March 04, 2020
According to the research report titled ‘Europe Compressed Air Treatment Equipment Market Size By Product, End-User, Application, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2024’, available with Market Study Report LLC, Europe compressed air treatment equipment market is expected to surpass USD 3.7 billion by the year 2024.
According to the report, factors such as rising capita per income, economic improvement, and growing population have led to rapid expansion of food & beverage industry, which in turn is a major factor driving the compressed air treatment equipment market in Europe. Compressed air treatment equipment facilitates in providing high quality air in food & beverage industry during cleaning and packaging processes. This factor along with growing demand for packaged food and beverages is further augmenting the market expansion in Europe.
As per the product type, dryers market segment is expected to record substantial growth during the projected timeframe. Refrigerated dryers offer low maintenance & operating cost and hence are extensively used across various industries, whereas desiccant dryers are used to absorb water vapor from air stream of high pressure. Though high initial cost of desiccant dryers may hinder the product adoption, however rising adoption of dryers in numerous end-user industries will favor the growth of the segment.
Based on the application spectrum, plant air application of compressed air treatment equipment in Europe is presumed to expand with a CAGR of 5% during 2019-2024. Contaminant-free, clean, and dry compressed air helps in reducing the operational cost and improves the efficiency of manufacturing processes. This factor along with strict government regulations to maintain air quality has impelled the demand for compressed air treatment equipment across Europe, thereby stimulating the industry outlook.
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Citing the end use landscape, Europe compressed air treatment equipment market from electronics industry is expected to garner USD 300 million by the year 2024. The need for maintaining contaminant free environment while producing electronic and semiconductor parts is bolstering the demand for compressed air treatment equipment in the electronics industry, hence aiding Europe market scenario.
Emerson Climate Technologies, Inc., Beko Technologies Corp., Aerzener Maschinenfabrik GmbH, Atlas Copco, and Airfilter Engineering are the prominent companies operating in Europe compressed air treatment equipment industry.
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