The Compressed Air Treatment Equipment by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Compressed Air Treatment Equipment, The compressed air treatment equipment market size has grown strongly in recent years. It will grow from $8.84 billion in 2023 to $9.48 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to industrial growth, quality and compliance standards, energy efficiency, maintenance requirements, environmental concerns
The compressed air treatment equipment market size is expected to see strong growth in the next few years. It will grow to $12.44 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to industrialization and manufacturing growth, rising manufacturing activities, stringent emission standards, growing healthcare sector, awareness of energy efficiency. Major trends in the forecast period include increased adoption of energy-efficient solutions, rising focus on smart and connected devices, stringent regulatory standards driving innovation, focus on customization for diverse applications, hybrid and integrated filtration technologies
The expansion of the healthcare and pharmaceutical sectors is expected to propel the growth of the compressed air treatment equipment market going forward. The healthcare and pharmaceutical sectors refer to businesses that provide healthcare services, make medical products, provide medical insurance, or manufacture drugs and medications. Compressed air treatment equipment is used in healthcare and pharmaceuticals to keep patients breathing and comfortable while supplying clean and dry air. Most healthcare institutions use purified compressed air, which removes impurities and makes products safer. For instance, in September 2022, according to a report released by Zippia Inc., a US-based online recruiting service provider, the US pharmaceutical sector is expected to produce $550 billion in yearly revenue in 2021. In addition, the pharmaceutical industry anticipates spending $635 billion on drugs by 2025. The GDP proportion of healthcare in the United States, which was 18.3% in 2021, is expected to climb over time. Therefore, expanding the healthcare and pharmaceutical sectors is driving the growth of the compressed air treatment equipment market.
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The compressed air treatment equipment market covered in this report is segmented –
1) By Product: Filters, Dryers, Aftercoolers
2) By Application: Plant Air, Instrument Air, Process Air, Breathing Air
3) By End User: Chemical, Food And Beverage, Healthcare, Pharmaceuticals, Automotive, Other End users
Product innovation is a key trend gaining popularity in the compressed air treatment equipment market. Major companies operating in compressed air treatment equipment are focused on developing innovative solutions to strengthen their position in the market. For instance, in May 2021, Parker Hannifin Corporation., a US-based manufacturing company, launched its new product, the ‘PPD series sortable desiccant compressed air dryers’ which is a range of comprehensive compressed air treatment systems. The uniqueness of this product is that it is equipped with multiple stages of filtration and a twin-tower adsorption dryer. It sets the international standard for compressed air quality, and these highly engineered systems are designed with two coalescing pre-filters to ensure clean, dry air.
The compressed air treatment equipment market report table of contents includes:
1. Executive Summary
2. Compressed Air Treatment Equipment Market Characteristics
3. Compressed Air Treatment Equipment Market Trends And Strategies
4. Compressed Air Treatment Equipment Market – Macro Economic Scenario
5. Global Compressed Air Treatment Equipment Market Size and Growth
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26. South America Compressed Air Treatment Equipment Market
27. Brazil Compressed Air Treatment Equipment Market
28. Middle East Compressed Air Treatment Equipment Market
29. Africa Compressed Air Treatment Equipment Market
30. Compressed Air Treatment Equipment Market Competitive Landscape And Company Profiles
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