China Compressor Market to Witness the Highest Growth Globally in Coming Years

China Compressor Market is Witnessing a 3.5% CAGR during the forecast period, the Chinese compressor market is projected to garner $15.7 billion by 2024. Growth in the construction and the automotive industries is the major driver for this market.

The Chinese compressor market is bifurcated into portable and stationary compressors on the basis of portability. In 2018, the larger market share was held by the stationary compressor category, as such compressors are heavily used in the chemical and cement, food & beverage, industrial manufacturing, automotive, power, oil & gas, and heating, ventilation, air conditioning, and refrigeration (HVAC-R) industries.

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The dynamic compressor category of the type segment of the Chinese compressor market is subcategorized into axial and centrifugal flow. The larger share in the market was held by the centrifugal flow category in 2018. Natural gas processing, oil refining, and food & beverage manufacturing are the major application areas of these compressors.

The subdivisions of the Chinese compressor market, based on application, are construction, automotive, textile, HVAC-R, agriculture, industrial manufacturing, food & beverage, chemical & cement, oil & gas, and others. Amongst all, a market share of 37.5% was registered by the automotive subdivision in 2018. Increasing initiatives by the Chinese government to popularize electric vehicles and the growing automotive sector have contributed to this subdivision’s growth.

The vehicle production process includes welding, plasma cutting, product finishing, tire inflation, and car painting. Compressors are heavily used in the automotive industry throughout the manufacturing process. Rising vehicle production and disposable income in the country are majorly contributing to the Chinese automotive industry’s growth.

Central China is expected to witness the fastest growth within the country, as the Hubei province, which has a strong industrial base, is located there. The development of emerging manufacturing industries is one of the major agendas of the local government, mentioned in its 13^th five-year plan.

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Kaeser Kompressoren SE, Hanon Systems, Hitachi Ltd., Zhe Jiang Hongwuhuan Machinery Co. Ltd., Toyota Industries Corporation, Atlas Copco AB, Ingersoll-Rand PLC, and Kobe Steel Ltd. are some of the key players in the Chinese compressor market.

 China Compressor Market Segmentation

 Market Segmentation by Type

• Positive Displacement
• Reciprocating
• In-line
• “V” shaped
• Tandem piston
• Single-acting
• Double-acting
• Diaphragm
• Rotary
• Screw
• Vane
• Lobe and scroll
• Dynamic
• Centrifugal
• Axial flow

 Market Segmentation by Lubrication Type

• Oil-Free
• Oil Flooded

 Market Segmentation by Portability

• Portable
• Stationary