Malaysia and Vietnam Air Compressor Market Global Demand, Competitive Landscape and Business Outlook 2021 to 2030

The Malaysia and Vietnam Air Compressor Market was valued at USD 205.3 million in 2019 and is predicted to reach USD 378.6 million by 2030 with a CAGR of 5.7% from 2020-2030.

Air compressors are used to compress the air by forcing more and more air into a storage tank, increasing its pressure. It uses either an electric motor, diesel or gasoline engine for the compression of air until tank's pressure reaches its engineered upper limit. The potential energy stored in pressurized air is than used in various applications such as production of petrochemical products, transportation of fluids & gases, operations of pneumatically based machineries and in cooling applications. Also, air compressors are widely used in medical equipment, vacuum packaging, spray painting, dehydrating, tool powering, and air blowing.

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Top Companies: Atlas Copco AB, Kobelco Kobe Steel, Fu sheng Co. Ltd, Kaeser Kompressoren SE, Sullair, ElgiEquipments Ltd, Ebara Corporation, Desran Compressor, Ingersoll-Rand Plc and Mitsubishi Heavy Industries Ltd. and others.

Market Dynamics and Trends

Expansion of the automotive industry across Malaysia and Vietnam coupled with growing construction activities, rapid industrialization and availability of raw materials are the key factors driving the growth of air compressor market in this region. Moreover, there has been a surge in the demand for oil free compressors among industries to reduce contamination and condensation issues, which is also expected to contribute towards the growth of the market.

Also, owing to the ongoing trade war between the U.S. and China, many manufacturing companies had pulled out their facilities from China and have been shifting to South Asian countries including Malaysia and Vietnam. As air compressors are widely used in manufacturing industry, it is expected that these countries would witness significant growth in the air compressor market size due to the migration of these multinational companies. However, high cost, emission of greenhouse gases and resulting noise pollution during the use of air compressors are factors restraining the market growth in these countries.

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Market Segmentations and Scope of the Study:

The Malaysia and Vietnam Air Compressor Market is segmented on the basis of type, technology, lubrication method, power rating, end-user. On the basis of type, the market is analyzed into portable and stationary. On the basis of technology, the market is segmented into reciprocating, rotary, and centrifugal. On the basis of lubrication method, the market is divided into oiled and oil-free. On the basis of power rating, the market is classified into 0-100 kW, 101-300 kW, 301-500 kW, and 501 kW & above. On the basis of end-user, the market is categorized into food & beverage, oil & gas, manufacturing, medical, power generation, and others.

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This release was published on openPR.