Asia-Pacific (APAC) Compressor Market (2013-2023)
Asia-Pacific (APAC) Compressor Market (2013-2023)
NEW YORK, Jan. 20, 2020 /PRNewswire/ -- By 2023, the APAC compressor market is projected to advance to $23.3 billionaccording to the report. The market has been experiencing notable growth, primarily because of the expanding automotive industry, predominantly passenger vehicles, along with the increase in demand for electric vehicles.
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On the basis of type, the APAC compressor market is divided into dynamic and positive displacement compressors. Among these, the positive displacement compressor category held the larger revenue share in 2017, and is also projected to dominate the domain during the forecast period. The reason for the progress of this segment is the demand for rotary compressors. Furthermore, positive displacement compressors are used in different application areas, including HVAC-R, industrial manufacturing, power, automotive, food and beverage, and construction.
Now, on the basis of dynamic compressors, the APAC compressor market is categorized into axial flow and centrifugal compressors. Out of these, the centrifugal compressor category held the larger market share in 2017. Centrifugal compressors serve the purpose of compressing gases, due to which these are heavily used in the oil and gas industry. The oil and gas industry in APAC is predicted to offer tempting opportunities to centrifugal compressor manufacturers, owing to government policies. For instance, China is predicted to be the largest contributor to the centrifugal compressor market, driven by its coal-to-gas switch policy, which seeks to lower the usage of coal.
Increasing disposable income in developing countries, such as India and China, apart from advancements in technology is one of the key factors driving the growth of the automotive industry in APAC. For instance, from 2012 to 2017, the sales of all kinds of vehicles grew by almost 50.0% in China, whereas in India, the growth witnessed was around 24.0%. Thus, the prosperity of the automobile sector is aiding the growth of the APAC compressor market.
Specifically taking about India, the compressor market is estimated to witness rapid advance both in terms of sales volume and revenue generation, during the forecast period, majorly due to the growth of the construction industry and small businesses. India's construction industry is anticipated to generate around $1trillion by 2025; therefore, it would lead to a huge demand for compressors. Further, India manufactured over 4 million vehicles in 2017, and this number is anticipated to grow at a high rate during the analysis period. Hence, the growing automotive and construction industries and SMEs, are expected to drive the APAC compressors market.
In recent times, the main focus of industries has been to develop higher-capacity and energy-saving compressors. Key players, including Elgi Equipments Limited, RECHI Precision Co. Ltd, Ingersoll-Rand plc, Kaeser Kompressoren SE, Kobe Steel Ltd, Atlas Copco AB, Hitachi Ltd, ANESI IWATA Corporation, MAHLE GmbH, Zhe Jiang Hongwuhuan Machinery Co. Ltd, Toyota Industries Corporation, and Hanon Systems, are working tirelessly toward achieving this.
APAC Compressor Market Segmentation
Market Segmentation by Type
- Positive Displacement
- Reciprocating
• In-line
• "V" shaped
• Tandem piston
• Single-acting
• Double-acting
• Diaphragm
- Rotary
• Screw
• Vane
• Lobe and scroll
- Dynamic
- Centrifugal
- Axial flow
Market Segmentation by Lubrication Type
- Oil-free
- Oil-flooded
Market Segmentation by Portability
- Portable
- Stationary
Market Segmentation by Pressure
- Ultra-low-pressure
- Low-pressure
- Medium-pressure
- High-pressure
- Hyper-pressure
Market Segmentation by Application
- Construction
- Power
- Industrial Manufacturing
- Heating, Ventilation, Air Conditioning, and Refrigeration (HVAC-R)
- Chemical and Cement
- Automotive
- Oil and Gas
- Food and Beverages
- Textile
- Others (includes Healthcare, Research, and Agriculture)
Market Segmentation by Country
- China Compressor Market
- By type
- By lubrication type
- By portability
- By pressure
- By application
- India Compressor Market
- By type
- By lubrication type
- By portability
- By pressure
- By application
- Japan Compressor Market
- By type
- By lubrication type
- By portability
- By pressure
- By application
- South Korea Compressor Market
- By type
- By lubrication type
- By portability
- By pressure
- By application
- Rest of APAC Compressor Market
- By type
- By lubrication type
- By portability
- By pressure
- By application
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