BURLINGHAM, Dec. 12, 2023 (GLOBE NEWSWIRE) — The oil-free air compressor market will be valued at US$20 billion in 2023 and is expected to reach US$33.17 billion by 2030, growing at a CAGR of 7.5 % during a year. forecast periods 2023 and 2030.
The oil-free air compressor market is driven by two main factors. Firstly, growing environmental concerns and air pollution regulations have led to increased demand for oil-free air compressors. Traditional air compressors use oil for lubrication, which contaminates the compressed air and causes environmental pollution. On the other hand, oil-free air compressors are designed to produce clean, uncontaminated compressed air, making them more environmentally friendly. This factor is expected to drive the demand for oil-free air compressors in various industries such as manufacturing, healthcare and food processing.
Secondly, the growing demand for energy-saving air compressors is also driving the market growth. Oil-free air compressors are known for their higher energy efficiency compared to oil-lubricated compressors. They provide better air quality and can reduce energy consumption, resulting in cost savings for the end user. This factor is especially important in industries that rely heavily on compressed air, such as the automotive, construction and electronics industries. The growing emphasis on energy conservation and sustainability is expected to drive the adoption of oil-free air compressors in these industries.
Two major trends are shaping the oil-free air compressor market. First, the demand for portable oil-free air compressors is growing. Portable compressors offer flexibility and convenience, allowing users to move them between jobsites or locations efficiently. These compressors are especially popular in industries where mobility is critical, such as construction and mining. Additionally, the growing trend of using pneumatic tools in various industries is driving the demand for portable oil-free air compressors as they provide a reliable and efficient source of power.
Secondly, the market is increasingly paying attention to technological progress. Manufacturers are investing in research and development to improve the performance and efficiency of oil-free air compressors.
The oil and gas industry is one of the major end-use industries for oil-free air compressors. These compressors play a vital role in various industries such as offshore drilling, natural gas processing and refining. Rising global demand for oil and natural gas is expected to fuel the growth of the oil-free air compressor market.
According to industry experts, oil-free reciprocating compressors are expected to dominate the market. These compressors are widely used in the oil and gas industry due to their ability to deliver high pressure air free of oil contaminants. This segment is expected to witness significant growth over the forecast period due to rising demand in the industry.
The food and beverage industry is another major end-use industry for oil-free air compressors. These compressors are widely used in various industries including packaging, clean air supply and pneumatic conveying. Increasing demand for processed and packaged food products, coupled with stringent food safety and quality regulations, is fueling the growth of the oil-free air compressor market for the food and beverage industry.
The dominant segment of the industry is the oil-free reciprocating compressor segment. These compressors are the first choice in the food and beverage industry due to their ability to deliver oil- and contaminant-free air, ensuring food safety and quality. Owing to the growing demand from the industry, this segment is expected to maintain its dominance during the forecast period.
Read the full market research report on “Oil-Free Air Compressor Market 2023-2030, Forecast by Type, End-Use Industry, Power Rating, Pressure, Geography and Other Segments” published by CoherentMI.
In conclusion, the oil-free air compressor market offers huge growth opportunities from the oil and gas industry as well as the food and beverage industry. The leading segment of these industries is the oil-free reciprocating compressor segment. North America is expected to dominate the market and key players are investing in innovation to meet market needs.
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Post time: May-25-2024