ID: MRFR/HC/8865-HCR | February 2021 | Region: Global | 108 pages
The compressed air treatment equipment market size of USD 12 billion during the forecast period (2020-2027) at a CAGR of 7%.
Compressed air equipment is used to treat compressed air that offers several benefits like it helps to reduce the dew points of air and eliminates the contaminants which may impact the compressor. The rising use of compressed air and the development of sophisticated devices and controls are increasing the need for clean and dry air in various industries is propelling the market growth.
This compressed air is an indispensable driving agent in several industries like chemical, construction, and manufacturing that drives the conveyor systems, press, paint sprays, drills, robotic arms, and jackhammers. It is also widely used in nitrogen generation, decontamination of aeration, and drying.
Due to the rise in the prevalence rate of COVID-19, it is impacted all over the sectors drastically. Millions of people are affected by the coronavirus, few of them cause death. This pandemic is impacted not only physically on humans but also mentally and financially. Due to the continuous outbreak of COVID-19, the manufacturing industries stopped their production. So, the compressed air treatment equipment market is also directly affected. The government authorities taking few steps to protect the compressed air treatment equipment technicians in this pandemic situation. After the release of lockdowns, the compressed air treatment equipment market regains its profits.
Growing consumption of compressed air in various sectors like automotive, healthcare, food & beverages, manufacturing is one of the major driving factors of the compressed air treatment equipment market. Due to the requirement of contaminant-free air in the industries, the demand for the compressed air treatment equipment market is accelerated. This compressed-air technology helps in eliminating contaminants like oil, moisture, and dirt and protects the air system in the industries.
The rise in precision engineering machines and increasing competency among manufacturers regarding the improvement of efficiency and effectiveness of production facilities and extending the lifespan of industrial machinery are boosting the growth of the market. Rising the prevalence of chronic diseases like diabetes, cardiovascular disease, asthma, cancer, and other respiratory diseases are highly driving factors of the healthcare industry and the hospitals are needed compressed air as it is vital in few treatments.
The compressed air treatment equipment is very expensive which is hindering the market growth. As compressed air is the least energy-efficient application, it requires high operational costs
The favorable government policies regarding the compressed air treatment equipment market are the opportunity to increase the growth of the market. The increasing number of U.S FDA safety regulations along with the rising geriatric population is escalating the growth of the market. Moreover, the introduction of advanced technologies in the compressed air treatment equipment market may boost the global market.
Regular service is required for preventing compressed air losses which is limiting the growth of the compressed air treatment equipment market.
Study Objectives -
The global compressed air treatment equipment market has been divided into segments based on product, application, end-use, and region.
Based on Product
The global compressed air treatment based on the product is classified into few types such as dryers, air coolers, filters, and others. Among them, the filters segment is holding the largest market share for its features like energy-efficient, easy-to-use, protection equipment from dust, oil & water, safety, and flexibility. These filters increase the demand for the manufacturers and end-user. The dryers segment is witnessing the fastest growing market due to the growing use of dryers in refrigerators for their ability to ensure the quality of end products and provides dry air which is needed to extend the life of the compressed air equipment.
Based on Application
The global compressed air treatment equipment market by application is bifurcated into four types namely plant air/shop air, instrument air, process air, and breathing air. Out of these applications, the plant air segment holds the largest compressed air treatment equipment market share due to its requirement in various operations to prevent contamination of pipes, fittings, and supply lines. Additionally, rapid industrialization and growing awareness among consumers regarding the treatment of air analysis equipment are boosting the growth in this segment.
Process air is witnessing the fastest-growing segment due to the growing demand for process air in various industries like food production, automotive, pharmaceutical, and chemicals.
Based on End-user
The global compressed air treatment equipment market based on the end-user is categorized into few types as food & beverage, chemicals, pharmaceuticals, and others. Out of these segments, the pharmaceuticals segment is dominating the largest market share due to the increasing number of pharmaceuticals companies using the compressor, air dryers, for cleaning and purifying the air to clean and purify the products sterile, aerated and clean during the manufacture, storing, and transport are rising the growth of the market.
Based on Region
Regionally, the compressed air treatment equipment market is divided into four main geographies like Asia-Pacific, Europe, America, and the Middle East & Africa. Out of these regions, America is holding the largest compressed air treatment equipment market share due to the presence of major market players, well-established, industrial, and healthcare sectors.
Regional Analysis -
Geographically, the compressed air treatment equipment market based on the regions is segmented into four major regions like Asia-Pacific, Europe, America, and the Middle East & Africa. Out of these regions, America is dominating the largest market share due to the well-established, industrial, and healthcare sectors, presence of major market players, established regulatory standards for compressed air treatment.
Due to the expanding chemical and F&B industries, a growing number of food processing industries, rapid urbanization, and the presence of emerging market players like Chicago Pneumatic (India) and Gem Equipment’s Limited (India) are making the Asia-Pacific compressed air treatment equipment market grow witnessed the fastest-growing region. Europe compressed air treatment equipment market growth due to the presence of significant regulatory scenarios for the British Compressed Air Society equipment, rising manufacturing activities, and investment in air purification by the end-use industries.
The prominent key players in the compressed air treatment equipment market outlook are the following:
In March 2020, one of the prominent key players, Gardner Denver Holdings, Inc. (US) decided to acquire Ingersoll Rand’s (Ireland) industrial segment. By this acquisition, Ingersoll Rand benefitted the operating with four segments like industrial technologies and sciences, high-pressure solutions, precision, and science technologies, and specialty vehicle technologies.
In March 2018, a famous enterpriser, Atlas Copco announced the acquisition of the UK manufacturer of the equipment, Walker Filtration Ltd which is used for the treatment of compressed air, gas, and vacuum.
This global compressed air treatment equipment market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the compressed air treatment equipment market drivers, restraints, challenges, and opportunities. The compressed air treatment equipment market forecast segments are product, application, end-use, and region.
Globally, the compressed air treatment equipment market trends have been segmented based on the product, application, end-use, and region.
Dryers, air coolers, filters, and others.
Plant air/shop air, instrument air, process air, and breathing air are the three applications of the market.
Food & beverage, chemicals, pharmaceuticals, and others.
Asia-Pacific, Europe, North America, and the rest of the world are the four main geographies included in the compressed air treatment equipment market.
|Market Size||2027: USD 12.5 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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|