Compressed Air Treatment Equipment Market size is forecast to arrive at USD 9.8 billion by 2022, as per a new research report by Global Market Insights, Inc. Rising implementation across various sectors such as healthcare & pharmaceutical, food & beverages and electronics & semiconductor is anticipated to fuel market demand. This equipment is chiefly used in manufacturing sectors for various tasks involved such as valve operation, vacuum, packing, cleaning and spray coating.
Air dryer market size was valued at USD 2.5 billion in 2014 and is estimated to account for a sizable chunk of the industry by 2022. This spur can be attributed to higher product price coupled with growing need across numerous application areas. Filters market size was valued at USD 2.03 billion in 2014. Particulate filters are likely to reach USD 631.3 million 2022 due to rising significance for bulk liquid separation and to eliminate solid particle contaminants down to 5 microns.
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Use of clean and dry air helps in reducing operational cost and carries out cost effective and efficient production activity. Compressed air treatment equipment market has prolific applications in the food industry owing to hygiene as well as safety concerns. Proliferating use in medical applications is likely to drive industry demand. This prevents problems caused by contaminants such as dirt, water or moisture and oil that cause damage to the production equipment such as air motors, air tools, valves, corrosion and cylinders.
Furthermore, nonexistence of these filters might cause decline in production capability, damage, reworked or spoiled products. It also helps in reducing pressure drop as well as resultant energy. High capital investment involved in installation of this equipment is likely to pose a threat to industry demand. Affluent applications of this filter in breathing air application sector are anticipated to exhibit potential opportunities to the industry.
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Key insights from the report include:
Global compressed air treatment equipment market size was valued at USD 6.03 billion in 2014 and it is expected to be valued at USD 9.8 billion by 2022 growing at a CAGR of 6.3% from 2015 to 2022.
U.S. compressed air treatment equipment market share is anticipated to grow at a CAGR of 6.1% from 2015 to 2022. The surge can be addressed to large number of production units in the region. Asia Pacific was valued at USD 1.7 billion in 2014. It is expected to attain for 30.70% of the total industry share by 2022 due to rising industrialization.
Breathing air segment accounted for 31% industry share in 2014, with growth forecast of 6.9% from 2015 to 2022. Instrument air application is projected to reach USD 2.02 billion by 2022, owing to the ability of separating water as well as dust particulates.
Compressed air treatment equipment market share is quite consolidated, with top five industry participants accumulating major industry share. Atlas was the foremost key participant in 2013. Other key industry participants include Parker Hannifin Corporation, Kaeser Compressors, Gardner Denver and Ingersoll-Rand among others.
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