Portable Oil-Free Air Compressor Market Worth $8.54 Billion By 2022
The portable oil-free air compressor market is expected to reach USD 8.54 billion by 2022, according to a new study by Grand View Research, Inc. Emergence of next-generation compressed air systems, which offer enhanced reliability and energy-efficiency is expected to drive demand over the forecast period.
Growing demand for oil-free air in purity critical applications and focus on complying with environmental regulations is estimated to fuel growth over the forecast period. Companies introducing smart compressor solutions are projected to offer lucrative opportunities for industry growth. Factors such as lower installation and maintenance cost are expected to positively impact demand.
Increasing end-user demand for enhanced air quality and reliability is projected to stimulate portable oil-free air compressor market demand. However, increasing cost of raw material can act as a challenge for the industry.
Further key findings from the report suggest:
- Rotary air compressor market accounted for over 45% of the overall revenue in 2014. They have increasingly gained popularity and are widely used in various industries. They are most generally used in sizes from about 30 hp to 200 hp. Additionally, these compressor have low initial cost and weight, compact size, and are easy to maintain.
- Manufacturing segment is estimated to exhibit substantial growth, at a CAGR of over 3.0% from 2015 to 2022. These products are critical across the manufacturing sector as they eliminate contamination in painting and surface preparation process, helping to ensure high-quality assembly. They avoid production stoppages and replacements caused due to sludge and oil hampering the robotic operation, and help manufacturers maintain high paint quality by preventing water-based paints to come in contact with the silicones found in oil.
- Europe portable oil-free air compressor market dominated global revenue in 2014, and is expected to grow at a CAGR of over 7% from 2015 to 2022. Increasing investments in Eastern Europe combined with volatile energy pricing and regulations is estimated to offer lucrative opportunities for the industry growth across this region.
- Portable oil-free air compressor market share is occupied by companies such as Atlas Copco, Ingersoll Rand, General Electric, Chicago Pneumatic, and Bauer Group. Large manufacturing companies use these products to supply large amount of moderate-pressure air to pneumatic tools.