FELTON, California, December 12, 2018
FELTON, California, December 12, 2018 /PRNewswire/ --
The global Oil Free Air Compressors Market is subject to witness a substantial growth due to the growing concerns related to air pollution and increasing number of application in industrial sector. Growing awareness level among general population regarding air quality and development of sophisticated devices in manufacturing sector is expected to favor market growth over the next seven years. Globally, the oil free air compressors industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.
Major applications of oil free air compressors include air purification and air treatment in various end-user industries across the globe. In addition, increasing demand for oil free air compressors from food & beverages sector for processing application and limit contamination of food due to poor air quality is anticipated to drive the growth of oil free air compressor market over the forecast period. Accumulation of moisture, hydrocarbon and particulate in air can contaminate end product during various manufacturing activities.
Use of compressor also contribute to contamination of air in form of carryover and wear particles. These factors are expected to fuel market demand over the next seven years. However, lack of awareness among manufactures and lower maker penetration is estimated to limit market growth over the coming years. Yet, swift decline in the cost of oil free air compressors and rising number of promotional activities by industry players is expected to offer future growth prospects for oil free air compressor industry players in the upcoming years.
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The oil free air compressors market is broadly categorized into six major segments based on the application type such as chemical industry, power & energy generation sector, paper & paperboard sector, food & beverages industry, pharmaceutical sector and healthcare industry. The chemical segment is growing rapidly in the oil free air compressors industry with substantial revenue generation in the last few years. Growing popularity of oil free air compressors in the chemical segment is attributed to the increasing use of oil free compressor to curb industrial air pollution. The food & beverages segment has also witnessed substantial growth owing to the growing requirement for sophisticated devices to minimize end-product contamination due to poor air quality.
The oil free air compressor market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in air treatment sector, massive boom in manufacturing sector, surge in number of research & development activities in the region and existence of well-established infrastructure.
Asia-Pacific region is estimated to hold major share in the compressed air treatment equipment market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, increasing manufacturing activities, rising awareness level regarding air pollution, stringent government laws & regulation by local governments to curb industrial pollution, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the oil free air compressor industry are Atlas Copco Co., Ingersoll Rand plc, Gardner Denver Co., General Electric Company, Inc., and Bauer Group.
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