APAC Reciprocating Air Compressor Market size is predicted to cross USD 14.5 billion by 2027, according to a latest forecast report by Graphical Research. The growing demand for these compressors in CNG & LNG transportation, storage facilities and refineries will propel Asia Pacific reciprocating compressor market growth over the projected time frame.
Rising adoption of household appliances and electronic products across the region will positively influence the industry growth as these are widely used in refrigerators, air conditioners, and healthcare industries. Increasing compressor production facilities in emerging nations such as China, India, Indonesia and Malaysia, will further support the industry development.
The outbreak of COVID-19 has led to shortages of labor and shutdown of various manufacturing facilities across the globe creating negative impacts on Asia Pacific reciprocating compressor industry revenue in 2020. However, the industry is expected to rebound with recent decline in COVID-19 cases and rapid vaccinations in major countries.
The portable segment will generate over USD 3 billion by 2027 as these are robust, durable and stable. Portable air compressors are majorly utilized in dusty environment as these are often used to supply compressed air at road projects, construction sites. They also find application in rigid topography, such as in very high-altitude areas or cold weather which will propel the segment penetration over the forecasted timeframe.
Browse detailed statistical insights from the report, “Asia Pacific Reciprocating Air Compressor Market Forecast 2027 By Technology (Single-acting, Double-acting), By Product (Portable, Stationary), By Lubrication (Oil Free, Oil Filled), By Application (Home Appliances, Food & Beverage, Oil & Gas, Energy, Semiconductor & Electronics, Manufacturing, Healthcare), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The double acting segment will be witness around 4% CAGR during the forecast period. These are utilized in vehicle production and other heavy industrial equipment that require more than 100 psi of air pressure. Proliferating manufacturing activity and increasing automobiles demand from the region will drive the industry growth.
The Asia Pacific reciprocating air compressor market from oil-filled segment will hold over 60% revenue share throughout the study timeframe owing to superior efficiency and trouble-free production process. The continuous air circulation prevents the equipment from overheating that reduces maintenance requirement. The oil aids in lubrication and efficient operation of the motor, minimizes energy consumption and speeds up the manufacturing activities.
The healthcare segment likely to showcase 3% CAGR during the forecast timeline. The need for clean air free of foreign matter is essential for medical operations. The growing health disorders is forcing governments around the region to increase investment in the health sector. For instance, in May 2020, the Government of India announced a relief package of around 10% of GDP to tackle COVID-19.
The APAC reciprocating air compressor market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
Asia Pacific Market, By Product
Asia Pacific Market, By Technology
- Single acting
- Double acting
Asia Pacific Market, By Lubrication
Asia Pacific Market, By Application
- Home appliances
- Food & beverage
- Oil & gas
- Semiconductors & electronics
Asia Pacific Market, By Vehicle
- Passengers Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
The above information has been provided for the following countries:
- Asia Pacific
- South Korea
- Rest of APAC