Global Compressed Air Treatment Equipment Market is expected to cross USD 12.5 Billion by 2027 at a CAGR of 6.5%.
Compressed air equipment is used for air treatment, which offers several benefits such as it helps to lower dew points of air and remove contaminants that may impact the compressor. The increased use of compressed air and the development of sophisticated devices and controls have enhanced the need for clean and dry air in several industries, thus significantly increasing the demand for compressed air treatment equipment.
The rising prevalence rate of COVID-19 is projected to influence the market over the forecast period. As the coronavirus outbreak continues, companies have significantly reduced or have stopped their production. This has a direct effect on the compressed air treatment equipment. However, the government is taking necessary steps to protect technicians handling the compressed air equipment against the outbreak. For instance, on 28th July 2020, The British Compressed Air Society (BCAS) reiterated its advice to compressed air users to adhere to air treatment best practice during the COVID-19 pandemic.
The growing demand for compressed air treatment from numerous applications
- Increasing consumption of compressed air in major sectors like manufacturing, healthcare, and food & beverage (F&B), and automotive is primarily fueling the market growth. The increased demand is due to the requirement of contaminant-free air in these industries. The compressed air treatment equipment helps in avoiding contaminants such as oil, dirt, and moisture, thus protecting the air system in these industries. These factors aid in the growth of the compressed air treatment equipment market.
- Favorable government policies for compressed air treatment equipment
- Technological advancements in compressed air treatment equipment
- High operational and maintenance cost
- Huge initial capital investment is required for the establishment of compressed air treatment equipment, which is still unaffordable in many emerging countries. Also, regular service is required to prevent compressed air losses. These factors are limiting the market growth.
- Filters: The filter segment is further divided into particulate filter/pre-filter, coalescing filter/oil removal, adsorber filter/oil vapor removal, filtered centrifugal separator, high temperature after filters, and moisture separators. The filters segment held a major market share in 2019 due to its features such as easy-to-use, energy-efficient, protect equipment from dust, oil & water, safety, and flexibility. These features of filter result in rising demand from manufactures as well as end-users, thereby boosting the market growth.
- Dryers: The dryers segment is classified into refrigerated dryers, desiccant air dryers, membrane dryers, and deliquescent dryers. Increasing use of dryers in refrigerators because of their ability to ensure the quality of end products and provide dry air needed to extend the life of the compressed air equipment makes this segment the fastest growth during the forecast period.
- Air coolers: Air coolers or after air cooler are being used to cool compressed air in many end-use applications. These coolers are preferred as they are easy to install and maintain. The increasing demand for these coolers in the healthcare sector is propelling market growth.
- Others: Other products of the compressed air treatment equipment market are condensate drain valves, safety valves, and nitrogen generators.
- Plant Air/Shop Air: Plant air held the majority share in 2019 in the compressed air treatment equipment market. Plant air/shop air is an important requirement in many operations to prevent contamination of pipes, fittings, and supply lines. Moreover, rapid industrialization and rising awareness among consumers about the treatment of air are driving the growth for this segment.
- Process Air: The increasing use of compressed air as part of a process that demands a low dew point is driving the market growth for this segment. When compressed air is directly integrated as the process medium in certain methods, it is known as process air. This type of air is being used in various industries such as automotive, food production, and chemicals, among many others. Pharmaceutical industries also implement process air to manufacture and package drugs. Therefore, increasing demand for process air in these industries is fueling the market growth, making this segment fastest-growing during the assessment period.
- Instrument Air: Industrial process is being used in many end-use industry verticals to assess the number of elements that require instrument air. The instrument air being used in industries and follow globally recognized Instrument air quality standards (ANSI/ISA – S7.0.01-1996) by the Instrument Society of America. Increasing demand from industries for instrument air is expected to propel the market growth for this segment.
- Breathing Air: Increasing usage of breathing air to remove contaminants such as solid particles, moisture, oil or oil vapors, carbon monoxide, and hydrocarbons from compressed air is projected to drive this segment in the growth of the compressed air treatment equipment market.
- Chemicals: Increasing demand for compressed air treatment equipment in many chemical industries is contributing significantly to the market growth.
