Compressed Air Filter and Dryer Market Size, Share, Statistics and Industry Growth Analysis Report by Product Type (Air Dryer (Refrigeration, Desiccant, Deliquescent, Membrane), Air Filter (Particulate, Coalescing, Compressed Intake, Activated Carbon)), Industry, Region – Global Forecast to 2028
Updated on : September 16, 2024
Compressed Air Filter and Dryer Market Size & Growth
[243 Pages Report] The global Compressed Air Filter and Dryer Market Size is estimated to be valued USD 5.6 Billion in 2023 and is anticipated to reach USD 7.4 Billion by 2028, at a CAGR of 5.8% during the forecast period. The growth is ascribed to emerging trends in compressed air filter and dryer industry.
Compressed Air Filter and Dryer Market Forecast to 2028
To know about the assumptions considered for the study, Request for Free Sample Report
Compressed Air Filter and Dryer Market Trends
Driver: Surging demand for compressed air solutions in oil & gas exploration and production
The oil & gas industry heavily relies on compressed air for essential operations, including drilling, extraction, transportation, and refining. Compressed air acts as a power source for drilling equipment, aids in fluid lifting in wells, controls downhole pressure, and operates valves in pipeline systems. It is also crucial for maintaining safety in combustion processes and supporting pneumatic control systems in refining and petrochemical operations.
Compressed air solutions are vital for ensuring the reliability and safety of compressed air systems used within the oil & gas industry. The expansion of the industry into new regions and exploration of unconventional resources are fueling the need for air treatment equipment. Furthermore, the commitment of industry players to reducing emissions and environmental impact underscores the significance of efficient and clean compressed air systems, fostering the adoption of advanced filtration and drying technologies tailored to address specific challenges.
The high reliance of the oil & gas exploration and production sector's heavy reliance on compressed air for critical functions, coupled with its dedication to safety, adherence to environmental standards, and pursuit of operational efficiency, plays a substantial role in driving the growth of the compressed air filter and dryer market.
Restraint: Requirement for periodic maintenance
Compressed air filters and dryers require periodic maintenance to operate efficiently and minimize unscheduled downtime. This upkeep involves regular tasks such as filter element replacements, thorough checks and cleanings of components, as well as comprehensive system inspections. Neglecting these maintenance routines can lead to increased energy consumption due to decreased filtration efficiency, air leaks, and pressure inconsistencies, ultimately causing elevated operating temperatures, inadequate moisture control, and excessive contamination.
Failure to prioritize maintenance can result in escalated energy usage, heightened repair costs, and the need for premature equipment replacements. According to Energy Star Data, approximately 12% of the overall lifetime cost of an air compressor system is allocated to maintenance and repair expenses. Considering maintenance implications, some companies may opt for air treatment equipment that requires less frequent maintenance, even if it means a slight compromise in performance.
Opportunity: Increasing adoption of advance technologies and growing industrialization in developing nations
Industry 4.0 serves as a digital nexus connecting machines, systems, and personnel within production facilities. Industries are progressively integrating advanced technologies and robotics to optimize their manufacturing processes. Developing economies such as India, Saudi Arabia, the UAE, Brazil, South Africa, and Thailand are experiencing notable industrial growth, positioning themselves as emerging global manufacturing hubs. These nations offer favorable business environments that enable companies to curtail operational costs, thereby creating lucrative opportunities for participants in the compressed air filter and dryer market to identify potential clients and expand their production capacities.
The demand for reliable and efficient compressed air systems is rising with the expansion of different industries. Compressed air systems are integral to various industrial processes, from manufacturing to aerospace, and play a crucial role in maintaining production efficiency and ensuring compliance with air quality regulations. As industrialization continues to surge, the necessity for advanced air treatment solutions persists, aimed at augmenting operational efficiency, ensuring regulatory compliance, and catering to the evolving demands of different sectors.
