February 21, 2024
Oil Free Air Compressor Market

Oil Free Air Compressor Market Is Expected To Be Flourished By Growing Adoption From Medical Industry

Oil free air compressors are machines that are used to compress air or other gases without the use of oil in their operation. They primarily find application in industries where compressed oil-free air is essential such as in medical, pharmaceutical food & beverage, and semiconductor industries. Oil free air compressors are used in medical industry for various applications such as surgical tools, oxygen concentrators, ventilators, and dental equipment. Strict regulations from FDA regarding usage of oil-free air in healthcare equipment is driving market growth.

The global oil free air compressor market was valued at at US$ 20 Bn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023-2030, as highlighted in a new report published by CoherentMI.

Market Dynamics:

The (Oil Free Air Compressor Market) is expected to be flourished by growing adoption from medical industry. With technological advancements, usage of minimally invasive surgeries and various other medical procedures is increasing. Oil-free air is necessary during such surgeries and medical equipment to avoid contamination. Stringent regulations from FDA regarding usage of oil-free air in medical equipment in order to prevent corrosion and contamination is driving demand for oil free air compressors in hospitals and clinics. Moreover, growing elderly population and cases of chronic diseases is increasing demand for advanced medical treatments and equipment which in turn is fueling growth of oil free air compressors market over the forecast period. However, high maintenance cost of oil free air compressors due to usage of advanced technologies may hinder market growth.

Segment Analysis

The global oil free air compressor market is dominated by the portable segment which holds around 50% market share. This is because portable oil free air compressors are very convenient to move around within small spaces in manufacturing plants and workshops. They are lightweight and easy to handle. Their maneuverability makes them highly preferable for on-site operations where fixed air compressors cannot be utilized.

Global Oil Free Air Compressor Market Segmentation

By Type

Oil-free Rotary Screw Compressors

Oil-free Reciprocating Compressors

Oil-free Centrifugal Compressors

Others

By End-use Industry

Power Generation

Food & Beverage

Pharmaceuticals

Home Appliances

Textile

Oil & Gas

Others

By Power Rating

0-50 HP

51-250 HP

251-500 HP

Above 500 HP

By Pressure

0-20 Bar

21-100 Bar

101-350 Bar

Above 350 Bar

By Region:

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

PEST Analysis

Political: The oil free air compressor market is impacted by various government policies and regulations around the world regarding industrial safety and workplace environment. Stricter emission norms in many countries promote the use of oil-free compressors.

Economic: The market sees growth during strong economic cycles when manufacturing and industrial activities pick up pace. Regional economic development and investments in industries influence demand.

Social: With rising health awareness, the hazards of oil-contaminated air are widely understood. This drives adoption of oil-free compressors in factories and commercial spaces to provide cleaner air.

Technological: Advancements in compressor elements and components have enhanced the performance and efficiency of oil-free compressors. Variable speed drives and digital controllers help optimize air supply. New materials make them more durable and reliable.

Key Takeaways

The global Oil Free Air Compressor Market Size is expected to witness high growth over the forecast period of 2023-2030 supported by stringent industrial norms and expanding manufacturing sector globally. The global oil free air compressor market was valued at at US$ 20 Bn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023-2030.

Regional Analysis: Asia Pacific region currently dominates the global market and is expected to maintain its leading position throughout the forecast period driven by growth in industrial production across China, India, Indonesia and other Asian countries. North America and Western Europe are established markets while Central and Eastern Europe, Middle East & Africa, and Latin America are emerging markets expected to showcase high growth.

Key Players: Key players operating in the oil free air compressor market 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 market is consolidated in nature with top players such as Atlas Copco, Ingersoll Rand and KAESER accounting for a major chunk of market share. However, regional and local suppliers are growing rapidly as well.

Reasons to Purchase Oil Free Air Compressor Market Report:

1. Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

2. Develop/modify business expansion plans by using substantial growth offerings in developed and emerging markets.

3. Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Oil Free Air Compressor Market.

FAQ’s

Q.1 What will the market development pace of the Oil Free Air Compressor Market?

Q.2 What are the sales, revenue, and price analysis of the top players of the Oil Free Air Compressor Market?

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*Note:
1.       Source: CoherentMI, Public sources, Desk research
2.       We have leveraged AI tools to mine information and compile it