Compressed Air Treatment Equipment Market | Global Synopsis & Forecast – 2030
Compressed Air Treatment Equipment Market
According
to MRFR analysis, Global Compressed Air Treatment Equipment Market is expected to register a CAGR of 7.00% from
2023 to 2030 and hold a value of USD 12.69 billion till 2030.
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.
Major Key
Players:
Global 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).
Segment Analysis
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.
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.
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