Expansion of Automotive Sector Propel Sales of Compressors in India
The compressor industry based in India is projected to rise in the coming years. The rising automotive sector in India is projected to boost the demand for compressors. In addition, the manufacturing sector based in India is rising rapidly, due to constant government support.
Under the type segment, the dynamic compressor category is expected to experience faster growth in the coming years. It is ascribed to the higher demand for compressors in various industries, including steel, cement, and oil & gas in the country. In addition, the rising government initiatives concerning energy-efficient solutions propel the demand for dynamic compressors.
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Under the dynamic compressor segment, centrifugal compressors hold the larger revenue share in the compressor industry based in India. It is further expected to lead the industry in the coming years. More than 90% of the centrifugal compressor industry in India is organized, with large manufacturers majorly producing compressors, led by complex design and relatively high requirements for investment.
Under the portability segment, the stationary category is projected to rise significantly. It is ascribed to high growth in the manufacturing and automotive industries in the country.
Stationary compressors suit automotive applications, including small tasks and rotating tires.
Under the pressure segment, the medium-pressure compressor category generates the largest revenue share. The medium-pressure compressors are used in automobiles, home air conditioners, and refrigerators. The expansion of the automotive and home appliances industries boosts the sales of these compressors.
Under the application segment, the automotive category holds the highest revenue share. It is ascribed to the presence of massive raw materials, superior quality machines demand, and ease in labor availability. The automotive industry in the country is projected to experience faster growth. In addition, minimal-gas-emitting, energy-efficient, and less noisy compressors account for massive demand in the automotive industry.
The northern region of India is projected to experience the fastest growth in the coming years in the compressor industry. Industrial manufacturing and the automotive industry are major application areas of compressions in the region.
Moreover, the government initiatives in the development of industrial corridors, including the Amritsar-Delhi-Kolkata industrial corridor, and Delhi-Mumbai industrial corridor, including the development of small and medium enterprises are projected to fuel the compressors demand in the northern region in the near future.
The industry is witnessing a shift toward energy-efficient compressors. The demand for energy-efficient compressors is projected to rise in the near future, due to a rising focus on energy savings, and production efficiency. It thus results in reduced energy costs and environmental protection from GHG emissions.
The major companies operating in the industry are; Kobe Steel Ltd., Indo-Air Compressors Pvt. Ltd., Kirloskar Pneumatic Co. Ltd., Anest Iwata Corporation, Kaeser Kompressoren SE, Burckhardt Compression Holding AG, Mitsubishi Heavy Industries, and Elgi Equipment Limited.
Therefore, the expansion of the automotive sector propels the demand for compressors in India.