Thriving Global Market for Air Compressor Filters and Compressed Air Dryers: Expected to Reach US$ 10.4 Billion by 2033

The worldwide market for air compressor filters and compressed air dryers, which achieved a valuation of US$ 5.4 billion in 2022, is poised for sustained growth throughout the assessment period. This sustained demand is attributed to the increasing adoption of these systems across diverse industries. With a projected surge to US$ 10.4 billion by 2033, the market is on track to achieve a remarkable Compound Annual Growth Rate (CAGR) of 6.1% from 2023 to 2033. Expected to secure US$ 5.8 billion in 2023, the market showcases robust growth potential.

Air compressors play a pivotal role across a range of industries, providing compressed air for powering pneumatic tools, equipment, and manufacturing processes. The air compressor filter and compressed air dryers market is anticipated to reach a valuation of US$ 10.4 billion by the conclusion of the forecast period in 2033.

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Driving Factors and Market Prospects for Air Compressor Filters and Compressed Air Dryers

The global demand for air compressor filters and compressed air dryers is on the rise due to increasing industrialization worldwide. The market growth is further propelled by regulatory requirements for air quality and product safety, especially in industries such as food and beverages. The pharmaceutical sector, which requires high-quality air, also contributes significantly to the market's growth. The need for top-notch compressed air quality to safeguard equipment and ensure efficient operations is another driving force behind the market's expansion.

Manufacturers are focusing on energy-efficient technologies and intelligent control systems to optimize the performance of air compressor filters and compressed air dryers, thereby reducing energy consumption and operational costs. The growing trend toward automation is boosting the demand for technically advanced filters and dryers. North America's growing industrialization and expanding manufacturing facilities present opportunities for market growth, while a focus on sustainability, recycling, and reusing compressed air is driving growth in the region.

Key Insights:

Between 2018 and 2022, the market witnessed a demand growth with a CAGR of 7.7%.
Compressed air filters segment is projected to experience a CAGR of 5.9% based on product type.
The automotive sector is expected to lead the market's growth with a CAGR of 5.7% in terms of end-use.
North America is poised to be a promising market with a projected CAGR of 6.0%. Asia Pacific presents an opportunistic market, anticipated to achieve a CAGR of 6.0% during the forecast period.
"Growing technological innovation and increasing adoption of air compressor filters and compressed air dryers across various industries will drive the market in the forecast period. The rising global demand for compressed air dryers is expected to significantly contribute to the market's strength," says an FMI analyst.

Competitive Landscape:

Prominent players in the air compressor filters and compressed air dryers market include 3M Company, AAF International (American Air Filter), AEC Group, Anest Iwata Corporation, and Absolent AB, among others.

Absolent AB's parent company, Absolent Group, has established a new company in India, Absolent Filtermist India Pvt Ltd, which will serve as a platform for sales of all Absolents and Filtermists product lines.

Sullair, dedicated to providing reliable and efficient compressed air solutions, offers a range of air compressor filters and compressed air dryers designed for various industrial applications. Sullair's focus on innovative technologies aims to enhance filtration efficiency, reduce pressure drops, and optimize energy consumption.

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Know More about What the Market Report Covers:

Future Market Insights offers an unbiased analysis of the global air compressor filters and compressed air dryers market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the air compressor filters and compressed air dryers market, the market is segmented based on product and end-use across five major regions.

Key Segmentation:

By Product:
Compressed Air Dryer
Air Compressor Filter

By End-Use:
Automotive
Oil & gas
Chemical
Power Generation
Food & beverages
Metals & Machinery
Pharmaceuticals
Electronics
Others

By Region:
North America
Latin America
Europe
Asia Pacific
Middle East and Africa

About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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This release was published on openPR.