Portable Oil-Free Air Compressor Market Worth $8.54 Billion By 2022

The portable oil-free air compressor market is expected to reach USD 8.54 billion by 2022, according to a new study by Grand View Research, Inc. Emergence of next-generation compressed air systems, which offer enhanced reliability and energy-efficiency is expected to drive demand over the forecast period.

Growing demand for oil-free air in purity critical applications and focus on complying with environmental regulations is estimated to fuel growth over the forecast period. Companies introducing smart compressor solutions are projected to offer lucrative opportunities for industry growth. Factors such as lower installation and maintenance cost are expected to positively impact demand.

Increasing end-user demand for enhanced air quality and reliability is projected to stimulate portable oil-free air compressor market demand. However, increasing cost of raw material can act as a challenge for the industry.

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Further key findings from the report suggest:

Rotary air compressor market accounted for over 45% of the overall revenue in 2014. They have increasingly gained popularity and are widely used in various industries. They are most generally used in sizes from about 30 hp to 200 hp. Additionally, these compressor have low initial cost and weight, compact size, and are easy to maintain.
Manufacturing segment is estimated to exhibit substantial growth, at a CAGR of over 3.0% from 2015 to 2022. These products are critical across the manufacturing sector as they eliminate contamination in painting and surface preparation process, helping to ensure high-quality assembly. They avoid production stoppages and replacements caused due to sludge and oil hampering the robotic operation, and help manufacturers maintain high paint quality by preventing water-based paints to come in contact with the silicones found in oil.
Europe portable oil-free air compressor market dominated global revenue in 2014, and is expected to grow at a CAGR of over 7% from 2015 to 2022. Increasing investments in Eastern Europe combined with volatile energy pricing and regulations is estimated to offer lucrative opportunities for the industry growth across this region.
Portable oil-free air compressor market share is occupied by companies such as Atlas Copco, Ingersoll Rand, General Electric, Chicago Pneumatic, and Bauer Group. Large manufacturing companies use these products to supply large amount of moderate-pressure air to pneumatic tools.

Oil Free Air Compressors Market Size Worth $15.56 Billion By 2025

The global oil free air compressors market size is expected to reach USD 15.56 billion by 2025, registering a CAGR of 4.8% over the forecast period, according to a study conducted by Grand View Research, Inc. Low maintenance costs, retrofitting of existing systems, efficient operation at lower costs, and rising adoption of variable-speed compressors are some of the key factors driving the market over the forecast period. The products find application in several industries, such as petroleum, electrical power, chemical, and manufacturing. A gradual shift from the traditional manufacturing techniques to economical methods is a major trend in these industries, which helps boost demand for such compressors for optimal energy distribution purposes.

For instance, the government of China has announced strict regulations for environment fortification, which have ultimately increased the demand for energy-efficient products in the country. Oil-free products provide reliability and ease of operation owing to enhanced product performance. Therefore, they are widely used in the construction and mining activities. High transport mobility offered by these products is also projected to spur their demand across several end-use industries, such as oil & gas. Furthermore, involvement of less degradable parts coupled with low maintenance costs will fuel the global demand over the forecast period.

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The portable compressors captured the major market share in 2018 and will maintain the dominance in future on account of their high durability and light weight
Centrifugal products are expected to witness a rapid growth over the forecast period due to their ability to reduce carbon footprint by ensuring clean and uninterrupted air supply
Increasing adoption of compressors with a 2 to 55 kW power rating in the end-use industries is a key factor that positively affecting the growth of the segment over the forecast period
Manufacturing segment held more than 30% of the global share in 2018. However, the home appliances segment is anticipated to register the highest CAGR owing to higher product demand
Asia Pacific is expected to emerge as the largest and fastest-growing segment over the forecast period due to rising need to increase the power generation capacities
Key companies in the global oil free air compressors market include Gardner Denver, Atlas Copco, Ingersoll-Rand PLC, General Electric, and Bauer Group. Most of them are focusing on developing low-maintenance and eco-friendly products to maintain their industry position

Big Data Market Size Worth $123.2 Billion By 2025

The global big data market size is expected to reach USD 123.2 billion by 2025, according to a new report by Grand View Research, Inc. The amount of data flowing across organizations has witnessed enormous growth over the last few years and the trend continues. Evolving consumer demands coupled with contracting budgets are impacted by the proliferating data, which puts considerable pressure on organizations to make the right decision in order to seize a competitive advantage.

