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Oil-free Air Compressor Market Size
- Report ID: GMI460
- Published Date: Apr 2023
- Report Format: PDF
Oil-free Air Compressor Market Size
Oil-free Air Compressor Market size surpassed USD 16.5 billion in 2022 and is anticipated to register 5% CAGR from 2023 to 2032 attributed to the increasing demand for energy-efficient industrial devices.
Oil-free air compressors are gaining popularity, given their ability to curb energy and maintenance costs, environmental footprint and contamination. In emerging nations, the requirement for compressed air is growing, mainly due to the expansion of industrial plants. Additionally, the introduction of strict energy efficiency standards will result in the replacement of traditional oil-powered air compressors with eco-friendly options. Based on regulations from the U.S. EPA and the U.S. DOE, the energy efficiency of appliances rose from 30% to 90%, indicating a rise in the use of efficient air compressors.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Oil-free Air Compressor Market Size in 2022: | USD 16,940 Million |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 5.1% |
| 2032 Value Projection: | USD 27,165 Million |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 307 |
| Tables, Charts & Figures: | 655 |
| Segments covered: | Product, Power, Technology, Application, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Despite the usage advantages, oil-free air compressors are associated with high initial costs as compared to oil-powered counterparts. Heavy-duty and side-by-side compressors used for industrial and manufacturing applications are also comparatively more expensive than those compressors designed for residential applications. These factors may create a hindrance to oil-free air compressor market development to a certain extent. However, the mounting HVAC adoption will boost the consumption of air compressors for use in home appliances, bolstering the business outlook.
Oil-free Air Compressor Market Scope