Challenge: Lack of knowledge for proper utilization and maintenance of compressed air filters and dryers
Compressed air filters and dryers play a crucial role in meeting the demand for clean, moisture-free compressed air across various industries. However, it is essential to possess a certain level of understanding to effectively utilize them in specific end-use sectors. Most customers are unaware of the right type of compressed air filter or dryer for their needs and end up choosing systems that are not adequately sized or equipped to handle the specific contaminants or moisture levels present in their compressed air supply. Inappropriate selection can result in inefficiencies, compromised air quality, and increased operational costs. This, in turn, can potentially shorten the lifespan of air compressors and hinder the attainment of the necessary levels of compressed air purity necessary for diverse applications.
Inadequate knowledge about proper installation procedures may result in errors that impact the overall performance of the system. Incorrectly installed filters and dryers might not function optimally, allowing contaminants or moisture to pass through, thereby posing risks to downstream equipment or products. Furthermore, users unaware of the necessary maintenance practices might neglect routine checks, filter replacements, or dryer servicing. Over time, this can lead to reduced system efficiency, increased energy consumption, and even system breakdowns. Education and training initiatives are crucial to mitigate this challenge, with manufacturers and industry associations playing a key role in raising awareness and providing guidance to ensure these systems operate effectively and efficiently.
Compressed Air Filters and Dryers Market Ecosystem
Compressed Air Filter and Dryer Market Share
Atlas Copco, Ingersoll Rand, PARKER HANNIFIN CORP, Pentair, and Donaldson Company, Inc. are the top players in the compressed air filter and dryer market. These compressed air filter and dryer companies with advance technology trends with a comprehensive product portfolio and solid geographic footprint.
Compressed air dryers segment accounted for the largest share of compressed air filter and dryer market in 2022
The compressed air filter and dryer market share has been segmented into product type compressed air dryers and compressed air filters. Compressed air dryer is further sub-segmented into four types of dryers rfrigeration dryers, desiccant/adsorption dryers, deliquescent dryers, and membrane dryers. Compressed air dryer segment accounted for the largest share throught the forecast period.
Compressed air dryers extract moisture moisture from compressed air, protect equipment from corrosion and harm, and maintain product quality in industries such as food, pharmaceuticals, and electronics. They enhance process efficiency by enabling seamless operation in activities like painting and packaging and contribute to energy efficiency by facilitating the smoother compression of air.
Food & beverages industry to grow at a highest CAGR during the forecast period.
The food & beverages industry requires reliable compressed air systems predominantly for two applications: storage and transport. The compressed air in these systems should be free from all types of contaminants. The presence of moisture in compressed air is one of the major concerns associated with the compressed air systems used in the food industry. Compressed air is also used in food packaging and food processing industries in machines that fill products such as cakes, pies, and liquid products, as well as during the packaging and transportation of snacks, vegetables, soda, and other items. This creates the need for compressed air that is free of moisture and other contaminants to ensure the protection of the food products. Compressed air filters and dryers are used in the food & beverages industry to lower the dew point of air to -15° F and provide high-quality compressed air, which is expected to increase their demand.
Compressed Air Filter and Dryer Market Regional Analysis
Asia Pacific region to grow at a highest CAGR during the forecast period.
This market in Asia Pacific is further divided into China, Japan, India, and Rest of Asia Pacific. The Asia Pacific, led by China, Japan, and India , is considered the largest market for compressed air filters and dryers. Rapid urbanization and industrialization are driving the growth of manufacturing industries in countries such as China and India, which is expected to create demand for compressed air filters and dryers in the region. Automotive, chemicals, and power generation industries are the key contributors to the compressed air filter and dryer market growth in this region.
Compressed Air Filter and Dryer Market Statistics by Region
To know about the assumptions considered for the study, download the pdf brochure
Top Compressed Air Filter and Dryer Companies: Key players
The major companies in the compressed air filter and dryer companies are Atlas Copco, Ingersoll Rand, PARKER HANNIFIN CORP, Pentair, Donaldson Company, Inc., BOGE, Hitachi Global Air Power US, LLC., SPX FLOW and others. These companies have used both organic and inorganic growth strategies, such as product launches, acquisitions, and partnerships to strengthen their position in the compressed air filter and dryer market.
