Asia Pacific portable air compressor market will be driven by rapid development in food & beverage sector in the region. In 2016, the region accounted for over 30% of the global consumer spending on eating out.
China Portable Air Compressor Market Size, By Application, 2013 – 2024 (USD Billion)
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During the same period, China and India were named as the second and third largest food & beverage markets respectively. Food and beverage industry in Asia Pacific region has witnessed an average annual growth of over 9% between 2006 and 2016. It can be attributed to increasing population, development in per capita income, popularity of eating out among young populace, rising urbanization, etc. Favorable government norms has also elevated the growth rate of regional food & beverage industry. For instance, liberalization of FDI (foreign direct investment) in food & beverage sector in India has helped the country’s food processing sector to secure an investment of over USD 7.5 billion between 2000 and 2017. These trends will propel the regional demand for portable air compressors during the forecast timeframe, as it is widely used for food fillings, packaging, air knives, mixing food, etc. On the other hand, the product demand might be negatively influenced by the high maintenance & initial setup cost associated with portable air compressors.
On the basis of technology, market is classified into reciprocating and rotary. Reciprocating category is likely to have a growth rate of over 3.5% during the study period. Based on lubrication, the market is classified into oil-filled and oil-free. Oil-free category is likely to have significant growth rate during the study period owing to the rising demand for high-quality air in electronics, food & beverage and healthcare industries. Based on application, Asia Pacific portable air compressor market is classified into oil & gas, home appliances, healthcare, electronics & semiconductor, food & beverage, municipal, manufacturing, mining & construction, energy, and others. Food & beverage application category is likely to have a growth rate of over 4.5% during the study period.
Some of the major players in the Asia Pacific portable air compressor market are Rolair Systems, Ingersoll-Rand, Quincy, Kaeser Kompressoren, Ciasons Industrial, Gardner Denver, Sullair and Atlas Copco.