Compressed
Air Treatment Equipment Market study is providing you with the up-to-date,
actionable market information and projections with the latest impact of the
Covid 19 outbreak. It offers all the requisite data to support tactical
business decisions and come up with strategic growth plans. This study also
proposes a comprehensive insight into the development policies and plans in
addition to manufacturing processes and cost structures.
The global Compressed Air
Treatment Equipment Market is expected to value at USD 11.2 billion by 2025.
The market is subject to witness a substantial growth due to the growing
concerns related to air pollution and increasing number of application in
industrial sector. Growing awareness level among general population regarding
air quality and development of sophisticated devices in manufacturing sector is
expected to favor market growth over the next seven years. Globally, the
compressed air treatment equipment industry is predicted to grow at CAGR of 6%
in the forecast period, providing numerous opportunities for market players to
invest for research and development in the market.
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Major applications of
compressed air treatment equipment include air purification and air treatment
in various end-user industries across the globe. In addition, increasing demand
for compressed air treatment equipment from food & beverages sector for
processing application and limit contamination of food due to poor air quality
is anticipated to drive the growth of compressed air treatment equipment market
over the forecast period. Accumulation of moisture, hydrocarbon and particulate
in air can contaminate end-product during the various manufacturing activities.
Use of compressor also
contributes to the contamination of air in form of carryover and wear
particles. These factors are expected to fuel market demand over the next seven
years. However, lack of awareness among manufactures and lower maker
penetration is estimated to limit market growth over the coming years. Yet,
swift decline in the cost of compressed air treatment equipment and rising
number of promotional activities by industry players is expected to offer
future growth prospects for compressed air treatment equipment industry players
in the upcoming years.
Growing adoption of
compressed air treatment equipment for air treatment helps to maintain compressed
air system in optimized shape and removes humidity. Complete removal of
humidity from compressed air system along with highly efficient cooling ensures
low energy costs that supplements the lifecycle of tools and equipment.
Compressed air treatment equipment plays a vital role in removing residual
humidity, thus obtain dry air for several end use applications. Compressed air
treatment helps to enhance the system efficiency and prolong product lifecycle
by limiting effect of corrosion and rust.
The compressed air
treatment equipment market is broadly categorized into five major segments
based on the application type such as chemical industry, paper& paperboard
sector, food & beverages industry, pharmaceutical sector and healthcare
industry. The chemical segment is growing rapidly in the compressed air
treatment equipment industry with substantial revenue generation in the last
few years.
Growing popularity of
compressed air treatment equipment in the chemical segment is attributed to the
increasing use of compressor and to curb industrial air pollution. The food
& beverages segment has also witnessed substantial growth owing to the
growing requirement for sophisticated devices to minimize end product
contamination.
The compressed air
treatment equipment market is divided by region as North America, Europe,
Asia-Pacific, Latin America and Africa. North America has shown major growth in
recent years owing to the rise in the implementation of latest technologies in
air treatment sector, massive boom in manufacturing sector, rise in number of
research & development activities in the region and existence of
well-established infrastructure.
Asia-Pacific region is
estimated to hold major market share in compressed air treatment equipment with
massive growth in forecast period. Countries such as India, China and Singapore
are leading the Asia-Pacific market with strong economic growth, increasing
manufacturing activities, rising awareness level regarding air pollution,
stringent government laws & regulation by local governments to curb
industrial pollution, and significant investment by leading industry players
considering potential growth opportunities in the region.
The key players in the
compressed air treatment equipment industry are Parker Hannifin Co.,
Ingersoll-Rand plc, Atlas Copco Ltd., Donaldson Company, Inc., Emerson Climate
Technologies, Inc., Ingersoll-Rand plc, Parker Hannifin Co. and Gardner Denver,
Inc.
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