Portable Oil Free Air Compressor Market is Expected to Grow With a CAGR of 3.60% During the Forecast Period of 2018-2025, Says Esticast Research and Consulting
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As per the report “Portable Oil-Free Air Compressors Market By Type ( Reciprocating Type Portable Oil-Free Air Compressors, Rotary Type Portable Oil-Free Air Compressors, Centrifugal Portable Oil-Free Air Compressors ), By Application ( Semiconductors & Electronics, Food & Beverage, Healthcare, Home Appliances, Energy, Oil & Gas, Manufacturing ), Industry Trends, Estimation & Forecast, 2017 – 2025″
In 2017, the rotary air compressor segment generated the highest revenue share of the global portable oil free compressor market. Among major regions, Europe was the highest revenue generating market in 2017.
“The continuously rising demands for clean and oil- free compressed air, for critical applications is estimated to fuel the market growth in the near future. Moreover, with the innovations regarding novel and advanced air compression systems introduced by key market players are projected to offer lucrative opportunities for industry growth.”
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Manufacturing industry has the most extensive application of portable oil-free air compressors. There are various commodities and items which are produced through air compression by the manufacturing firms. The most common example is the processing of plastic products through injection molding processes. The plastic containers which are used for packaging food products, house hold chemicals, cosmetics and many other things, are stored in these plastic containers. In addition to this, these compressors are highly preferred for power pneumatic tools, air powered tools, cutting and welding equipment, ejecting the pieces from molds, sandblasting finished metals and many others. The very market segment is expected to hold nearly 1/4th of the global market by 2025, growing with a CAGR of 4.06% during the forecast period.
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Rotary oil free portable compressors segment held the largest revenue in 2017, owing to its high efficiency and least complicated construction.
By Technology, the portable oil-free air compressor market is categorized as reciprocating, rotary and centrifugal. Out of these, rotary compressors are considered to be a more advanced and efficient technology. Moreover, they are highly efficient when incorporated with continuous and longer work durations. Rotary compressors require less maintenance and are least noisy. Apart from this, oil-free air compressors are also being highly adopted for domestic and light load purposes such as inflating tires and many others. The very market segment held more than 40% of the global portable oil free compressor market revenue in 2017.
Portable Oil Free Air Compressor Market by Application, 2017
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Europe held largest revenue share of global portable oil free air compressor market in 2017 and is expected to continue its domination trend throughout the forecast period
In Europe, where environmental and food safety regulations are very stringent, increasing concerns regarding air pollution might put forward some lucrative opportunities for the market to grow with a substantial growth rate. Europe portable oil-free air compressor industry led global revenue in 2017, accounting more than 1/4th of the overall demand owing to increasing applications in the exploration, production, refining, and processing of crude oil & gas products. Further investments in Eastern Europe are expected to provide significant opportunities for manufacturers. On the other hand, North America is anticipated to have moderate growth over the forecast period owing to emergence of saturation in various industry sectors, growing with the CAGR of 2.78%.
North America portable oil free air compressor market, by application, 2017
Key Findings of Global Portable Oil Free Air Compressor Market
• On the basis of application, Healthcare segment will exhibit the fastest CAGR of 4.23% during the forecast period of 2018-2024.
• By type, rotary air compressors market segment is expected to witness the fastest CAGR of 3.88% during the forecast period.
• In China, the Semiconductor and Electronics segment held nearly 14% of the total regional market revenue, in 2017.
• Geographically, India to exhibit the fastest growth rate of 5.48% in the near future.
Product launch has emerged out as the key marketing strategy among the major market players. Some prominent market players are Atlas Copco, BelAire Compressors, Gardner Denver, Frank Technologies, Gast Manufacturing, Hitachi, GE Energy, Grainger Company, Heyner, Ingersoll-Rand, MAT Industries, Kaeser Compressors, Parker, Rolair Systems and others.