The global compressed air treatment equipment market size is projected to grow at a healthy CAGR of 6.3 % during the forecast period (from 2016 to 2024). It may surpass USD 11 billion by 2024. Surging demand for compressed air treatment systems across various applications is projected to drive the market. Compressed air treatment systems are utilized by a number of companies globally. This in turn has increased the number of air treatment equipment installations worldwide. The need for such installations arises from the strict implementation of air quality standards in the target application areas. This could boost the global market in the forthcoming years.
A number of regulatory standards and mandates have been created to support the production & use of clean air. Industry trends suggest that this could contribute significantly to global demand. However, the uninterrupted supply of compressed air production facilities calls for regular maintenance. Equipments for compressed air treatment are generally quite expensive. Furthermore, their energy consumption is also very high. These are a few factors that may hinder the demand for compressed air treatment equipment in the years to come. However, technological advancements and the popularity of energy efficient equipment across numerous applications can create avenues for further growth.
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The global Compressed Air Treatment Equipment Market is divided into applications, products, and regions. The product segment includes dryers, filters, aftercoolers, and others. Different kinds of dryers include deliquescent dryers, desiccant air dryers, refrigerated dryers, and membrane dryers. Moisture separators, particulate filter/pre-filter, adsorber filter/oil vapor removal, coalescing filter/oil removal, high-temperature afterfilters, and filtered centrifugal separator are the various kinds of filters that are commonly used in the industry.
Dryers are expected to dominate the product segment during the forecast period. They are an essential part of any air compressor equipment since they effectively remove moisture & water droplets present in the system. The adsorber filters segment may also witness significant growth from 2016 to 2024. This owes to the ability of these filters to easily siphon any gases or chemicals present in the compressed air.
As per applications, the Compressed Air Treatment Equipment Market is segmented into process air, plant air, breathing air, and instrument air. The demand for process air is likely to remain strong throughout the forecast period. Its key end users are food & beverages and pharmaceutical industries that need dry, oil-free, and sterile air. Medical compressed air is applied extensively in the healthcare sector in areas, such as assisted respiration. Hence, demand from the breathing air application segment could propel the global Compressed Air Treatment Equipment Market in the near future.
Based on regions, the global industry was dominated by North America in 2013. The presence of a large number of manufacturing facilities in the region (especially the U.S.) can spur regional growth from 2016 to 2024. Asia Pacific is poised to be the second largest market, on account of rapid industrialization and focus on energy efficiency.
Prominent players in the Compressed Air Treatment Equipment Market are Parker Hannifin Manufacturing Ltd.; Donaldson Company Inc.; Gardner Denver Inc.; Atlas Copco Corp.; Van Air Inc.; and Kaeser Compressors. The development of cost-effective & technically advanced compressed air treatment systems is a key determinant of market success for these companies.