Compressed Air Treatment Equipment Market Size, Dynamics, Demand and Outlook Till 2027
Market Highlights
According to MRFR analysis,
Global Compressed Air Treatment Equipment Market is
expected to register a CAGR of 6.5 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 F&B, 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 compressed air treatment equipment
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.
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Regional Analysis
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 F&B 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 compressed air treatment
equipment 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
compressed air treatment equipment 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.
Segmentation
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
compressed air treatment equipment 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 F&B 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, F&B, 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.
Key Players
Some of the key players in the global compressed
air treatment equipment market 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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