Asia-Pacific industrial air compressor market is estimated to grow at the fastest CAGR of around 5.3% during the forecast period. The growth of the Asia-Pacific industrial air compressor industry is primarily driven by China and India’s fast-paced economies and significant growth in the coal, and oil and gas sector. According to the BP PLC, the natural gas production in Asia-Pacific stood at 481.5 Mtoe (millions of tons oil equivalent) in 2015 which substantially increased to 543.2 Mtoe in 2018, accounting for an increase of around 12.8% over the period 2015-2018. The increasing natural gas production across economies of the region is among the key factors to promote market growth in the region.
A full report of Asia-Pacific Industrial Air Compressor Market is available at: https://www.omrglobal.com/industry-reports/asia-pacific-industrial-air-compressor-market
Moreover, the manufacturing activities in the electronics, automotive, chemical, and pharmaceutical industries of the region are growing considerably owing to the cohesive government initiatives. For instance, in August 2019, the Government of India permitted 100% FDI in contract manufacturing through automatic route. Further, in February 2019, the Union Cabinet of India passed the National Policy on Electronics (NPE) which has envisaged the creation of nearly $400 billion electronics manufacturing industry in the country by 2025. Apart from this, Japan, Australia, South Korea, and Taiwan are other key economies that are growing at a significant rate in the market, owing to the growing investment in energy-efficient industrial air compressors coupled with the growing industrialization.
To learn more about this report request a sample copy @ https://www.omrglobal.com/request-sample/asia-pacific-industrial-air-compressor-market
Asia-Pacific industrial air compressor market is segmented based on type, technology, and end-user. Based on the technology, the market is classified into dynamic displacement and positive displacement compressors. The dynamic displacement compressors segment is further segmented into axial flow air compressors and centrifugal compressors. Whereas the positive displacement compressors segment is further segmented into rotary air compressors and reciprocating compressors. Furthermore, rotatory compressors include lobe, screw, liquid ring, scroll & vane compressors while reciprocating includes diaphragm double-acting and single-acting compressors. Based on type, the market is classified into portable and stationary. Based on end-user, the market is segmented into food and beverage, oil and gas, manufacturing, energy & power, automotive, and others.
The companies which are contributing to the growth of the Asia-Pacific industrial air compressor market include Atlas Copco AB, BAUER COMPRESSORS INC., Ingersoll-Rand PLC, Hitachi Ltd., GE Oil & Gas, and Siemens AG. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups, and technological advancements to stay competitive in the market.
Asia-Pacific Industrial Air Compressor Market- Segmentation
By Type
• Portable
• Stationary
By Technology
• Dynamic Displacement Compressors
• Positive Displacement Compressors
By End-Users
• Food & Beverages
• Oil & Gas
• Energy and Power
• Manufacturing
• Automotive
• Others (Construction and Mining)
This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.
