Worldwide oil free compressor market is projected to reach around US $16.2 billion by the year 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2017-2026.
Rising focus on energy efficient compressors that are affordable, coupled with lower installation & maintenance costs, is expected to propel the growth of the global oil free air compressor market during the forecast timeline. The oil free compressors provide high quality, contamination free air for crucial environments, ideal for a large number of industries including healthcare, pharma, semiconductor, and food & beverages. Rising implementation of the oil free compressors in these industries is driving the market growth. In addition, these compressors offer enhanced flexibility, and can also be modified as per end-user requirements. Speaking of the regulatory scenario, governments of several countries are introducing stringent regulations and policies on environmental protection and energy conservation, which is expected to support market growth, cites the report.
The report provides an insightful analysis of the oil free compressors market drivers, challenges, and opportunities over the forecast period. A detailed analysis of the business sphere in terms of industry trends, market dynamics, Porter's five forces, regional landscape, competitive ranking analysis, and competitive vistas has also been included in the report.
Based on the product spectrum, the oil free compressor market is bifurcated into Reciprocating, Rotary Screw, and Rotary Centrifugal air compressor. Reportedly, the rotary screw air compressor market segment bagged a major share of the revenue in the year 2017 and is likely to keep up their growth throughout the forecast period. The report further cites that the rotary centrifugal compressor segment would grow considerably over the predicted timeframe, attributed to the increasing utilization in various non-mechanical applications, as well as due to their ability to reduce carbon impression, ensuring clean and fresh air. Substantial demand from the food & beverages space, due to necessary health & safety mandates, is anticipated to drive the global oil free air compressor market.
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On the basis of the end-use landscape, the global oil free air compressor market is fragmented into food & beverages, healthcare, manufacturing, textiles, chemicals, oil & gas, electronics & semiconductors, and others. As reported, the manufacturing sector held the biggest share of the worldwide market in the year 2017. The two major placement types of this market include stationary and portable. In 2017, the portable segment emerged as a leading contributor, on account of qualities such as strength and light weight. Additionally, various government initiatives taken around the world, aimed at the advancement of environmental laws have aided the oil free air compressor market growth.
Based on the regional outlook, Europe held the biggest market share in the year 2017 and is likely to lead the market throughout the predicted period, followed by Asia Pacific and North America. The growth of the Europe market is driven by strict regulations and norms enforced by the government for environmental & health safety. According to industry specialists, Asia Pacific is poised to evolve as the fastest growing region over the forecast timeline, demonstrating a growth rate higher than Europe and North America. The APAC market expansion is pushed by the augmented industrialization and developing infrastructure in the region, along with the rising number of petro-chemical plants and refineries in China and India.
The broad competitive gamut of the global oil free air compressor market includes key market players such as AireTex Compressors, Atlas Copco, Anest Iwata, Bauer Group, Cook Compression, Frank Technologies, Boge Kompressoren, FS Elliot Co., Gardner Denver, Hanwha Techwin, Hitachi Industrial Equipment Systems Co. Ltd., Ingersoll Rand, Kaesar Kompressoren, Rolair Systems, Mehrer Compression GmbH, and Sullair Corp.