Compressed Air Filter and Dryer Market Report Scope
|
Report Metric |
Details |
|
Estimated Market Size in 2023 |
USD 5.6 Billion |
|
Projected Market Size in 2028 |
USD 7.4 Billion |
|
Growth Rate |
CAGR of 5.8% |
|
Market size available for years |
2019—2028 |
|
Base year |
2022 |
|
Forecast period |
2023—2028 |
|
Forecast Units |
USD Millions/USD Billions and Million Units |
|
Segments Covered |
Product Type, Industry, and Region |
|
Geographic regions covered |
North America, Asia Pacific, Europe, and Rest of the World |
|
Companies covered |
Atlas Copco (Sweden), Ingersoll Rand (US), PARKER HANNIFIN CORP (US), Pentair (UK), and Donaldson Company, Inc. (US). A total of 25 players are covered. |
Compressed Air Filter and Dryer Market Size Highlights
In this report, the overall compressed air filter and dryer market has been segmented based on Product Type, Industry, and Region.
|
Segment |
Subsegment |
|
Compressed Air Filter and Dryer Market Size By Product Type |
|
|
By Industry |
|
|
Compressed Air Filter and Dryer Market Size By Region |
|
Recent Developments
- In May 2023, Atlas Copco has acquired Maziak Compressor Services Ltd. (UK) distributor of air compressors, nitrogen generators and process cooling equipment as well as related services and support. This Acquisition will become part of the Service division within Atlas Copco’s Compressor Technique Business Area.
- In January 2023, Donaldson Company, Inc. introduced Managed Filtration Services, an industry-leading consultative, comprehensive and connected solution for industrial filtration customers. With Donaldson iCue Managed Filtration Services, company monitor the equipment with smart technology, help ensure it is performing optimally, and provide busy customers with the services and maintenance they need.
- In January 2023, Donaldson Company, Inc. introduced Torit® Downflo® Ambient (DFA) weld fume extractor that gives fabricators the ability to weld in a variety of different workstation configurations. This new collector provides a complementary solution to a challenging problem: effective weld fume extraction without duct work or hoods.
Frequently Asked Questions (FAQs) :
What will be the global compressed air filter and dryer market size in 2023?
The compressed air filter and dryer market is expected to be valued USD 5.6 billion in 2023.
Who are the global compressed air filter and dryer market winners?
Companies such as Atlas Copco, Ingersoll Rand, PARKER HANNIFIN CORP, Pentair, Donaldson Company, Inc. fall under the winners’ category.
Which region is expected to hold the highest global compressed air filter and dryer market share?
North America will dominate the global compressed air filter and dryer market in 2023.
What are the major drivers of the compressed air filter and dryer market?
Increasing use of compressed air systems in various industrial processes to enhance productivity and Rising demand for compressed air solutions in food & beverage industry
What are the major strategies adopted by compressed air filter and dryer companies?
The companies have adopted product launches, acquisitions, expansions, and contracts to strengthen their position in the market.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
The study involves four major activities that estimate the size of the compressed air filter and dryer market. Exhaustive secondary research was conducted to collect information related to the market. Following this was validating these findings, assumptions, and sizing with the industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the overall size of the compressed air filter and dryer market. Subsequently, market breakdown and data triangulation procedures were used to determine the extent of different segments and subsegments of the market.
Secondary Research:
Secondary sources in this research study include corporate filings (such as annual reports, investor presentations, and financial statements); trade, business, and professional associations; white papers, certified publications, articles from recognized authors; directories; and databases. The secondary data were collected and analyzed to estimate the overall market size, further validated by primary research. The relevant data is collected from various secondary sources, it is analyzed to extract insights and information relevant to the market research objectives. This analysis has involved summarizing the data, identifying trends, and drawing conclusions based on the available information.
