Oil-free Air Compressor Market will surpass USD 14 billion by 2024.

Sellbyville, DE -- (SBWire) -- 10/18/2018 --Oil-free Air Compressor Market will surpass USD 14 billion by 2024. Rising governmental regulations in several countries with regards to safeguarding the environment to mitigate the emission of harmful gasses and greenhouse effects that leads to ozone layer depletion, will propel the oil-free air compressor market demand.

Growing product demand in various areas such healthcare and food & beverage industry where air quality needed for application is critical is expected to drive the global oil-free air compressor market growth over the forecast period.

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The Portable Oil-Free Air Compressors Market accounted for a revenue share of over USD 2.5 billion in 2024, (hand-held or wheel mounted). The effortless handling and low maintenance offered by portable oil free air compressors will spur the product demand in near future. Based on revenue, stationary segment held approximately USD 12 billion in 2024 of the overall oil-free air compressor market share owing to its increasing applicability in the home appliances and manufacturing sector.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

AireTex Compressors
Atlas Copco
Bauer Group
ELGI Equipments Ltd
Boge Compressors
Cook Compression
MEDO U.S.A
Frank Technologies
Gardner Denver
GE Energy
Hitachi Industrial Equipment Systems Co., Ltd.
Ingersoll Rand
Kaeser Compressors
Kobelco
Oasis Manufacturing
Rolair Systems
Sullair Corp
Tamturbo Oy
Thomas Gardner Denver Inc.
Zen Air Tech Private Limited

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Based on technology, The U.S. rotary segment will witness growth at a moderate speed and accounted for over 65% share in the overall industry in 2024 and will grow with a highest CAGR owing to their increased adoption in heavy industrial applications. However, the centrifugal compressor segment held a share of over USD 7 billion in 2024 and will grow with a CAGR of close to 4% in the forecast spell.

On the basis of volume, the home appliances segment will capture significant share of over 70% in 2024 of the global oil-free air compressor market owing to its wide application in air conditioners and refrigerators for commercial as well as residential purpose. The food & beverages segment revenue will capture a comparatively lesser market share by the end of 2024 due to several regulations pertaining to safety and hygiene governing the sector.

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The oil free air compressor market competitive landscape includes key players such as General Electric, Hitachi Industrial Equipment Systems, Ingersoll Rand, Oasis Manufacturing, ELGI Equipments Limited, Cook Compression, Atlas Copco, Gardner Denver, Bauer Group, Boge Compressors, Mitsubishi Heavy Industries, Ltd to name a few.  In order to attain a dominant position in the global market, these players are focusing on research and development activities to introduce technological advancement and innovation.