DUBLIN--(BUSINESS WIRE )--The "Malaysia and Vietnam Air Compressor Market by Type, by Technology, by Lubrication, by Power Rating, and by End-User - Malaysia and Vietnam Opportunity Analysis and Industry Forecast 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The Malaysia and Vietnam Air Compressor Market was valued at USD 227.2 million in 2021 and is predicted to reach USD 378.6 million by 2030 with a CAGR of 5.9% from 2022-2030.
Air compressors are used to compress the air by forcing more and more air into a storage tank, increasing its pressure. It uses either an electric motor, diesel or gasoline engine for the compression of air until the tank's pressure reaches its engineered upper limit. The potential energy stored in pressurized air is than used in various applications such as production of petrochemical products, transportation of fluids & gases, operations of pneumatically based machineries and in cooling applications.
Also, air compressors are widely used in medical equipment, vacuum packaging, spray painting, dehydrating, tool powering, and air blowing.
Expansion of the automotive industry across Malaysia and Vietnam coupled with growing construction activities, rapid industrialization and availability of raw materials are the key factors driving the growth of air compressor market in this region. Moreover, there has been a surge in the demand for oil free compressors among industries to reduce contamination and condensation issues, which is also expected to contribute towards the growth of the market.
Also, owing to the ongoing trade war between the U.S. and China, many manufacturing companies had pulled out their facilities from China and have been shifting to South Asian countries including Malaysia and Vietnam. As air compressors are widely used in manufacturing industry, it is expected that these countries would witness significant growth in the air compressor market size due to the migration of these multinational companies. However, high cost, emission of greenhouse gases and resulting noise pollution during the use of air compressors are factors restraining the market growth in these countries.
Malaysia and Vietnam Air Compressor Market - By Type
Malaysia and Vietnam Air Compressor Market - By Technology
Malaysia and Vietnam Air Compressor Market - By Lubrication Method
Malaysia and Vietnam Air Compressor Market - By Power Rating
Malaysia and Vietnam Air Compressor Market - By End-User
For more information about this report visit https://www.researchandmarkets.com/r/cvrc4q
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900