The air compressors market in Asia Pacific is expected to steadily grow in the coming years. Rising product use in home appliances such as refrigerator and air conditioners is attributed to the higher spending capacity of middle classes in Asia Pacific.
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Additionally, the product use is also expected to increase with rising global temperatures, which in turn will trigger its demand from electronics & appliances industry.
Air compressors market is segmented into stationery and portable types. In 2024, the stationary product type are expected to capture approximately 99% of the total market. This is mainly due to wide ranging applications including automotive, home appliances, and industries. On the basis of technology, the market is bifurcated into rotary, reciprocating and centrifugal. In 2018, the rotary segment attained the highest share which accounted for approximately 75% of the global air compressor market. Further, the screw type of products are also increasingly used owing to their high performance and low costs. Air compressors market on the basis of lubrication is divided into oil filled and oil free.
The application segment of air compressor market includes, food & beverage, home appliances, oil & gas, semiconductors & electronics, energy, healthcare, manufacturing, and others. The home appliance segment is expected to significantly grow and shall capture approximately 70% of the total market by 2024. The increasing demand for air conditioner and refrigerators from the growing middle classes of the Asia Pacific will aid the market growth over the forecast period.
Key participants in the market includes Sullair LLC, Atlas Copco, Kaeser Kompressoren SE, Rolair Systems, Gardner Denver, Inc., Ingersoll-Rand plc, Doosan Group, Elgi Compressors USA, Inc, Sullivan-Palatek, Inc., Hubei Teweite Power Technology Company Limited, Hitachi Industrial Equipment Systems Co Ltd etc.