14 December 2018, The China Air Compressors Market size is projected to reach over USD 9.6 billion by 2024. It could register a CAGR surpassing 7.5 % during the forecast period (from 2016 to 2024). Robust growth of economic scale and the surging demand for different types of air compressor systems in this region can drive the market in the forthcoming years.
In terms of size, the China market for air compressors can be categorized into three levels. The first one is ‘multinational enterprises’ which includes players, such as Sullair LLC, Ingersoll Rand PLC, Atlas Copco Compressor AB, and Fusheng Group Co. Ltd. These companies exhibit strong capabilities in design and research & development. They specialize mainly in premium screw air compressor systems. The second level includes enterprises with major e-design capacities and high processing & manufacturing. Companies under the second level comprise Shanghai Hanbell Precise Machinery Co. Ltd. and Ningbo Baosi Energy Equipment and Zhejiang Kaishan Compressor.
Air compressor systems are of two types, namely screw and piston. The market for screw air compressors stood at USD 2.5 billion in 2014. It could surpass USD 3 billion by 2024. Greater adoption of remote sensing technology for evaluating & monitoring performance can contribute to favorable growth. Strong demand from food & beverages may add considerably to the overall market revenues during the forecast period. Regulatory norms pertaining to food & health safety can propel the China air compressors market in the near future. Other factors boosting demand from end-use industries are widespread adoption of variable speed systems, efficient operation at lower costs, lesser maintenance, and retrofitting of the existing systems.
The next-generation air compressor systems market with an eco-friendly edge may promote the use of the new technology. Oil-free air compressors with enhanced capacitive ability offer better efficiency. Qualities such as easy maintenance & installation can attract end-users. All these factors are likely to boost industry demand in this region.
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Single & dual phase air compressors are primarily used by industries, such as home appliance and gas & oil. The need for supplementary devices in product installation gets eliminated. Owing to this, the aforementioned industries could generate higher profits because of greater cost cuts. Volatile prices of raw materials could hinder industry growth during the forecast period.
The China air compressors market has various applications in power, mining, metallurgy, electronics, machinery manufacturing, and pharmaceuticals. Others include textile & light industries, food, and petrochemicals. Stable economic conditions in the region and the expanding equipment production sectors may fuel demand during the forecast period.
On the basis of lubrications, the market can be categorized as oil-filled and oil-free. Centrifugal, rotary, and reciprocating are the three main technologies used in this market. Based on products, the industry is segmented into portable and stationary. As per applications, the various segments are oil & gas, manufacturing, home appliances, energy, healthcare, and food & beverages. Major companies operating in the China air compressors market are Hoerbiger Holding A. G.; M. A. T. Industries Inc.; Zen Air Tech Pvt. Ltd.; Galaxy Auto Service Equipment Co. Ltd.; and W. W. Grainger Inc.
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