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Asia-Pacific Compressor Market Size (2024 - 2029)

The Asia-Pacific compressor market is projected to experience growth driven by the rising demand from refineries and steel manufacturing plants, which utilize compressors for gas transportation and energy generation. Despite the challenges posed by the increasing installation of renewable energy sources that do not require compressors, the shift towards gas-fired plants for cleaner energy in response to environmental concerns is expected to offer significant opportunities for market expansion. China's prominence in the region's manufacturing sectors, such as steel, chemical, and power, positions it as a leading force in the market.

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Market Size of Asia-Pacific Compressor Industry

Asia-Pacific Compressor Market Summary
Study Period 2021 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2021 - 2022
CAGR > 3.50 %
Market Concentration Low

Major Players

Asia-Pacific Compressor Market Major Players

*Disclaimer: Major Players sorted in no particular order

APAC Compressor Market Analysis

The Asia-Pacific compressor market is expected to witness a CAGR of more than 3.5% during the forecast period.

The market was negatively impacted by COVID-19 in 2020. However, the market has znow reached pre-pandemic levels.

  • Over the long term, factors such as increasing demand for compressors from the refineries and steel manufacturing plants used for gas transportation and energy generation plants are likely to drive the Asia-Pacific compressor market.
  • On the other hand, increasing the installation of renewable energy sources to provide power that does not use compressors is expected to restrain the Asia-Pacific compressor market.
  • Nevertheless, countries in the Asia-Pacific have acknowledged the environmental pollution due to the usage of coal. Hence, nations have increased the use of gas-fired plants for a cleaner form of energy. Such implementation by different countries is expected to create several future opportunities for the Asia-Pacific compressor market.
  • Due to its dominance in the region's steel, chemical, power, and other manufacturing industries, China is expected to dominate the Asia-Pacific compressor market.

APAC Compressor Industry Segmentation

A compressor is a mechanical device that increases the pressure of a gas by reducing its volume. Compressors are used throughout the industry to provide instrument air; power air tools, paint sprayers, and abrasive blast equipment; phase shift refrigerants for air conditioning and refrigeration; propel gas through pipelines; etc.

The Asia-Pacific compressor market is segmented by type and end user. By type, the market is segmented by positive displacement and dynamic compressors. By end user, the market is segmented by the oil and gas industry, power sector, manufacturing sector, chemicals and petrochemical industries, and other end users. The report also covers the market size and forecasts for the Asia-Pacific compressor market across the major countries. For each segment, the market size and forecasts have been done based on revenue (USD billion).

Type
Positive Diplacement
Dynamic
End User
Oil and Gas Industry
Power Sector
Manufacturing Sector
Chemicals and Petrochemical Industry
Other End Users
Geography
India
China
Japan
Rest of Asia-Pacific
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Asia-Pacific Compressor Market Size Summary

The Asia-Pacific compressor market is poised for steady growth, driven by increasing demand from key industries such as refineries, steel manufacturing, and energy generation plants. The market has rebounded to pre-pandemic levels after the initial setbacks caused by COVID-19. The shift towards gas-fired plants for cleaner energy is expected to create new opportunities, despite the potential restraint from the rise of renewable energy sources. China, with its robust industrial base and dominance in sectors like steel, chemical, and power, is anticipated to lead the market. The country's expanding refinery capacity and focus on gas for energy generation further bolster its position in the compressor market.

Compressors play a crucial role in the oil and gas industry, facilitating various applications across upstream, midstream, and downstream sectors. The expansion of gas pipeline networks is a significant driver of market growth. The oil and gas sector is expected to be the largest and fastest-growing segment in the region, supported by initiatives like the Panipat refinery expansion in India and collaborations in refining and petrochemical projects in China. The market is characterized by fragmentation, with key players such as Atlas Copco, Siemens, and Mitsubishi Heavy Industries actively participating. Recent developments, including agreements for compressor supply in petrochemical and marine applications, highlight the dynamic nature of the market.

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Asia-Pacific Compressor Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Force Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Positive Diplacement

      2. 2.1.2 Dynamic

    2. 2.2 End User

      1. 2.2.1 Oil and Gas Industry

      2. 2.2.2 Power Sector

      3. 2.2.3 Manufacturing Sector

      4. 2.2.4 Chemicals and Petrochemical Industry

      5. 2.2.5 Other End Users

    3. 2.3 Geography

      1. 2.3.1 India

      2. 2.3.2 China

      3. 2.3.3 Japan

      4. 2.3.4 Rest of Asia-Pacific

Asia-Pacific Compressor Market Size FAQs

The Asia-Pacific Compressor Market is projected to register a CAGR of greater than 3.5% during the forecast period (2024-2029)

Siemens AG, Mitsubishi Heavy Industries Ltd , Doosan Co Ltd , Atlas Copco AB and Aerzener Maschinenfabrik GmbH are the major companies operating in the Asia-Pacific Compressor Market.

Asia-Pacific Compressor Report Snapshots

Asia-Pacific Compressor Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)