North America to dominate the Compressed air treatment equipment industry demand by 2022
North America Compressed air treatment equipment market is expected to continue growth over the projected period. Asia Pacific compressed air treatment equipment market, especially in India and China is predicted to register highest gains.
Compressed air treatment equipment market size is forecast to register significant growth and surpass USD 9.8 billion at a growing CAGR of more than 6% from 2015 to 2022. Escalating demand from various application areas is poised to spur growth in the near future. Compressed air systems are widely adopted by the majority of manufacturers globally including electronics and semiconductors, healthcare and pharmaceutical, food and beverages, etc.
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This is likely to further the market demand. This equipment is mostly used in manufacturing sectors for numerous tasks involved like vacuum, valve operation, cleaning, spray coating and packing. This necessitates treatment equipment system to meet air quality standards appropriate for the target applications. Clean and dry air helps in lowering operational cost and efficient production activity. Hygiene and safety are prime concerns in food and medical industry.
Proliferation of this system in both these sectors is likely to impel the demand growth. The system inhibits problems due to contaminants like oil, dirt, moisture or water that can result into damage to the production equipment like air tools, air motors, cylinders and valves. In addition to this, absence of these filters might lead to damage, decline in production capability, spoiled products, etc. the system also aids in lowering pressure drop and resultant energy.
The installation of this system involves high capital investment. Moreover, the system consumes considerable amount of energy and needs regular maintenance. This is likely to hamper the market growth. The technology advancement and advent of more energy efficient equipment across various applications is likely to open new avenues for market growth.
Breathing air application sector with its affluent applications is poised to witness latent opportunities in the near future owing to surge in diving and medical sectors. Several standards and regulations formulated to promote production and use of clean air are anticipated to influence the industry growth positively.
Dryers’ market size is projected to hit USD 4 billion during the forecast period. Filters market is expected to grow with maximum gains in the industry. Particulate filter is poised to witness growth at a CAGR of over 6.5% in the near future.
North America market is expected to continue growth over the projected period. Asia Pacific compressed air treatment equipment market, especially in India and China is predicted to register highest gains.
Fairly consolidated Compressed air treatment equipment market is topped by five industry players. Atlas Copco, Parker Hannifin Corporation, Gardner Denver, Ingersoll-Rand and Kaeser Compressors are the major players in the industry.
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Posted by
Chetan Channe
on Monday December 19 2016, 10:47 AM EST.
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