Compressed Air Filtration And Dryer System Market Report, Size, Share, Trends, Analysis And Forecast To 2032
The compressed air filtration and dryer system market is predicted to grow at a moderate CAGR of 6% during the forecast period. The compressed air filtration and dryer system market is likely to reach nearly US$ 9.8 Bn by 2032 from US$ 5 Bn in 2021.
Compressed air dryers have grown in popularity in recent years as a result of their numerous applications in a variety of industries, including healthcare and medicine. In recent years, producers have increased their manufacturing capacity using refrigeration systems to meet expanding demand.
Chronic diseases such as asthma, cardiovascular disease, diabetes, cancer, and other respiratory disorders are on the rise in the United States, Europe, and Asia, driving the healthcare business.
The expanding number of FDA safety rules in the United States, along with an aging population, is pushing the demand for compressed air filters and medical air. Hospitals rely significantly on compressed air since it is essential for a wide range of crucial end-uses, i.e., any problem with compressed air quality or delivery can threaten the patient’s safety and health.
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Compressed air systems utilised in this industry must meet a variety of legislative criteria as a result of these considerations, making them important.
Product demand may be hampered by high costs connected with compressed air treatment equipment throughout the projection period. Furthermore, compressed air is one of the least energy-efficient applications, resulting in exorbitant operating expenses. In the short run, timely checks and frequent maintenance to ensure maximum efficiency may also help to decrease demand.
The compressed air filtration and dryer system market’s progress is aided by the strong forecast of the automotive, healthcare, and food and beverage sectors.
In all sectors, compressed air production is one of the costliest auxiliary functions. The most important components of compressed air systems are compressed air filters and dryers. These systems are extremely sensitive to their surroundings.
The efficiency, output, and working life of compressed air filters and dryers can be affected by changes in cabin temperature, energy supply, and air feed. Failure to maintain the system temperature at the appropriate level in high-pressure workplace conditions can result in a system explosion.
Furthermore, it is difficult for end users to maintain an exceedingly controlled atmosphere in order for compressed air filters and dryers to perform properly.
To function at peak efficiency and avoid unplanned downtime, compressed air filters and dryers require routine maintenance. Inadequate maintenance can lead to higher operating temperatures, incorrect moisture control, and increased contamination as a result of reduced filtration performance, air leakage, or pressure variations.
Regular maintenance is required for air compressors, refrigeration systems, and related equipment such as filters and dryers. Maintenance that is neglected may result in increased energy, service, and replacement expenses.
As per the global compressed air filtration and dryer system market study, maintenance costs account for about 12% of the total cost of an air compressor system over its lifetime. As a result, after purchasing such equipment, end users must factor in maintenance and repair costs.
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- Demand from China is expected to boost revenue in the Asia Pacific compressed air treatment equipment market, which is expected to increase at a rate of over 6% through 2027.
- Because compressed air is required in a wide range of industrial applications, China’s global leadership in automobile and industrial production is having a significant impact on the whole market.
- The compressed air filtration and dryer system market size in the healthcare industry is expected to exceed USD 1 billion by 2020. The market demand is being fueled by the increasing use of compressed air treatment systems in the medical compressed air sector.
- The prevalence of humidity and other impurities in the process air is expected to drive a 4.5 percent CAGR in-process air from 2021 to 2027, which could have severe implications for plants.
- Due to its widespread use to remove or reduce the amount of water from compressed air, compressed air dryers are expected to account for roughly 35 percent of the compressed air filtration and dryer system market share in 2027.
To gain a competitive advantage, market players are continually engaging in regional expansion through partnerships, joint ventures, and mergers and acquisitions. Elgi Compressors USA, Inc. opened a new headquarters in Europe in September 2019, demonstrating the company’s strong expansion in the region.
The office was created with the goal of fostering collaboration and innovation in the local compressed air filtration and dryer system market.
Atlas Copco, Gardner Denver, Ingersoll Rand, Kaeser, Emerson Climate Technologies, Donaldson, Mann+Hummel, and Parker Hannifin are among the leading compressed air treatment equipment manufacturers.