Big data solutions enable organizations to effectively manage large data volumes thereby reducing cost. Additionally, these solutions also facilitate companies to overcome frauds, streamline critical business processes, and reduce errors. Further, the growing need to manage and monitor the heterogeneous nature of the data generated from web clicks to satellite data is also anticipated to significantly propel the industry growth over the next few years.

Increased adoption of cloud computing has generated a large amount of data on account of rapid technological advancements and increased connectivity, owing to smartphone proliferation. Thus, the big data market is estimated to witness a high demand in order to keep pace with this data explosion. However, lack of skilled manpower including data analysts and data scientists that are required to leverage big data capabilities is expected to hamper the demand. There exists a huge requirement for professionals who are capable of exploiting big data analytics in order to make valuable decisions.

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Further Key Findings from the Report Suggest:

The network equipment segment is expected to witness a healthy growth at a CAGR exceeding 20% over the forecast period, owing to the reinforcement of new network infrastructures in order to offer enhanced security.
The visualization segment emerged as the fastest growing software segment over the forecast period, which is ascribed to the elevating demand for visuals to represent the analyzed data and convey exact interpretation to consumers.
Media & entertainment and gaming captured a sizeable share exceeding 5% of the overall revenue, which is attributed to the growing number of companies seeking to escalate the value of their assets by integrating creativity with technological breakthroughs.
North America accounted for a sizeable revenue share exceeding 30% in 2015, which is attributed to the high penetration, primarily, across the IT & telecommunication, BFSI, and retail sectors.
Notable industry players, such as IBM, HP, Cloudera, and Oracle, are gradually investing in R&D, for developing unified big data solutions that offer increased capabilities. These players rely on developing innovation-led solutions to increase productivity and reduce cost in an attempt to attract new customers.

Personal Care Contract Manufacturing Market Worth $29.2 Billion By 2027

The global personal care contract manufacturing market size is expected to reach USD 29.2 billion by 2027, registering a CAGR of 6.1% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand for organic products due to increased awareness of harmful effects of chemical-based products is likely to boost the market growth.

Increasing disposable income coupled with rising consumer awareness on personal hygiene, is expected to drive the market. Furthermore, increasing demand for natural and organic products on account of rising concerns regarding the long-term impact of chemicals on human health is expected to augment the product demand over the projected period.

The skincare products are manufactured for several skin conditions and skin types owing to which, manufacturers tend to provide a wider product portfolio based on consumer’s personal preference. Thus, increasing demand for skincare products, especially from the millennials, is likely to drive the market.

Major players in the market are continuously investing in R&D projects to enhance the formulation capabilities to gain a competitive edge over other players. Widespread distribution channels benefit these significant players in catering to the global market and provide optimum quality services to its customers.

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Further key findings from the report suggest:

The demand for fragrances and deodorants in the manufacturing service segment is estimated to reach USD 3.6 billion by 2027, owing to increasing demand for premium products and rising consumer preference for spray-on antiperspirants
The packaging service segment accounted for 8.4% of the global revenue in 2019, on account of its ability to increase aesthetic value of the product, thereby influencing customer’s purchasing decision significantly
Germany is estimated to register a CAGR of 6.0% in terms of revenue from 2020 to 2027, on account of increasing demand for products such as lip-gloss and nail paints
Asia Pacific is expected to reach USD 8.7 billion by 2027, owing to the presence of low-price high-quality packaging coupled with logistics, distribution, and sales provided by contract manufacturers
Market players focusing on regional expansion and contracts in the high demand countries of Asia Pacific and North America to obtain a competitive edge over its competitors
Some of the key players in the personal care contract manufacturing market are McBride PLC; Albea Beauty Holdings S.A.; Colep Portugal, S.A.; Vi-Jon, Inc.; and Formula Corp.

Industrial Gases Market Worth $134.3 Billion By 2027

The global industrial gases market size is expected to reach USD 134.3 billion by 2027, registering revenue based CAGR of 5.5% over the forecast period, according to a new report by Grand View Research, Inc. The market is expected to witness substantial growth owing to increasing demand for industrial gases in manufacturing and healthcare sector. Moreover, increasing application of carbon dioxide in the Enhanced Oil Recovery (EOR) technology, food and beverages, and medical industry is anticipated to be the major driving force for the growing demand for industrial carbon dioxide.

