According to Acumen Research and Consulting, the global Compressed Air Treatment Equipment market size is estimated to grow at CAGR above 6.7 % over the forecast time frame and reach the market value around USD 12.13 billion.
Clean air is essential for the proper functioning of industrial equipment in order to be a successful compressed air system. However, the compressor contains both particles and contaminants from the compressor itself in the surrounding atmosphere. These contaminants damage the end-use equipment, which decreases their lifetime. Therefore, in a number of end-use applications, quality of compressed air is of prime importance. In the forecast years, this will promote market growth.
These treatments enhance the performance and reliability of the end-use machines while reducing CO2 emissions, energy and operational costs in order to deliver maximum production operating times. This has led to the increasing adoption of products in several end users industries, including chemical, food & drink, automotive, and aerospace & defense industries. The unprocessed air contains many harmful pollutants that need to be removed or reduced to acceptable standards in order to provide a safe and economical food and beverage production facility.
In the UK, for example a Code of Practice for Food Grade Compressed Air (COF) has been developed together, representing the British Compressed Air Society (BCAS), the governing body for compressed air (CBC) and the British Retail Consortium (BRC) which represent a vendor industry. The above standards and regulations are expected to increase demand over the forecast period for compressed air treatment equipment in the food and beverage industry.
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Not nur through the compression process, but more importantly through the process of conveying treated air before it can be used for the application concerned, the quality of compressed air is determined. Compressed air treatment is thus seen as an intelligent choice for compressors because the machinery not only protects end-use machinery from all types of contaminants, but also improves the efficiency and lifespan by reducing corrosion and rust.
The Dryers and Filters Segments Together Accounted For Over 55% Of The Total Revenue Share In 2018
In 2018, the dryers and filters combined made more than 60% of the total sales share and became the leading product segments. The filters segment are projected to gain traction over the forecast period because they are energy efficient, easy-to-use and offer safety and flexibility. In addition, the proceeds are expected to boost sector growth in the coming years through the availability of high performance filters that reduce pressure loss by approximately 40-5 %.
The dominant segment in 2018 was Refrigerated air dryers. Refrigerated dryers work according to the condensing principle by cooling compressed air through a cooling system. In many industrial applications such as chemical, food processing & packaging, paper, semiconduction manufacturing and pharmaceutical dryers, these dryers are used to eliminate water vapor. In addition, several dental and surgical equipment are also used in the healthcare sector.
The dryer segment was a significant market share in 2018 and the most rapid CAGR over the forecast period is expected to be 7.5 %. Water vapor on compressed air systems causes corrosion, premature failure, problems in quality controls, frozen air lines, and a number of other operational problems in heavy industrial operations. Desiccating drier treatments cleans the compressed air and work with the industry air compressor by absorbing moisture.
Regional Outlook
The fastest-growing chemical and F&B industries in these areas are expected to produce Asia Pacific and North America. Dry and clean air prolongs the equipment's life and leads to improved energy efficiency and product quality, thus reducing maintenance costs. In chemical and F&B industries this is expected to boost their demand.
Key Participants
The Compressed Air Treatment Equipment market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are Parker Hannifin Corp.; Ingersoll-Rand PLC; and Gardner Denver, Inc.among others.
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