May 21, 2020
As per the report titled ‘Compressed Air Treatment Equipment Market Size By Product, By Application, By Sector, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report LLC, global compressed air treatment equipment market is projected to experience remunerative growth through 2026.
Escalating demand from manufacturing plants of various industries including food & beverage, healthcare, construction, and automotive for performing various tasks such as vacuum, filtration, valve operation, and cleaning is a major growth driver for global compressed air treatment equipment market.
Compressed air treatment is a process that dehumidifies and cleans the air before it enters the air compressor. Compressed air is an excellent medium for both storing and transmitting energy. Versatility, flexibility and better safety in comparison to other methods, along with easy usability in remote locations such as mines and construction sites are encouraging the adoption of compressed air treatment equipment.
Based on the product type, aftercoolers segment is estimated to cross USD 2 billion by the year 2026. Aftercoolers use cool water or cooler ambient air to eliminate the heat, thereby removing moisture from compressed air. Ease of use, high economic viability, and efficient method of providing contamination-free compressed air are the key factors encouraging the product penetration.
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Speaking of the application spectrum, breathing air segment is expected to witness momentous growth in the forthcoming years. Stringent regulations and standards such as ones defined by OSHA in the U.S. and CSA in Canada for the purification of compressed air for breathing are stimulating the segment growth. These standards define acceptable levels of carbon dioxide, carbon monoxide, nitrogen, oxygen, moisture, and gases in devices like breathing masks and hoods.
Elaborating on the sector, compressed air treatment equipment market share from electronics segment is predicted to register 7% CAGR throughout the forecast duration. Advancements in semiconductor manufacturing technologies and positive outlook of consumer gadget industry is supporting the segment growth.
From a geographical standpoint, Latin America compressed air treatment equipment market is estimated to surpass USD 620 million by the year 2026. Amplifying manufacturing sector owing to cost-effective labor and easy availability of raw materials is supporting the regional market expansion.
Key players in global compressed air treatment equipment market are Aircel Corporation (Aircel LLC), Chicago Pneumatic, Airfilter Engineering, Atlas Copco, Alpha-Pure Corporation, SPX FLOW, Omega Air, Great Lakes (Great Lakes Air Products, Inc.), MTA S.p.A., Elgi Compressors USA, Inc., Aerzener Maschinenfabrik GmbH, BOGE Compressors, and BEKO Technologies Corp. among others.