Hydrogen can be used to power fuel cells that efficiently convert hydrogen to electricity. The utility gamut of fuel cells is immense and thus, has the potential to replace the traditional forms of power generators such as large batteries in buses, cars, submarines, forklift trucks, power plants, and combustion engines.

The healthcare application segment is predicted to have the highest growth and is expected to attain a CAGR of 7.0% in terms of revenue, over the forecast period. This is a highly versatile segment and its utilities range from pharmaceutical products to supplies and from medical equipment and healthcare services to medical therapies. The segment also includes preservation of tissue and blood using oxygen, MRIs using helium, and respiratory therapy using oxygen to help patients breathe.

Bulk (Liquid Gas Transport) distribution mode of delivery is ideally opted as a mode of distribution when the demand for gases if higher than packaged gas distribution and lesser than onsite distribution. This is a more efficient form of distribution and is therefore preferred over other modes of distribution since it ensures continuous supply of gases.

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Further key findings from the report suggest:

China is the largest market across the globe while India is projected to be the fastest growing market at revenue based CAGR of 7.6% during the forecast period, owing to significant growth of food and beverage, pharmaceutical, and manufacturing sector in Asia Pacific
Nitrogen is projected to expand at the highest CAGR during the forecast period owing to its applications in medical and pharmaceutical industry, in extraction of air from mines , and in blast furnaces and other furnace applications
The healthcare segment emerged as the fastest growing application segment and accounted for approximately 18% of the total revenue share in 2019 owing to its high demand for industrial gases such as nitrogen and oxygen in the medical and pharmaceuticals industry
The on-site distribution segment in Japan is the fastest growing segment and is projected to attain revenue based CAGR of 6.9%
Bulk mode of delivery is ideally opted as the mode of distribution when the demand for gases is higher than packaged gas distribution and lesser than onsite distribution
Major companies actively operating in the industry include Air Products & Chemicals Inc.; The Linde Group; Air Liquide; Air Products; and Messer Group.

Electrostatic Precipitator Market Size Worth $14.97 Billion by 2025

The global electrostatic precipitator market size is projected to be valued at USD 14.97 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 3.3% over the forecast period. Rising consumer awareness, inclination towards healthy lifestyle, and rise in air pollution are expected to drive the market growth.

Rising adoption of air pollution control equipment, coupled with stringent government regulations, is expected to boost the global electrostatic precipitator market by 2025. Industrialization of energy and manufacturing industries is predicted to further enhance business growth over the forecast period.

Increasing investments and technological advancements are expected to encourage expansion of the market for electrostatic precipitator in the forthcoming years. Critical air pollution level caused by vehicles and industries coupled with high demand for pollution controlling equipment in developing countries such as India and China are anticipated to spur market growth over the forecast period.

The power generation segment is expected to expand at a CAGR of 4.2% over the forecast period. High dependency on electricity in automotive backed up with industrial automation is expected to boosts demand for power generation application in near future. Power generation industry has witnessed drastic change in processes as majority of the industrial players opted for renewable energy sources such as wind, natural gas, solar etc.

In terms of technology, the dry type electrostatic precipitator was valued at USD 9.66 billion in 2017 and is predicted to witness robust growth over the forecast period. High adoption coupled with government policies and regulations is projected to encourage market growth over the forecast period.

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Further key findings from the report suggest:

The U.S. electrostatic precipitator market revenue is projected to expand at a 2.2% CAGR over the forecast period owing to stringent governmental policies along with rise in demand for air pollution control equipment
U.K., in terms of revenue, is projected to register a 1.8% CAGR over the forecast period
Growth in the India market can be attributed to rapid pace of industrialization, rising air pollution levels, and evolving regulatory framework.

Shared Services Centers Market To Be Established By 2022

Over 75,000 shared services centers market are expected to be established globally by 2022, growing at a CAGR of close to 30% from 2015 to 2022, according to a new report by Grand View Research, Inc.

A shared services center (SSC) is a devoted unit that focuses on defined business functions and is structured as a centralized delivery location and point of service. The unit is responsible for specific functions, such as security, purchasing, compliance, legal, IT, payroll, HR, and accounting.

The growth prospects for this market are bullish due to increased needs for reducing costs and improving the quality of delivered services. Resourceful implementation of SSC in operational stages yields greater operational efficiency and cost reduction, while enhancing productivity. Deployment of SSC framework helps companies to focus on enhancing operations.

