Air Compressor Filter & Compressed Air Dryer Global Market Report 2023
Major players in the air compressor filter & compressed air dryer market are Beko Technologies GmbH, BOGE KOMPRESSOREN, Donaldson Company Inc., Ingersoll Rand, Kaeser Compressors Inc., Parker Hannifin Corporation, SPX Flow Inc.
New York, March 03, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Air Compressor Filter & Compressed Air Dryer Global Market Report 2023" - https://www.reportlinker.com/p06426372/?utm_source=GNW
, Sullair, Sullivan-Palatek Inc., Van Air Systems, Walker Filtration, Airfilter Engineering (AFE), Ing. Enea Mattei Spa, Mann+Hummel Gruppe, OMEGA AIR d.o.o. Ljubljana, Precision Filtration Products, and ZEKS Compressed Air Solutions.
The global air compressor filter & compressed air dryer market grew from $3.45 billion in 2022 to $3.81 billion in 2023 at a compound annual growth rate (CAGR) of 10.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The air compressor filter & compressed air dryer market is expected to grow to $5.39 billion in 2027 at a CAGR of 9.1%.
The air compressor filter & compressed air dryer market consists of sales of components such as air filters, air dryer, equipment which are used in providing air compressor filter & compressed air dryer services such as removal of mists, vapor, and other contaminants.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Air compressor filter & compressed air dryer refers to a filter used to filter impurities from atmospheric air including dust, oil and moisture, and harmful liquids to make compressed air viable for use.
North America was the largest region in the air compressor filter & compressed air dryer market in 2022. The regions covered in the air compressor filter & compressed air dryer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of products in air compressor filters & compressed air dryers are compressed air dryers and compressed air filters.Air dryers are used in air compressors to remove moisture, and prevent condensate and rust problems from occurring in the compressors.
The various applications involved are condensed water removal, oil removal, particulate removal, and others that are used for automotive, oil and gas, food and beverages, power generation, metals and machinery, pharmaceuticals, electronics, chemicals, and other industries verticals.
The increasing growth of the pharmaceutical industry is expected to propel the growth of the air compressor filter & compressed air dryer market going forward.The growth of the pharmaceutical industry refers to the discovery, development, and manufacture of drugs and medications by public and private organizations for the treatment of patients and its sales and marketing.
In pharmaceutical and bio-pharmaceuticals manufacturing facilities, higher quality of air is required so that the final product should be free of oil, water, and microorganisms.To ensure the quality of the product manufacturers are investing hugely in air filters and dryers which shows a significant growth in the air compressor filter & compressed air dryer market.
For instance, according to India Brand Equity Foundation, an India-based trust established by the Department of Commerce, the domestic pharmaceutical market in India was valued at USD 42 billion in 2021 and is projected to rise to USD 65 billion by 2024 and USD 120–130 billion by 2030. Also. the Indian pharmaceutical market saw a 13.9% growth in overall revenue in January 2022. Furthermore, according to Atradius Collections, a Germany-based full-service B2B debt collections firm, Germany produced 4.5% of the world’s pharmaceuticals in 2020. Following a 5.2% increase in 2021, the value-added output of the pharmaceutical industry is predicted to increase by 4% in 2022 and by more than 2% in 2023. Therefore, the growth of the pharmaceutical industry is driving the air compressor filter & compressed air dryer market.
Product innovations are the key trends gaining popularity in the air compressor filter & compressed air dryer market.Major companies operating in the healthcare industry are developing new technologies to sustain their position in the air compressor filter & compressed air dryer market.
For in October 2020, MARK Compressors, a US-based compressor manufacturer, introduced a piston compressor range- the Ironwind series and the Bluewind series.The new products are highly engineered innovations to enhance productivity by reducing energy consumption and offering higher uptime and reliability.
Additionally, this product are upgraded cooling system that keeps the heat emission with compact size the products are on wheels which makes them portable.
In June 2021, Xebec Adsorption Inc., a Canada-based provider of clean energy solutions acquired Tiger Filtration for a deal amount of $12.8 million (£12.0 million). With this acquisition, Xebec would get access to a dependable and highly successful aftermarket manufacturing business for elements and filters. The R&D capabilities of Tiger Filtration would enable Xebec Adsorption Inc to diversify its product line to include filtering goods for renewable natural gas and hydrogen (RNG). Tiger Filtration is a UK-based manufacturer of a comprehensive range of high-quality air-compressed filters.
The countries covered in the air compressor filter & compressed air dryer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resale either further along the supply chain or as part of other products.
The air compressor filter & compressed air dryer market research report is one of a series of new reports that provides air compressor filter & compressed air dryer market statistics, including air compressor filter & compressed air dryer industry global market size, regional shares, competitors with air compressor filter & compressed air dryer market share, detailed air compressor filter & compressed air dryer market segments, market trends, and opportunities, and any further data you may need to thrive in the air compressor filter & compressed air dryer industry. This air compressor filter & compressed air dryer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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