Coimbatore-based Elgi Equipments is aiming to reach the second position in the global air compressor market by 2027. It is currently the seventh largest player in the global compressor market and the second largest in the domestic arena. To achieve its goal, the company will focus on innovation, improving the efficiency of its compressors, removing pollutants by launching ‘oil-free’ compressors and ensuring an ‘error-free’ customer experience reportedly conveyed Managing Director Jairam Varadaraj. In line with this vision, Elgi has launched “State of the Future Art”, an initiative aimed at identifying and developing advanced technology and nurturing innovation. About 200 employees of Elgi, students and industry representatives took part in the event. Internally, there were 50+ participants giving suggestions and mooting ideas on 16 of the (running) technology development projects. Launch of oil-free compressors in India has proved to be disruptive. While such compressors help remove pollutants (as compressors carry oil), it is pricey — almost thrice as expensive as the conventional model. Elgi has introduced an intermediate range, which is 1.5 times more efficient than the conventional compressor. The company spends close to 2.5 per cent of its revenue on R&D.