Compressed Air Dryers & Air Compressor Filters Market is projected to reach US$ 10.4 Billion, by growing at a CAGR of 6.1% by 2023 to 2033 | Data by Future Market Insights, Inc.
The air compressor filters and compressed air dryers market is anticipated to witness growth due to the rising demand for energy-efficient filters in various industries. Among these industries, the automotive sector has emerged as the largest contributor to the market, holding the largest share of the air compressor filters and compressed air dryers market.
NEWARK, Del, May 30, 2023 (GLOBE NEWSWIRE) — The global air compressor filters and compressed air dryers market is anticipated to reach US$ 5.8 billion in 2023, per a recent study by Future Market Insights. A valuation of US$ 10.4 billion is expected by 2033, representing a 6.1% CAGR.
Increasing applications of air compressor filters and compressed air dryers in manufacturing, automotive, pharmaceuticals, food and beverage, and many others, for powering pneumatic tools, equipment, and processes. Increasing application of compressed air dryers in manufacturing facilities is expected to drive the air compressor filters and compressed air dryers market growth.
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With increasing industrialization globally, the demand for air compressor filters and compressed air dryers remains high. The growing regulatory requirements for air quality and product safety in different industries like food & beverages are also expected to boost the market growth. Demand for air compressor filters and compressed air dryers is high in pharmaceuticals company owing to the need for high-quality air requirement. The demand for high-quality compressed air, along with the need to protect equipment and ensure efficient operations, fuels the growth of this market.
Manufacturers are focusing on energy-saving technologies and intelligent control systems to optimize the performance of air compressor filters and compressed air dryers, for reducing energy consumption and operating costs. The demand for technically advanced filters and dryers increases owing to the increased automation. Rising industrialization and increasing manufacturing facilities in North America are expected to provide opportunities for market growth. Increasing focus on sustainability and recycling and reusing f compressed air drives the market growth in the region.
Key Takeaways:
From 2018 to 2022, the market demand expanded at a CAGR of 7.7%
- Based on the product, the compressed air filter segment accounts for a CAGR of 5.9%.
- By end-use, the automotive segment is expected to expand at a CAGR of 5.7% during the forecast period.
- North America to emerge as a promising market, capturing a CAGR of 6.0%.
- Asia Pacific is an opportunistic market, expected to capture a CAGR of 6.0% during the forecast period.
“Growing technological innovation and increased application of air compressor filters and compressed air dryers in various end-use industries are expected to drive the market in the forecast period. The increasing demand for compressed air dryers globally is projected to play a vital role in strengthening the market,” – says an FMI analyst.
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Competitive Landscape:
Prominent players in the air compressor filters and compressed air dryers market are 3M Company; AAF International (American Air Filter); AEC Group; Anest Iwata Corporation; Absolent AB among others.
- Absolent AB’s parent company, Absolent Group, has registered a new company in India, Absolent Filtermist India Pvt Ltd, that will serve as a basis for sales of all Absolents and Filtermists product lines.
- Sullair has been dedicated to providing reliable and efficient compressed air solutions. They offer a range of air compressor filters and compressed air dryers designed for various industrial applications. Sullair has focused on developing innovative technologies to enhance filtration efficiency, reduce pressure drops, and optimize energy consumption.
Know More about What the Market Report Covers:
Future Market Insights offers an unbiased analysis of the global air compressor filters and compressed air dryers market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the air compressor filters and compressed air dryers market, the market is segmented based on product and end-use across five major regions.
Key Segmentation:
By Product:
- Compressed Air Dryer
- Air Compressor Filter
By End-Use:
- Automotive
- Oil & gas
- Chemical
- Power Generation
- Food & beverages
- Metals & Machinery
- Pharmaceuticals
- Electronics
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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Table of Content (ToC):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product, 2023 to 2033
5.4. Y-o-Y Growth Trend Analysis By Product, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Product, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-Use
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By End-Use, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By End-Use, 2023 to 2033
6.4. Y-o-Y Growth Trend Analysis By End-Use, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By End-Use, 2023 to 2033
Complete TOC: https://www.futuremarketinsights.com/toc/rep-gb-17297
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