Air Compressor Filter and Compressed Air Dryer Market to Reach $10.2 Billion, Globally, by 2033 at 6.1% CAGR: Allied Market Research
Wilmington, Delaware, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Air Compressor Filter and Compressed Air Dryer Market by Product Type (Compressed Air Dryers and Compressed Air Filters), and Industry (Automotive, Oil & Gas, Chemicals, Power Generation, Food & Beverage, Metals & Machinery, Pharmaceuticals, Electronics and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the air compressor filter and compressed air dryer market was valued at $5.7 billion in 2023, and is estimated to reach $10.2 billion by 2033, growing at a CAGR of 6.1% from 2024 to 2033.
Prime determinants of growth
The growing demand for compressed air across diverse industries is driving the market growth for air compressor filters and compressed air dryers. Compressed air is a vital component used in a wide range of industrial processes, such as manufacturing, construction, automotive, pharmaceuticals, food & beverage, and electronics assembly. As industries continue to expand and modernize, the demand for compressed air systems grows, driving the need for efficient filtration and drying solutions.
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The ongoing expansion of industrial activities, particularly in emerging economies, fuels the demand for compressed air systems to power various manufacturing processes. As industries grow and modernize, the need for reliable and high-quality compressed air increases, thereby driving the demand for air compressor filters and dryers.
Industries are subject to stringent regulations and quality standards regarding air quality, workplace safety, and environmental protection. Compliance with these standards necessitates the use of effective air compressor filters and dryers to ensure the purity, cleanliness, and dryness of compressed air. The need for regulatory compliance drives market growth as industries invest in air treatment solutions to meet these requirements.
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Segment Highlights
Based on the product type, the compressed air dryers segment held the highest market share in 2023 as Compressed air dryers are crucial in ensuring the removal of moisture from compressed air, which is essential for maintaining the integrity and efficiency of various industrial processes. The demand for compressed air dryers for air compressor filters is propelled by the need to guarantee the quality and reliability of compressed air utilized in a variety of industrial applications. By removing moisture from the compressed air stream, dryers help prevent corrosion, contamination, and operational issues in downstream equipment and processes. As a result, compressed air dryers are considered essential components of compressed air systems, driving their high market demand.
Compressed air dryers find applications across diverse industries, including manufacturing, automotive, food & beverage, pharmaceuticals, electronics, and others. The need for dry compressed air spans various processes, such as pneumatic tools, instrumentation, air-powered machinery, painting, and packaging. The broad applicability of compressed air dryers across industries contributes to their high market share.
Based on the industry, the automotive segment held the highest market share in 2023 as the automotive industry extensively uses compressed air systems for painting, powering pneumatic tools, and other manufacturing processes. Compressed air is used to power pneumatic equipment, control machinery, and perform critical tasks throughout the production line. As a result, there is a significant demand for reliable and high-quality compressed air systems, including air compressor filters and dryers, to ensure the efficiency and reliability of automotive manufacturing operations.
The automotive industry is subject to stringent quality standards and regulations regarding product quality, safety, and environmental impact. Compressed air used in automotive manufacturing must meet specific purity and dryness requirements to prevent contamination, ensure product quality, and maintain the integrity of production processes. Air compressor filters and dryers play a crucial role in meeting these standards by removing impurities and moisture from the compressed air stream, making them indispensable components in automotive manufacturing facilities.
Regional Outlook
Asia-Pacific has attained the highest market share for air compressor filters and compressed air dryers due to its strong industrial base, stringent regulatory standards, technological innovation, and focus on energy efficiency, driving significant demand across various sectors.
Players
- 3M Company
- AAF International (American Air Filter)
- Absolent AB
- AEC Group
- Airfil Oy
- Airsan Air Systems International Inc.
- ALMiG Kompressoren GmbH
- Alpha-Pure Corporation
- Anest Iwata Corporation
- Asian Filtration Technology
The report provides a detailed analysis of these key players in the global air compressor filter and compressed air dryer market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Development:
- In May 2024, Atlas Copco acquired Maziak compressor service Ltd., distributor of air compressors, nitrogen generators and process cooling equipment as well as related service and support. This acquisition is expected to become part of the service division within Atlas Copco’s compressor technique business area.
- In January 2023, Donaldson Company Inc, introduced managed filtration service, an industry-leading consultative, comprehensive and connected solution for industrial filtration customers. With Donaldson iCue managed filtration services, the company monitors the equipment with smart technology, helps ensure it is performing optimally, and provides busy customers with the service and maintenances they need.
- In January 2023, Donaldson company inc. launched Torit Downflo Ambient (DFA) weld fume extractor that gives fabrication the ability to weld in a variety of different workstation configuration.
- This new collector offers a simple solution for effective weld fume extraction without the need for duct work or hoods.
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