San Francisco, Nov. 17, 2015 (GLOBE NEWSWIRE) -- Global Compressed Air Treatment Equipment Market is projected to reach USD 8.59 billion by 2020, as per a new research report by Radiant Insights, Inc. Growing implementation of this equipment in various industry sectors such as healthcare & pharmaceutical, food & beverages and electronics & semiconductor is anticipated to fuel market demand. This equipment is majorly used in manufacturing sector for several tasks such as vacuum, valve operation, packing, spray coating and cleaning.
Dryers were valued at USD 2,407.7 million in 2013. It is estimated to hold majority of the industry share by 2020. The spur can be attributed to higher product price coupled with growing need across numerous application areas. Filters were valued at USD 1,871.0 million in 2013. Particulate filters are likely to reach USD 555.5 million 2020 owing to growing significance for bulk liquid separation as well as to remove solid particle contaminants down to 5 microns.
Use of clean and dry air helps in reducing operational cost and carries out cost effective and efficient production activity. Compressed air treatment equipment is widely used in food industry owing to hygiene as well as safety concerns. Proliferating use of this equipment in medical sector is likely to drive industry demand. It prevents harms caused by contaminants such as oil, dirt, moisture or water that causes damage to the production equipment such as air tools, air motors, valves, cylinders and corrosion.
In addition, absence of these filters cause reduction in production activity and might lead to damaged, spoiled or reworked products accompanied by increased manufacturing cost. It also aids in reducing pressure drop as well as resultant energy. Huge capital investment involved in installation of this equipment is likely to pose a challenge to industry growth. Flourishing application of this filter in breathing air applications is anticipated to provide potential opportunities to the compressed air treatment equipment market
Browse Full Research Report With TOC On "Compressed Air Treatment Equipment Market Size, Share, Report, 2020" at : http://www.radiantinsights.com/research/compressed-air-treatment-equipment-market
Key report insights suggest:
- Global compressed air treatment equipment market was sized at USD 5.56 billion in 2013 and it is expected to be valued at USD 8.59 billion by 2020 growing at over 6% from 2014 to 2020.
- North America held major market share in 2013. It is anticipated to grow at a CAGR of 6.3% from 2014 to 2020. The surge can be addressed to large number of production units in the region. Asia Pacific was valued at USD 1,791.4 million in 2013. It is expected to account for 33.52% of the overall industry share by 2020 owing to growing industrialization.
- Breathing air application accounted for 31.29% of the overall industry share in 2013 and is likely to grow at a CAGR of 7.1% over the forecast period. Instrument air application is projected to reach USD 1,768.7 million owing to its ability of separating water as well as dust particulates.
- The compressed air treatment equipment industry is concentrated and encapsulates top five industry participants accumulating major industry share. Atlas Copco dominated the overall market in 2013. Key industry participants include Kaeser Compressors, Parker Hannifin Corporation, Ingersoll-Rand and Gardner Denver among others.
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Global Compressed Air Treatment Equipment Product Overview (Revenue, USD Million, 2012 - 2020)
- Particulate filter/pre-filter
- Coalescing filter/oil removal
- Adsorber filter/oil vapor removal
- Filtered centrifugal separator
- High temperature afterfilters
- Moisture separators
- Refrigerated dryers
- Desiccant air dryers
- Membrane dryers
- Deliquescent dryers
Global Compressed Air Treatment Equipment Application Overview (Revenue, USD Million, 2012 - 2020)
- Plant air/shop Air
- Instrument Air
- Process Air
- Breathing Ai
Global Compressed Air Treatment Equipment Regional Overview (Revenue, USD Million, 2012 - 2020)
- North America
- Asia Pacific
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About Radiant Insights
Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy.Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.
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Source: Radiant Insights