Air Compressor Market in APAC – Industry Analysis and Growth Forecast to 2024

Air Compressor Market in APAC – Industry Analysis and Growth Forecast to 2024  By pnsintelligence Post dateJune 11, 2020 Asia Air Compressor Market ASEAN air compressor market size is expected to reach $1.13 billion by 2024, registering a CAGR of 3.6% during the forecast period. The major factors stimulating the market growth includes growing automotive industry and increasing investments in construction industry in the region. Based on positive displacement air compressor type, ASEAN air compressor market is categorized into rotary and reciprocating air compressors. Among these, rotary air compressors accounted for larger revenue share in 2018, predominately attributed to the growing demand for screw air compressors from manufacturing applications. Additionally, increasing replacement of piston air compressors with screw air compressors in industrial sector is boosting the demand for rotary air compressors. Request to get the sample pages: https://www.psmarketresearch.com/market-analysis/asean-air-compressor-market/report-sample Based on country, Philippines is expected to be the fastest growing country in the region, and is expected to register a CAGR of 6.7% over the forecast period. This can be attributed to positive growth in the industrial manufacturing sector, wherein primarily food & beverage and electronic industries are showcasing highest growth in the country. It has been recorded that the country’s food & beverage industry recorded a growth of 31% during 2014-2018, owing to its rising consumer base. Rising focus toward the use of energy efficient compressor is driving ASEAN air compressor market. The governments of ASEAN countries are promoting adoption of energy efficiency measures in construction of homes, apartments, and townships. Due to active promotion of energy efficiency by governments, demand for energy efficient air compressors is increasing in the region, as it reduces energy costs and also protects environment from emission of greenhouse gases. Make Enquiry Before Purchase: https://www.psmarketresearch.com/send-enquiry?enquiry-url=asean-air-compressor-market ASEAN air compressor market is highly competitive with the presence of numerous market players. Atlas Copco AB, Hitachi Ltd., and Kobe Steel Ltd. are among the top market players in the region. Some of the key players operating in the ASEAN air compressor market includes Rechi Precision Co. Ltd., Elgi Equipments Limited, Kaeser Kompressoren SE, Ingersoll-Rand plc, Atlas Copco AB, Kobe Steel Ltd., Hitachi Ltd., Gardner Denver Holdings Inc., BOGE KOMPRESSOREN Otto Boge GmbH & Co. KG, BAUER COMP Holding GmbH, and Fusheng Co. Ltd.