Primary Research
In the primary research process, numerous sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information about this report. The primary sources from the supply-side included various industry experts such as Chief X Officers (CXOs), Vice Presidents (VPs), and Directors from business development, marketing, product development/innovation teams, and related key executives from compressed air filter and dryer providers, (such as Atlas Copco, Ingersoll Rand, PARKER HANNIFIN CORP, Pentair, Donaldson Company, Inc., BOGE, Hitachi Global Air Power US, LLC.) research organizations, distributors, professional and managed service providers, industry associations, and key opinion leaders. Approximately 25% of the primary interviews were conducted with the demand side and 75% with the supply side. These data were collected mainly through questionnaires, emails, and telephonic interviews, accounting for 80% of the primary interviews.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
In the market engineering process, both top-down and bottom-up approaches were implemented, along with several data triangulation methods, to estimate and validate the size of the compressed air filter and dryer market and other dependent submarkets listed in this report.
- The key players in the industry and markets were identified through extensive secondary research.
- Both the supply chain of the industry and the market size, in terms of value, were determined through primary and secondary research.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
Market Size Estimation Methodology-Bottom-up Approach
Co-packaged optics market: Top-down Approach
Data Triangulation
After estimating the overall market size, the total market was split into several segments. The market breakdown and data triangulation procedures were employed wherever applicable to complete the overall market engineering process and gauge exact statistics for all segments. The data were triangulated by studying various factors and trends from both the demand and supply sides. The market was also validated using both top-down and bottom-up approaches.
Market Definition
Compressed air filters filter suspended particulate impurities, water solvents, and oil-soluble impurities from a compressed air stream, while compressed air dryers maintain the dryness of compressed air at different temperatures throughout a compressed air system by separating water vapor or moisture from industrial processed air. A compressed air system needs filters and dryers to produce ultra-pure and dry compressed air for use in industries such as automotive, oil & gas, metals & machinery, pharmaceuticals, electronics, and chemicals for different applications.
The compressed air filter and dryer ecosystem includes various manufacturers and providers. The market is diversified, with more than 25 companies competing across the value chain to sustain their position in the market and increase their market share.
Stakeholders
- Government bodies and policymakers
- Industry organizations, forums, alliances, and associations
- Market research and consulting firms
- Raw material suppliers and distributors
- Research institutes and organizations
- Manufacturers and distributors of compressed air filters and dryers
- Traders and suppliers
- Energy and power companies
- Automobile companies
- Food and beverage companies
- Packaging companies
- Pharmaceutical companies
- Manufacturing consulting companies
- Investors and venture capitalists
- Manufacturers implementing AI technology
- Government bodies, venture capitalists, and private equity firms
The main objectives of this study are as follows:
- To define, describe, and forecast the compressed air filter and dryer market on the basis of product, industry, and geography
- To describe and forecast the size of the market in four regions: North America, Europe, Asia Pacific, and the Rest of the World
- To provide detailed information regarding the factors (drivers, restraints, opportunities, and challenges) influencing the market’s growth
- To provide an overview of the recent trends in the market
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market size
- To study the complete value chain of the market
- To analyze the probable impact of the recession on the market in the near future
- To analyze the opportunities for stakeholders by identifying the high-growth segments of the market
- To strategically profile the key players and comprehensively analyze their market positions in terms of their ranking and core competencies2
- To analyze the competitive developments such as joint ventures, collaborations, agreements, contracts, partnerships, mergers and acquisitions, product launches, and research and development (R&D) in the compressed air filter and dryer market
- To provide an analysis of the recession impact on the growth of the market and its segments
Available Customizations:
With the given market data, MarketsandMarkets offer customizations according to the specific requirements of companies. The following customization options are available for the report:
Country-wise Information:
- Analysis for additional countries (up to five)
Company Information:
- Detailed analysis and profiling of different market players (up to five)
Generating Response ...
Growth opportunities and latent adjacency in Compressed Air Filter and Dryer Market