The oil-free air compressor market is anticipated to grow at a CAGR of 5.06% during the forecast period of 2023-2028. The growth of the market is being driven by the increasing demand for oil-free air compressors in end-use industries such as healthcare, food and beverage, electronics, and manufacturing.
According to Stratview Research, the global oil-free air compressor market was valued at USD 17.19 billion in 2022. It is projected to reach USD 23.2 billion by 2028, growing at a CAGR of 5.06% during the forecast period.
Oil-free air compressors are used to produce compressed air that is free of oil and other contaminants. This makes them ideal for applications where the purity of the air is critical, such as in the healthcare and food and beverage industries. Oil-free air compressors are also more energy-efficient than traditional oil-lubricated compressors, which is another factor driving their growth.
The global oil-free air compressor market is segmented by product type, technology, application, and region.
By product type:
- Stationary
- Portable
By technology:
- Rotary
- Reciprocating
- Centrifugal
By application:
- Healthcare
- Food and beverage
- Electronics
- Manufacturing
- Others
By region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
North America is expected to lead the market during the forecast period, due to the increasing demand for oil-free air compressors in the healthcare and electronics industries. Europe is expected to be the second-largest market, due to the increasing demand for oil-free air compressors in the manufacturing and automotive industries. Asia Pacific is expected to be the fastest-growing market, due to the increasing demand for oil-free air compressors in the automotive and electronics industries.
The key players in the global oil-free air compressor market include:
- Atlas Copco
- Ingersoll Rand
- Sullair
- Kaeser Kompressoren
- BOGE Kompressoren
- Gardner Denver
- Doosan Infracore
These players are focusing on product innovation and expansion of their product portfolio in order to maintain their market share.
The oil-free air compressor market is a highly competitive market. The key players are competing on the basis of product features, price, and after-sales service. The market is expected to witness new product launches and strategic partnerships in the coming years.
Market Share Analysis
The global oil-free air compressor market is consolidated, with the top five players accounting for over 50% of the market share. The key players in the market are:
- Atlas Copco
- Ingersoll Rand
- Sullair
- Kaeser Kompressoren
- BOGE Kompressoren
Impact of COVID-19
The COVID-19 pandemic had a significant impact on the global oil-free air compressor market. The demand for oil-free air compressors declined in the early stages of the pandemic, as many businesses were forced to close or operate at reduced capacity. However, the demand for oil-free air compressors has since recovered, and the market is expected to grow at a healthy CAGR during the forecast period.
Future Outlook
The global oil-free air compressor market is expected to grow at a CAGR of 5.06% from 2023 to 2028. The growth of the market is being driven by the increasing demand for oil-free air compressors in end-use industries such as healthcare, food and beverage, electronics, and manufacturing.
The key trends that are expected to drive the growth of the market include:
- Increasing demand for oil-free air compressors in end-use industries
- Growing focus on energy efficiency
- Technological advancements
