Compressed air treatment equipment market 2020
North America compressed air treatment equipment market to accrue significant proceeds by 2026
Myriad usage across many industries, such as healthcare, manufacturing, and food & beverage will stimulate compressed air treatment equipment market trends. Several industries are witnessing an increase in demand for treated compressed air. The food and beverage industry is a major end user of the market, which utilizes compressed air to cool and freeze products. In the food & beverage industry, consumption of compressed air is likely to surge owing to the consolidating trend of maintenance of a healthy lifestyle.
A research study conducted by Global Market Insights, Inc., suggests that compressed air treatment equipment market is likely to exceed the $12.8 billion mark by 2026, in terms of revenue.
Highly pure form of compressed air has found a multitude of applications in the healthcare and food & beverage industries. Research & development activities are increasing in the healthcare industry, which has multiplied applications of the product. Compressed air treatment equipment is used in dental applications as well for powering dental tools and dental milling machines. Numerous applications in various industries are expected to spur compressed air treatment equipment industry growth in the ensuing years.
Compressed air treatment equipment has found a variety of applications in the food & beverage industry owing to the massive consumption of contamination-free compressed air in several operations, such as nitrogen generation, pelleting & packaging, and cooling & freezing products. In addition, the market is anticipated to observe colossal growth from increasing demand for compressed air in processing, bottling, cleaning, and packaging applications in the food & beverage industry.
Compressed air treatment equipment is extensively used in critical instruments, such as transmitters, converters, indicators, thermostats, and recorders. The manufacturing sector, which is in the midst of industrial automation, has opened up new avenues for the expansion of instrument air application segment. The product is highly used in operating precision equipment and machineries. The instrument air application segment is projected to surpass a valuation of around $4.5 billion by 2026.
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The other product segment of compressed air treatment equipment industry consists of drain traps, condensate treatment equipment purifiers, etc. As per estimates, the other product segment is likely to account for more than $750 million by 2026. The segmental growth will stem from stringent government regulations pertaining to the disposable condensate, which will contribute to enhance compressed air treatment equipment market trends.
Elaborating on the regional contribution, North America is expected to emerge as a key compressed air treatment market. The region houses several leading manufacturing and food & beverage industry participants, which generates massive demand for compressed air treatment equipment. In addition, a series of investments directed towards the advancement of the healthcare industry is anticipated to fuel compressed air treatment equipment industry demand. North America compressed air treatment equipment industry is anticipated to register a 5.5% CAGR over 2020-2026.
Compressed air treatment equipment market is witnessing a forward integration owing to the high degree of competition among business players. The companies operating in the industry are prioritizing business strategies, such as expansions, acquisitions, product development, etc., to gain profits. Some of the notable compressed air treatment equipment industry players include Donaldson Company, Inc., Gardner Denver, Kaeser, Sullair, Sullivan-Palatek, Atlas Copco, Beko Technologies Corp., and Boge Compressors. A few more eminent business participants are Emerson Climate Technologies, Inc., CompAir Holdings Ltd., Precision Filtration Products, Seneca Companies, Quincy Compressor, SMC Corporation, etc.
Author Name : Anchal Solanki