Oil Filled Air Compressor Market Analysis

Oil Filled Air Compressor Market Analysis

The oil filled air compressor market is fragmented into portable and stationary. Among these, stationary accounted for the majority share of the entire product market in 2017 and is likely to witness the slow growth by the end of forecast timeframe. Stationary compressors of smaller sizes are extensively used in automobiles, refrigerators and air conditioners for compressing the refrigerant in the system while the larger types are used in manufacturing and industrial applications to provide high volume of compressed air for painting, metalworking, and operating pneumatic tools.
 

Portable oil lubricated air compressor market will grow with around 3.5% CAGR during the forecast timeframe. These compressors are used in households for filling air in inflatable items such as tires, inflatable swimming pools, balloons, etc. and in industries where compressed air is required at multiple locations.
 

The oil filled air compressor market is segmented, based on technology, into reciprocating, rotary and centrifugal. Rotary oil lubricated air compressor will account for more than 60% of the entire market share of the product market in 2017. The new technological innovation regarding maintenance, efficiency and low cost will propel the rotary oil lubricated air compressor market by the end of forecast timeframe.
 

In terms of revenue, reciprocating oil lubricated air compressor accounted for 3.5 billion in 2017 and will grow at sluggish rate owing to substitution by rotary compressors. This will result in reciprocating product losing its market share to rotary product in the forecast timeframe.
 

The oil filled air compressor market is further diversified into seven major application categories including home appliances, mining & quarrying, oil & gas, energy, electrical & electronics, manufacturing, and building & construction. The other niche application includes food & beverage, textile, medical, etc.
 

Home appliances hold majority of the volumetric share in 2017 but generated low revenue, as the hermetic compressors used in home appliances are small in size and capacity and will gain the market at sluggish rate by the end of forecast timeframe.
 

Manufacturing segment generated revenue more than USD 6.5 billion in 2017 and will grow at substantial rate by the end of 2024. The oil filled air compressor is used in operating air tools on production lines, cutting and welding equipment, monitoring equipment, ejecting pieces from molds, adjusting roller and feed machinery, during blowing processes of plastics and other materials, for sandblasting and metal finishing as well as operating automatic machinery. They are also used for driving screws, turning nuts, positioners, clamps, air chucks, air knives, etc.
 

Asia Pacific is a crucial contributor in the product market and accounted for over 60% of the global oil filled air compressor market share in 2017. The region will witness a significant growth owing to innovative technology and initiatives. For instance, the China government proposed 46 pilot projects, focusing on new technological advancement to implement smart manufacturing as part of its ‘Made in China 2025’ initiative.
 

Mexico product market was valued over USD 700 million in 2017 and is likely to grow at significant annual growth rate by the end of forecast timeframe. In 2018, Mexico secured nearly USD 100 billion investment in oil & gas sector for Deepwater exploration. The significant application of the product in the oil & gas equipment will bolster the market by the end of 2024