March 03, 2020
The research report on ‘Asia Pacific Portable Air Compressor Market Size By Technology, Application, Lubrication, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2024’, which is available at MarketStudyReport.com, provides key industry trends and projected growth rate of Asia-Pacific portable air compressor market.
According to the report, Asia-Pacific portable air compressor industry is presumed to surpass USD 4.5 billion by the year 2024. Factors such as improving standards of living, rising capita per income and growing demand for commercial vehicles have enhanced the production rates of automobiles across the region, which in turn is a major factor driving the growth of the portable air compressor market in Asia-Pacific. Portable air compressors are majorly used in automotive industry in applications such as air conditioner, engine construction, and vehicle assembly. Adding to this, availability of low cost labor and favorable government initiatives are further aiding the market expansion. However, strict government reforms pertaining to the use of the product may hinder the market growth.
The report states that reciprocating portable air compressor market segment is expected to record substantial growth through 2024. This product type is extensively used as a power source of pneumatic tools and equipment as well as for industrial applications, which in turn is driving the segmental growth. On the other hand, oil-free portable air compressor market segment is presumed to expand considerably during the forecast period. Growing demand for pure air in electronics, healthcare, and food & beverage industry are stimulating the industry outlook.
Based on the application spectrum, the food & beverage applications of portable air compressors in Asia-Pacific will record a growth rate of CAGR 4.5% during 2019-2024. Rising adoption of air knives, fluid pumping, and pure air for packaging activities coupled with rapid expansion of food & beverage industry across the region is facilitating the business scenario.
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The prominent companies operating in the Asia-Pacific portable air compressor industry are Atlas Copco, Sullair, Gardner Denver, Ciasons Industrial, Kaeser Kompressoren, Quincy, Ingersoll-Rand, and Rolair Systems.
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