Rapid industrial expansion in the Asia Pacific region will be one of the major factors influencing the compressed air treatment equipment market.
Selbyville, DE -- (SBWIRE) -- 12/24/2018 -- Rapid industrial expansion in the Asia Pacific region will be one of the major factors influencing the compressed air treatment equipment market. Countries such as India, China, Japan, and Indonesia have undergone tremendous growth in the last couple of years and will display exceptional industrial development in the succeeding decade.
Boasting a widespread end-use landscape encompassing food and beverage, chemical, and electronics sectors, compressed air treatment equipment market is expected to carve a lucrative roadmap in the years ahead. In today's automated production facilities, the deployment of compressed air supply has become pivotal, a factor that can predominantly be credited for the upscaling of compressed air treatment equipment industry demand. Popularly known as the 4th utility, statistics depict that almost 90% of food companies incorporate compressed air in their operations in some way or the other
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Compressed Air Treatment Equipment Market will likely surpass USD 11 billion by 2024. Compressed Air Treatment Equipment Market will see growth barriers in the upcoming years owing to its high operational and maintenance costs. Around 70% of the of the total cost incurred is of the energy that the equipment consumes. Also, huge capital expenditure on the machineries make them less preferred for buying. Customers tend to obtain the desired machinery on a rental basis which makes it easy for them to save the maintenance and capital cost, and also use superior and developed machinery each time. These factors may result in slower growth of compressed air treatment equipment market in the forecast spell.
More than 75% of all the industrial applications require compressed air at some point of their operating cycle. Treatment equipment is essential for every pneumatic application owing to its effects on production environment and the machinery life cycle. Compressed air treatment equipment is also used to reduce the air pressures in compressors which results in better energy conservation and improving operational efficiency.
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The European Parliament and Council under regulation EC 852/2004 deals with certain standards on food hygiene that needs to be complied with.
Generally, hygiene legislations require food manufacturers to initiate written FSMS (food safety management systems) based on HACCP principles (Hazard Analysis Critical Control Point). Since compressed air supply is closely linked to food industry, the aforementioned fact is a vital pointer that should be taken into consideration by compressed air treatment equipment industry players.
In this regard, many companies are also adopting ISO standard ISO22000:2005 to fully endorse the principles of HACCP system. The ISO standard further claims that hazard analysis is the key to effective food safety management. This is sure to reflect in compressed air treatment equipment market share from food and beverage sector, which is expected to witness a y-o-y growth of 6.5% over 2017-2024
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Key brands in the entire compressed air treatment equipment market are CompAir, Atlas Copco, Chicago Pneumatic, Kaeser Kompressoren, Ingersoll-Rand, Walker Filtration, Sullivan-Palatek, Seneca Companies, Precision Filtration Products, Norgren, Friulair, Bauer Compressors, Gardner Denver, Donaldson Company, Emerson Climate Technologies, Beko Technologies, Omega Air, and Pentair to name a few.