Oil free air compressors are designed for applications that need compressed air to be free of hydrocarbon contaminants. It utilizes rotary or reciprocating mechanism to compress ambient air without using oil. These compressors find use across various industries such as food and beverage, pharmaceutical, automotive and semiconductor manufacturing where oil contamination can damage sensitive components and products. The global oil free air compressor market is driven by growing industrialization and stringent regulations around contamination control. The growing preference for energy efficient equipment from industries is boosting demand for oil free compressors.
The Global Oil Free Air Compressor Market Size is estimated to be valued at US$ 20 Bn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the global oil free air compressor are Fusheng, Kobelco, General Electric, Aerzen, Atlas Copco, Sullair, Mitsui, Hitachi, Anest Iwata, Nanjing Compressor, Boge, Fusheng, Shenyang Yuanda Compressor, Johnson Controls, Oasis Manufacturing, Elgi, KAESER, Gardner Denver, Ingersoll Rand.The extensive use of oil free air compressors across industries such as food and beverage, pharmaceutical and semiconductor is driving the market growth. Technological advancements including development of compressor controls, additional sensors and remote connectivity solutions are making oil free compressors more efficient.
Market Trends
The Growing Popularity Of Portable Oil Free Compressors: Market players have launched portable oil free compressors catering to on-site requirements of various end-use industries. This is driving the demand for oil free compressors.
Growing Popularity Of Hybrid Compressor Systems: Hybrid compressor systems use both oil free and oil lubricated compressors to optimize performance. Such systems are gaining traction to satisfy complex air supply requirements of manufacturing facilities.
Market Opportunities
Increasing investments in infrastructure development in emerging economies will drive demand for construction equipment where oil free compressors are used. Rising focus on green buildings and sustainability offers opportunities for eco-friendly oil free compressor technology.
Impact of COVID-19 on Global Oil Free Air Compressor Market
The outbreak of the COVID-19 pandemic has affected the growth of the global oil free air compressor market. In the initial months of 2020, many countries imposed strict lockdown measures that resulted in the closure of manufacturing facilities and industrial operations. This led to a plunge in demand for oil free air compressors from end-use industries like manufacturing, food & beverage, healthcare, etc. Supply chain disruptions and restrictions on transportation further exacerbated the challenges for players in the market.
As the pandemic spread, several countries struggled to augment their healthcare infrastructures in a short span of time. This generated lucrative opportunities for oil free air compressors used in medical gas booster systems and other critical hospital applications. However, the overall decline in demand outweighed the gains from the healthcare sector. Many market players faced order postponements, revenue falls and profit losses during this period. They had to revise their strategic plans and budgets for the year.
With mass vaccination drives underway in 2021, economic activities started recovering gradually across regions. Manufacturing activities picked up pace and industrial projects resumed operations. This recovery in end-use industries has boosted demand for oil free air compressors once more. While supply chain challenges persist, market players are optimistic about growth in the coming years backed by pent-up demand as well as replacement of aging compressor fleets. They are investing in new product development and expanding service networks to prepare for strong post-pandemic growth.
Geographical Concentration of Global Oil Free Air Compressor Market
In terms of value, the Asia Pacific region holds the largest share of the global oil free air compressor market. China, India, Japan and other emerging Asian countries have abundant manufacturing industries that heavily rely on compressed air systems. The region is a major production base for sectors like automotive, electronics, machinery, food processing and more. Additionally, growing industrialization and the 'Made in China' manufacturing trend have significantly increased demand.
Europe follows Asia Pacific in market share, led by countries like Germany, UK, Italy, France etc. that have well-established manufacturing industries. Strict emission regulations also drive replacement of old compressors with energy-efficient oil free models. North America is another profitable region with major demand coming from the US. Sectors like packaging, healthcare, petrochemicals etc. utilize compressors on a large scale.
Fastest Growing Region for Global Oil Free Air Compressor Market
The Middle East and Africa region is expected to witness the fastest growth in demand for oil free air compressors over the forecast period. Countries like Saudi Arabia, UAE, Iran, Egypt, South Africa etc. are heavily investing in industrial development programs, infrastructure projects as well as expansion of manufacturing facilities. Development of new economic zones, oil & gas projects and growing focus on in-country value addition are fueling installation of air compression systems. Additionally, rising healthcare infrastructures particularly in the GCC nations will drive medical air compressors market in MEA region. Growing industries, rising incomes and supportive government initiatives make this a lucrative emerging market.
What Are The Key Data Covered In This Global Oil Free Air Compressor Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Global Oil Free Air Compressor's growth between 2024 and 2031.
:- Accurate calculation of the size of the Global Oil Free Air Compressor and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Global Oil Free Air Compressor Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Global Oil Free Air Compressor vendors
FAQ’s
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Q.4 Which of the top Global Oil Free Air Compressor companies compare in terms of sales, revenue, and prices?
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Author Bio:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
