Membrane air dryers industry grow at over 5%+ CAGR from 2015 – 2022
The ability of these dryers to reduce dew points, increase operational proficiency, and easily remove impurities is predicted to enhance the effectiveness of compressor systems, thereby further adding to the business expansion of membrane air dryers market. These dryers also help in minimizing the production loss of compressed systems subject to their ability to improve system safety, offer minimal loss of air, and air-supply reliability. According to Global Market Insights, Inc., “Membrane air dryers industry is estimated to hit a revenue of USD 743.1 million by 2022.
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Industrial applications, which contributed for over 30% of membrane air dryers market share in 2014, will grow at a rate of 5.2% during the period of 2015 to 2022. The growing use of these dryers in pneumatic equipment is forecast to create lucrative opportunities for this segment. Membrane air dryers industry size in food & beverages sector, which was evaluated at USD 120 million in 2014, is projected to surpass USD 180 million by 2022. It is likely to grow at a rate of 5.6% over the coming five years.
Medical applications are expected to record a CAGR of 5.3% over the period of 2015-2022, and are likely to touch the revenue margin of USD 125 million by 2022. Escalating product demand in dentistry is predicted to boost the revenue. Membrane air dryers industry in telecommunication sector is foreseen to witness a surge over the coming timeframe, owing to the product ability to prevent rusting and improve network connectivity.
Taking into consideration regional trends, Asia Pacific membrane air dryers industry is likely to hit a revenue of USD 225 million by 2022, stimulated by the high product acceptance across compressed air treatment systems and the food & beverage sector. China membrane air dryers market is slated to record substantial gains of 6.3% over 2015-2022. India market, worth USD 16 million in 2014, is set to reach USD 25 million by 2022.
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North America membrane air dryers market revenue, evaluated at USD 175 million in 2014, is projected to surpass USD 250 million by 2022, growing at a CAGR of 5% over 2015-2022. Major industry players of the region are preferring compressed air to save energy, thereby driving the demand for the product. Europe membrane air dryers industry is expected to grow at an annual rate of 4.5% over the coming five years. It is slated to hit a targeted revenue margin of USD 160 million by 2022.
Non-porous and porous are the major membrane air dryers products. Non-porous membrane air dryers industry is projected to cross a revenue of USD 135 million by 2022, driven by its property to efficiently permeate moisture. Porous membrane air dryers market, worth USD 400 million in 2014, is forecast to hit USD 600 million by 2022, subject to its various beneficial features such as high-permeability and flexibility.
Key industry participants include Atlas Copco, Ingersoll-Rand Plc, Sullair, Walmec S.p.A., Donaldson Company, Parker Hannifin Corporation, Gardner Denver, Pentair Plc, and Graco.
Browse key industry insights spread across 102 pages with 49 market data tables & 52 figures & charts from the report, “Membrane Air Dryers Market Size By End-Use (Food & Beverage, Industrial, Medical, Telecommunication), By Product (Porous, Non-Porous), Industry Outlook Report, Regional Analysis, Application Potential, Price Trends, Competitive Market Share & Forecast, 2015 – 2022” in detail along with the table of contents:
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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