Compressed Air Treatment Equipment Market Growth Forecast Report to 2024 by Leading Manufacturers - Ingersoll-Rand, Parker Hannifin, Gardner Denver, Atlas Copco
The increasing number of governmental efforts undertaken with regards to food safety regulations, it is expected that the situation may witness a turnaround in the coming years, which may have a considerable impact on compressed air treatment equipment industry share. Say for instance, the European Council and Parliament, under the regulation EC 852/2004, has chalked out certain standards on food hygiene that food manufacturers need to comply with. With other regional governments likely to take cue from the aforementioned precedence, compressed air treatment equipment market outlook may soon witness a transformative change of sorts.
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Incessant product innovations by renowned giants along with a strict regulatory groundwork is certain to bring out a positive change in compressed air treatment equipment market. In addition, rapid industrialization across major economies, especially under APAC belt is expected to complement the business growth. Primarily backed by the strong pipeline of constructional projects spanning across nations like Indonesia, China, Japan, the demand for market in APAC belt is expected to upsurge in the coming years, leaving a subsequent impact on the overall industry share, which is forecast to exceed USD 11 billion by the end of 2024.
The profitability landscape of compressed air treatment equipment market is forecast to be positively high, given the extensive deployment of these products in today’s automated production units. Compressed air, rightly dubbed as 4th utility, is used as a safe and reliable power source in approximately 90% of the food companies in some aspect or the other. It is therefore of sheer importance that the quality of the air is maintained, subject to the fact that untreated air contains harmful contaminant, which if not properly processed, might as well lead to health hazards. In response to this alarming call, tech giants are continuously bringing up innovative treatment techniques, which by extension is spurring compressed air treatment equipment industry share.
Compressed Air Treatment Equipment Market by End-User:
3. Food & beverage
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As per estimates, overall compressed treatment equipment industry share from food and beverage application is expected to witness 6.5% CAGR over 2017-2024. In parallel to this, many companies are implementing ISO standard ISO22000:2005 to fully promote principles of HACCP system. The continuous development in food standardization is certain to influence compressed air treatment equipment market dynamics in terms of profitability and ROI.
Compressed air treatment equipment market is one of those burgeoning business spaces where strategic collaborations quite prudently outline the sustainability quotient of the market giants. Atlas Copco, the Swedish giant, that is claimed to constitute almost one tenth of the competitive spectrum of market, has undertaken a plethora of acquisitions over the recent years, to expand its geographical reach and product enhancement.
The latest acquisition where the Swedish conglomerate has acquired the compressor business of Glauber Equipment Corporation, has been reported to be the most fruitful deal for the organization in terms of ROI and profitability. Allegedly, through this deal, Atlas Copco got direct access to Glauber Equipment Corporation’s extensive consumer reach in compressed air treatment equipment market. Few of the other names contending a strong portfolio in competitive hierarchy of the industry include Gardner Denver, Ingersoll-Rand, Kaeser Kompressoren, Van Air, Parker Hannifin, and Donaldson Company.
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