April 28, 2021
According to the research report titled ‘Global Air compressor filter and compressed air dryer Market Size, by Product (Compressed air dryer and compressed air filters), by Application (Condensed water removal, oil removal, mist removal, and particulate removal) End-use Industries (Automotive, oil & gas, chemicals, power generation, food & beverage and others) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global air compressor filter and compressed air dryer market was appraised at USD 5.05 billion in 2019 and is projected to reach USD 8.68 billion by 2027, growing at an annual rate of 7% throughout.
Expansion of food & beverage sector is a key factor boosting global air compressor filter and compressed air dryer market. According to Statista, the United Kingdome food & beverage industry was valued at USD 8,509 million in 2020 and is speculated to reach USD 10,649 million by 2024.
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Likewise, as per India Brand Equity Foundation, Indian food processing industry was worth USD 258 billion in 2015, and grew to USD 400 billion in 2019.
For the record, compressed air filters are utilized to eliminate contaminants from air after compression is completed. Meanwhile, compressed air dryers are filter systems that remove the moisture present in compressed air. Notably, air compressor filters and compressed air dryers are used in combination with cooling equipment, peeling & cutting equipment, sorting & moving equipment, cleanliness maintenance equipment, and nitrogen generation equipment.
While increasing usage of compressed air dryers to protect equipment against corrosive and harmful environmental element will act as growth propellent, high maintenance cost hinders growth of global air compressor filter and compressed air dryer industry.
Based on application scope, the industry is classified into oil removal, mist removal, particulate removal, and condensed water removal. As per product terrain, the market is bifurcated into compressed air dryers, and compressed air filters. Moving on to end user spectrum, the industry is segregated into oil & gas, chemicals, power generation, food & beverage, automotive, and others.
Speaking of regional outlook, North America held majority of worldwide air compressor filter and compressed air dryer market share in the recent past, due to rising demand from food & beverage sector. Meanwhile, Asia Pacific market is touted to showcase lucrative growth trends over the analysis timeframe, owing to emphasis on enhancing system efficiency and decreasing downtime.
Key players profiled in the report are Sullair Corp., Mann + Hummel, Atlas Copco, Kaeser Kompressoren, SPX Flow Inc., Ingersoll-Rand plc, Donaldson Company Inc., Sullivan-Palatek Inc., Boge Kompressoren, and Parker Hannifin Corporation.