From garnering $902.9 million in 2018, the ASEAN air compressor market is predicted to generate $1,126.9 million by 2024, witnessing a 3.6% CAGR during the forecast period (2019–2024). A shift toward energy-efficient air compressors, flourishing automotive industry, and increasing construction activities are influencing the market positively.
Based on lubrication, the ASEAN air compressor market is bifurcated into oil-flooded and oil-free. In 2018, the larger value share in the market was accounted for by oil-flooded compressors all throughout the historical period (2014–2018) due to their high demand across various industries owing to their ability to provide high pressure.
An inclination toward oil-free compressors can be observed in the ASEAN air compressor market. Industries such as oil & gas, automotive, textile, food & beverage, power, chemical, and manufacturing use compressors in high numbers.
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In the food & beverage industry, for product packaging and handling, oil-free compressors are being used. Further, due to their lower discharge pressure, these compressors consume approximately 6.0% less energy than the oil-flooded type, therefore are high in demand.
This post was originally published on Raleigh Recorder