The research report titled ‘Asia Pacific Air Compressor Market Size By Technology, Lubrication, Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2024’, available with Market Study Report, highlights the key industry trends and provides details regarding the growth prospects for Asia-Pacific air compressor market.
 

According to the report, Asia-Pacific air compressor market is expected to exceed USD 40 billion valuation mark by the year 2024. Growing demand for refrigerators and air conditioners is a major factor driving Asia-Pacific air compressor industry. Increasing disposable income in emerging economies is also facilitating the market expansion.
 

Based on the product landscape, the report states that stationary air compressor market segment held 99.77% share in the year 2018. The stationary segment includes various types of air compressors from refrigerators to automotive and small & medium sized industrial products
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In terms of technology, rotary segment is presumed to expand significantly during the estimated timeframe. Rising adoption of rotary compressors due to their superior efficiency, low maintenance, and less overall cost is fueling the segmental growth.
 

Elaborating on the application spectrum, the report cites that APAC air compressor market from home appliances application segment held 70% share in the year 2018 owing to rising usage of small scale products to manufacture air conditioners and refrigerators. Adding to this, increasing manufacturing of the product in China has facilitated the business scenario in Asia-Pacific.
 

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Citing the end use landscape, automotive sector is slated to present lucrative growth opportunities for Asia Pacific air compressor market by the year 2024, primarily due to growing demand for the product in the automotive industry.
 

The prominent companies operating in Asia-Pacific air compressor industry are Hitachi Industrial Equipment Systems Co. Ltd., Hubei Teweite Power Technology Co. Ltd., Sullivan-Palatek, Inc., Elgi Compressors USA, Inc., Doosan Portable Power, Ingersoll-Rand Plc, Gardner Denver, Inc., Rolair Systems, Kaeser Kompressoren SE, Atlas Copco, and Sullair LLC.