Oil Filled Air Compressor Market forecast
Unveiling oil filled air compressor market outlook in terms of the initiatives undertaken by core manufacturers: global industry to hit the 25-billion-dollar benchmark by 2024
Atlas Copco’s latest product launch is likely to set a novel benchmark for prominent oil filled air compressor market players. The ZR 90-160 VSD+, the company’s most recent oil-free rotary screw air compressor delivers up to 35 percent energy savings and is absolutely perfect for myriad end-use industries including electronics, automotive, F&B, pharmaceuticals, and textiles. Additionally, the water-cooled products is incorporated with state-of-the-art compressor elements, an improved monitoring system, a brand-new design, and two high-efficiency permanent magnet motors. Atlas’s product launch is vividly remnant of the fact that novel design methodologies for increasing the durability and efficacy of air compressors are poised to majorly drive oil filled air compressor market trends in the years to follow.
U.S. Oil Filled Air Compressor Market Size, by End-user, 2013 – 2024 (USD Billion)
Enumerating yet another instance in oil filled air compressor industry, a few days earlier, one of the renowned industrial air compressor manufacturer, DV Systems proudly unveiled an energy-efficient rotary screw air compressor. The product is integrated with new components that enable stable system pressure and high capacity air delivery. A year before, Ingersoll Rand – another noteworthy contender in oil filled air compressor market, launched its next-generation oil filled rotary screw compressors designed for high compressed air output. The products apparently are capable of successfully enhancing the efficiency of air compressors without hampering the existing reliability. Endowed with advanced features and improved performance, rotary technology is emerging as a viable alternative, driving rotary-based oil filled air industry share over the years ahead.
It is a rather conspicuous fact that low noise generating compressors are highly preferred in myriad industries such as construction, manufacturing, and oil & gas, considering occupational safety measures. Indeed, these compressors are a major help as far as the reduction of the occurrence of health hazards such as hearing disabilities due to high noise levels is considered. Quite overtly, in order to adhere to occupational safety standards, oil filled air compressors are being prominently deployed in end-use sectors, considering their ability to reduce noise levels while in operation, further stimulating this vertical.
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Speaking of occupational safety and the reduction of health issues, the UK based air compressor manufacturer, Vert Rotors requires a special mention. The company has developed an innovative portable air compressor technology for ensuring reduced safety and health problems. This technology provides air compressed at 300psi while generating only 65dB noise level, which is far lesser than the noise generated from conventional air compressors. Given that manufacturers are now focusing on simplifying the problematic operational issues and the applicability of products, oil filled air compressor market is expected to command substantial gains ahead. In fact, as per estimates, portable oil filled air compressor industry size is projected to register a CAGR of 3.5% over 2018-2024.
The competitive hierarchy of oil filled air compressor market is inclusive of top-notch magnates that have been consolidating their presence across this vertical through the initiation of frequent mergers and acquisitions. The Japanese technology company, Hitachi for instance, in April 2017, acquired the U.S. based air-compressor manufacturing unit of Accudyne Industries for USD 1.24 billion and strengthened its client base across North America oil filled air compressor market.
The aforementioned instance is an apt evidence justifying that the development of advanced products will have a highly remarkable impact on oil filled air compressor industry size. As end-use industries gear up to accept next-generation products brought forth by leading industry players, oil filled air compressor market share will soar to massive heights, with a CAGR estimation of 3% over 2018-2024.
Author Name : Sunil Hebbalkar