The global market for air compressor filters and compressed air dryers is embarking on an extraordinary journey towards a substantial value of US$ 10.4 billion by 2033, as projected by industry forecasts. With a robust Compound Annual Growth Rate (CAGR) of 6.1% expected from 2023 to 2033, this industry underscores its remarkable adaptability and resilience in an ever-evolving market. In the immediate future, 2023 is poised to be a significant milestone as the market is set to reach an impressive US$ 5.8 billion.
The driving force behind this surge can be attributed to the widespread utilization of air compressors across a diverse range of industries. Industries spanning manufacturing, construction, automotive, pharmaceuticals, food and beverage, and electronics heavily rely on air compressors to power essential processes. As these sectors continue to expand and evolve, the demand for high-quality compressed air grows increasingly vital, fueling the remarkable growth witnessed in the air compressor filter and compressed air dryer market.
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Driving Factors and Market Prospects for Air Compressor Filters and Compressed Air Dryers:
The global demand for air compressor filters and compressed air dryers is on the rise due to increasing industrialization worldwide. The market growth is further propelled by regulatory requirements for air quality and product safety, especially in industries such as food and beverages. The pharmaceutical sector, which requires high-quality air, also contributes significantly to the market’s growth. The need for top-notch compressed air quality to safeguard equipment and ensure efficient operations is another driving force behind the market’s expansion.
Manufacturers are focusing on energy-efficient technologies and intelligent control systems to optimize the performance of air compressor filters and compressed air dryers, thereby reducing energy consumption and operational costs. The growing trend toward automation is boosting the demand for technically advanced filters and dryers. North America’s growing industrialization and expanding manufacturing facilities present opportunities for market growth, while a focus on sustainability, recycling, and reusing compressed air is driving growth in the region.
Key Insights:
- Between 2018 and 2022, the market witnessed a demand growth with a CAGR of 7.7%.
- Compressed air filters segment is projected to experience a CAGR of 5.9% based on product type.
- The automotive sector is expected to lead the market’s growth with a CAGR of 5.7% in terms of end-use.
- North America is poised to be a promising market with a projected CAGR of 6.0%. Asia Pacific presents an opportunistic market, anticipated to achieve a CAGR of 6.0% during the forecast period.
“Growing technological innovation and increasing adoption of air compressor filters and compressed air dryers across various industries will drive the market in the forecast period. The rising global demand for compressed air dryers is expected to significantly contribute to the market’s strength,” says an FMI analyst.
Competitive Landscape:
Prominent players in the air compressor filters and compressed air dryers market include 3M Company, AAF International (American Air Filter), AEC Group, Anest Iwata Corporation, and Absolent AB, among others.
Absolent AB’s parent company, Absolent Group, has established a new company in India, Absolent Filtermist India Pvt Ltd, which will serve as a platform for sales of all Absolents and Filtermists product lines.
Sullair, dedicated to providing reliable and efficient compressed air solutions, offers a range of air compressor filters and compressed air dryers designed for various industrial applications. Sullair’s focus on innovative technologies aims to enhance filtration efficiency, reduce pressure drops, and optimize energy consumption.
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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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Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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