The Indian Compressor Market generated revenue of $ 1943.4 million in 2019 from where it is expected to grow at a CAGR of 6.2% during the forecast period (2020-2030) for a value final of $ 2,891.9 million by 2030. A compressor is any device used to increase the pressure of air or a gas by decreasing its volume for use in a large number of applications. The main drivers for the growth of the Indian compressor market are the expanding automotive and manufacturing sectors in the country.
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Among these, the positive displacement bifurcation has dominated the market during the historical period (2014-2019) in terms of volume and value, and the same scenario is predicted for the forecast period. The dynamic bifurcation is expected to develop faster in both aspects due to the expansion of the steel, oil and gas, and cement industries, which use such compressors in large numbers.
Heating, ventilation, air conditioning and refrigeration (HVAC-R), automotive, industrial manufacturing, chemicals and cement, energy, oil and gas, textiles, food and beverage and construction are the main applications of these devices. Among these, automotive application has dominated the Indian compressor market throughout the historical period in terms of revenue generation and will continue to do so during the forecast period.
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This market research report provides a comprehensive overview of the Indian Compressor Market
- History and current size of the Indian compressor market
- Future potential of the market through its forecasts for the period 2020-2030
- Main factors driving the market and their impact in the short, medium and long term
- Market constraints and their impact in the short, medium and long terms
- Recent trends and evolving opportunities for market players
- History and current size of market segments and understand their future comparative potential