The global market for air compressors is predicted to near $30 billion by the end of the decade, with rotary air compressors dominating sales, according to a newly published research report.
Rotary air compressors account for nearly half of the worldwide market, at 48.8% – larger than the two other main compressor types, centrifugal and reciprocating.
The report from Allied Market Research expects this dominance to continue throughout the remainder of the decade, and as the total sales figures grow in the coming four years.
“Low maintenance cost, better energy efficiency, easy portability, and eco-friendly operations are some of the key factors driving the growth of the global air compressor market,” the study states.
“On the basis of lubrication type, the air compressor market is segmented into oil-free and oiled compressors. Oiled air compressors were the highest revenue-generating segment in 2014 and would continue to lead the market throughout the analysis period.”
The report explains that oiled air compressors have broad applications in heavy industries like mining and petroleum, as well as in the chemicals and automotive sectors.
Meanwhile, oil-free compressors have more niche uses in specific industries such as healthcare and dental, where there may be a need to guarantee that the compressed air is 100% clean and free from any microdroplets of oil.
Interestingly, the market between stationary and portable air compressors is fairly evenly split, with stationary compressors edging the larger share at 59% of the total.
This is based on sales by revenue rather than volume – and as portable air compressors are often smaller, the actual split may be much more even if the effect of large stationary air compressor installations is accounted for.
Overall, the industry is predicted to see growth of 7.3% on a compound annual basis from 2015 through until the end of the decade in 2020, taking it to the forecasted $29.9 billion global value at the end of the decade.