According to Global Market Insights, Inc the world air compressor market is set to exceed 40 billion USD by 2024. Strong industrial development in the Asia Pacific region especially will experience strong growth in air compressor demand.
The desire for greater energy efficiency is fueling demand for improved performance and lighter, quieter machines. Oil free air compressor market will also see rapid growth with the desire for better food security and remove the possible oil contamination risk caused by oil filled machines, especially in North America owing to strict food regulations. Same applies to the healthcare industry for respiratory support systems and air ventilators.
Despite compressed air being relatively costly in energy use, the many advantages of compressed air continue to drive growth – end use for the compressed air such as air tools are lighter, easier to use, and more durable so they last longer offsetting energy costs; compressed air systems are relatively simple in design and its energy can be stored making it very attractive especially for intermittent applications; compressed air does not catch fire and is relatively safe; it is a fast reacting work medium and easy to control; and compressed air used in blow off is more powerful, compact and can often improve production output with minimal maintenance.
Many innovations in compressed air technology have been occurring behind the scenes and coming out such as different compressing systems being studied for improved energy efficiency and heat recovery systems; new types of filters like the Expel with minimal maintenance, and more energy efficient air nozzles such as those developed and more being developed by Nex Flow Air Products Corp.
Compressed air will be around for a long time to come.