The Asia Pacific Air Compressor Market would witness market growth of 4.7% CAGR during the forecast period (2021-2027).
Kinetic energy possessed by the compressed air is utilized by the air compressors to offer the required energy to several tools, equipment, and machineries across various industry verticals. In addition, the constant compression offers help in the transportation of fluids & gases, production of petrochemical associated products, cooling applications, and operation of pneumatically based machineries. Due to this, the air compressors have a wide range of applications in different end-users for dehydration, air blowing, cleaning, vacuum packaging, spray painting, and medical equipment.
The growth of the air compressor market would be fueled by the technological developments in air compression techniques that have a positive impact on the compression capabilities of the device. Additionally, the growth of air compressors would witness lucrative opportunities owing to the increasing adoption of reliable and energy-efficient equipment. Moreover, the device needs the application of advanced technology with technical expertise for developing high power rated and effective air compression equipment.
The Asia-Pacific region is home to an increasing number of end-use industries like oil & gas, food & beverage, and manufacturing. These industries witness high demand for air compressor; hence, the growth & demand of the product is expected to be high in the regional market. Moreover, the regional market would witness lucrative growth opportunities due to the increasing industrial activities in various nations like India, Japan, and China.
Currently, the region is witnessing rapid industrialization in various industries. Figures from World Bank revealed that manufacturing and industrial activities contribute above 40% in the GDP of the region. In addition, the regional market is expected to fuel due to the thriving refining & gas market in the nations like India and China. Additionally, heavy investment in the gas pipeline industry would help the regional market to grow further.
The China market dominated the Asia Pacific Oil-Free Air Compressor Market by Country 2020, thereby, achieving a market value of $1,551 million by 2027. The Japan market is exhibiting a CAGR of 5.6% during (2021 - 2027). Additionally, The India market is anticipated to witness a CAGR of 6.7% during (2021 - 2027).
Based on Product, the market is segmented into Rotary/Screw, Centrifugal and Reciprocating/Piston. Based on Type, the market is segmented into Stationary and Portable. Based on Lubrication, the market is segmented into Oil-Filled and Oil-Free. Based on Application, the market is segmented into Manufacturing, Retail, Food & Beverage, Healthcare, Oil & Gas, Energy and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Air Compressor Market is Projected to reach USD 41.8 Billion by 2027, at a CAGR of 4.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Atlas Copco, Bauer Group (BAUER COMP Holding GmbH), Cook Compression (Dover Precision Components), Compressor Products International (CPI) (EnPro Industries, Inc.), Galaxy Auto Stationary Equipment Co. Ltd., Gast Manufacturing, Inc. (IDEX Corporation), General Electric Company, Ingersoll Rand Plc, Kaeser Kompressoren SE, and MAT Industries, LLC (MAT Holdings, Inc.).
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By Lubrication
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