The primary hindrance in the growth path of Oil Filled Air Compressor Market is the high purchasing cost and maintenance associated with it
Sellbyville, DE -- (SBWIRE) -- 10/11/2018 -- Portable oil filled air compressor are used for spray painting, pneumatic staplers, cleaning equipment, etc. The increasing construction activities in North America and Europe will boost the product market in coming years.
The primary hindrance in the growth path of Oil Filled Air Compressor Market is the high purchasing cost and maintenance associated with it. This has increased the rental services facility which allow the manufacturers to switch to different technology and different air compressors according to the need.
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Moreover, during production oil lubricated air compressor are used to power equipment, in paint spraying tools, tools in production lines to name a few. Rising automotive production in Asia Pacific countries including China, India, Korea, Japan, etc. will drive the product market for manufacturing segment. A mature North American automotive market will also augment the oil lubricated air compressor demand in coming years.
Increasing oil & gas exploration and production in the U.S. after the discovery of huge shell oil reserves will contribute to the application segments market growth. Oil lubricated air compressors are designed to provide a steady flow of compressed air for longer periods of time and can take fluctuating surges. They are built with high-quality components that allow for customization to the specific environment to improve performance, energy efficiency and reliability. These air compressors are used to drive pumps, tools, and equipment in oil rigs and refineries. The mature oil & gas industry in the Americas and Middle East will propel the demand for air compressors in coming years.
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Oil Filled Air Compressor Market size will surpass USD 25 billion by 2024. Manufacturing segment deemed to be the profitable quotient for the oil lubricated air compressor market. Manufacturing sector includes metal fabrication, automotive and aerospace production, machinery and equipment manufacturing, and others. In automotive industry, the oil filled air compressor are installed to pressurize air shock for greater lifts, to compress engine air, as well as sometimes in in air conditioners.
On the basis of technology, the market is classified into rotary, reciprocating, and centrifugal. Reciprocating oil filled air compressor find application in small business, household as well as in industrial application. These products produce power less than 30hp, suitable for application such as providing power to pneumatic tools and equipment. The use of these product will increase in future owing to low cost and new technological developments.
Based on value, the manufacturing segment will generate nearly USD 9 billion till 2024. This is due to initiatives taken by the various government to increase the production capacity and GDP of the country. For instance, 'Digital India' and 'Make in India' are some initiatives opted by the Indian government to increase the country's manufacturing activities. This will propel the product market during the forecast spell.
In 2017, Canada share was over 20% of the entire North America market and will increase at substantial rate in upcoming years. Increase growth rate in oil & gas and energy industry promotes the regional oil lubricated air compressor market.
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The key players oil lubricated air compressor includes. Sullair, LLC, Gardner Denver, Inc, Kaeser Kompressoren SE, Rolair Systems, Sullivan-Palatek Inc, Elgi Compressors USA, Inc., Heyner (HEYNER UK LTD), Hitachi Industrial Equipment Systems Co Ltd, Ciasons Industrial, Inc., Quincy Compressor, Oasis Manufacturing, and Aerzen USA Corporation.