March 04, 2020
The research report on ‘Latin America Compressed Air Treatment Equipment Market Size By Application, Product, End-User, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2024’, which is available at MarketStudyReport.com, offers a comprehensive assessment of key industry trends and unveils growth factors for Latin America compressed air treatment equipment market.
According to the report, Latin America compressed air treatment equipment industry is presumed to cross USD 550 million by the year 2024. Favorable government regulations, increasing disposable income, and surging investments by public and private entities has enhanced the growth of automotive sector across the region, which in turn is driving the compressed air treatment equipment market in Latin America. Compressed air is extensively used in automotive industry for various applications such as air-operated robots, product finishing, breathing air, tyre inflation, plasma welding & cutting, and air tools. This factor along with increasing production of automobiles is further aiding the market expansion.
Based on the product landscape, filters segment is expected to record substantial growth during the estimated timeframe. The filters are further categorized as high temperature after filter, adsorber filter, coalescing filter, particulate filter, filtered centrifugal separator, and moisture separator. Filters are used to remove contamination and moisture from compressed air, and thus, rising adoption of the product across various end-use industries is fueling the growth of the segment.
Elaborating on the application spectrum, process air application of compressed air treatment equipment is predicted to hold 30% share of Latin America market by the year 2024. Process air is extensively used in various operational processes such as wind tunnels, baghouse discharge, chemical reactions, and logistics. Adding to this, strict government regulations regarding operational safety in the industrial sector is facilitating the business scenario.
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Citing the end-use landscape, chemical sector is expected to account for 15% share of the overall market by 2024. Growing chemical industry along with widespread use of compressed air for applications such as operating control valves & cylinders, air curtains, process air, nitrogen generation, and material handling are favoring the market outlook.
The prominent companies operating in Latin America compressed air treatment equipment industry are Pentair, Bauer Compressors, Ingersoll-Rand Plc, Aerzener Maschinenfabrik GmbH, and Atlas Copco.
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