Due to the expanding construction and automotive industries, the demand for air compressors in the Association of Southeast Asian Nations (ASEAN) member countries is increasing. As a result, the ASEAN air compressor market is projected to witness an increase in its revenue to more than $1,130.0 million in 2024 from $902.9 million in 2018, at a 3.6% CAGR during 2019–2024 (forecast period). Moreover, with the increasing environmental concerns, the requirement for energy-efficient compressors is surging. Air compressors increase the pressure of a gas by decreasing its volume.
The ASEAN air compressor market is bifurcated into dynamic and positive displacement, on the basis of type. Of these, the positive displacement bifurcation held the larger share during 2014–2018 (historical period) due to the increasing demand for these variants in the automotive, industrial manufacturing, power, food & beverage, and construction sectors. The positive displacement bifurcation is further categorized into rotary and reciprocating, of which rotary is the larger and faster-growing kind.
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Food & beverage, industrial manufacturing, textile, power, oil & gas, automotive, chemical and cement, construction, heating, ventilation, air conditioning, and refrigeration (HVAC-R), and others are the classifications under the application segment of the market. In 2018, the market was dominated by the industrial manufacturing classification, owing to the rapid growth of this sector in India and China. The Make in India and Made in China 2025 initiatives are driving industrial manufacturing activities in these countries. Moreover, with the Industrial 4.0 revolution, the demand for energy-efficient air compressors in factories is rising.
A key trend in the ASEAN air compressor market is the shift from steam and gas turbines as the prime mover to variable-frequency drives (VFD). Electric motors integrated with the VFD technology are replacing turbines as they reduce the downtime of compressors, since they have a lower maintenance requirement. Additionally, the VFD technology offers stronger process control and precise speed and reduces the noise, electricity bills, and capital investments. For instance, compared to the 36% efficiency of a gas-turbine air compressor, one equipped with the VFD technology offers 95% efficiency.
This highly compressed air finds different applications such as tire inflation, powering a turbine, functioning of any air conditioning system, spray painting, packing, medical equipment, and others.
Considering its necessity in wide range of applications, ASEAN air compressor market is estimated to grow substantially during the forecast period.Access Full Description of this report at:-https://www.nextmsc.com/report/asean-air-compressor-market Top Companies: ElgiEquipments Limited, Rechi Precision Co. Ltd., Kaeser Kompressoren SE, Atlas Copco AB, Ingersoll-Rand plc, Kobe Steel Ltd., Gardner Denver Holdings Inc., Hitachi Ltd., Bauer Comp Holding GmbH, Boge Kompressoren Otto Boge GmbH & Co. KG and others.The ASEAN air compressor market share is analyzed based on type, lubrication, portability, application and geography.
Based on type, the market is bifurcated into portable air compressors and stationary air compressors.
Based on lubrication, the market is fragmented into oil-free air compressors and oil-flooded air compressors.
Geographic breakdown and analysis of each of the aforesaid segments includes countries such as Malaysia, Vietnam, Indonesia, Philippines, Thailand, and Singapore.Request sample copy of this report at:-https://www.nextmsc.com/asean-air-compressor-market/request-sample The study comes out as an intelligent and comprehensive appraisal tool as well as a reliable guide that will help you maintain a solid place in the global ASEAN Air Compressor industry.
This includes Porter’s Five Powers and PESTLE research to equip the company with critical knowledge and comparative statistics on the Global ASEAN Air Compressor Industry.
The report includes basic information along with advanced market statistics of the global ASEAN Air Compressor Market.
Accurate information about the market dynamics along with future growth prospects are analyzed in the report.
Recent developments undertaken by major market players along with their strategic moves driving the market are also covered in the report.
Data experts analyze the market information and come up with detailed insights revealing operating margins, competitive landscape, key industry trends and the factors impacting the global ASEAN Air Compressor market.In addition to detailed market information, the report examines important factors which are driving the global ASEAN Air Compressor market.
A comprehensive analysis of factors such as potential growth, upcoming opportunities together with risks experienced by current manufacturers forms an integral part of the report.Ask for report free sample with complete TOC and list of tables/figures @ https://www.datalibraryresearch.com/sample-request/asean-air-compressor-market-2239 Global ASEAN Air Compressor Market Key Vendors Profiled:Rechi Precision Co. Ltd.Kaeser Kompressoren SEElgi Equipments LimitedIngersoll-Rand plcKobe Steel Ltd.Hitachi Ltd.Atlas Copco ABGardner Denver Holdings Inc.BAUER COMP Holding GmbHFusheng Co. Ltd.Industry newsThe key players in the global ASEAN Air Compressor market have been busy acquiring startups and participating in collaborations, mergers, and innovations.
This report highlights how the most prominent vendors in the market have been contributing to the market.
The Global ASEAN Air Compressor Market Report, with its in-depth industry analysis of the market, estimates the industry size bifurcated into segments and regions.
The Market report covers the regional, global and country level analysis with an exhaustive insight of the overall development prospects in the market.
Besides, it sheds light on comprehensive competitive landscape of global market.
The study supplementary offers dashboard outline of the major players encompassing their fruitful marketing plans, recent developments, market contribution etc.
in both historic and the present contexts.Why ASEAN Air Compressor Report is Important to You:ASEAN Air Compressor Market Research Report includes various topics that will brief you about total industry Size, Key Market Drivers, Challenges, Growth Opportunities, Industry Share, Growth, Demand, Outlook etc.
Furthermore, it covers Covid-19 Impact , key market updates, the impact of regulations and technological updates in.
