LOS ANGELES, April 18, 2019 (GLOBE NEWSWIRE) -- The global Compressed Air Treatment Equipment Market is forecasted to grow at a stable CAGR around 6.7% during the forecast period 2019-2026 and reach around US$ 12.13 billion by 2026.
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According to the report named "Compressed Air Treatment Equipment Market" - Global Industry Analysis, Growth, Share, Size, Trends and Forecast, 2019-2026", Compressed air treatment equipment has several advantages, such as reducing the air dew point and removing contaminants which can have an adverse consequences for the air compressor. Moreover, the system can run more efficiently and extend the service life by reducing rust and corrosion from contaminated air, thanks to its compressed air treatment equipment. The adoption of these systems has been steadily increasing, which will likely drive market growth over the period foreseen. Food manufacturers have concentrated on implementing air treatment equipment in order to prevent contamination and maintain quality, and have become increasingly concerned about food safety.
This is also an important factor that is expected to increase demand throughout the food and drink (F&B) sector. The main end-use sectors are chemicals, F&B and others. In numerous critical end-use applications, the F&B industry is expected to grow significantly as the need for dry and clean air increases. In addition, the number of F&B manufacturing companies, especially in the United States, is expected to increase in the years to come to provide market growth opportunities.
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Food & beverage emerged as the largest end-use segment in 2018
As the largest end-use segment in 2018, food & drink came into being. The growing clean air needs in numerous critical applications, such as food processing and packaging, are responsible for the demand for products in this end-use segment. The segment should continue to pursue an increase in the number of F&B manufacturers, especially in the USA. Clean rooms with zero impurities require food processing and pharmaceutical plants for the production of products. The industry standards for compressed air treatment equipment have therefore emerged. ISO8573, which aims to define a procedure for classifying the purity of compressed air, is the most common standard on the market. The integration into the air treatment system of the humidity detection sensor ensures the quality of end products. Increasing product demand is driving the overall sales for compressed air filtration product due to the above-mentioned factors in the pharmaceutical and food processing industries.
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Asia Pacific Is Expected To Exhibit the Highest Growth Followed By North America Compressed Air Treatment Equipment Market
Geographically, the global Compressed Air Treatment Equipment market has been divided into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. The highest growth is predicted in Asia Pacific and North America as the chemicals and F&B industries are rapidly expanding across these regions. Dry and clean air increases the service life of the machinery and leads to improved energy efficiency and product quality, reducing maintenance costs. In the chemical and F&B industries this is expected to boost their demand. From 2019 to 2025, Europe is expected to grow significantly. The growing demand for products throughout the medical sector is expected to give the regional market growth opportunities. In order to stimulate product demand over the projection period, the presence of strict regulation relating to the quality of compressed air used in the manufacturing processes. Additionally, there are plans to promote the regional market by increasing numbers of manufacturing installations in Eastern Europe.
Market Players
The Compressed Air Treatment Equipment market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are Parker Hannifin Corp.; Ingersoll-Rand PLC; and Gardner Denver, Inc. among others.
Some companies do vertical integration on design and production level to a large extent, although only one aspect of the value chain is the focus of most manufacturers. In addition, they focus on increasing their local and international reach to gain a competitive advantage.
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