LONDON, July 12, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Compressed Air Treatment Equipment Global Market Report 2023, the market will grow from $8.2 billion in 2022 to $8.9 billion in 2023, at a compound annual growth rate (CAGR) of more than 7%. Further, the market will reach $11.4 billion in 2027, with a CAGR of more than 6%. Asia-Pacific held the largest share in the compressed air treatment equipment market in 2022.
One of the driving factors behind the growth of the compressed air treatment equipment industry is the expansion of the healthcare and pharmaceutical sectors. These sectors encompass businesses involved in healthcare services, medical product manufacturing, medical insurance, and drug production. In healthcare and pharmaceutical applications, compressed air treatment equipment plays a crucial role in ensuring patients' comfort and safety by supplying clean and dry air. Healthcare institutions often utilize purified compressed air to eliminate impurities and enhance the safety of their products.
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Major compressed air treatment equipment companies are Atlas Copco, Airfilter Engineering, BEKO Technologies Corp., BOGE KOMPRESSOREN Otto Boge GmbH & Co. KG, Chicago Pneumatic, Ingersoll-Rand, MANN+HUMMEL International GmbH & Co. KG, Kaeser Compressors Inc., Alpha-Pure Corporation, Donaldson Company Inc., Parker Hannifin Corporation, Gardner Denver Inc., Pentair plc., Seneca Companies Inc., Precision Filtration Products, and ZEKS Compressed Air Solutions Inc.
A key trend in the market is product innovation, which is gaining popularity among major companies. These companies are dedicated to developing innovative solutions to strengthen their market position.
For example, Parker Hannifin Corporation, a US-based manufacturing company, introduced the 'PPD series sortable desiccant compressed air dryers' in May 2021. This product is equipped with multiple stages of filtration and a twin-tower adsorption dryer, setting a new international standard for compressed air quality. Its highly engineered design includes two coalescing pre-filters, ensuring the delivery of clean and dry air.
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The global compressed air treatment equipment market is segmented as-
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
The findings and insights presented in the compressed air treatment equipment market report serve as valuable information for industry stakeholders, investors, researchers, and anyone seeking to understand and capitalize on the opportunities in the market. By providing a detailed analysis of market trends, player strategies, and regional dynamics, this report equips readers with the necessary knowledge to make informed decisions and stay ahead in this rapidly evolving market. The report serves as a crucial resource for understanding the current and future landscape of the compressed air treatment equipment market, enabling businesses to harness its growth potential and drive success in this dynamic industry.
Compressed Air Treatment Equipment Global Market Report 2023 by The Business Research Company provides insights on the compressed Air treatment equipment market size, compressed Air treatment equipment market segments, compressed Air treatment equipment market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
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