Press release
APAC Compressor Market Poised for Growth, with India and China Leading Demand Surge
APAC Compressor Market Share
The market's key growth drivers include a rise in infrastructure spending, particularly in China and India, alongside the automotive sector's growing demand for compressors, especially due to the rising adoption of electric vehicles. While the COVID-19 pandemic caused disruptions, the APAC compressor market is expected to recover with a steady increase in market demand.
The market is categorized by type, lubrication, pressure, and application. The positive displacement segment held the largest market share in 2019 and is expected to maintain dominance due to its efficiency and broad application. Oil-flooded compressors, known for their high pressure, are also a major segment, particularly in industries where clean air is crucial. Meanwhile, stationary compressors, owing to their low maintenance cost, are predicted to continue dominating, particularly in the automotive, construction, and manufacturing sectors.
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Key Insights
Market Segmentation:
The positive displacement compressors category dominated the market in 2019, driven by their efficiency, long service life, and low operating costs. The oil-flooded compressors category maintained dominance in lubrication types due to their ability to generate higher pressures.
Stationary compressors lead the market due to their widespread use in automotive air-conditioning and other industrial applications, where power and volume are critical.
The medium-pressure segment is growing rapidly due to its increasing use in automotive and home appliance sectors.
Regional Trends:
China continues to dominate the APAC compressor market, benefiting from its position as a global manufacturing hub. With initiatives like 'Made in China 2025,' the country's machinery production is expected to grow significantly, supporting compressor demand, particularly in the automotive sector.
India is witnessing the fastest market growth, driven by its booming automotive and construction industries. The country's construction market is set to reach $1 trillion by 2025, further driving compressor adoption.
Technological Advancements:
Energy-efficient compressors are a significant trend, with countries like China and India focusing on energy conservation programs. The development of such compressors, which reduce greenhouse gas emissions, is gaining momentum.
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Companies like Elgi Equipments Limited are at the forefront of offering energy-efficient solutions, pushing the demand for green technology in the compressor market.
Competitive Dynamics:
The APAC compressor market is highly competitive, with major players continuing to innovate in terms of energy efficiency and product offerings.
The automotive industry remains a significant contributor to compressor sales, leveraging compressors for tire inflation, car painting, and air-conditioning systems.
Opportunities for Growth:
The growing demand for compressors in the automotive industry, particularly with the rise of electric vehicles, presents a substantial opportunity for growth.
The ongoing urbanization and infrastructure projects in APAC, including smart city developments in India and transportation infrastructure in China, are likely to drive further demand for compressors.
About P&S Intelligence
P&S Intelligence offers custom and syndicated market research and consulting services to clients across the globe. Our team of young and dynamic researchers, guided by mentors with years of experience, create data-rich reports tailored to the needs of MNCs as well as startups and SMEs. We remain in a perennial quest to offer exhaustive insights into every aspect of the market, allowing businesses of all sizes to seize even the smallest of opportunities and tackle even the biggest of challenges.
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