Compressed Air Treatment Equipment Market Overview
According to MRFR analysis, Global Compressed Air Treatment Equipment Market is expected to register a CAGR of 7% from 2020 to 2027 and hold a value of USD 12,500 Million till 2027.
Global Compressed Air Treatment Equipment Market is driven by several factors, such as high product penetration across various end-use industries such as FB, pharmaceuticals, chemicals, and others, rising demand from these industries to protect air compressors from corrosion or rust, and technological advancements in the compressed air treatment equipment are augmenting the market growth.
A lot of established and emerging market players are dominating the global market The prominent players are involved in strategic agreements, product launches, and joint ventures to sustain their market position. For instance, in May 2017, Atlas Copco (US) acquired Pressure Compressors Ltd (Brazil) and related manufacturers. The acquisition was carried out to help strengthen their presence in both countries, namely Brazil and US.
Global Compressed Air Treatment Equipment Market has been segmented into Product, Application, and End-Use.
Based on the product, the market has been segregated into filters, dryers, air coolers, and others. The filters segment is expected to gain traction over the forecast period due to its advantages, such as easy-to-use filters, energy efficiency, and provision of safety and flexibility. Furthermore, the dryers segment is expected to be the fastest-growing segment during the forecast period owing to the rise in demand for such devices.
Based on application, the global market has been classified as plant air/shop air, process air, and instrument air and breathing air. The process air application segment is expected to lead over the forecast period. This is due to the rising demand for compressed air treatment systems across a host of industries, such as pharmaceuticals and which requires a steady supply of clean oil-free compressed air. The process air segment is anticipated to be the fastest-growing segment owing to the rising use of compressed air treatment equipment for the process air application.
Based on end-use, the FB segment is expected to be the fastest-growing, and the pharmaceuticals segment held the major share of the market. The global compressed air treatment equipment market is classified as chemicals, FB, pharmaceuticals, and others. The quality of compressed air in these sectors is of utmost importance as these industries require clean air without any contamination in their operation. Increasing adoption of compressed air treatment equipment by these end-use industries and the presence of regulatory constraints are primarily driving the market growth. On the other hand, the pharmaceuticals segment held the largest share in 2019 owing to the increasing number of pharmaceutical companies using air compressors.
On regional basis, the Americas is anticipated to dominate the global compressed air treatment equipment market, owing to the factors such as increasing number of manufacturing facilities, presence of many FB and pharmaceutical companies, need for optimal energy efficiency, and new technological advancements in products being used in compressed air treatment equipment. Furthermore, regulatory standards such as the ANSI/ISA Instrument Air Standard by the Instrument Society of America equipment aid significantly in the market growth.
On the other hand, Europe is expected to hold the second position in the global market due to the favorable regulatory scenario supporting the compressed air treatment procedure and the presence of major giants in the market involved in merger acquisition, regional expansion, and new product innovation. For instance, in April 2018, Atlas Copco (Sweden) introduced Smart AIR Solutions. These are complete air or gas solutions designed to provide customers with the lowest life cycle costs for their equipment.
Asia-Pacific is anticipated to be the fastest-growing region due to increasing industrialization and urbanization, stringent regulations governing emissions and treatment of industrial effluents, and the need for achieving high efficiency with mechanical equipment and factory processes.
Furthermore, the development in the countries such as Saudi Arabia and the UAE in the Middle East Africa market is attributed to the technological development in compressed air treatment equipment being used in several end-use verticals, increasing number of manufacturing facilities, and rising demand for purified air.
Compressed Air Treatment Equipment Market players are 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).
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