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Air Compressor Filter & Compressed Air Dryer Market Growth, Size, Trends, Size, Share And Analysis Report 2024-2033
Air Compressor Filter & Compressed Air Dryer Market Growth
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According to The Business Research Company's, The air compressor filter & compressed air dryer market size has grown strongly in recent years. It will grow from $3.69 billion in 2023 to $3.97 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to industrialization and manufacturing growth, energy efficiency regulations, economic growth, environmental concerns, rise in electronics sector.
The air compressor filter & compressed air dryer market size is expected to see strong growth in the next few years. It will grow to $5.35 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to industry 4.0 adoption, infrastructure development, rise in automotive industry, aging equipment, rising urbanization . Major trends in the forecast period include smart and connected systems, modular and scalable solutions, nanofiber technology, remote monitoring and predictive maintenance, high-pressure air treatment.
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Market Drivers and Trends:
The increasing growth of the pharmaceutical industry is expected to propel the growth of the air compressor filter & compressed air dryer market going forward. The growth of the pharmaceutical industry refers to the discovery, development, and manufacture of drugs and medications by public and private organizations for the treatment of patients and its sales and marketing. In pharmaceutical and bio-pharmaceuticals manufacturing facilities, higher quality of air is required so that the final product should be free of oil, water, and microorganisms. To ensure the quality of the product manufacturers are investing hugely in air filters and dryers which shows a significant growth in the air compressor filter & compressed air dryer market. For instance, according to India Brand Equity Foundation, an India-based trust established by the Department of Commerce, the domestic pharmaceutical market in India was valued at USD 42 billion in 2021 and is projected to rise to USD 65 billion by 2024 and USD 120-130 billion by 2030. Also. the Indian pharmaceutical market saw a 13.9% growth in overall revenue in January 2022. Furthermore, according to Atradius Collections, a Germany-based full-service B2B debt collections firm, Germany produced 4.5% of the world's pharmaceuticals in 2020. Following a 5.2% increase in 2021, the value-added output of the pharmaceutical industry is predicted to increase by 4% in 2022 and by more than 2% in 2023. Therefore, the growth of the pharmaceutical industry is driving the growth of air compressor filter & compressed air dryer market.
Product innovations are the key trends gaining popularity in the air compressor filter & compressed air dryer market. Major companies operating in the healthcare industry are developing new technologies to sustain their position in the air compressor filter & compressed air dryer market. For in April 2023, Rotair SPA, an Italy-based company in the design, manufacture, and distribution of high-technology portable air compressors, launched its MDVN34E and MDVN32B portable air compressors. The MDVN34E electric portable air compressor was created to offer construction sites 3400 litres/min compressed air, without the use of internal combustion engines, to work in those municipalities and sites where diesel engines have been banned. The MDVN32B petrol portable air compressor offers a 40HP petrol engine variant capable of delivering 3200 litres/min at a constant 7 bar, within the Stage V parameters.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Beko Technologies GmbH, BOGE KOMPRESSOREN, Donaldson Company Inc., Ingersoll Rand, Kaeser Compressors Inc., Parker Hannifin Corporation, SPX Flow Inc., Sullair, Sullivan-Palatek Inc., Van Air Systems, Walker Filtration Limited, Airfilter Engineering (AFE), Ing. Enea Mattei Spa, Mann + Hummel Gruppe, OMEGA AIR d.o.o. Ljubljana, Precision Filtration Products, ZEKS Compressed Air Solutions., Gardner Denver, CompAir, Mattei, Sauer Compressors, Hitachi Industrial Equipment Systems Co Ltd, MTA SpA, Zander Group, Pentair, Quincy Compressors, Aircel, Deltech
Air Compressor Filter & Compressed Air Dryer Market 2024 Key Insights:
• The air compressor filter & compressed air dryer market size is expected to see strong growth in the next few years. It will grow to $5.35 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%.
• The Pharmaceutical Industry's Growth Propels Air Compressor Filter & Compressed Air Dryer Market
• Rotair Spa Launches New Mdvn34E And Mdvn32B Portable Air Compressors With Innovative Features
• North America was the largest region in the air compressor filter & compressed air dryer market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
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LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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