New York, NY 24 July 2020:According to a new study published by Polaris Market Research the global oil free air compressor market is anticipated to reach USD 16.2 billion by 2026. Owing to the growing focus upon energy efficient compressors that provide cost advantage, with lower installation and maintenance costs, the oil free air compressor market is projected to gain traction over the forecast period.
Oil free compressors provide high quality and contamination free air for critical environments. Such requirements are majorly in the pharma, healthcare, food & beverage and semiconductor industries. Increasing implementation of these oil free compressors in these industries are pushing the market. Along with this, governments of many countries are coming up with strict regulations and policies on energy conservation and environmental protection which are also anticipated to boost growth in this market. These compressors also provide increased flexibility and can be modified towards end-user requirements for the provision of enhanced service offerings. This is presumed to drive the oil free compressor market over the forecast years.
The rotary screw air compressors held a considerable revenue share in 2017 inferable from their expanded implementation in heavy industrial end-uses and are anticipated to maintain their growth during the forecast period. The centrifugal compressor segment is expected to grow significantly over the forecast years, which is fundamentally attributed to the developing utilization in non-mechanical applications. Air compressors are intensely utilized as a part of manufacturing applications. A huge demand from the food & beverage sector, attributable to the compulsory health and safety mandates, is presumed to drive the oil free air compressors market over the forecast time frame.
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Europe has the highest market share in 2017 and it is anticipated to lead the market followed by Asia-Pacific and North America. This growth is majorly due to stricter norms and regulations laid down by the government for health safety and environmental safety standards. Increasing industrialization, growing infrastructure and increasing petro-chemical plants and refineries in the developing countries of India and China in the Asia-Pacific region is pushing the market for these oil free compressors in this region.
Key Findings from the study suggest the centrifugal oil free air compressors segment is presumed to witness quick development from 2017 to 2026, which is fundamentally credited to their capacity to diminish carbon impression guaranteeing clean and fresh air supply. Asia Pacific is projected to rise as the fastest developing region with a with a growth rate surpassing North America and Europe during the forecast period. Government activities towards advancement and the ascent in development of environmental laws around the globe has supplemented to the development of the oil free air compressor market. Owing to the qualities such as light-weight and strength the portable oil free air compressors were as a predominant section in 2017, and is foreseen to continue over the coming years. The manufacturing sector accounted for highest market share in 2027.
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