South Korea Oil Free Air Compressor Market Size & Outlook
South Korea oil free air compressor market, 2018-2030 (US$M)
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South Korea oil free air compressor market highlights
- The South Korea oil free air compressor market generated a revenue of USD 260.5 million in 2023 and is expected to reach USD 404.4 million by 2030.
- The South Korea market is expected to grow at a CAGR of 6.5% from 2024 to 2030.
- In terms of segment, stationary was the largest revenue generating product in 2023.
- Portable is the most lucrative product segment registering the fastest growth during the forecast period.
Oil free air compressor market data book summary
| Market revenue in 2023 | USD 260.5 million |
| Market revenue in 2030 | USD 404.4 million |
| Growth rate | 6.5% (CAGR from 2023 to 2030) |
| Largest segment | Stationary |
| Fastest growing segment | Portable |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Portable, Stationary |
| Key market players worldwide | Atlas Copco AB Class A, Hanwha, Ingersoll Rand Inc, Kaeser Kompressoren, Doosan Fuel Cell Ordinary Shares, Hitachi Ltd, Anest Iwata |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.1% of the global oil free air compressor market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China oil free air compressor market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 3,029.4 million by 2030.
Stationary was the largest segment with a revenue share of 76.05% in 2023. Horizon Databook has segmented the South Korea oil free air compressor market based on portable, stationary covering the revenue growth of each sub-segment from 2018 to 2030.
In South Korea, a shift towards digitalization and smart technologies is expected to drive the demand for oil free air compressors. Compressors equipped with advanced control systems, remote monitoring, and predictive maintenance capabilities are gaining prominence as they help optimize performance, improve reliability, and reduce downtime in the production process.
Increasing demand from key industries: Industries such as automotive, electronics, food and beverage, and pharmaceuticals, which require clean and oil free compressed air, are driving the demand for oil free air compressors in South Korea.
Compressors with advanced energy-saving technologies such as variable speed drives (VSD), which adjust the compressor's speed according to the demand, are gaining traction as they offer better energy efficiency and help reduce operating costs.
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Oil Free Air Compressor Market Scope
Oil Free Air Compressor Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea oil free air compressor market size, by product, 2018-2030 (US$M)
South Korea Oil Free Air Compressor Market Outlook Share, 2023 & 2030 (US$M)
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