Availability of skilled low cost labor, tax relaxation and favorable government initiatives in select geographies such as India, China, Latin America, and some parts of Eastern Europe are envisioned to drive industry growth.

However, the complexity associated with the implementation of such a framework is presumed to challenge industry growth, as it involves the assigned tasks to be performed and shared dynamically across the various business units involved. To achieve cost reduction, organizations operate in a low cost location. However, doing so without the standardization of procedures is expected to increase the organization’s inefficiency and is expected to hinder SSC establishments.

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Further key findings from the report suggest:

Poised to witness considerable growth over the next seven years, pharmaceutical & clinical end-use accounted for 11% of the overall market share in 2014. Rapid increase in the need to reinvent traditional pharmaceutical R&D model to continue developing new products cost-effectively and efficiently, and adjust to the industry’s new realities is expected bolster demand over the forecast period.
Projected to grow at an estimated CAGR of 35% from 2015 to 2022, legal end-use is expected to drive the SSC industry over the forecast period. Over the last few years, emergence of new technologies coupled with the need to reduce costs in the wake of global downturn has significantly forced corporate legal departments and law firms to change their traditional business approach and to adopt shared services and outsourcing associated with the legal profession.
BFSI end-use accounted for over 20% of the overall revenue in 2014, and is presumed to witness significant growth in the market share over the forecast period, owing to the emerging trend among companies to enhance global presence and customer satisfaction. Availability of huge and highly educated workforce, lower wages, and improved English capabilities in countries across Asia Pacific and Eastern Europe are envisioned to boost industry growth.
Projected to grow at an estimated CAGR of over 25% from 2015 to 2022, manufacturing end-use is expected to witness healthy growth in the foreseeable future. Organizations consider Asia Pacific as the most attractive market for off-shoring destination owing to the lower wages, higher employment rates, availability of pool of talents, and skilled and educated employees in the region, which are expected to drive industry growth.
The Asia Pacific regional market is poised for high growth throughout the forecast period. It accounted for close to 30% of the overall market share in 2014. Close-knit cultural homogeneity coupled with low-cost arbitrage has made the Asia Pacific region a preferred destination for SSC establishment.
The presence of a large number of universities, eventually enabling access to skilled labor force, multi-lingual skills in professionals coupled with cultural similarity to Western Europe is presumed to have driven growth in the European region.

Third Party Logistics Market Worth $1.2 Trillion By 2025

The global third party logistics market size is expected to reach USD 1.2 trillion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 7.5% over the forecast period. Logistics plays a vital role in most of businesses; a reliable and robust logistics service is a primary requirement for the development of any business. A strong logistical infrastructure handled by 3PL providers helps the outsourcer focus on its core business. Globalization has enabled companies to set up a global business network that necessitates complex transportation services. This, in turn, is expected to drive demand for outsourced logistics services over the coming years.

Technology has been transforming 3PL services and demand within the supply chain for digitalization, automation, and data collection capabilities has been increasing. Thus, 3PL providers are laying greater emphasis on technologically-driven services by investing in IT solutions, blockchain solutions, cloud-based solutions, mobile technologies, and proprietary innovations to adopt a leading-edge approach.

E-commerce has transformed the traditional retail sector where logistics plays an important role. In some instances when a product is returned, the company needs to manage the reverse logistics process; 3PL providers are leveraging this opportunity by providing flexible and specialized services. These advanced services can allow end users or the shipper to track the movement of goods or products.

There is intense competition among 3PL providers. New competitors are entering the 3PL market with customized and industry-specific services. To remain competitive in the market, leading companies are strategically involved in collaborations with and acquisitions of small- and mid-sized companies.

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Further key findings from the report suggest:

The value-added services segment is expected to exhibit the highest CAGR over the forecast period, owing to demand for agile supply chain networks across multiple industries
Need for complex logistics and warehouse operations is boosting demand for 3PL solutions in the retail sector
Globalization and sustainable economic growth in several countries are driving international trade, thereby driving the airways segment to witness high growth over the forecast period
Asia Pacific is anticipated to register a CAGR of over 8.5% over the forecast period, which can be attributed to the fact that the region leads the global 3PL market in terms of B2C e-commerce sales
FedEx; DHL International GmbH; C.H. Robinson Worldwide Inc.; KUEHNE + NAGEL; and UPS, Inc. are some of the prominent 3PL providers in the market.

About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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