- Food & Beverage: This segment is expected to be the fastest-growing due to key factors such as the growing need for compressed air treatment equipment in food processing and packaging, an increasing number of food and beverage manufacturers, and rising demand for packed food by the consumers are boosting the market growth for this segment.
- Pharmaceuticals: This segment held the largest share in 2019 owing to the increasing number of pharmaceutical companies using air compressors, air dryers to clean and purify air to keep their pharmaceutical products sterile, clean, aerated, and safe during manufacturing, storage and transport are aiding the growth for this segment.
- Others: The other segment includes automotive, aerospace, electronics, etc. Increasing adoption of compressed air treatment equipment for the process of removing contaminants from machinery as well as equipment in these industries is driving the market growth for this segment.
- Americas: The Americas held the major share of the compressed air treatment equipment market in 2019. The factors attributed to the market growth in this region are well-established industrial and healthcare sectors, established regulatory standards for the treatment of compressed air, and the presence of major market players in this region involved in product launch, acquisition, and strategic collaboration. These activities have paved the way for the expansion of business and customer base for market players. For instance, in March 2020, Gardner Denver Holdings, Inc. (US) completed the acquisition of Ingersoll Rand’s (Ireland) industrial segment. With this acquisition, Ingersoll Rand started operating with four segments such as industrial technologies and services, precision and science technologies, high-pressure solutions, and specialty vehicle technologies.
- Europe: The compressed air treatment equipment market in Western European economies, such as Germany, the UK, and Sweden, is expected to grow at a high rate. The key factors contributing to the market growth are the presence of stringent regulatory scenarios for the compressed air treatment equipment by British Compressed Air Society, rising manufacturing activities, investment in air purification by the end use industries, and merger & acquisition by the market players in this region. For instance, in March 2018, Atlas Copco acquired Walker Filtration Ltd, the UK manufacturer of equipment for the treatment of compressed air, gas, and vacuum.
- Asia-Pacific: Asia-Pacific is the fastest-growing regional market owing to expanding chemical and F&B industries, rapid urbanization, rising number of food processing industries, and the presence of emerging market players such as Chicago Pneumatic (India) and Gem Equipment’s Ltd (India) are significantly contributing to the market growth in this region.
- Middle East & Africa: The rising usage of compressed air treatment equipment in the medical and pharmaceutical industry along with the food and beverage sector and the rising demand for quality and purified air with no contamination for critical applications in different end-use sector are driving the growth of the compressed air treatment equipment market in the region.
- Atlas Copco Corporation (Sweden)
- Airfilter Engineering (Malaysia)
- Alpha-Pure (US)
- Beko Technologies (Germany)
- BOGE Compressors (Germany)
- Chicago Pneumatic (India)
- Donaldson Company, Inc. (US)
- Gem Equipment’s Ltd (India)
- Industrial Air Power (IAP) (UK)
- Kaeser Compressors, Inc. (US)
- Pneumatech, Inc. (US)
- Pentair plc. (US)
- Precision Filtration Products (US)
- Seneca Companies, Inc. (US)
- Hitachi Ltd (Japan)
- Sullivan-Palatek, Inc. (US)
- Van Air Systems (US)
- Gardner Danver (US)
2027: USD 12.5 Billion
Value (USD Billion)
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Atlas Copco Corporation (Sweden), Airfilter Engineering (Malaysia), Alpha-Pure (US), Beko Technologies (India), BOGE Compressors (Germany), Chicago Pneumatic (India), Donaldson Company, Inc. (US), Gem Equipment’s Ltd (India), Industrial Air Power (IAP) (UK), Kaeser Compressors, Inc. (Germany), Pneumatech, Inc. (US), Pentair plc. (US), Precision Filtration Products (US), Seneca Companies, Inc. (US), Hitachi Ltd. (Japan), Sullivan-Palatek, Inc. (US), Van Air Systems (US), and Gardner Danver (US).
Key Market Opportunities
The growing demand for compressed air treatment from numerous applications.
Key Market Drivers
High operational and maintenance cost
This table of content is tentative and subject to change as the research progresses.
Please Note: Financial details of company cannot be provided if the information of the company is not available in public domain and or reliable source.