The automotive industry is expanding rapidly at the present time due to
the increasing disposable income of people, rising demand for electric
cars, and technological advancements. From 2012–2017, the automobile
industry registered a growth of around 17% in the sales of all types of
vehicles around the globe. In addition to this, the demand for passenger vehicles witnessed nearly
16% growth in the same time period worldwide.
This expansion of the
automotive industry is resulting in the rising requirement for
compressors, as they are widely used in various applications in the
industry, including engine construction, tire inflation, air
conditioning systems, and car painting.
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HVAC systems perform heating and cooling pf buildings and are utilized
in both commercial and residential sectors. In 2017, the overall AC
demand stood at 110 million, which rose from 100 million in 2013. The
HVAC domain is further expected to witness considerable growth in the
near future as well because of the increasing construction of commercial
as well as residential buildings, expanding smart homes market, and
development of energy efficient systems.
The rising usage of screw compressors is a key driving factor for the growth of compressor market. At the present time, energy efficiency is a primary requirement observed in the domain. This is the major reason for the increasing adoption of screw compressors, as they offer higher efficiency than reciprocating compressors.
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Compressors are utilized in HVAC systems and refrigerators that are
installed in various application areas, such as food outlets, hotels,
industrial buildings, residential buildings, supermarkets &
hypermarkets, and commercial buildings. Hence, as the demand for HVAC-R
systems increase, the requirement for compressors will rise as well. Apart from better energy efficiency, these compressors also provide
continuous flow and low-end temperature of the compressed air.
