Vantage Market Research
Nov 18, 2021
According to analysts at Vantage Market Research, the Oil-Free Compressor Market is expected to reach USD 16.2 Billion by 2028, growing at a CAGR of 4.8% between 2021 to 2028. The rising popularity for the energy-proficient compressor by the end-user, reliance for handling, and administrative structural accentuating and to keep up with adequate air quality principles for critical application are a serving part of the vital drivers of the market. Also, the increase in the development of a wide scope of enterprises is relied upon to support the market during the time.
Key Finding
- The robotic systems segment is projected to expand at the fastest CAGR exceeding 4.9% over the forecast period due to the increasing environmental information that has appeared in a spate of management to secure improved air quality.
- The oil and gas segment held a market share of around 34% in 2020. This share is due to the increasing emphasis on energy efficiency, energy recovery, and reduction of CO2 emissions.
- Asia Pacific is expected to expand at a CAGR of over 5% from 2021 to 2028. This surge is attributed to the rising demand for the oil-free compressor market in developing economies such as China and India.
The growing interest for administrations and the need to monitor packed air establishments are projected to drive the worldwide market development over the years to come. The raw materials utilized in the assembling of compressors incorporating copper, steel, and aluminum is increasing. The interest in these unrefined substances has expanded throughout the long term. Along these, an increase in product expenses must be balanced by increased deals from the end-use areas.
North America region is poised to record the highest CAGR, owing to the increasing demand in countries, such as the U.S., Canada, and Mexico. The end-user believed it to be solid for having better accomplishment as it viewed as good in utilization among the clients and increasing in the reception of the item attributable to the ecological standard set by government bodies to further develop air quality is probably going to support the deals of oil-free compressors in the region.
Some of the key players in the Oil-Free Compressor Market include MAN Diesel & Turbo, Mitsui, Kobelco, Aerzen, Boge, Hitachi, Compare, Burckhardt Compression (Middle East) FZE, MHI, Gardner Denver, Atlas Copco, Ingersoll Rand, Aerzen, GE, Elliott, Anest Iwata, Sullair, CKG INTERNATIONAL, FZE, among others. The market is comprised of a high degree of competition due to the presence of numerous key players.