The leading players operating in the China reciprocating compressors market
are Wuxi Compressor Co., Ltd., Shenyang Yuanda Compressor Co., Ltd.,
Shenyang Blower Works Group Corporation, and Zigong Tongda Machinery
Manufacturing Co., Ltd., observes Transparency Market Research in its
latest publication. The highly competitive market is witnessing a rise
in the presence of local manufacturers and an influx of multinational
manufacturers as well. Research suggests that local manufacturers should
join hands with foreign investors to gain a competitive edge in the
long run.
According to the research report, the
opportunity in the China reciprocating compressors market was worth
US$771.1 mn in 2014 and is anticipated to reach US$1,178.9 mn by 2022.
Between the forecast period of 2015 and 2022, the overall market is
expected to rise at a CAGR of 5.3%. The industrial process gas
reciprocating compressors segment is anticipated to lead the overall
market by the end of 2022, earning a revenue worth US$351.3 mn.
Industrial Process Gas Reciprocating Compressors Remain Preferred Choice of Compressors
The demand for industrial process gas
reciprocating compressors will surge as manufacturers are changing their
processes from being labor-intensive to technology-oriented. The demand
for industrial process gas reciprocating compressors will continue to
surge across China as they are highly cost-effective. The oil-free
reciprocating compressors segment is also expected to present immense
opportunities as end users are trying to comply with regulatory reforms.
Owing to this reason, the installation of oil-free reciprocating
compressors will be high in industries such as food and beverage,
electronics, pharmaceutical, and textiles during the forecast period.
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Sustained Industrial Development to Raise Demand for Compressors
The World Bank estimates suggest that
China’s economy is expected to dip by 0.2% by 2017. Despite the slight
decline, the industrial production is expected to grow at a sustained
pace as the country largely depends on manufacturing. Furthermore,
increasing foreign direct investment (FDI) and the abundance of cheap
and affordable labor will keep the industrial sector going at a steady
rate. Owing to these reasons, the demand for industrial production will
remain persistent during the forecast period, the research report
predicts.
The overall market is also being driven
by efforts put in by local manufacturers to competitively price the
products, introduce improvements in the overall design of the
compressors, and offer value-added services and after-sales services.
Furthermore, catering to target-specific segments with integrated
solutions is anticipated to drive the China reciprocating compressors
market in the near future. A shifting focus towards diversification of
portfolio and increasing investment in nitrogen compression technologies
is also anticipated to open up new opportunities for players.
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