Sellbyville, DE -- (SBWIRE) -- 12/10/2018 -- Reciprocating, rotary, and centrifugal are the three major segments in which the portable air compressor market has been segmented. The rotary segment is further bifurcated into scroll, screw, root blower, vane, etc.

Oil flooded and oil free are the two major segments by lubrication for the portable air compressor market. Owing to huge industrial and heavy-duty activities in the oil & gas, mining, quarrying, and construction works, oil injected air compressor market is said to hold larger volume share. The segment will be valued over USD 6.5 billion by 2024 by exhibiting a decent growth in the forecast period.

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Taking into account the growing applicability of these products, esteemed compressor manufacturers have been working to launch a range of novel air compressors in the market. Concentrating particularly on the compression capacity, light weight, compact size, and cost-effectiveness, companies have been striving to develop innovative versions of portable air compressors. The surging demand for these advanced products for construction equipment and machinery is thus slated to augment portable air compressor industry trends in the ensuing years.

Myriad firms across the electronics, pharmaceuticals, and food & beverages sectors, for a while now, have been on the look-out for sensitive compressed air for oil-free compressors. In accordance, portable air compressor market giants are increasingly focusing on the development of products for dedicated oil-free plant air & back-up oil free air. Recently, one of the leading players in the industry, Sullair launched an oil-free air compressor incorporated with the latest emission technology. This newly developed product has been coated with FDA approved food-grade PTFE and is specially designed for oil-free operations. The PTFE coating helps to extend the air end life and enhances the corrosion resistant capability of the compressor as well. Quite overtly, owing to their maintenance free and lightweight nature, oil-free compressors are becoming highly popular across numerous end-use domains. Driven by their highly impressive features and their subsequent demand, oil-free portable air compressor market size is expected to record a CAGR of 4% over 2018-2024.

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Portable Air Compressor Market size will surpass USD 9 billion by 2024. Portable air compressor market is driven by its superior and handy features such as compact design, extreme portability and light weight. These portable machines are hand-carried, wheel or utility mounted and stand available in various characteristics such as single stages, multi stages, oil-injected, etc. Rising use of these machines in the mining and oil & gas sectors will drive the portable air compressor market, especially in the Asia Pacific region.

Healthcare, manufacturing, semiconductors & electronics, mining & quarrying, oil & gas, food & beverages, and building & construction are some of the end-user industries where portable air compressors find applications. Growing healthcare needs round the world coupled with use of extreme portable air compressors will boost the industry in the future years. Considering volume, the segment is said to hold close to 20% market share by 2024.

Huge manufacturing activities in the Asia Pacific region led by China, and Latin America, led by Mexico will boost the portable air compressor market in the next six years. China manufacturing application is said to surpass USD 1.3 billion by the end of 2024 with a CAGR of around 3.5%. Mexico portable air compressor market will surpass USD 350 million by the end of the 2024.

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Portable air compressor market is fragmented and has a number of players present in it. Some of the companies include Gardner Denver, Vanair Manufacturing, Mat Holdings, Elgi Compressors, Quincy Compressor, Doosan Portable Power, Atlas Copco, Belaire Compressors Hubei Teweite Power Technology Company, Sullivan-Palatek, Ciasons Industrial, Kaeser Kompressoren, Ingersoll-Rand, Rolair Systems, and Sullair to name a few.