The increasing globalization has led to massive improvements in the global economy, especially in the Asia-Pacific (APAC) region. This improvement in the economic growth has motivated the countries in the region to spend more on the infrastructure development.
The APAC compressor market is expected to register a 4.0% CAGR in the coming years. Compressors are mechanical devices that increase the pressure of air or a gas by reducing its volume.
One of the major contributors in the infrastructure sector of China is of the transportation sector. For instance, the world’s longest sea bridge, connecting the mainland China to Macau and Hong Kong, was opened by China in October 2017. In India, more focus is on the development of smart cities, where in 2015, the Indian government launched a smart city mission, in which 100 cities across the country will be developed with all the modern facilities.
During 2013–2017, the higher demand was for the positive displacement type compressors. These compressors are further divided into reciprocating and rotary. In the same time period, the demand for the rotary type positive displacement compressors was higher. This type uses rotational motion to compress gases.
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Therefore, keeping these factors in mind, the demand for energy-efficient compressors is rising, which may help in reducing energy consumption. APAC countries, such as India and China are focusing on the development of energy-efficient programs in order to conserve more energy.
For instance, an agreement of $220 million loan was signed between the World Bank and Indian government, in 2018, to scale up the energy efficiency program in India.
This post was originally published on Raleigh Recorder