The countries in Association of Southeast Asian Nations (ASEAN) are registering economic growth and infrastructural development, due to which the construction industry is growing at a swift pace. The combines value of mega-projects across ASEAN stood around $3 trillion, as of 2018. Some of the major contributors to this amount are Singapore, Thailand, Philippines, Malaysia, Indonesia, and Vietnam.
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In addition to this, a number of infrastructural projects are in the pipeline in Malaysia under ‘Eleventh Malaysia Plan’, which includes the construction of mass rapid transit, highways, water treatment plants, electricity power plants, and light rail transit.
Because of this robust growth of the construction sector, the demand for air compressors in the ASEAN region is growing rapidly, as they are widely utilized in a number of applications in the industry. Generally speaking, compressors are mechanical devices which are utilized for increasing pressure in a variety of compressible gases or fluids, air being the most common of them.
Apart from the construction industry, air compressors are used in textile, power, food & beverage, industrial manufacturing, automotive, heating, ventilation, air conditioning, and refrigeration (HVAC-R), oil & gas, and chemical & cement sectors as well. The industrial manufacturing sectors accounted for the major demand for air compressors in the past, which is ascribed to the high industrial growth in the Philippines, Indonesia, Malaysia, and Thailand.
In the construction industry, these devices are utilized in the development of tunnels, highways, subways, bridges, and ports construction. According to a P&S Intelligence report, in 2018, the ASEAN air compressor market reached a value of $902.9 million and is expected to progress at a 3.6% CAGR during the forecast period (2019–2024).
Positive displacement and dynamic are the two types of air compressors, between which the positive displacement variants were more in demand in 2018. This is because of the rising requirement for these devices from industrial manufacturing and food & beverages sectors.
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