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Compressed air treatment equipment market for industrial sector is expected to hold majority of industry share by 2024

Author : Rahul Varpe | Published Date : 2019-05-17 

Global Compressed Air Treatment Equipment Market Report offered by Global Market Insights gives a market overview of the air treatment equipment industry which covers product scope, market revenue, opportunities, growth rate, sales volumes and figures. The report also explores the worldwide players of the market and is segmented by region, type and application with forecast to 2024.

Rapid industrial expansion in the Asia Pacific region will be one of the major factors influencing the compressed air treatment equipment market. Countries such as India, China, Japan, and Indonesia have undergone tremendous growth in the last couple of years and will display exceptional industrial development in the succeeding decade.

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Moreover, continuous improvements in the chemical & pharmaceutical industries of China and India will further propel the compressed air treatment equipment market in the forecast period.

Compressed Air Treatment Equipment Market will likely surpass USD 11 billion by 2024. Compressed Air Treatment Equipment Market will see growth barriers in the upcoming years owing to its high operational and maintenance costs. Around 70% of the of the total cost incurred is of the energy that the equipment consumes. Also, huge capital expenditure on the machineries make them less preferred for buying.

Customers tend to obtain the desired machinery on a rental basis which makes it easy for them to save the maintenance and capital cost, and also use superior and developed machinery each time. These factors may result in slower growth of compressed air treatment equipment market in the forecast spell.

More than 75% of all the industrial applications require compressed air at some point of their operating cycle. Treatment equipment is essential for every pneumatic application owing to its effects on production environment and the machinery life cycle. Compressed air treatment equipment is also used to reduce the air pressures in compressors which results in better energy conservation and improving operational efficiency.

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Considering products, aftercoolers, dryers, filters and others are the four segments of compressed air treatment equipment market. The dryers segment will hold a significant share of over USD 4 billion by 2024 to capture more than a third of the global market. These products have extensive usage in removing or reducing the amount of water in the process or instrument air.

Asia Pacific leads the compressed air treatment equipment market and is likely to surpass USD 10 billion by the end of the forecast spell owing to the presence of a large number of manufacturing as well as chemical industries. North America, led by the U.S. will grow at a stable rate of close to 5.5% in the coming years.

Key brands in the entire compressed air treatment equipment market are CompAir, Atlas Copco, Chicago Pneumatic, Kaeser Kompressoren, Ingersoll-Rand, Walker Filtration, Sullivan-Palatek, Seneca Companies, Precision Filtration Products, Norgren, Friulair, Bauer Compressors, Gardner Denver, Donaldson Company, Emerson Climate Technologies, Beko Technologies, Omega Air, and Pentair to name a few.

Related News https://www.marketwatch.com/press-release/southern-africa-renting-construction-equipment-market-2019-24-growth-forecast-by-product-application-industry-players-2019-05-17

https://www.marketwatch.com/press-release/construction-equipment-rental-market-2019-24-growth-forecast-by-product-material-industry-players-2019-05-17

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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