The Global Compressed Air Treatment Equipment Market is expected to reach USD 8.59 billion by 2020, according to a new study by Grand View Research, Inc. Surging demand for compressed air treatment equipment across a vast array of applications is expected to drive market growth over the forecast period. Compressed air systems are used by a large percentage of manufacturers on a global scale, which has necessitated treatment equipment installation so as to meet air quality standards suited for the target applications, and is also expected to spur market growth over the forecast period.
Several regulatory mandates and standards have been formulated to support production and utilization of clean air, which is expected to significantly contribute to the industry growth. However, delivering compressed air to manufacturing facilities requires equipment that is expensive, needs frequent maintenance and consumes significant amount of energy, which may pose a challenge to compressed air treatment equipment market growth over the forecast period. Technological proliferation and development of more energy efficient equipment across several applications provides avenues for market growth.
Further key findings from the study suggest:
- Dryers emerged as the most dominant product segment in 2013, and accounted for over 40% of the compressed air treatment equipment market in the same year. Dryers form a crucial component any compressed air equipment as they help remove moisture or water droplets effectively. Adsorber filters are also expected to witness significant growth over the next few years, which can be attributed its ability to easily remove any chemicals or gases within the compressed air.
- Process air is expected to remain a sizable application segment over the forecast period. This can be primarily attributed to the increased demand of compressed air treatment equipment across the food & beverage and pharmaceutical industry that require clean, oil-free, dry and sterile compressed air.
- North America emerged as the largest regional market in 2013, closely followed by Asia Pacific. North America accounted for over 30% of the global compressed air treatment equipment market in the same year. Presence of several manufacturing facilities is expected to fuel the regional market growth over the next six years.
- Key market players include Donaldson Company Inc, Atlas Copco Corp, Ingersoll-Rand, Gardner Denver Inc, Van Air Inc., Kaeser Compressors and Parker Hannifin Manufacturing Limited. Development of technologically advanced and cost-effective compressed air treatment equipment is expected to be a critical success factor for companies operating in this market.
Learn more Full Market Insight Details here: Compressed Air Treatment Equipment Market Report