The rising need for clean, contaminant-free, and moisture-free air in cylinders will stimulate membrane air dryers market over the years ahead. Non-processed compressed air contains a slight amount of moisture which will harm cylinders and air tools. Moisture content also affects the operational efficiency of the product, owing to which membrane air dryers are used in these tools to enhance the working efficiency and reduce contaminants. The growing requirement of processed, clean air across the medical, telecommunication, industrial, and food & beverage sectors will propel membrane air dryers industry growth. As per a report by Global Market Insights, Inc., “Worldwide Membrane Air Dryers market will surpass a revenue collection of USD 743 million by 2022 with an annual growth rate of 5.3% over the period of 2015 to 2022.”
Membrane air dryers are great energy savers as they do not run on electricity. Subject to this eco-friendly benefit, membrane air dryers market will earn lucrative gains over the next few years. Contaminated air is also likely to impair medical equipment such as dental devices. This will boost the demand for these dryers from the medical industry, which will subsequently stimulate membrane dryers market size over 2015-2022. As per reliable statistics, the medical industry will collect a revenue of more than USD 125 million by 2022 at a remarkable annual growth rate, which will also drive the development of membrane air dryers market.
U.S. membrane air dryers market size by end-use, 2012-2022 (USD Million)
Industrial applications covered more than 30% of the overall membrane air dryers market in 2014 and will generate a valuation of more than USD 250 million by 2022, growing at a CAGR of 5.2% over 2015-2022. The growth can be credited to the high demand for pneumatic equipment from the industrial sector, which requires regular air compression and purification.
The food and beverage sector contributed a revenue of USD 120 million to membrane air dryers market share in 2014 and will generate a revenue of more than USD 180 million by 2022, with an annual growth rate of 5.6% over the coming years of 2015 to 2022. The adoption of air dryers to improve air quality and avoid the entry of any kind of microbiological impurities in food will drive membrane air dryers market from the food & beverage sector.
The escalating demand for these dryers in the food & beverage sector across the Asia Pacific region will generate significant regional revenue. APAC membrane air dryers market size will collect a revenue of USD 225 million by 2022. The implementation of strict rules and regulation regarding food safety and quality will favor the product demand. India and China will be the prominent revenue contributors of the APAC region. China membrane air dryers industry is slated to register a CAGR of 6.3% over the period of 2015 to 2022.
Various norms such as the ISO8573 have been introduced to test the quality and purity factor of air. The market players are therefore, working to enhance the testing methods for unearthing various contaminants. Numerous technological improvements in the product will also influence membrane air dryers industry share noticeably over the coming timeframe. The noteworthy participants in membrane air dryers market are Gardner Denver, Parker Hannifin, Sullair, Atlas Copco, Donaldson Company, Pentair, Hankison, Ingersoll Rand Inc., and Mikropor Filters.
Taking into consideration the high permeability and flexibility benefits of the product, porous product segment of membrane air dryers market, having had a revenue of USD 400 million in 2014 and is slated to record a significant growth rate over the years ahead. This product is extensively used in air compressors to remove oil vapor and droplets.
Regionally, North America membrane air dryers industry collected a revenue of USD 175 million in 2014 and will exhibit an annual growth rate of more than 5% over the coming five years. The growing adoption of compressors across this region coupled with the compliance regarding energy efficiency will augment North America membrane air dryers market size, slated to touch USD 250 million by 2022.
Market players are adopting strategies such as mergers and acquisitions to gain remarkable profit and maintain the competitive business position. These dryers are being extensively used in myriad sectors subject to their ability to purify air, reduce pollution, and enhance operational efficiency, which will boost membrane air dryers market share significantly.