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Compressed Air Treatment Equipment Global Market Analysis Development Trends, Industry Growth Opportunities, Regional Demand and Forecast 2024-2033
Compressed Air Treatment Equipment Global Market
The compressed air treatment equipment market size is expected to see strong growth in the next few years. It will grow to $12.44 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to industrialization and manufacturing growth, rising manufacturing activities, stringent emission standards, growing healthcare sector, awareness of energy efficiency. Major trends in the forecast period include increased adoption of energy-efficient solutions, rising focus on smart and connected devices, stringent regulatory standards driving innovation, focus on customization for diverse applications, hybrid and integrated filtration technologies.
Market Overview -
Compressed air treatment equipment refers to a pneumatic device that converts power into potential energy stored in pressurized air. It is used to provide the purity of compressed air needed for the application by removing any unwanted contamination.
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Healthcare And Pharmaceuticals Fuel Growth Expanding Sectors Drive The Compressed Air Treatment Equipment Market
The expansion of the healthcare and pharmaceutical sectors is expected to propel the growth of the compressed air treatment equipment market going forward. The healthcare and pharmaceutical sectors refer to businesses that provide healthcare services, make medical products, provide medical insurance, or manufacture drugs and medications. Compressed air treatment equipment is used in healthcare and pharmaceuticals to keep patients breathing and comfortable while supplying clean and dry air. Most healthcare institutions use purified compressed air, which removes impurities and makes products safer. For instance, in September 2022, according to a report released by Zippia Inc., a US-based online recruiting service provider, the US pharmaceutical sector is expected to produce $550 billion in yearly revenue in 2021. In addition, the pharmaceutical industry anticipates spending $635 billion on drugs by 2025. The GDP proportion of healthcare in the United States, which was 18.3% in 2021, is expected to climb over time. Therefore, expanding the healthcare and pharmaceutical sectors is driving the growth of the compressed air treatment equipment market.
Competitive Landscape -
Major companies operating in the compressed air treatment equipment market report are Atlas Copco AB, Airfilter Engineering Corporation, BEKO Technologies Corporation, BOGE KOMPRESSOREN Otto Boge GmbH & Co. KG, Chicago Pneumatic Tool Company, Ingersoll-Rand Company Limited, MANN+HUMMEL International GmbH & Co. KG, Kaeser Compressors Inc., Alpha-Pure Corporation, Donaldson Company Inc., Parker Hannifin Corporation, Gardner Denver Holdings Inc., Pentair Engineered Filtration, Seneca Companies Inc., Precision Filtration Products, ZEKS Compressed Air Solutions Inc., CompAir Holdings Ltd., Emerson Climate Technologies Inc., Great Lakes Air Products Inc., Walker Filtration, Wilkerson Corporation, Ing. Enea Mattei SpA, Werther International, Brehob Corporation, Central Air Compressor, Aircel Corporation, Sanmina Corporation, SPX Flow Inc., Metro Air Compressor, Pneumatech Air/Gas Purity Equipment Co. Ltd. .
Innovative Solutions For Enhanced Air Quality
Product innovation is a key trend gaining popularity in the compressed air treatment equipment market. Major companies operating in compressed air treatment equipment are focused on developing innovative solutions to strengthen their position in the market. For instance, in May 2021, Parker Hannifin Corporation., a US-based manufacturing company, launched its new product, the 'PPD series sortable desiccant compressed air dryers' which is a range of comprehensive compressed air treatment systems. The uniqueness of this product is that it is equipped with multiple stages of filtration and a twin-tower adsorption dryer. It sets the international standard for compressed air quality, and these highly engineered systems are designed with two coalescing pre-filters to ensure clean, dry air.
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Key Segments -
The compressed air treatment equipment market covered in this report is segmented -
1) By Product: Filters, Dryers, Aftercoolers
2) By Application: Plant Air, Instrument Air, Process Air, Breathing Air
3) By End User: Chemical, Food And Beverage, Healthcare, Pharmaceuticals, Automotive, Other End users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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