption of variable speed drive technology, integration of remote monitoring features, and increasing emphasis on compliance.
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Scope Of Oil Free Air Compressor Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Oil Free Air Compressor Market Overview
Market Drivers –
The rising automotive industry is expected to propel the growth of the oil free air compressor market going forward. The automotive industry refers to the collective activities, organizations, and businesses involved in the design, development, manufacturing, marketing, and sale of motor vehicles. The automotive industry is on the rise due to increased demand for electric vehicles (EVs) and the introduction of autonomous driving features. Oil-free air compressors play an important role in ensuring the dependability, performance, and safety of numerous automotive applications, such as painting and surface finishing, brake testing, and tire inflation. For instance, in June 2023, according to reports shared by the Society of Motor Manufacturers and Traders (SMMT), a UK-based trade association, sales of passenger cars in the UK rose 25.8% from 140,958 units in 2022 to 177,266 units in 2023. Therefore, the rising automotive industry is driving the growth of the oil free air compressor market.
Market Trends –
Major companies operating in the online assessment software market focus on digitalizing academic exams to adapt to the changing landscape of education and recruitment processes. This platform refers to an online system or software application that enables the creation, administration, and management of examinations or assessments entirely through a web browser. For instance, in February 2021, Mercer LLC, a US-based financial services company, launched its web-based examination platform to digitize academic exams. This platform offers a comprehensive suite of tools for conducting virtual assessments, online exams, and talent evaluations. It provides remote proctoring, skill evaluation, and customizable assessments to cater to various organizational needs. Additionally, it features remote proctoring, automated grading, real-time monitoring, streamlined administration, and faster turnaround.
The oil free air compressor market covered in this report is segmented –
1) By Product: Stationary, Portable
2) By Power Rating: Below 15kW, 15-55kW, 55-160kW, Above 160 kW
3) By Technology: Reciprocating, Rotary or Screw, Centrifugal
4) By Application: Food And Beverage, Pharmaceutical, Semiconductor And Electronics, Chemical, Oil And Gas, Automotive, Other Applications
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Regional Insights –
North America was the largest region in the oil free air compressor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the oil free air compressor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the oil free air compressor market are Mitsui Co. Ltd., Hitachi Industrial Equipment Systems Co. Ltd., Fusheng Precision Co. Ltd., Atlas Copco Group, General Electric Company, Ingersoll Rand plc, CIASONS Industrial Inc., Doosan Portable Power, Aerzener Maschinenfabrik, ELGI Equipments Ltd., Sullair LLC, Cook Compression, Sundyne Corp., Medo U.S.A Beverages Pvt. Ltd., Kaeser Kompressoren SE, BAUER Engineering India Pvt. Ltd. , FS Elliott Co. LLC, Sullivan-Palatek Inc., Hanwha Techwin Co. Ltd., Tamturbo Oyj, Kobelco Construction Machinery Co. Ltd., AireTex Compressors LLC, Rolair Systems, Nanjing Compressor Co. Ltd., Zen Air Tech Private Limited, Frank Technologies Pvt. Ltd.
Table of Contents
- Executive Summary
- Oil Free Air Compressor Market Report Structure
- Oil Free Air Compressor Market Trends And Strategies
- Oil Free Air Compressor Market – Macro Economic Scenario
- Oil Free Air Compressor Market Size And Growth
…..
- Oil Free Air Compressor Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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