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Compressed Air Treatment Equipment Market
Compressed Air Treatment Equipment Market size was valued at $8.95 billion in 2021, and is projected to reach $15.30 billion by 2031, growing at a CAGR of 5.5%.
WILMINGTON, DELAWARE, UNITED STATES, April 15, 2024 /EINPresswire / -- Compressed Air Treatment Equipment Market by Product type (Filters, Dryers, Aftercooler), by Application (Plant Air, Instrument Air, Process Air, Breathing Air), by End User Industry (Chemical, Food and Beverage, Healthcare, Pharmaceuticals, Automotive, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031."According to the report, the global compressed air treatment equipment industry generated $8.95 billion in 2021, and is estimated to reach $15.30 billion by 2031, witnessing a CAGR of 5.5% from 2022 to 2031. The report offers a detailed analysis of the changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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Drivers and Opportunities
Growth in manufacturing, chemical, and construction sectors where clean and dry compressed air is used to drive conveyor systems, robotic arms, press, paint sprays, drills, & jackhammer, increase in demand for compressed medical air in other end-use industries such as paper, automotive, healthcare and food & beverages, growing applications of compressed air in processes such as nitrogen production, cleaning of an area, aeration, and drying, rise in precision engineering, surge in manufacturing competency to enhance productivity, and rise in efficiency and effectiveness of production facilities and machineries drive the growth of the global compressed air treatment equipment market. However, high cost associated with compressed air treatment hinder the market growth. On the other hand, rise in industrialization and increase in research and development (R&D) activities to launch novel air compressors present new opportunities in the market in the coming years.
Covid-19 Scenario
The COVID-19 pandemic had a negative impact on the global trade, economy, finance and human health.
Production of various products in the compressed air treatment equipment market came to a halt due to lockdowns and other stringent laws laid down by governments.
However, the pandemic now receding with the introduction of affective vaccines for COVID-19 and companies in the compressed air treatment equipment industry are reopening at their full-scale capacities, thereby helping the market to recover gradually.
In addition, equipment & machinery producers must focus on safeguarding their staff, operations, and supply chains to cater to urgent emergencies and introduce new ways of working.
The dryers segment to hold the lion's share during the forecast period
Based on product type, the dryers segment contributed to nearly three-fifths of the global compressed air treatment equipment market in 2021, and is expected to maintain a noteworthy growth during the forecast period. The growing penetration of the advanced technologies such as IoT and RFID in industries like food & retail, semiconductor, and pharmaceutical is driving the growth of the dryers in air compression treatment equipment market. On the other hand, the filter segment is projected to witness the fastest CAGR of 6.8% from 2022 to 2031. The sales of dust filter are growing in developing countries like the U.S., China, South Africa and India, owing to the growing urbanization and industrial developments.
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The food and beverage segment to maintain its leadership status during the forecast period
Based on end user, the food and beverage segment accounted for the largest market share of more than one-third of the global compressed air treatment equipment market in 2021 and is likely to maintain its leadership role during the forecast period. Air compressors are widely used to automate food and beverage production, from evenly filling pastries to peeling vegetables, to boost output and cut waste, which drives the segment. However, the healthcare segment is expected to register the highest CAGR of 7.0% during the forecast period. Air compressors used in the medical industry generally produce low vibrations and offer noise-free and oil-free lubrication, owing to their high quality and efficient compression capabilities.
Asia-Pacific to maintain its dominance in 2031
Based on region, Asia-Pacific held the highest market share in 2021, accounting for nearly two-fifths of the global compressed air treatment equipment market, and is expected to maintain its dominance during the forecast period. Moreover, the same segment is projected to manifest the fastest CAGR of 6.7% during the forecast period. This is due to the ongoing investments in the chemical and healthcare sectors in China and India. Furthermore, the Asia-Pacific region is projected to witness an increase in the adoption of compressed air treatment equipment due to development in healthcare, chemical and automotive industries.
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Leading Market Players
Airfilter Engineering, Alpha-Pure Corporation, BEKO Technologies, BOGE Compressors, Brehob Corporation, Central Air Compressor, Donaldson Company Inc., GEM Equipment's Ltd., Ingersoll Rand, Kaeser Kompressoren, MANN+HUMMEL, Mattei, Metro Air Compressor, Parker Hannifin Corp., Pentair Engineered Filtration, Quincy Compressors, Werther International
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