Asia Pacific High Speed Blower Market Size was USD 217.4 million in 2019 and the market will grow at 3.3% CAGR up to 2026.
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Rising concerns toward degradation of ground water and growing need for sanitation in countries like India, China, South Korea, etc. have created necessity for the development of wastewater infrastructure activities in Asia Pacific. Major government bodies are taking initiatives to promote the growth of wastewater treatment facilities in the region. Asian Development Bank (ADB) has announced to offer funds for expanding wastewater, which will trigger the market size by 2026.
Another key growth enabling factor is growing chemical production in major parts of the region. Chemical sector in China is experiencing major disruption owing to stringent environmental regulations, industry consolidation and unavailability of finance. This will further provide opportunity to countries including Japan, India, South Korea, Indonesia, etc. to develop their manufacturing base for chemical products by 2026. Japan reported shipments of chemical products reaching at a value of around 44.3 trillion Yen (USD 421.97 Billion) in 2019, which is expected to rise again in future. Such trends are showcasing opportunistic environment for chemical manufacturing sector in Asia Pacific, which is expected to drive industry growth during 2020 to 2026.
Asia Pacific shipbuilding sector will pave way for high speed blower industry development in next decade. China, Japan and South Korea significant share in overall shipbuilding sector and is expected to attract more investment over the period 2016 to 2026. Such trends will further propagate share of Asia Pacific high speed blower market.
COVID-19 pandemic will limit market growth in 2020. Temporary shutdown of production facilities for a short term for chemical and oil & gas is expected to reduce overall market share of turbo blower by 2026. This will further estimated to drive down sales volume of high speed blower by more than 10% in 2020.
Magnetic bearings are expected to hold considerable share of industry from 2020 to 2026. These technology offers key benefits of high cooling at reasonable input cost. These bearings are further equipped with sensors to monitor health condition of machinery as well as to regulate the air flow passing through machines. Manufacturers are currently working on enhancing simulation techniques, product stability and eliminating need for sensors, which will further augment growth rate for high speed blower in Asian countries.
Chemical sector is expected to witness 3.2% CAGR in market over 2020 to 2026. Growing chemical output in various countries coupled with rising product demand in the sector will provide key growth opportunities for product market.
The market is expected to hold significant share of overall market during 2020 to 2026. Rising product penetration in variety of end-user industries is expected to increase Asia Pacific high speed blower industry share by 2026. Additionally, growing production of chemical in major countries along with positive outlook for shipbuilding activities in the region is estimated to propel industry development in 2016 to 2026.
Some of the key players included in industry are Atlas Copco, Xylem, Zi-Argus Ltd, Eminent Blowers, Aerzen Turbo Co., Ltd., Esurging (Tianjin) Technology Co., Ltd and Nanjing Magnetic Valley Technology Co., Ltd.