Day: November 25, 2021

The Asia-Pacific (APAC) compressor market attained a value of $19.9 billion in 2019, and it is predicted to advance at a CAGR of 3.2% between 2020 and 2030. Furthermore, the market will generate a revenue of $25.7 billion by 2030. The factors driving the market expansion are the expansion of the heating, ventilation, and air conditioning (HVAC) and automotive industries and the surging investments being made in infrastructural development and gas pipeline projects in the region.

As per reports, the automotive industry registered a growth of nearly 35%, in terms of vehicle sales, from 2012 to 2019 in China and around 22% in vehicle sales in India from 2012 to 2018. Depending on type, the APAC compressor market is bifurcated into positive displacement and dynamic. Between these, the positive displacement bifurcation held the larger share in the market in 2019, due to the extensive requirement for rotary type of compressors. 

Moreover, because of the surging usage of these compressors in several applications such as automotive, heating, ventilation, air conditioning, and refrigeration (HVAC-R), industrial manufacturing, power, construction, and food and beverage, the category is predicted to dominate the market in the forthcoming years. When application is taken into consideration, the market is categorized into power, construction, industrial manufacturing, HVAC-R, chemical and cement, oil and gas, automotive, food and beverage, textile, agriculture, research, and healthcare. 

Hence, the market is certain to exhibit rapid progress in the coming years, primarily because of the expansion of the HVAC and automotive industries, soaring usage of compressors in these industries, and the booming construction sector in several APAC countries. 

This market research report provides a comprehensive overview of the market

• The 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

The International Telecommunication Union (ITU) estimates that the number of internet users around the world surged from 3.7 billion in 2018 to 4.0 billion in 2019. As per the ITU, around 51% of the global population was using the internet in 2019. The surging internet usage can be owed to the rising affordability of the internet, primarily on account of rapid technological developments in the information technology (IT) and telecom industry.

The widespread internet use is facilitating the adoption of online fitness platforms to remain healthy, as they help in measuring health parameters, such as heart rate and calories burnt. Additionally, the increasing penetration of smart devices, such as smart TVs, smartphones, and smartwatches, will also contribute to the online fitness market growth during the forecast period (2021–2030).

The growth of this market can also be credited to the growing preference for outdoor fitness activities, such as bodyweight training, cycling, high-intensity interval training (HIIT), pilates, and trail running. Besides, the increasing advancements in the smart wearable technology will also propel the adoption of online fitness platforms, owing to the ability of advanced wearables to track the progress of individuals and get the maximum benefit from such physical activities.

According to P&S Intelligence, the North American region was the dominant customer of online fitness platforms in the recent past, owing to the high public awareness regarding a healthy lifestyle and deep penetration of the internet and smartphones. The World Bank states that approximately 89% of the U.S. population and about 97% of the Canadian population had access to the internet in 2019.

Additionally, the rising popularity and affordability of smart wearables will also encourage the people of Canada and the U.S. to shift toward online fitness platforms to connect their devices and measure their progress via smart applications. Thus, the growing internet and smartphone usage and increasing preference for outdoor physical activities will accelerate the adoption of online fitness platforms worldwide.