Air Compressor Filter and Compressed Air Dryer Market Is Expected to Grow in the Future
The air compressor filter and compressed air dryer market is estimated to grow from USD 5.4 billion in 2020 to USD 7.5 billion by 2025
Northbrook, IL -- (SBWire) -- 12/10/2020 --The air compressor filter and compressed air dryer market is estimated to grow from USD 5.4 billion in 2020 to USD 7.5 billion by 2025; it is expected to grow at a CAGR of 7.0% during the forecast period. The market growth is propelled by increasing need to reduce downtime and improve system efficiency, the growing use of compressed air dryers for protecting equipment against hazardous and corrosive environments, and surging demand for air compressor filters as they filter contaminants up to several microns.
Market for air compressor filters to grow at higher CAGR from 2020 - 2025
Clean and dry air aids in the reduction of the operational cost of equipment. In addition, it also facilitates in maintaining efficient, as well as cost-effective production. Owing to the requirement for contaminant-free air in industries such as food & beverages, pharmaceuticals, and electronics, the demand for air compressor filters is expected to increase in the coming years.
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Food & beverages industry to exhibit highest growth in air compressor filter and compressed air dryer market during forecast period
Food storage and transport applications require pure air to inhibit the growth of fungus and microorganisms caused by the presence of moisture in the stored food. Air compressor filters and compressed air 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 the market demand.
Air compressor filter and compressed air dryer market in APAC to grow at highest CAGR during forecast period
Rapid urbanization and industrialization are driving the growth of manufacturing industries in countries including China and India, which is expected to create demand for air compressor filters and compressed air dryers in APAC. China accounted for the largest size of the air compressor filter and compressed air dryer market in APAC in 2019. China is considered to be the global electronics manufacturing hub. Air compressor filters and compressed air dryers are used extensively in PCB manufacturing and electronics packaging processes. Hence, the demand for air compressor filters and compressed air dryers is expected to be high in China.
Key Market Players
As of 2019, Atlas Copco (Sweden), Ingersoll-Rand (US), Parker-Hannifin (US), Mann+Hummel (Germany), and Donaldson Company (US) were the major players in the air compressor filter and compressed air dryer market.
Media Relations Contact
Mr. Amish Keshwani
View this press release online at: http://rwire.com/1319974