Vietnam Air Compressor Market Report and Forecast 2024-2032

Vietnam Air Compressor Market Size

The Vietnam air compressor market is projected to grow at a CAGR of 5.10% between 2024 and 2032.

Vietnam Air Compressor Market Outlook

• As per the Culinary Business Market in Vietnam in 2023 Report, the food and beverage sector in Vietnam witnessed a growth of around 11.47 per cent in 2023, fuelling the demand for air compressors in food packaging.

• As per industry reports, healthcare expenditure in Vietnam was expected to grow by 9.2 per cent from 2009 to 2025, creating a lucrative market for air compressors used in ventilators and dental treatments, among others.

• As per Vietnam air compressor industry analysis, Petrovietnam's total revenue was around 745 trillion VND during the first ten months of 2023, boosting the growth of air compressors that are used to move crude oil from source to refineries.

Vietnam Air Compressor Market Growth

Rapid industrialisation in the country, increased adoption of energy-efficient air compressors, and favourable government initiatives supporting the manufacturing sector are some of the major market drivers. The growing emphasis on energy efficiency and sustainability is driving industrial sectors to adopt energy-efficient air compressors, thereby decreasing operational costs and minimising environmental impact. Air compressors are becoming essential equipment across various industries like food and beverage production, healthcare, and oil and gas extraction. This expanding range of uses is driving market growth and stability. Additionally, the expanding oil and gas sector is a significant consumer of air compressor and hence boosts the Vietnam air compressor market revenue.

The integration of IoT (Internet of Things) and smart technologies in air compressor systems has revolutionised various end-use sectors drawing them towards these cutting-edge solutions. This integration offers a wide range of benefits including enhanced monitoring, maintenance, and efficiency, among others.  Moreover, the growing popularity of portable and compact air compressors, especially in small-scale businesses and DIY projects reflects the changing preferences of consumers in the country which influences Vietnam air compressor market dynamics and trends.

Key Trends and Recent Developments

Growth in consumer industries, focus on energy efficiency and rise in domestic manufacturing are providing several Vietnam air compressor market opportunities

August 2024

Carrier marked a new milestone in Vietnam with the launch of XCT7, the latest generation of its variable refrigerant flow (VRF) technology. The new variant is expected to include improved reliability, enhanced system performance, high efficiency, a large operating range, easy installation, and incredible flexibility.

April 2024

ZF reveals an electric high-speed air compressor for fuel-cell-powered M&HCVs. As part of ZF’s latest drive towards the decarbonisation of the commercial vehicle industry, ZF group’s Commercial Vehicle Solutions (CVS) division has announced the world premiere of a key next-generation eMobility product.

October 2023

From October 26 to 28, 2023, the Vietnam Society of Refrigeration and Air Conditioning Engineer (VISRAE) collaborated with IBC International Branding and Communications Joint Stock Company (IBC) to organise a series of international events: Cleanroom, HVACR and High-tech Factory Cleanfact & Resat Expo 2023.

Growth in consumer industries

Vietnam is transitioning from an agriculture reliant economy to an industrial economy, therefore the demand for compressed air across various sectors such as manufacturing, construction, and automotive - is surging. As the industries are witnessing prominent growth, populations are moving to urban areas, creating larger markets for goods and services, and stimulating further economic activity.

Domestic manufacturing is on the rise

The Vietnamese government is actively encouraging local manufacturing to decrease dependence on imports and strengthen the national economy. Domestic producers frequently provide more competitive prices than imported goods. Additionally, local manufacturers have the ability to customize products to meet the specific needs and preferences of customers thereby propelling the growth of the Vietnam air compressor market.

Growth of after-sales services

As customers become increasingly reliant on the consistent performance of their equipment, the significance of after-sales services and maintenance is growing. There is also increased customer awareness regarding the advantages of timely maintenance services. Regular maintenance ensures optimal performance and minimizes downtime, leading to increased productivity. Routine inspections also allow for early detection of potential safety hazards.

Focus on energy efficiency

Reflecting on the global focus on sustainability, businesses and end users are increasingly adopting eco-friendly practices and demand for energy-saving air compressor systems for their organisations. To meet these demands, companies and market players are investing in innovative technologies that lower energy consumption levels and reduce operating expenses. 

Vietnam Air Compressor Industry Segmentation

“Vietnam Air Compressor Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Stationary

• Portable

Market Breakup by Product

• Reciprocating

• Rotary/Screw

• Centrifugal

Market Breakup by Lubrication

• Oil Free

• Oil Filled

Market Breakup by Power Range

• Up To 100 kW

• 101-300 kW

• 301-500 kW

• Over 500 kW

Market Breakup by Application

• Health and Medical

• Oil and Gas

• Home Appliances

• Food and Beverage

• Manufacturing

• Energy

• Others

Market Breakup by Region

• Southeast

• Red River Delta

• Mekong River Delta

• South Central Coast

• Others

Vietnam Air Compressor Market Share

Based on application, the market is divided into health and medical, oil and gas, home appliances, food and beverage, manufacturing, and energy, among others. The manufacturing sector accounts for a major market share as air compressors are essential for providing power to pneumatic tools, controlling processes, and maintaining air quality in production environments. Additionally, manufacturers often look for reliable and efficient air compressor systems to ensure continuous operation of their production lines, resulting in a consistent air compressor demand growth.

Leading Companies in the Vietnam Air Compressor Market

The market players are introducing compact and eco-efficient energy models to gain a competitive edge in the market.

• Atlas Copco AB

• Siemens Energy AG

• Ingersoll Rand Inc.

• Hitachi Ltd. (Sullair)

• Aerzener Maschinenfabrik GmbH

• Doosan Corp.

• Mitsubishi Heavy Industries Ltd.

• ELGI Equipments Ltd.

• Denair Energy Saving Technology (Shanghai) Plc

• Kobe Steel Ltd. (Kobelco Compressors Vietnam Co., Ltd.)

• Others

Key Highlights of the Report

Vietnam Air Compressor Market Report Snapshots

Vietnam Air Compressor Market Size

Vietnam Air Compressor Market Growth

Vietnam Air Compressor Market Share

Vietnam Air Compressor Companies