The global portable oil-free air compressor market size is projected to touch USD 8.54 billion by 2022, as per the report released by Million Insights. The evolution of new compressed air systems, which provide energy-efficiency and reliability is anticipated to supplement the demand for the product over the estimated period.
The surging demand for oil-free air in critical applications and emphasis on adhering to environmental norms is projected to bode well for the market growth from 2015 to 2022. Companies launching smart compressor are anticipated to offer growth avenues to the industry players. Lower maintenance and installation cost are further estimated to augment the product demand in the upcoming years.
Rising end-user demand for improved air-quality and dependability is expected to fuel the growth of portable oil-free air compressor market over the estimated period. However, increasing raw material costs can hinder market growth from 2015 to 2022. These devices are widely used in the healthcare segment to clean air for dentistry and also for reducing the air contamination. In the food & beverage category, these products minimize contamination risk for several food & beverage producers.
Europe dominated the market in 2014, holding more than 30% of the total demand due to the rising applications in processing, production, exploration, and refining of crude oil products. Asia Pacific is anticipated to exhibit a CAGR of 4% from 2015 to 2022 owing to the growing incorporation of oil refineries. North America is projected to grow moderately in the upcoming years. MEA and Latin America are estimated to foresee substantial growth due to rising awareness and acceptance of sustainable portable products.
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Further key findings from the report suggest:
• Rotary air compressor held for more than 45% revenue share in 2014. They are extensively used across several industries owing to features like cost-effective, compact, lightweight, and easy maintenance.
• Manufacturing division is projected to ascend with a CAGR of 3.0% over the forecast period. These products are important in the manufacturing segment as they prevent contamination in the surface and painting process, assisting in high-quality assembly.
• Europe led the market in 2014 and is predicted to ascend with a CAGR of 7% over the estimated period. Rising spending in Eastern Europe is anticipated to offer good prospects to the manufacturers.
• Leading players of the portable oil free air compressor market are Ingersoll Rand, Vanair, GE Energy, AireTex, Oasis Manufacturing, Hoerbiger, Atlas Copco, Rolair Systems, Gardner Denver, Frank Technologies, Bauer Group, and Cook Compression.
Million Insights has segmented the global portable oil-free air compressor market on the basis of technology, application and region:
Portable Oil-Free Air Compressor Technology Outlook (Revenue, USD Million, 2012 - 2022)
Portable Oil-Free Air Compressor Application Outlook (Revenue, USD Million, 2012 - 2022)
• Semi-conductors & Electronics
• Food & Beverage
• Home Appliances
• Oil & Gas
Portable Oil-Free Air Compressor Regional Outlook (Revenue, USD Million, 2012 - 2022)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa