From earning $902.9 million in 2018, the Association of Southeast Asian Nations air compressor market is foretold to get $1,126.9 million by 2024, witnessing a 3.6% CAGR throughout the forecast period (2019–2024). A shift toward energy-efficient air compressors, increasing construction activities, and the flourishing automotive industry are influencing the market positively. ASEAN, short for the Association of Southeast Asian Nations, has Laos, Cambodia, Vietnam, Brunei, Thailand, Myanmar, the Philippines, Singapore, Malaysia, and Indonesia, as its members. A machine that is used for increasing the atmospheric pressure by reducing its volume is termed as an air compressor.
An inclination toward oil-free compressors will be observed within the ASEAN air compressor market. Industries like oil & gas, automotive, textile, food and beverage, power, chemical, and manufacturing use compressors in high numbers.
Based on lubrication, the ASEAN air compressor market is divided into oil-flooded and oil-free. In 2018, the larger value share within the market was accounted for by oil-flooded compressors throughout the period (2014–2018) thanks to their high demand across varied industries due to their ability to supply high pressure. Within the forecast period, oil-free compressors are expected to witness the higher CAGR as they’re heavily deployed within the food and beverage industry and hospitals because they release clean air.