Demand for Compressed Air Dryers Is Anticipated To Surpass US$ 6.6 Bn By 2032-End
UNITED STATES, July 20, 2022 /EINPresswire.com/ -- According to the latest report published by Fact.MR, a market research and competitive intelligence provider, the global compressed air dryer market is estimated to surpass a market valuation of US$ 3.5 Bn in 2022, and is predicted to expand at 6.5% CAGR through 2032.East Asia and Europe have captured significant market shares of 18% and 30%, respectively. Meanwhile, the market in North America is likely to expand at a CAGR of 6.2% over the forecast period (2022-2032).
Refrigerated compressed air dryer accounted for the highest global revenue share of around 50% in 2021. Demand for desiccant / adsorption / regenerative air dryers is experiencing an exponential hike owing to their high applicability and efficiency. On the other hand, chemical compressed air dryers are presumed to witness a thump in demand and may lose market share over the coming years.
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Key Takeaways from Market Study
• Global compressed air dryer market projected to expand at CAGR of 6.5% by value during forecast period 2022 – 2032.
• Market created absolute $ opportunity of US$ 250 Mn during historic period 2017 – 2021.
• North America projected to create highest absolute $ opportunity in terms of value, which is US$ 900 Mn, during forecast period
• Aerospace & defense end-use segment projected to expand at CAGR of 7% and account for 5% market share by 2032.
• Pharmaceutical & healthcare in applications accounted for 13% compressed air dryer demand in 2021.
• Demand for refrigerated air dryers and chemical air dryers projected to grow 1.8X and 1.7X, respectively, by 2032.
Competitive Landscape: Top Companies in Compressed Air Dryer Market
Fact.MR evaluates that the compressed air dryer market is concentrated and a large share is encapsulated by tier-1 players operating at the global scale. Tier-1 compressed air dryer suppliers are focused on reliability, life expectancy, and technological advancements, whereas tier-2 manufacturers of compressed air systems are competing with competitive price points.
The global compressed air dryer industry is highly consolidated, with only a few tier-1 manufacturers controlling a large portion of the market. Focus of major players across the world is mostly on product development and distribution network expansion. Growing end-use industries are the primary driving force behind market expansion, which is expected to maintain its upward trend.
Key Companies Profiled
• Anest Iwata Corporation
• Atlas Copco
• Gardner Denver Inc
• Hitachi, Ltd
• Kaeser Kompressoren
• Parker-Hannifin Corporation
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Key Segments of Compressed Air Dryer Industry Research
• By Type:
o Refrigerated Dryers
Non-Cycling Refrigerant Dryers
Cycling Refrigerant Dryers
o Desiccant / Adsorption Dryer / Regenerative Dryers
Heatless Air Dryer
Heated Air Dryer
Heat of Compression
o Chemical Air Dryers
o Membrane Air Dryers
• By Application Sector:
o Aerospace & Defense
o Automotive
o Chemicals & Petrochemicals
o Electronics & Semiconductors
o Food & Beverages
o Industrial Machinery
Heavy Machinery & Equipment
Precision Machinery
o Metallurgy
o Oil & Gas
o Paper & Pulp
o Pharmaceuticals & Healthcare
o Power & Utility
o Others
• By Capacity:
o <500 m3/hr
o 500-2,000 m3/hr
o 2,000-4,000m3/hr
o 4,000-10,000m3/hr
o >10,000 m3/hr
• By Region:
o North America Compressed Air Dryer Market
o Latin America Compressed Air Dryer Market
o Europe Compressed Air Dryer Market
o East Asia Compressed Air Dryer Market
o South Asia & Oceania Compressed Air Dryer Market
o MEA Compressed Air Dryer Market
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Which Application Will Lead to High Sales Volumes for Compressed Air Dryer Manufacturers?
Elevated industrialization has created abundant opportunities for manufactures of compressed air dryers to increase their production volumes over the past few years. Expanding applications of air treatment systems in oil & gas and aerospace/ defense are likely over the coming years.
The industrial machinery vertical is the most attractive segment in terms of product adoption and scalability. This application is anticipated to generate a valuation of US$ 790 Mn, rising at a promising CAGR of 8% over the decade.
In addition, other applications of compressed air systems such as in-situ combustion in oil & gas industries and electronics and galley cooling, and sampling and analysis of gases in the aerospace industry are attributed to push market development of compressed air dryers and air dryer filters in the near future.
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