Overview and Scope
An oil-free air compressor refers to a type of air compressor that operates without the use of oil lubrication in its compression chamber. These compressors are used to provide dependable and contaminant-free compressed air for sensitive applications where oil contamination is not acceptable or desirable.
Sizing and Forecast
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.
To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/oil-free-air-compressor-global-market-report
Segmentation & Regional Insights
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
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.
Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=14762&type=smp
Major Driver Impacting Market Growth
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.
Key Industry Players
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.
The oil free air compressor market report table of contents includes:
1. Executive Summary
………..
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Market Size - The hazelnut market size has grown strongly in recent years. It will…
Market Size - The IoT gateway devices market size has grown rapidly in recent years.…
The industrial automation cable market size is expected to see strong growth in the next…
Market Size - The zinc rich coating market size has grown rapidly in recent years.…
The fleet management software market size is expected to see rapid growth in the next…
Market Size - The time-sensitive networking (TSN) market size has grown exponentially in recent years.…