Steady Advance Predicted for APAC Air Compressor Market during 2019–2024

In Financial Year 2019, the gross value added (GVA), at basic prices based at current prices, of the Indian manufacturing sector was $403.47 billion, according to the India Brand Equity Foundation (IBEF). The agency also says that in 2019–20, the sector received a total investment of $405.88 billion in fixed assets. This clearly shows the importance the sector has for the Indian economy, and the situation is similar in other Asia-Pacific (APAC) countries too, especially China, Japan, Singapore, and Indonesia. With these investments, many new manufacturing plants are being set up, while the capacity of the existing ones is being expanded. The above-mentioned factors are creating a high demand for numerous types of manufacturing equipment, including air compressors. Thus, with the expanding manufacturing sector, the APAC air compressor market is also predicted to grow, from $11.8 billion in 2018 to $15.2 billion by 2024, at a 4.1% CAGR between 2019 and 2024 (forecast period). Air compressors increase the pressure of air, by storing quite a volume of it in a tank. The potential energy, thus created, is then used for numerous applications at production plants, as the air is released and the potential energy is converted to kinetic energy. Metal and plastic fabrication, pharmaceutical and food and beverage packaging, and supplying power to sprayers, conveyor belts, and presses are some areas within the sector where compressors are used. Here, screw air compressors are of high significance, as they provide an air-tight and contamination-free environment for the packaging of critical goods. Get Sample Copy : https://www.psmarketresearch.com/market-analysis/apac-air-compressor-market/report-sample Other than this, these machines offer strong and steady streams of air, which are desirable for cleaning, forming, and product finishing. Now, screw variants are a type of rotary compressors, which are themselves a kind of one of the two broadest types of such machines — positive displacement compressors — the other being the dynamic variants.

Comments

comments

You may also like...