Industry Overview
Global compressed air treatment equipment market size is anticipated
to exceed USD 8,590 million by 2020, growing at a CAGR of 6% from 2014
to 2020. Compressed air contains contaminants and lacks quality required
by various intended applications. The industry is expected to witness
significant growth owing to growing demand from numerous application
areas.
After coolers were valued over USD 870 million in 2013,and it is
likely to be valued at USD 1,391.9 million by 2020. In highly equipped
facility such as production unit, compressed air plays a crucial role.
Activities namely spray coating, valve operation, and vacuum, packing
and cleaning need sterile compressed air. Clean and dry air aids in
reduction of operational cost. In addition, it also facilitates in
maintaining efficient as well as cost effective production.
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Industries such as food & beverages and pharmaceuticals are
expected to fuel the industry demand owing to requirement of contaminant
free air. Escalating need from industries such as food, healthcare
& pharmaceutical and electronics & semiconductor are likely to
propel the compressed air treatment equipment market demand.
These equipments help in avoiding contaminants such as oil, dirt,
moisture or water and thus protects air system. Furthermore, absence of
these filters in compressed air systems ultimately leads to inefficient
production processes, damaged, spoiled or reworked products, reduced
production efficiency, and increased manufacturing costs. This equipment
helps in reducing the risk of loss of production and ensures reliable
aspects of operating a pressurized system. It also exhibit high impacts
in improving manufacturing processes reduce plant noise and energy
optimization.
Production of high air quality requires additional air treatment
equipment which makes the overall system expensive. High initial capital
investment involved in installation of such equipment is estimated to
hamper the industry growth. Growing demand of this equipment in
industries sector requiring clean, oil-free, dry and sterile compresded
air is projected to furnish significant growth opportunities.
Product Overview
Dryers accounted for over 40% of the overall market share in 2013. It
is estimated to dominate the industry owing to increasing demand in
food, pharmaceutical and chemical industries. It is likely to reach USD
3,530 million by 2020. Filters are expected to witness highest growth in
the industry. Particulate filters were valued at USD 362.4 million in
2013. It is forecast to grow at a CAGR of over 6% from 2014 to 2020
owing to its increasing usage in bulk liquid separation applications.
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Application Overview
Breathing air was valued at USD 1,740 million in 2013. It is expected
to grow at a CAGR of over 7% during the next few years due to
flourishing applications in diving as well as hospitals. Instrument air
application accounted for 20.11% of the overall compressed air treatment
equipment market share in 2013. It is likely to reach USD 1,760 million
by 2020. The growth can be attributed to its property of separating
water and dust particles that might cause serious quality issues.
Regional Overview
North America compressed air treatment equipment market accounted for
35% of the overall industry in 2013. It is anticipated to dominate the
industry. It is expected to be valued over USD 3,000 million by 2020
owing to the presence of a large number of manufacturing facilities in
the region.
Asia Pacific compressed air treatment equipment market is estimated
to record highest growth rate and is projected to be valued over USD
2,800 million by 2020. The surge in demand can be addressed to rapid
industrialization and urbanization.
Competitive Market Share
Compressed air treatment equipment market share is fairly
consolidated by top five industry players, accounting for more than 60%
of the overall industry share in 2013. Atlas Copco accounted for over
20% of the overall industry share in 2013. Key industry participants
involved are Kaeser Compressors, Parker Hannifin Corporation,
Ingersoll-Rand and Gardner Denver among others
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