According to the Graphical Research new growth forecast report titled “Asia Pacific High Speed Blower Market Size By Technology (Airfoil Bearings, Magnetic Bearings), By End-user Industry (Wastewater Treatment, Chemical, Oil & Gas, Chemical, Marine), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026”, to Witness Vast Growth by 2026.
The Asia Pacific high speed blower market value will be growing at a substantial rate in the forecast time period. Increasing penetration of shipyards in the Asian countries will be driving share of high speed blower in forecast time period. Major companies are planning to expand their shipyard capacities in Asia Pacific, which will further drive product demand in coming years. In 2016, Otto Marine Shipyard Pte Ltd entered into Memorandum Of Understanding (MOU) with a port operator in Singapore to expand fabrication and marine facility. Similarly, Daewoo Shipbuilding & Marine Engineering, Hyundai Heavy Industries & Samsung Heavy Industries have entered into joint agreement with Qatar Petroleum to expand its LNG ship construction capacity by 2027.
Although high speed blower are getting substantial attention from end-user industries, liberal policies against wastewater treatment in emerging countries of Asia Pacific will reduce growth rate of industry by 2026. According to World Health Organization, majority of ASEAN economies have limited access to sanitation till 2017. Countries like Philippines, Indonesia, Malaysia, etc. have reported 10% to 20% of the population inaccessible to shared services of sanitation. These factors are mainly responsible behind limited growth of market in these countries.
Airfoil bearings will be expanding at over 3% CAGR in the forecast timeframe. Blowers having airfoil attachments are extensively recommended for the facilities requiring continuous aeration for a longer period of time. Major end-user of such technology are waste water treatment and chemical plants as they need ventilation support for constant time.
Wastewater treatment segment accounted for more than 30% volume share in Asia Pacific high speed blower market. Southeast Asia will report an increase in investment for sewage treatment reaching to a value of USD 3.9 billion in 2020, around 10% higher than previous year. Rising population & living standard has become major issue for countries like China, Indonesia, India, Japan, etc. due to availability of limited freshwater resources. Additionally, government efforts to create infrastructure for treating waste in the region will propel growth of wastewater treatment facilities, which is estimated to drive Asia Pacific high speed blower market.
China will witness significant growth over the forecast timeframe and exceed USD 80 million by 2026. This can be attributed to growing awareness related to water pollution in the country. Apart from this, growing number of shipbuilding activities in key countries together with increasing production of chemical products will stimulate industry development by 2026.
Asia Pacific High Speed Blower Market comprises of variety of manufacturers such as, Xylem, Atlas Copco, Eminent Blowers, Zi-Argus, Aerzen Turbo, Nanjing Magnetic Valley Technology, Esurging (Tianjin) Technology and many more.