Feb 21, 2020   SOURCE: BusinessWire

Outlook on the Global Air Compressor Filter and Compressed Air Dryer Market (2020 to 2025) - CAGR of 7% Expected During Forecast Period - ResearchAndMarkets.com

The "Air Compressor Filter and Compressed Air Dryer Market by Product (Air Dryers (Refrigeration, Desiccant, Deliquescent, Membrane), Air Filters (Particulate, Coalescing, Compressed Intake, Activated Carbon)), Industry, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The air compressor filter and compressed air dryer market was valued at USD 5.4 billion in 2020 and is projected to reach USD 7.5 billion by 2025; it is expected to grow at a CAGR of 7.0% from 2020 to 2025.

The tremendous growth of the market can be attributed to the benefits offered by air compressor filters and compressed air dryers such as increasing need to reduce downtime and improve system efficiency, the growing use of compressed air dryers for protecting equipment against hazardous and corrosive environments, and surging demand for air compressor filters as they filter contaminants up to several microns.

Compressed air dryers accounted for larger share of air compressor filter and compressed air dryer market in 2019

Compressed air dryers have high demand in various industry verticals for the drying of the compressed air stream, as well as setting proper dew point according to prescribed standards. The demand for refrigeration dryers is expected to be high during the forecast period. The market for desiccant dryers is expected to grow at the highest CAGR from 2020 to 2025.

Automotive industry to hold major share of air compressor filter and compressed air dryer market during forecast period

The automotive industry is one of the largest revenue-generating industries in the world. The automotive industry is expected to flourish in the coming years owing to rising demand from countries such as China, the US, and Germany. Air compressor filters and compressed air dryers are fundamental to the automotive industry. Filters and dryers are used for cabin air filtration, air conditioning, spray painting, laser purging, and are used in air spindles, air bearings, air guns, and pneumatic brakes in automobiles.

North America to be largest market for air compressor filter and compressed air dryer systems during forecast period

The US is a major contributor to the North American air compressor filter and compressed air dryer market. The presence of a large number of manufacturing facilities of automotive and food & beverages industries is expected to drive the air compressor filter and compressed air dryer market in North America.

Market Dynamics

Drivers

  • Increasing Need to Reduce Downtime and Improve System Efficiency
  • Rising Demand for Compressed Air Solutions From Food & Beverages Industry
  • Growing Use of Compressed Air Dryers for Protecting Equipment Against Hazardous and Corrosive Environments
  • Surging Demand for Compressed Air Filters as They Filter Contaminants Up to Several Microns

Restraints

  • High Cost of Maintenance
  • Potential Risk of System Explosion at High Working Pressure

Opportunities

  • Increasing Use of Class 0 Air in Pharmaceutical Packaging
  • Growing Rate of Industrialization in Developing Nations

Challenges

  • Need for Extremely Controlled Environment
  • Lack of Awareness Regarding Appropriate Use and Application of Compressed Air Filters and Dryers
  • Reluctance of SMEs to Shift From Conventional Air Compression Systems to Compressed Air Systems

Company Profiles

  • Atlas Copco
  • Ingersoll-Rand
  • Parker-Hannifin
  • Mann+Hummel
  • Donaldson Company
  • SPX Flow
  • BOGE Kompressoren
  • Kaeser Kompressoren
  • Sullair
  • Sullivan-Palatek
  • Mikropor
  • Beko Technologies
  • Zeks Compressed Air Solutions
  • Van Air Systems
  • Ing.Enea Mattei SPA
  • Precision Filtration Products
  • Altec Air
  • Omega Air
  • ELGI Equipments Ltd
  • Walker Filtration

For more information about this report visit https://www.researchandmarkets.com/r/tsi7z4