Thailand Air Compressor Market by Type (Portable and Stationary), by Technology (Rotary Screw, Centrifugal, and Reciprocating), by Lubrication Type (Oil-Free, and Oil-Injected/Flooded), by Power Rating (0-100 Kw, 101-300 Kw, 301-500 Kw, and 501 Kw & Above), by Cooling Method (Air Cooled and Water Cooled), and by Industry Vertical (Manufacturing, Construction, Oil & Gas, Healthcare, and Others) –Opportunity Analysis and Industry Forecast, 2024– 2030
Industry: Construction & Manufacturing | Publish Date: 20-Jun-2024 | No of Pages: 143 | No. of Tables: 108 | No. of Figures: 73 | Format: PDF | Report Code : N/A
Thailand Air Compressor Market Overview
The Thailand Air Compressor Market size was valued at USD 535.3 million in 2023, and is projected to reach USD 716.6 million by 2030, at a CAGR of 3.7% from 2024 to 2030. In terms of volume, the market size was 25 thousand units in 2023, and is projected to reach 42 thousand units by 2030, with a CAGR of 7.1% from 2024 to 2030.
An air compressor is an essential mechanical device used across various industries to generate compressed air, that is vital for many applications. It primarily converts power from sources such as electric motors or diesel engines into potential energy stored as compressed air. This pressurized air is then used to power pneumatic tools and equipment, inflate tires, supply air to HVAC systems for climate control, and support industrial processes such as spray painting and packaging. Essentially, an air compressor provides a reliable source of compressed air, crucial for a wide range of tasks and operations in diverse business and industrial environments.
Expansion of the Pharmaceutical Sector Fuels the Thailand Air Compressor Market
The growing use of air compressors in Thailand's pharmaceutical sector fuels their adoption in maintaining stringent quality standards, operational efficiency, and product integrity in pharmaceutical manufacturing processes. According to the latest report published by ITA, Thailand is ranked as the second largest pharmaceutical industry in Southeast Asia with a valuation of approximately USD 6.4 billion in 2021. As the pharmaceutical sector expands in the region to meet growing healthcare needs, the demand for air compressors continues to rise, driven by an emphasis on efficiency, productivity, and quality assurance.
Growth of the Food Processing Industry Creates Demand for Air Compressors
The flourishing food processing industry in Thailand is driving the demand for air compressors, which play a crucial role in efficient filling, sealing, and packaging operations. These compressors help maintain optimal temperature conditions, preserving the freshness of perishable food items during the surge in processing activities.
According to the ITA report 2024, the food and beverage industry in Thailand is growing at a rapid pace, with food exports of around USD 38.8 billion and imports of around USD 3.3 billion in 2022. The industry aims to become one of the top ten processed food exporters in the world by 2027. The demand for air compressors in the food processing industry is driven by their critical role in powering pneumatic machinery, maintaining hygiene standards, and controlling temperature throughout the production process.
High Initial and Maintenance Costs Hinders the Thailand Air Compressor Market Growth
The initial cost of air compressors, coupled with the need for regular maintenance such as filter changes, lubrication, and inspections, adds to the total cost of ownership. This financial burden serves as a limiting factor for the growth of the air compressor market. As a result, small and medium-sized businesses often hesitate to invest in new air compressor systems or upgrade their existing ones and it is slowing down the market expansion.
The Integration of IoT Sensors and Cloud Platforms is Expected to Create Ample Growth Opportunity for the Market
The incorporation of IoT sensors and cloud platforms into air compressors is poised to unlock future growth opportunities within the air compressor market. This integration facilitates remote monitoring, predictive maintenance, and performance optimization of compressors. IoT sensors, embedded within air compressors, continuously gather real-time data on critical parameters such as temperature, pressure, and energy consumption.
Subsequently, this data is transmitted to cloud platforms where advanced analytics algorithms analyse it to identify potential issues, forecast maintenance requirements, and enhance compressor operations. Through harnessing IoT and cloud technologies, organizations can minimize downtime, improve equipment reliability, and optimize energy usage, thereby fueling demand for intelligent air compressor solutions and stimulating Thailand air compressor market expansion.
Competitive Landscape
The market players operating in the Thailand air compressor industry include Atlas Copco Group, Ingersoll-Rand PLC, Hitachi Ltd., Siemens Energy AG, Kaeser Kompressoren, MAT Holding, Inc., Elgi Equipment Limited, Sulzer Ltd., Mitsubishi Heavy Industries, Ltd., and Anest Iwata, among others.
Thailand Air Compressor Market Key Segments
By Type
-
Portable
-
Stationary
By Technology
-
Rotary Screw
-
Centrifugal
-
Reciprocating
By Lubrication Type
-
Oil-Free
-
Oil-Injected/Flooded
By Power Rating
-
0-100 kW
-
101-300 kW
-
301-500 kW
-
501 kW & Above
By Cooling Method
-
Air Cooled
-
Water Cooled
By Industry Vertical
-
Manufacturing
-
Construction
-
Oil & Gas
-
Healthcare
-
Others
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2023 |
USD 535.3 Million |
|
Revenue Forecast in 2030 |
USD 716.6 Million |
|
Growth Rate |
CAGR of 3.7% from 2024 to 2030 |
|
Market Volume in 2023 |
25 thousand Units |
|
Unit Forecast in 2030 |
42 thousand Units |
|
Volume Growth Rate |
CAGR of 7.1% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Million (USD) |
|
Growth Factors |
|
|
Market Share |
Available for 10 companies |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
KEY PLAYERS
-
Atlas Copco Group
-
Ingersoll-Rand PLC
-
Hitachi Ltd.
-
Siemens Energy AG
-
Kaeser Kompressoren
-
MAT Holding, Inc.
-
Elgi Equipment Limited
-
Sulzer Ltd.
-
Mitsubishi Heavy Industries, Ltd.
-
Anest Iwata
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