Worldwide rotary scroll air compressor market is expected to exceed US $5.5 billion by the year 2024, 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 2019-2024.
According to the report, the ability of rotary scroll air compressor to maintain uniform temperature along with providing a sterile breathing environment is the major factor driving the rotary scroll air compressor market growth over the forecast period. The product is used in medical & pharmaceutical vertical to prevent the patients from encountering air-borne diseases by isolating them and providing quality-assured air. Other applications of rotary scroll air compressor in the medical sector include microbiology lab, hematology lab, and immunology lab among others.
Apart from its medical applications, the product has extensive usage in the automotive industry. The growing use of superchargers to increase the density of air for pressurized air supply to IC engine will boost the demand for rotary scroll air compressor globally in the transportation & automotive sector. It is also used for the elimination of gas fragments from sealed volume and hence has massive demand as vacuum pumps, cites the report.
The report cites that the presence of wide range of air compressors such as screw, reciprocating, and centrifugal which reportedly have comparatively higher airflow capacity and low maintenance cost, will hamper the demand of rotary scroll air compressors. Another factor restricting the market growth is the existence of strict regulations regarding the efficient operations and energy conservation in different nations.
According to the report, the rotary scroll air compressor market is bifurcated into oil-free and oil-filled segments based on lubrication. The oil-filled compressors have varied applications in food & beverage sector, home appliances, and medical & pharmaceutical industry, growing at a CAGR of over 2% by 2024. While a revenue of 3% CAGR is anticipated from the oil-free segment.
Based on the application landscape, the rotary scroll air compressor market is segmented as home appliances, automotive & transportation, food & beverage, biotechnology, semiconductors & electronics, and commercial printing among others. The necessity for maintaining hygienic atmosphere in research and medical labs will increase the demand for product in biotechnology segment depicting a CAGR of 2% by volume over the forecast period.
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In terms of regional contribution, European region is presumed to offer numerous growth opportunities owing to the increased use of the product in food & beverage and home appliances industry along with the presence of numerous medical & pharmaceutical organizations in the region. The introduction of new features such as thermal camera in new product variants to control temperature will further fuel the product demand across diverse applications in the region.
The key players of the rotary scroll air compressor market profiled in the report comprise Atlas Copco, Sullair, LLC, Ingersoll-Rand plc., Gardner Denver Inc., Emerson Climate Technologies Inc., and Boge Compressors among others.