Market Trends of Rotary Lobe Compressor Industry
This section covers the major market trends shaping the Rotary Lobe Compressor Market according to our research experts:
Chemical Segment to Witness Growth
- The chemical sales in the Asia-pacific region accounted for 2185.5 USD billion, in 2019. This amount was the highest amount among all the regions in the market. Most of the chemical sales are expected to come from China, India, and Japan. The region also has a large petrochemical industry, which contributes significantly to the supply chain. All of this requires a high amount of rotary lobe compressors, which is expected to increase with the increase in chemical sales.
- The chemical industry deploys rotary lobe compressors for the manufacturing and processing of different products, especially because of their capability of operating at much higher than ambient temperatures. For example, Delta Hybrid from Aerzen Machines Pvt. Ltd can be operated at final temperatures of 160 °C to 230 °C.
- The global chemical industry grew by 2.0%, in 2019, which was below the 2.7% growth registered in 2018. The slowdown in growth can be attributed to the decline in demand from the automobile sector. The global automobile sector has been hugely affected by the uncertainty in the future of old model vehicles, as major countries upgrade the fuel quality to reduce emissions.
- Hence, rapid industrialization, improving economic activities, and growing populations across the globe are expected to boost industrial sectors where rotary lobe compressors are densely deployed.
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Asia-Pacific to Dominate the Market
- The Asia-Pacific is full of opportunities for suppliers of rotary lobe compressors. The end-user industries, such as pneumatic conveying, aeration in effluent treatment plant (ETP), water treatment plants (WTP), cement plants, for filter backwash, aquaculture, aeration, chemical industry, and other manufacturing sectors where lobe compressors are heavily deployed, have had significant investments in this region.
- Advantages of rotary lobe compressors like higher efficiency at moderate compression ratios and very little maintenance over other types of compressor equipment aid the growth of the market, especially in areas such as Asia-Pacific, where maintenance cost is considered a significant factor.
- Countries across the world are witnessing a surge to cut down cement import bills and are promoting domestic production of cement. Countries across the globe, including India and Japan, have undertaken significant overhaul steps in the cement sector, such as India's Make in India initiative. There is a rising trend of setting up new cement factories across the world, which is expected to support the growth of the rotary lobe compressor market during the forecast period.
- China is expected to lead the growth in the region as it has the most significant industries requiring the use of lobe rotary compressor. Its Index of Industrial Production (IIP) grew by 5.7 % in 2019. A continuous increase in the industrial index of production is expected to grow the manufacturing and industrial base and may aid the growth of the rotary lobe compressor market.
- With improving economic conditions and the influx of technological advancement, the overall industrial sector is expected to witness growth during the forecast period. It is likely to drive the rotary lobe compressor market.
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