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APAC Air Compressor Market Valuation to Mark USD 38 bn by 2026
Published Date: 2020-10-07
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According to the Graphical Research new growth forecast report titled Asia Pacific Air Compressor Market growth will surpass USD 38 billion by 2026. Asia Pacific is expected to exhibit promising gains owing to increasing industrialization and development activities in the emerging economies of the region. China accounted for close to half of the global household refrigerator and freezer production in 2019. The country also leads in the global air conditioner and automobile production by a notable margin. These factors coupled with the electronics industry growth in China, Japan, India, and South Korea will signify the regional air compressor demand throughout the forecast period.
Air compressors find a diverse range of application areas wherever compressed air is required in the ongoing operations. The most significant application area for air compressors is the home appliances segment where small-sized hermetic air compressors are used in refrigerators and air conditioners. These are low-power devices used to cool the surrounding air in these appliances. Increasing refrigerator and air conditioner manufacturing in China will boost the segment growth in Asia Pacific.
Rotary air compressors accounted for around 40% of the overall industry revenue in 2019. These compressors are mostly used in applications that require high capacity compressed air at a continuous rate. The aforementioned applications make the segment expensive due to which it will generate a high revenue compared to its volume. Screw compressors have been replacing piston compressors owing to their continuous operations, and higher capacity. The scroll compressor market will be augmented by its higher energy efficiency when compared to screw compressors. Increasing demand for rotary compressors in industrial applications coupled with rising manufacturing activities in Asia Pacific will contribute to the overall rotary air compressor market growth during the forecast timeframe.
Oil-filled air compressors led the Asia Pacific industry and accounted for 63.1% of the total share in 2019. These compressors are bulky and highly durable due to efficient lubrication. Furthermore, these products can provide high capacity compressed air and are widely used for heavy-duty applications due to its durability and design. Growth in the manufacturing sector will create huge scope for the oil-filled air compressors segment. The product is extensively used in production plants along with the energy and oil & gas sectors. Significant automobile production in emerging economies including China, India, and Japan will further enhance the demand for oil-filled air compressor in manufacturing applications.
The Asia Pacific air compressor market size from home appliances application accounted for 30.5% of the total share in 2019. Increasing demand for technologically advanced refrigerators and air conditioners will catalyze segment growth. Healthcare was one of the prominent application segment and accounted for over 5% share in 2019. Air compressors have wide applications in medical, dental, and other healthcare areas as the products are generally used for supplying oxygen to patients, medical gas booms, vacuum, or air aspirators.
Some of the prominent companies operating in the Asia Pacific air compressor market include Hitachi, Atlas Copco, Aerzen, Emerson, Gardner Denver, GMCC, Ingersoll-Rand, Bitzer, Kaeser, Hubei Teweite Power Technology, Bauer, Quincy, and Zen Air.
The Asia Pacific air compressor market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2026 for the following segments:
Market Share, By Product
Market Size, By Technology
Market Trends, By Lubrication
Market Forecast, By Application
- Home appliances
- Food & beverage
- Oil & gas
- Mining & construction
The above information is provided on a country basis for the following:
- South Korea