The global oil free air compressors market is expected to reach USD 15.2 billion by 2025, according to a new report by Grand View Research, Inc. Air compressors are heavily used in manufacturing applications, for instance, oil-free air is directly used in various locations as a power source for manufacturing machines. A strong demand from the food & beverage sector, owing to the mandatory health & safety requirements, is expected to drive the oil free air compressors market growth over the forecast period.
Industries such as manufacturing are espousing economical manufacturing methods so as to drive profitability. The surging demand for these systems from operative energy dissemination solicitations due to cost optimizing features is predicted to fuel the industry growth. Factors such as lower installation and maintenance cost are expected to positively elevate the industry growth.
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Further key findings from the study suggest:
- On account of benefits including light-weight and durability the portable oil free air compressors emerged as a dominant segment in 2015, a trend anticipated to continue towards the end of the forecast period.
- Centrifugal oil free air compressors segment is expected to witness rapid growth from 2016 to 2025, which is primarily ascribed to their ability to reduce carbon footprint ensuring clean and reliable air supply.
- The manufacturing sector captured the largest share in 2015; however, home appliances followed by oil & gas segment are anticipated to witness fastest growth owing to the criticality of these products, wherein even a droplet of oil result into the production equipment spoilage.
- Asia Pacific is expected to emerge as the fastest growing region with a CAGR exceeding 4.0% over the forecast period, mainly on account of rapid industrialization and expanding manufacturing sector.
- The market is fragmented in nature and the key purveyors comprise Atlas Copco, Ingersoll Rand, Gardner Denver, General Electric and Bauer Group among others, wherein mergers & acquisitions along with technologically advanced product development remain to be the key strategies adopted to gain competitive advantage.
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About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.