Press release
Global Compressed Air Dryer Market Is Slated To Surpass A Valuation Of US$ 6.6 Billion By The End Of 2032
The global COVID-19 pandemic has turned several industries upside down by causing disruptions in their daily operations and limiting the supply of raw materials, hampering production and growth.
However, with the relaxations in the government regulations and an expedited vaccination drive in countries like China, the U.S., the UK, and India, the Compressed Air Dryer Market industry is slowly picking up its pace. The manufacturers are preparing to reopen their production sites, abiding by the government regulations.
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Key Segments of Compressed Air Dryer Industry Research
By Type:
Refrigerated Dryers
Non-Cycling Refrigerant Dryers
Cycling Refrigerant Dryers
Desiccant / Adsorption Dryer / Regenerative Dryers
Heatless Air Dryer
Heated Air Dryer
Heat of Compression
Chemical Air Dryers
Membrane Air Dryers
By Application Sector:
Aerospace & Defense
Automotive
Chemicals & Petrochemicals
Electronics & Semiconductors
Food & Beverages
Industrial Machinery
Heavy Machinery & Equipment
Precision Machinery
Metallurgy
Oil & Gas
Paper & Pulp
Pharmaceuticals & Healthcare
Power & Utility
Others
By Capacity:
10,000 m3/hr
By Region:
North America Compressed Air Dryer Market
Latin America Compressed Air Dryer Market
Europe Compressed Air Dryer Market
East Asia Compressed Air Dryer Market
South Asia & Oceania Compressed Air Dryer Market
MEA Compressed Air Dryer Market
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Energy Consumption in the US is Leading to High Adoption of Compressed Air Dryer Market Systems
The US accounts for the largest share in the construction industry. The pandemic has halted many construction-related activities, which in turn has impacted the growth of the Compressed Air Dryer Market industry negatively.
However, the development in the Compressed Air Dryer Market industry is rising at a steady pace with the resumption of the construction industry. The ever-growing energy consumption in the country is also generating demand for more energy-efficient Compressed Air Dryer Market systems in the region.
Prominent players in the Compressed Air Dryer Market industry such as Honeywell Int., and new entrants such as Apple and Google NEST are also focusing on residential construction projects to bring more innovation and comfort to the residents. Such new strategies are helping the Compressed Air Dryer Market industry gradually recover from the blow of the pandemic.
Competitive Landscape: Top Companies in Compressed Air Dryer Market
Fact.MR evaluates that the compressed air dryer market is concentrated and a large share is encapsulated by tier-1 players operating at the global scale. Tier-1 compressed air dryer suppliers are focused on reliability, life expectancy, and technological advancements, whereas tier-2 manufacturers of compressed air systems are competing with competitive price points.
The global compressed air dryer industry is highly consolidated, with only a few tier-1 manufacturers controlling a large portion of the market. Focus of major players across the world is mostly on product development and distribution network expansion. Growing end-use industries are the primary driving force behind market expansion, which is expected to maintain its upward trend.
Prominent Players in Europe are Focusing on Innovative Solutions
The Compressed Air Dryer Market industry in Europe suffered a tremendous fall during the pandemic, with a lack of resources and manpower required for production. Several manufacturing units were shut to contain the virus.
The prevalence of some of the global leaders in the region such as Johnson Controls and ABB Group has provided a noteworthy boost to the market growth in this region.
The high presence of service providers, government regulations to curb electricity consumption and awareness regarding the installation of building automation systems has laid out lucrative opportunities for market growth.
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Technological Advancements are Leading Innovations in the Compressed Air Dryer Market in China
China is gradually recovering from the adverse effect of the pandemic due to its successful efforts in curbing the spread of the virus within the region. With almost negligible restrictions, the construction, heavy machinery, and automotive industry have started resuming operations.
Rising expenditure in technology and increasing emphasis on environmental safety are propelling the demand in the Compressed Air Dryer Market industry in China. The growing interest in billboard automation and industrial displays in allowing manufacturers to gradually attain their pre-pandemic status.
India is Experiencing High Adoption of Compressed Air Dryer Market Systems
The Indian Compressed Air Dryer Market industry witnessed a downfall due to the pandemic. In order to follow the safety guideline, many construction sites and manufacturing units were shut until further notice.
With the relaxation of these restrictions, the manufactures operating in the automation, engineering, and construction (AEC) industry managed to gather pace in recovery. However, the second wave of the pandemic hit the Compressed Air Dryer Market industry negatively, affecting the overall growth of the industry.
Being a fast-growing economy, global leaders are finding lucrative opportunities in the country, both in commercial and residential spaces, as the demand for multi-modal building automation is surging.
Key Long-Term Trends
The global Compressed Air Dryer Market industry is showing notable recovery in 2021 and will continue to offer opportunities for expansion to the players operating in the market. With the penetration of building automation in residential areas, the Compressed Air Dryer Market industry will show an upward trend. Some new trends that are boosting the growth in the market are:
Internet of Things (IoT)
The Internet of Things (IoT) and the Industrial Internet of Things (IIoT) are experiencing broader acceptance in the Compressed Air Dryer Market industry. The innovative technology which makes everything 'inter-connected is gaining immense popularity in both residential and commercial projects, making them technologically advanced and effective in risk management.
Edge Computing
As the number of residents increases, the data also becomes vaster. Hence, edge computing will act as a key technology in the Compressed Air Dryer Market industry. Edge computing enables data security, easy accessibility, and enhanced automation in commercial and residential buildings.
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