Key oil-free air compressor market players include Atlas Copco, FS Elliott Co. LLC, Hanwha Techwin Co., Ltd., Ingersoll Rand Sullair, LLC, Sundyne, KAESER Kompressoren SE, Doosan Portable Power, Sullivan-Palatek, Inc., Quincy Compressor LLC.
New York , Jan. 16, 2024 (GLOBE NEWSWIRE) — The global oil-free air compressor market size is projected to grow at a CAGR of over 6% from 2023 to 2035. The market is expected to garner a revenue of USD 29 billion by the end of 2035, up from a revenue of USD 17 billion in the year 2022. This growth is driven by the rising demand for energy-efficient air compressors, the increasing demand from food & beverage sectors, and growing awareness about the environmental impacts of fossil fuels.
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Growing awareness of the environmental impact of oil-based air compressors is leading to a shift towards oil-free alternatives. It is noted that Lubricated air compressors are known to consume higher energy and pose a higher risk of oil contamination, in certain industries, which makes them less environmentally friendly compared to oil free compressors. Oil-free air compressors reduce carbon emissions, contributing to a more sustainable and eco-friendly operation. Also, by using oil-free air compressors, the risk of oil contamination in the environment is minimized, ensuring cleaner and safer air quality.
Oil-Free Air Compressor Market: Key Takeaways
- Market in North America to propel highest growth
- Automotive segment to garner the highest growth
- Market in Europe to grow at a significant rate
Technological Advancements in Oil-Free Air Compressors to Boost Market Growth
Advancements in compressor design have led to the development of more efficient and reliable oil-free air compressors. New designs incorporate features such as improved air flow dynamics, reduced friction, and enhanced cooling systems, resulting in higher performance and energy efficiency. For instance, CIMC Enric Holdings Limited and its affiliated companies are excited to share the news of the introduction of two state of the art hydrogen compressors. We recently unveiled our liquid driven compressor with a capacity of 90MPa/1000kg, at the CIMC Hydrogen Shanghai Equipment Manufacturing Base while our diaphragm compressor with a capacity of 45MPa was launched at the Bengbu Equipment Manufacturing Base.
The use of advanced materials in oil-free air compressors has contributed to their improved performance and durability. Materials such as lightweight alloys, high-strength polymers, and corrosion-resistant coatings are being utilized to enhance the efficiency and lifespan of the compressors, reducing maintenance requirements and increasing overall reliability.
Advancements in control systems have enabled more precise and efficient operation of oil-free air compressors. Intelligent control algorithms, integrated sensors, and real-time monitoring capabilities allow for optimal performance and energy management. These technological advancements help to minimize energy consumption, reduce maintenance costs, and improve overall compressor reliability.
Oil-Free Air Compressor Industry: Regional Overview
The global oil-free air compressor market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Increasing Production of Oil and Natural Gas to Drive the Growth in the North America Region
The oil-free air compressor market in North America region is estimated to garner the largest revenue by the end of 2035. This is attributed to the fact that North America is the largest producer of oil and natural gas in the world, and the demand for oil-free air compressors is expected to grow due to the increasing industrialization in the region. In the year 2022 the oil and gas industry, in the United States generated a revenue of 330 billion U.S. Dollars marking a significant rise compared to the previous year’s earnings of 210 billion U.S. Dollars. This increase in revenue can be attributed to the growing demand for oil-free air compressors, which are used in a wide variety of industries, including the oil and gas sector. The increased demand for oil-free air compressors is due to the environmental regulations put in place to reduce the amount of carbon emissions generated by the industry. These regulations have forced companies to switch to more efficient, environmentally friendly compressors that use little to no oil, thus leading to an increase in revenue for the oil and gas industry.
Ever Growing Manufacturing Sector to Drive the Growth in the Europe Region
The Europe oil-free air compressor market is estimated to garner the largest revenue by the end of 2035. Germany and the United Kingdom are both major production hubs for a wide range of industries, and the demand for oil-free air compressors in these countries is expected to continue growing in the coming years. From July to September of 2023 the manufacturing industry made up 9.9% of the overall economic output, in the United Kingdom. Additionally, the Europe market is estimated to grow due to increasing environmental regulations, as well as a shift in consumer preferences towards more sustainable energy sources. Moreover, Europe has a strong industrial base, and many countries rely on oil-free air compressors for their manufacturing processes. As the region’s economy stabilizes, the demand for oil-free air compressors is likely to increase, leading to increased sales. Germany and the United Kingdom, with their strong manufacturing bases, are well-positioned to capitalize on this potential growth.
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Oil-Free Air Compressor Segmentation by Application
- Home Appliances
- Food & Beverage
- Electronics
- Automotive
- Healthcare
The oil-free air compressor market automotive segment is anticipated to hold the largest revenue by the end of 2035. This growth can be attributed to rising demand for vehicles, as well as technological advancements in the automotive industry. For instance, electric cars are becoming more popular, and they require air compressors with different specifications than traditional cars. It was observed that the percentage of electric cars sold has increased by over three times in just three years rising from approximately 4% in 2020 to 14%, in 2022. Additionally, the growth of this segment is also driven by the need for more efficient air compressors for vehicles, as well as increasing demand for air compressors for other vehicles, such as trucks and buses. This is because electric cars require less energy to run, and air compressors are necessary for their operation. Furthermore, the growing demand for air compressors for other vehicles is also driven by the need to reduce emissions and increase efficiency.
Oil-Free Air Compressor Segmentation by Power
- Below 15KW
- 15KW Below 55KW
- 55KW 160KW
- Above 160KW
The 15KW below 55KW segment is anticipated to hold the largest revenue by the end of 2035 driven by the increasing demand for energy-efficient solutions. According to the International Energy Agency (IEA) energy efficiency plays a vital role in achieving the goal of Net Zero Emissions by 2050 (NZE). It is considered the significant measure, alongside electrification behavioral changes, digitalization and material efficiency in reducing energy demand. These compressors are designed to operate with minimal energy consumption, making them an attractive option for businesses looking to reduce their energy costs. This is because compressors are designed to use less power to achieve the desired level of airflow, thus reducing the amount of energy consumed. Additionally, they are designed to be more efficient in their operations, which further helps to reduce energy costs.
Oil-Free Air Compressor Segmentation by Product
- Portable
- Stationary
Oil-Free Air Compressor Segmentation by Technology
- Rotary
- Reciprocating
- Centrifugal
A few of the well-known market leaders in the global oil-free air compressor market that are profiled by Research Nester are Atlas Copco, FS Elliott Co. LLC, Hanwha Techwin Co., Ltd., Ingersoll Rand Sullair, LLC, Sundyne, KAESER Kompressoren SE, Doosan Portable Power, Sullivan-Palatek, Inc., Quincy Compressor LLC, and other key market players.
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Recent Development in the Oil-Free Air Compressor Market
- Sundyne, a company specializing in the production of vital pumps and compressors recently announced advancements to their centrifugal compressors. These compressors serve as fuel gas boosters for turbines used in industrial settings such as refineries, chemical plants, hospitals, universities and co gen facilities.
- Atlas Copco has made significant investments in solar power infrastructure in India. As a leading supplier of eco productivity solutions Atlas Copco has transitioned almost entirely to solar energy for its compressor manufacturing operations in Chakan, India. This initiative aligns, with Atlas Copcos commitment to minimize its environmental footprint.
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