Air Audit Equipment Market to Register Steady Growth During 2017 - 2027
Air audit equipment are used by various end-use industries, such as automotive, oil & gas, food & beverages and chemical and petrochemical industries. Among these, audit equipment are highly used by the oil & gas and food & beverages industries.
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Global Air Audit Equipment Market: Dynamics
Air audit equipment reduces the annual spending and overall operation budget, which is expected to be a major factor driving the growth of air audit equipment market over the forecast period. Moreover, leakage is a significant source of wasted energy. An audit equipment can quickly identify the biggest leaks currently affecting the energy consumption. This will give traction to the growth of air audit equipment market in the near future. Furthermore, air audit equipment ensures that all the equipment are operating at peak performance, provides safety to the workers and speed up processes in production by upgrading inefficient equipment. These are the factors which will further drive the air audit equipment market during the forecast period. That apart, the different benefits of air audit equipment such as avoid purchase of new equipment and identify silent leaks will also add to the growth of market.
Lack of commercialization is expected to be a major factor hampering the growth of the air audit equipment market over the forecast period. Moreover, unfavorable economic conditions and renewable source of energy also act as a restraining factor to the growth of air audit equipment market in the near future. Furthermore, slowdown in the demand of equipment will further obstruct the growth of the market.
Global Air Audit Equipment Market: Segmentation
The global air audit equipment market can be segmented based on equipment type and end use.
By equipment type, the air audit equipment market can be segmented into:
Oil Vapor Measurement
Differential Pressure Meter
Dew Point Meter
By end use, the air audit equipment market can be segmented into:
Oil & Gas
Food & Beverage
Chemical and Petrochemical Plants
Global Air Audit Equipment Market: Region-wise Outlook
Asia Pacific will be closely followed by North America during the forecast period. Both of these markets are expected to witness immense growth in the air audit equipment market owing to rapid industrialization. Western Europe is expected to grow at a significant CAGR during the forecast period owing to high demand of air audit equipment in the growing food & beverage and chemical & petrochemical sector in the region. Latin America, in particular, is projected to witness growth in the air audit equipment market due to the expected growth in the oil & gas industry during the forecast period. Japan and Middle East and Africa are expected to support the growth of air audit equipment market over the forecast period.
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Global Air Audit Equipment Market: Participants
Examples of some of the market participants identified across the value chain of the global air audit equipment market include:
Elgi Equipments Ltd
Nessco Pressure Systems
Peerless Energy Systems
Northern Dock Systems Inc.
ANGSTROM PTE LTD
MGM Industrial Solutions
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