How Is The Global Oil Free Air Compressor Market Defined?
An oil-free air compressor refers to a type of air compressor that operates without the use of oil lubrication in its compression chamber. These compressors are used to provide dependable and contaminant-free compressed air for sensitive applications where oil contamination is not acceptable or desirable.
Oil Free Air Compressor Global Market Report 2024 provides data on the global oil free air compressor market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The oil free air compressor market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Oil Free Air Compressor Market Size Expected To Expand, And At What Annual Growth Rate?
The oil-free air compressor market has experienced steady growth, rising from $14.03 billion in 2023 to $14.67 billion in 2024, with a CAGR of 4.6%. Historical growth factors include the increasing demand for oil-free compressed air in sensitive applications, stringent air quality regulations, and the growth of industries requiring contamination-free solutions. The market is expected to reach $17.94 billion by 2028, with a CAGR of 5.2%. Future growth drivers include a shift toward energy-efficient and sustainable solutions, manufacturing expansion in emerging economies, and increasing infrastructure investments. Trends include the adoption of advanced compressor technologies, integration of remote monitoring, advanced filtration systems, and a focus on reducing carbon emissions.
What Are The Key Drivers Fueling Growth In The Oil Free Air Compressor Market?
The expansion of the automotive industry is expected to drive the growth of the oil-free air compressor market. The automotive industry is growing due to the rising demand for electric vehicles (EVs) and the introduction of autonomous driving features. Oil-free air compressors are crucial for applications such as painting, surface finishing, brake testing, and tire inflation, ensuring the dependability and performance of various automotive functions. In June 2023, the Society of Motor Manufacturers and Traders reported that sales of passenger cars in the UK rose 25.8% from 140,958 units in 2022 to 177,266 units in 2023. Therefore, the growth of the automotive industry is fueling the demand for oil-free air compressors.
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What Are The Principal Market Segments In The Global Oil Free Air Compressor Industry?
The oil free air compressor market covered in this report is segmented –
1) By Product: Stationary, Portable
2) By Power Rating: Below 15kW, 15-55kW, 55-160kW, Above 160 kW
3) By Technology: Reciprocating, Rotary or Screw, Centrifugal
4) By Application: Food And Beverage, Pharmaceutical, Semiconductor And Electronics, Chemical, Oil And Gas, Automotive, Other Applications
Which Emerging Market Trends Are Altering The Oil Free Air Compressor Sector?
In the oil-free air compressor market, major companies are focusing on the development of advanced products, such as industrial oil-free rotary screw air compressors, to boost revenue. These compressors, which operate without oil lubrication, use intermeshing rotors to compress air. In November 2023, Kaishan USA, a US-based manufacturer, introduced the KROF, a series of two-stage oil-free rotary screw air compressors. The KROF is designed to deliver high-quality ISO 8573-1 Class 0 oil-free compressed air and incorporates intercooling and aftercooling for optimal performance in sensitive applications requiring high air purity.
What Is The Leading Region In The Oil Free Air Compressor Market?
North America was the largest region in the oil free air compressor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the oil free air compressor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
