Oil Filled Air Compressor Market
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
Oil-free rotary scroll air compressor market to register commendable proceeds over 2019-2024, soaring demand from medical and home appliances sector to fuel the industry growth
Surging demand for cooling systems in residential and commercial spaces along with rising global population will propel rotary scroll air compressor market growth over the coming years. Air conditioners (A/C) have certainly become an essential consumer appliance in both residential and commercial sectors. In fact, according to the U.S Department of Energy (DoE) report, A/C represent to about a $100 billion, 100 million-unit/year global market, accounting for 4.5 exajoules of site energy consumption each year.
U.S. Rotary Scroll Air Compressor Market Size, by Lubrication, 2013 – 2024 (USD Million)
Needless to mention, with such high product and energy demands, the adoption of rotary scroll air compressor has become vital in the recent years. The product offers low noise, reliable, smoother, and more energy efficient outputs compared to some compressors. Further, due to fewer parts, scroll air compressors are less prone to mechanical failure. Attributed to these features, the product adoption in industries like pharmaceutical, healthcare, food & beverage, etc.is expected to soar high in the coming years. .
Application of rotary scroll air compressor in the home appliances
With rapid urbanization and an increase in people’s standard of living, the use of rotary scroll air compressors has, of late, grown significantly in certain home appliances. The component allows products to provide low noise, energy efficient operations whilst offering cleaner compressed air across the system, benefits that bring about significant aids to human health, comfort and productivity.
Furthermore, with rising population, urban climatic conditions and disposable income in emerging economies, the use of efficient air cooling appliances is likely to surge over the coming years, in turn supplementing market growth. Citing one such instance, IEA’s 2018 report claim that the global stock of air conditioners in buildings will reach 5.6 billion by 2050, up from current 1.6 billion trends.
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Oil-free air compressors to propel the pharmaceutical and healthcare sectors
Based on lubrication, oil-free rotary scroll air compressor offers key features like high reliability, low vibration and sound levels, continuous operation, 100% duty cycle, energy efficient, compact design, low maintenance and cleaner air outputs, essential features required in medical, research and biotechnology sector.
Some oil-free compressors are also designed specifically for industrial and laboratory applications to offer the highest level of air purity and eliminating the risk of product contamination due to oil carryover. In addition, the technology also helps in avoiding expensive filter replacements, cutting the cost of oil condensate treatment, and reducing energy loss from pressure drop in filters – benefits that will significantly propel the product adoption in the aforementioned sectors. In fact, the oil-free rotary scroll air compressor market is expected to register a CAGR of 3% over 2019-2024.
APAC rotary scroll air compressor market to amass commendable growth proceeds
Rising urbanization, per capita income and climatic conditions across countries like China and India are driving the Asia Pacific rotary scroll air compressor market growth. The product has gained immense demand from the region’s food and beverage sector, owing to its ability to provide cleaner and dry air to ensure high product quality. Moreover, increasing investment to set up or upgrade existing cold storage infrastructures is likely to supplement market growth.
For instance, as per recent news reports, around Rs 21,000 crore is slated to be invested in India in the next 4-5 years for setting up or upgrading cold storages plant, machinery, and technology in a bid to address issues of stockpiling of perishable commodities in the country. Besides, increasing population, changing lifestyles and time constraints for meal preparation in urban families have further led to a surge in demand for ready-to-eat products, thus exhibiting promising growth prospects for the thriving market.
All in all, with a vast expanse of applications including home appliances, medical & pharmaceutical, food & beverage, automotive & transportation, and biotechnology industries, the growth prospects for rotary scroll air compressor market are anticipated to remain high. The key features associated with the product like low sound and vibration, high reliability and efficiency and low cost for maintenance is slated to attract added market growth in the ensuing years. In terms of commercialization, global rotary scroll air compressor market size is estimated to exceed a valuation of USD 5.5 billion by 2024.
Author Name : Mateen Dalal