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Reciprocating Compressors Market

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Increasing Foreign Direct Investment and Presence of Local Manufacturers Impels
Reciprocating Compressors Market in China
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.
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Industrial Process
Compressors
Gas
Reciprocating Compressors
Remain Preferred Choice
of
The demand for industrial process gas reciprocating compressors will surge as
manufacturers are changing their processes from being labor-intensive to technologyoriented. 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.
Fraudulent Imitation of Compressors Restrains Market Growth
The China reciprocating compressors market is being restrained by the fraudulent
imitation of compressor designs. The intense price competition is also hampering the
profitability of compressor vendors in the overall market. In the oil-free reciprocating
compressors segment, the demand for compressors is suffering as the cost of the
disposal of waste oil is considerably high and the emergence of oil-free rotary screw
compressors is significantly providing a better alternative to the end users.
“End users of reciprocating compressors in China should focus on delivering reliable
compressors to match international standards and compete with foreign companies,”
states the lead author of this research report. This will help vendors materialize the
efforts put in by the government to promote local products.
Author
monali raghu
monali raghu349   documents Email
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