New York, US, May 31, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “Compressed Air Treatment Equipment Market Research Report Information by Region, Product, and Application- Forecast Till 2030”, the industrial boiler market is predicted to grow substantially over the assessment timeframe from 2022 to 2030 at a healthy CAGR of around 7.00%. The reports even share predictions regarding the market's growing revenue share, which is likely to attain a market of USD 12.69 billion by the end of 2030. As per the study documents, the market was worth around USD 7.9 billion in 2022.
Compressed Air Treatment Equipment Industry Overview:
The global Compressed Air Treatment Equipment industry has advanced enormously. The primary aspect causing a surge in the performance of the market is the rising need for contaminant and moisture control in critical operational processes.
Competitive Analysis
The catalog of the top leaders across the global Market for Compressed Air Treatment Equipment includes players such as:
- Atlas Copco Corporation (Sweden)
- Precision Filtration Products (U.S.)
- Airfilter Engineering (Malaysia)
- Pentair plc. (U.S.)
- Alpha Pure (U.S.)
- Pneumatech, Inc. (US)
- Beko Technologies (Germany)
- Industrial Air Power (IAP) (U.K.)
- BOGE Compressors (Germany)
- Kaeser Compressors, Inc. (U.S.)
- Chicago Pneumatic (India)
- Gem Equipment's Ltd (India)
- Donaldson Company, Inc. (U.S.)
- Seneca Companies, Inc.(US)
- Gardner Denver (U.S.)
- Sullivan-Palatek, Inc. (U.S.)
- Hitachi Ltd (Japan)
- Van Air Systems (U.S.)
- Among others.
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Compressed Air Treatment Equipment Market USP Covered
Market Drivers
The global Compressed Air Treatment Equipment market has advanced enormously in recent years. The primary aspect causing a surge in the performance of the market is the rising need for contaminant and moisture control in critical operational processes. Furthermore, the increased compressed air treatment equipment usage, presence of moisture & other contaminants, rise in demand for effective air compressors, and launch of new technologies are also projected to impact the market's growth positively.
Market Restraints
However, some aspects may limit the market's performance. The main aspect limiting the market's development is the high costs linked.
Report Scope:
| Report Metrics | Details |
| Market Size 2030 | 2030: USD 12.69 billion |
| CAGR during 2022-2030 | 7% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application, and Region |
| Key Market Opportunities | The increasing demand for compressed air treatment equipment from numerous applications. |
| Key Market Dynamics | The rise in the demand for effective compressed air treatment equipment |
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Compressed Air Treatment Equipment Market COVID-19 Impact
The global health hazard of COVID-19 has impacted most industry operations in the last few years. The health emergency affected the industry operations and tremendously impacted public health in nearly 225 nations. The Compressed Air Treatment Equipment industry was no exception to this. The supply chain disruptions and partial or complete lockdowns around various regions worldwide led to several disruptions in market operations. However, with the rapid recovery of the global economy, the market is predicted to showcase substantial development over the review era.
Compressed Air Treatment Equipment Market Segment Analysis
Among all the product types, the filter segment secured the leading position across the global Compressed Air Treatment Equipment market in 2022. The filter segment is easy to use, energy-efficient, and has safety and flexibility. Furthermore, the availability of high-performance filters that help lower pressure loss by nearly 40% - 50% positively impacts the market growth. On the other hand, the dryers segment is anticipated to ensure the maximum growth rate over the coming years, given their growing use in various end-user industries. Dryers remove water vapor in various industrial applications, such as semiconductor manufacturing, food processing & packaging, and paper, chemical, and pharmaceutical drugs.
Among all the application areas, the process air category secured the leading position across the global Compressed Air Treatment Equipment market in 2022. The main parameter supporting the segment's growth is its high adoption in various operational processes, such as baghouse discharge systems, chemical reactions, logistics, and wind tunnels. On the other hand, the instrument air segment is anticipated to ensure maximum growth over the coming years, given the growing demand for compressed air treatment equipment across pharmaceutical and food processing enterprises.
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Compressed Air Treatment Equipment Market Regional Analysis
The global market for Compressed Air Treatment Equipment is analyzed across five major parts: Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
The research documents by MRFR indicate that the North American region carried the top position across the global Compressed Air Treatment Equipment industry in 2021, with the largest contribution of nearly USD 3.62 billion. The regional market is anticipated to show substantial growth over the assessment period. The region has Mexico, Canada, and the U.S. as the leading development contributors. Further, the U.S. Compressed Air Treatment Equipment Market held the largest market share, and Canada was the fastest-growing market in the North American Region. The main aspect supporting regional market expansion is that it is the expansion of machine life & enhances product quality. Furthermore, lowering maintenance prices is also considered to be one of the crucial parameters enhancing the performance of the regional market over the coming years.
The Asia-pacific Region is anticipated to ensure the second spot across the global compressed air treatment equipment market over the assessment period. India, China, and Indonesia are the leading development contributors in the region. Further, the China Compressed Air Treatment Equipment Market held the largest market share, and India was the fastest-growing market in the Asia-pacific Region. The main aspect supporting regional market expansion is the growing use of modern automation technology in various production units.
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The European Region is anticipated to secure a significant position across the global Compressed Air Treatment Equipment industry over the coming years. The region has France, Germany, and the U.K. as the leading development contributors. Further, the German Compressed Air Treatment Equipment Market held the largest market share, and the U.K. was the fastest-growing market in Europe. The main aspect supporting regional market expansion is the availability of leading manufacturers. Furthermore, the rapid enhancement in pharmaceutical, industrial, and other end-use sectors is also likely to impact the regional market performance over the coming years positively.
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