Oil Free Air Compressor Market Analysis Report By Product, By Technology, By Power Rating, By Application And Segment Forecasts From 2019 To 2025

Industry Insights

The global oil-free air compressor market size was accounted for USD 11.24 billion, in 2018. It is anticipated to grow at a CAGR of 4.8% over the forecast period, 2019 to 2025. Increasing demand for oil-free air compressors in air quality managing applications is boosting the market growth. Air compressors provide high reliability and improved operational efficiency. These benefits are proliferating the need for air compressors in industrial applications and thus driving the market.

These air compressors are widely used across energy, manufacturing, oil & gas, food and beverage, and home appliance sector. In addition, growing environmental awareness regarding air quality is projected to increase the demand for oil-free air compressors in the next few years.

Furthermore, with rising prominence on energy recovery, CO2 emission is projected to foster market growth. Additionally, the increasing need for value-added service in product installation is expected to gain traction in the forecast period. Growing raw material costs may restrain the market growth.

Steel, copper, and aluminum are used for manufacturing air compressors. The demand for raw materials is rising owing to increasing product demand.

Product Insights

The market fragmented into portable and stationary depending on the product. In 2018, the portable product segment dominated the market with the highest market share in the overall market. Benefits such as low operation noise, high quality, high speed, and low maintenance cost are contributing to market growth.

The stationary product segment is projected to expand at a substantial CAGR during the forecast period. Supportive government regulation concerning energy conservation is expected to positively impact market growth. This product provides a larger tank size capacity and is effective in carrying high air-compression levels thus is widely used in construction, and oils, gas industries.

Power Rating Insights

In 2018, the 2 to 55 kW power rating category segment led the market with the highest share of over 50.0% in the global market. It is estimated to grow at the fastest CAGR during the forecast period. Centrifugal and rotary compressors use this power rating which is supporting the market growth.

In addition, favorable government policies regarding reducing undesirable gases emission are expected to bolster the market growth. Moreover, the rising demand for improved reliability and energy-efficient products is augmenting the growth of air compressors.

Technology Insights

Based on technology, the market is fragmented into rotary/screw, reciprocating, and Centrifugal. The Rotary/screw type segment is anticipated to register a CAGR of over 4.0% during the forecasted period. Increasing demand for the product due to the growing industrial application is projected to proliferate the market growth. The Centrifugal type segment is expected to grow at a significant rate from, 2019 to 2025. Centrifugal-based products are widely used in refining, oil & gas, and automobile industries. This technology also provides advantages like a reduced payback period which is projected to boost the market growth.

Application Insights

In 2018, the manufacturing sector held the largest market share of 30.0% in the overall market. It is projected to expand at a CAGR of over 4.0%during the forecasted period. Portable compressors are highly used in the manufacturing industry. In steel, manufacturing air is blown inside the furnace and is used for heating & cooling steel. These air compressors are also used in home appliances and semiconductor manufacturing.

Air compressors are lightweight and are capable of producing the same pressure and are flow when compared to oil lubricant equipment. Thus, these products are utilized in the healthcare, and food, beverage industries for clean air applications.

Regional Insights

Asia Pacific is projected to grow at the fastest CAGR during the forecasted period due to rising industrial & manufacturing activities across the region. The Middle East and Latin America are estimated to grow at a significant rate from 2019 to 2025. The growing population along with the rising need for power generation is fueling the market growth.

Developing countries such as UAE, Qatar, Kuwait are projected to offer ample growth opportunities owing to rising downstream activities. The saturation of end-use verticals across Europe and North America is expected to adversely impact market growth.

Impact of COVID-19

The communal spread of COVID-19 has drastically affected the oil-free air compressors market. The international travel ban, further the lockdown situation has hampered the production of air compressors and disrupted the supply chain in the manufacturing process.

Product innovation is expected to play a vital role in the post-pandemic market. For instance, Ingersoll Rand, the air compressor manufacturer offers screw compressors that are used in medical operations and other pharmaceutical applications. Compressed air is necessary for the oxidation, fermentation process in the medical sector. Thus, the market is projected to grow steadily over the next few years.

Oil-Free Air Compressor Market Share Insights

Leading players in the market include General Electric, Gardner Denver, Atlas Copco, Ingersoll Rand PLC, Sullair LLC, among others. Key players in the industry account for the majority of the market share. Key participants focus on strategic acquisitions, partnerships to increase their product offering. For instance, in 2017, Ingersoll Rand has acquired MB Air System Limited to expand their supply & service capabilities.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Million Insights has segmented the global oil-free air compressor market report on the basis of product, technology, power rating, application, and region:

• Product Outlook (Revenue, USD Million, 2014 - 2025)
    • Stationary
    • Portable

• Technology Outlook (Revenue, USD Million, 2014 - 2025)
    • Reciprocating
    • Rotary/Screw
    • Centrifugal

• Power Rating Outlook (Revenue, USD Million, 2014 - 2025)
    • 2kW to 55kW
    • More than 55kW

• Application Outlook (Revenue, USD Million, 2014 - 2025)
    • Manufacturing
    • Semiconductor & Electronics
    • Food & Beverage
    • Healthcare
    • Home Appliances
    • Energy
    • Oil & Gas
    • Others

• Regional Outlook (Revenue, USD Billion, 2014 - 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
        • France
        • Italy
        • Spain
        • Russia
    • the Asia Pacific
        • China
        • India
        • Japan
        • South Korea
        • Singapore
        • Australia
    • Latin America
        • Brazil
        • Mexico
        • Argentina
    • Middle East & Africa (MEA)
        • South Africa
        • UAE