APAC Air Compressor Market Competitive Landscape, Insights by Geography, and Growth Opportunity
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Another important and, perhaps, the most-common application area of such devices, is heating, ventilation, air conditioning, and refrigeration (HVAC-R) systems. The most-important component of an AC or fridge is the compressor, as it is what provides the cooling. Hence, with the global temperature rising each year as a result of climate change due to air pollution, the demand for such systems is burgeoning. In addition, the rising disposable income in developing countries is allowing people to purchase ACs and fridges, thereby propelling air compressor sales in APAC.
Such machines are widely used in the construction, industrial manufacturing, power, HVAC-R, oil & gas, chemical & cement, automotive, textile, food & beverage, healthcare, agriculture, and research sectors. Among these, the food & beverage sector’s procurement of air compressors will be at the highest rate in the coming years. Here, compressors are used to clean utensils and bins where using chemicals or other agents is banned due to product safety concerns and in various production purposes. For instance, in factories that produce coated products, the excess coating of vanilla, chocolate, cheese or other emulsions is blasted off with pressurized air.
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Recently, the APAC air compressor market was dominated by China, as it is home to the largest manufacturing sector in the world. Cost-effective labor and raw materials, less-stringent environmental regulations than the Western world, and a huge population have encouraged European and North American manufacturers to set up factories here. Moreover, China is home to a large number of domestic industrial companies, which keeps boosting the requirement for air compressors and other equipment.
In the coming years, the fastest adoption of such machines in the region will likely be witnessed in India. This will be due to the government’s Make in India initiative, under which 100% foreign direct investment is allowed, in order to make the country an industrial powerhouse. Further, India has a rather large automotive industry, where air compressors are quite essential in several processes, such as spray painting and tire inflation.
Hence, with the booming manufacturing industry, the demand for air compressors will grow in the APAC region.
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