Oil-Free Air Compressor Market Size By Technology (Rotary, Reciprocating, Centrifugal), By Product (Stationary, Portable), By Application (Semiconductor & Electronics, Healthcare, Oil & Gas, Home appliances, Food & Beverage, Manufacturing), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, China, India, Brazil, Mexico), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023
Published Date: May 2016 | 175 Pages | Report ID: GMI460 Report Format: PDF
Oil-Free Air Compressor Market size is will grow from over USD 10 billion in 2015 at 4.2% CAGR from 2016 to 2023. Rising demand pertaining to energy efficiency as well as adoption of portable technology is driving the industry growth.
Germany oil-free air compressor market size, by technology, 2012-2023 (USD Million)
Industries are practicing more cost-effective manufacturing techniques; thereby energy-efficient compressors are in huge demand for effective energy distribution. It offers industries to perform cost effective operations. Various government norms and regulations are also supporting for cost-effective operations. For instance, Chinese government has introduced stringent regulations for environment protection, which has eventually increased the demand for energy-efficient equipment.
These products can be easily handled which in turn has increased its adoption in low-duty applications. Several other features of this product include low maintenance as they have few wearing parts, built-in thermal overload for additional motor protection, minimizes wear and results in cooler running pump, cast iron cylinder reducing wear and increasing pump life, and removable for easy maintenance. The aforementioned factors are expected to surge the global oil-free air compressor market size over the next few years.
Healthcare sector was valued at over USD 910 million and is expected to reach USD 1.3 billion by 2023. Oil-free technology eliminates the risk of product contamination and also reduces product safety issues from tablet protection to aseptic applications.
Prices of raw materials are significantly mounting, which have negatively impacted the industry, and this trend is expected to continue over the forecast period. The major raw materials utilized in manufacturing are copper, steel, and aluminum. The demand for aluminum and copper has been increased over the years owing to usage of these materials in numerous other applications.
Oil-Free Air Compressor Market, By Product
Portable oil-free air compressor market size is forecast to surpass USD 5.5 billion by 2023, growing at 4.5% CAGR from 2016 to 2023. This can be credited to rising consumer awareness and favorable government norms on energy conservation. Moreover, rising need for superior air quality and reliability is likely to excite growth. Several manufacturers are focusing on eco-friendly and low maintenance products in order to enlarge their customer base. Stationary product is likely to grow at 4.0% CAGR till 2023.
Oil-Free Air Compressor Market, By Technology
Reciprocating or piston technology operates through constructive displacement, where gas or air is intent in a compression chamber and the volume is concentrated mechanically. It was valued at USD 2.2 billion in 2015 with revenue estimated to reach USD 2.9 billion by 2023, at 3.8% CAGR from 2016 to 2023. These are accessible in various sizes from less than 1 hp to over 600 hp.
Rotary oil-free air compressor market share has steadily gained popularity, with extensive deployment across a range of industries. These are available in sizes from about 30 hp to 200 hp. This technology has low initial cost, weight, compact size, and is easy to maintain. The segment is expected to grow at 4.0% CAGR from 2016 to 2023.
Oil-Free Air Compressor Market, By Application
Oil & gas sector accounted for more than 20% of global revenue in 2015, and is poised to grow at 3.9% CAGR from 2016 to 2023. This application segment avoids potential shutdowns as well as expensive replacements of nitrogen blankets requisite in transfer stations and LNG tankers. In addition, it also prevents oil contamination and promotes trouble-free operation of older equipment.
Manufacturing industry is projected to arrive at over USD 4.6 billion by 2023. Surging adoption in food processing sector is expected to further boost demand over the next seven years. These devices find application in cooling food as well as packaging and boxing of products with the help of clean air.
Oil-Free Air Compressor Market, By Region
Europe oil-free air compressor market share is expected to exhibit potential growth owing to increasing applications in the production, refining, processing and exploration of crude oil & gas products. The region is forecast to grow at a CAGR of 3.1% over the forecast period. Asia Pacific, predominantly strengthened by India and China air compressor industry, is expected to be the fastest growing region from 2016 to 2023. This can be mainly attributed to rising establishment of oil-refineries and petro-chemicals plants across Asia.
North America, dominated by U.S. oil-free air compressor market share, was valued at around USD 2.1 billion in 2015. Growth across the region can be credited to rising awareness for eco-friendly portable products.
Competitive Market share
Key industry participants include Atlas Copco, GE, Ingersoll Rand, Bauer Group, BelAire Compressors and Kaishan Group. Major players are focusing on new product development in order to gain competitive edge. For instance, in 2015, Atlas Copco launched UD+ coalescing compressed air filters. It combines two filtration processes in one product. It also provides efficiency gains, energy savings and reliably.
Moreover, in the same year, GE Energy introduced Gas Compression Power Packager program to offer authentic Waukesha parts along with trained service technicians.
Oil-Free Air Compressor Industry Background
Compressed air supports numerous manufacturing processes. The amount of air level required for efficient and effective production forms a vital factor in containing compressed air energy. Raw material suppliers provide steel, brass, copper, aluminum, nickel, rubber, and thermoplastic materials. A few inputs are supplied directly as raw materials and processed by the suppliers, whereas some suppliers engage in primary processing and provide component parts to the manufacturers as per the company specifications.
Distribution is crucial to manufacturers’ success. The physical distribution of products is concentrated to a number of distribution centers and the delivery efficiency of these is continuously monitored. Transport efficiencies can save the customer time and costs while reducing the environmental impacts of their own operations. Companies such as Ingersoll Rand have distribution centers worldwide to enhance the production efficiency. Smarter packaging may reduce the fuel requirement for transport.
Different types of materials are used during the manufacturing process including steel, which needs huge amount of energy and water. Additionally, different types of waste are also generated during the process; recycling this waste is crucial for environmental benefits. However, global organizations may face difficulty in some countries, which may not have proper infrastructure to support recycling needs. For instance, Atlas Copco designs its products to be disassembled easily for recycling. They also buy back old products to repair and resell ensuring no usable part is wasted. The company has also worked in many communities to create and improve the recycling facilities.
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