Malaysia and Vietnam Air Compressor Market to Grow at 5.9% CAGR by 2030
Migration of manufacturing companies in these countries and rising construction activities are the factors driving the Malaysia and Vietnam air compressor market growth.
The Malaysia and Vietnam Air Compressor Market is expected to grow at a CAGR of 5.9% from 2022-2030, according to a new research report by Next Move Strategy Consulting.
Air compressors are used to compress air by increasing the pressure and thereby decreasing its volume. It is done by converting electric power into potential energy. The stored potential energy can be used in various industrial processes. Some of the industries where air compressors are extensively used include mining, pharmaceutical, food and beverage, petroleum, chemicals, manufacturing and others. Air compressors play an important role in the improvement of safety, efficiency, and profitability of these industries.
The air compressor market in Malaysia and Vietnam is expected to thrive due to factors such as expansion of automotive industry and move towards energy-efficient air compressors. Industries such as textile, food & beverage, oil & gas, automotive, chemical, power and manufacturing companies use compressors in high numbers. A preference towards oil-free compressors has been witnessed in the ASEAN countries, especially in Malaysia and Vietnam. This is mostly because the use of oil flooded air compressors in industries such as food and beverages, oil and gas, and chemical often lead to contamination and condensation issues. This has led to the growth of Malaysia and Vietnam air compressor industry. However, factors such as high installation and maintenance cost coupled with emission of greenhouse gases are hindering the market growth.
Based on the technology, the market is segmented into reciprocating, rotary, and centrifugal. Based on type, the market is divided into, portable and stationary. Based on lubrication, the market is classified into oiled and oil-free. Based on power rating, the market is divided into 0-100 kW, 101-300 kW, 301-500 kW, and 501 kW & above. Based on end-user the market is categorized into food & beverage, oil & gas, manufacturing, medical, power generation, and others.
Browse key industry insight from the report, “Malaysia and Vietnam Air Compressor Market by Type (portable and stationary), by technology (reciprocating, rotary, and centrifugal), by lubrication (Oiled and Oil-free), by Power Rating (0-100 kW, 101-300 kW, 301-500 kW, and 501 kW & above), and by End-User (food & beverage, oil & gas, manufacturing, medical, power generation, and others) – Malaysia and Vietnam Opportunity Analysis and Industry Forecast 2022-2030”
According to the report, some of the key players of Malaysia and Vietnam air compressor market are Atlas Copco AB, Kobelco Kobe Steel, Fu sheng Co. Ltd, Kaeser Kompressoren SE, Sullair, ElgiEquipments Ltd, Ebara Corporation, Desran Compressor, Ingersoll-Rand Plc and Mitsubishi Heavy Industries Ltd.
Key Insights from the Malaysia and Vietnam Air Compressor Market Report:
Current emerging trends and opportunities are extensively analysed in Malaysia and Vietnam air compressor market.
The forecast of the Malaysia and Vietnam air compressor market comes along with additional information associated with opportunities, restrains and key drivers in the market.
The report Malaysia and Vietnam air compressor market- segmented by type, technology, lubrication, power ratings and end-user.
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