The demand for compressors in China is expected to register exponential growth in the coming years, primarily due to the rapid advancements in the country’s construction sector. The burgeoning construction activities have contributed toward the rising demand for energy-efficient heating, ventilation, and air-conditioning (HVAC) systems, thereby fuelling the growth in the demand for compressors.
Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/china-compressor-market/report-sample
As per the Council on Tall Buildings and Urban Habitat, China’s hotel industry is advancing at a 2% year-on-year (YoY) growth rate, which is boosting the demand for compressors in the country. The other major factor raising the sale of these devices in China is the rising population, increasing urbanization across the country, and thriving automotive industry, which is set to witness massive growth in the coming years due to the soaring vehicle production and rising disposable income of the people.
As a result, the Chinese compressor market is predicted to generate revenue of $15.7 billion by 2024, which would be a huge increase from its valuation of $12.7 billion in 2018. The market is expected to advance at a CAGR of 3.5% during the forecast period (2019-2024). On the basis of application, the Chinese compressor market is divided into power, HVAC-R, automotive, food & beverages, construction, industrial manufacturing, chemical & cement, oil & gas, textile, and others (which include agriculture, healthcare, and research laboratories).
Make Enquiry Before Purchase @ https://www.psmarketresearch.com/send-enquiry?enquiry-url=china-compressor-market
This market research report provides a comprehensive overview of the China compressor market
- Future potential of the market through its forecast for the period 2020– 2030
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings