Industries such as the healthcare sector are looking to new oil-free air compressors for efficient and clean compressed air supplies, according to a newly published report from market analysts Hexa Research.
The market research specialists have published their latest estimate of the total global air compressor market size by the year 2024, and are predicting a steady period of growth between now and then.
A headline compound annual growth rate of 4.5% has been forecasted, taking the market size to a global value of more than $40 billion over the next eight years.
The petrochemical sector remains a leading source of demand for air compressors, with shale gas or ‘fracking’ among the major growth markets for the immediate future, but there are specific needs from other industries too.
For example, the report notes the need for ‘pure air’ to be delivered to hospitals and other healthcare facilities, with strict regulations on this clean air meaning established brands are best positioned to provide the air compressors needed to generate it.
Oil-free air compressors are providing a clean alternative to traditional oil lubricated compressors, and the analysis adds that increased efficiency in newly released air compressors helps to reduce noise levels during operation and avoid air contamination too.
Meanwhile, rotary screw air compressors are also finding specific applications, for example in heat pump and air conditioning systems, thanks to their beneficial design for such purposes – a further sign of how air compressor manufacturers are providing systems ideally suited for even fairly niche uses.
Rotary screw air compressors offer consistent output rather than a ‘pulsed’ supply of compressed air, for smooth operation and high total output even in relatively confined spaces.
“Demand from the HVAC industry is playing a vital role in the growth of the rotary air compressor market as they are a key component of heat pump and air conditioning systems,” Hexa Research said.