What are the Growth Drivers in China Compressor Market? | Key Players : Hanon Systems, MAHLE, Atlas Copco, KAESER KOMPRESSOREN, Ingersoll Rand, Hitachi

China compressor market is expected to reach $15.7 billion by 2024, registering a CAGR of 3.5%, over the forecast period. The growth in the market is backed by strong increase in automotive industry, coupled with growing construction sector.

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Based on dynamic compressor, by type, China compressor market is categorized into centrifugal and axial flow segments. Among these types, the centrifugal compressor held the largest share in the market in 2018. The major application areas of centrifugal compressors are in oil-refineries, natural gas processing, and in food & beverage industries.

Based on portability, China compressor market is categorized into a stationary compressor and portable compressor. Among these, stationary compressors held the largest share in the market in 2018. This is due to a large number of application areas of these compressors in power, industrial manufacturing, HVAC-R, chemical and cement, oil & gas, automotive, and food & beverage industries.

Based on the region, central China is expected to be the fastest growing region as it consists of Hubei province that has a strong industrial base. As a part of the 13th five-year plan, the Hubei government is focusing on the development of emerging manufacturing industries.

The automotive industry makes use of compressors throughout the vehicle production process which include, product finishing, car painting, tire inflation, and plasma cutting and welding. The major factors driving the automotive industry in China includes rising disposable income of the populace and increasing vehicle production.

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China compressor market is a highly competitive market. Companies like Hanon Systems and MAHLE GmbH are involved in facility expansions in China. Moreover, companies such as Atlas Copco AB, Kaeser Kompressoren SE were majorly involved in product launches to increase their business. Some of the key players operating in the China compressor market include RECHI PRECISION CO., LTD, ELGI EQUIPMENTS LIMITED, Kaeser Kompressoren SE, Ingersoll-Rand plc, Atlas Copco AB, Kobe Steel Ltd., ANEST IWATA Corporation, Hitachi, Ltd., Zhe Jiang Hongwuhuan Machinery Co., Ltd, MAHLE GmbH, Hanon Systems, and Toyota Industries Corporation.

China Compressor Market Segmentation
Market Segmentation by Type
• Positive Displacement
o Reciprocating
 In-line
 “V” shaped
 Tandem piston
 Single-acting
 Double-acting
 Diaphragm
o Rotary
 Screw
 Vane
 Lobe and scroll
• Dynamic
o Centrifugal
o 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

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https://www.psmarketresearch.com/market-analysis/middle-east-and-africa-compressor-market

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