Air Compressor Filter & Compressed Air Dryer Market 2024 : Size, Growth Rate, Business Module, Product Scope, Regional A

Posted by Amruta Pritam on April 10th, 2024

Overview and Scope

Air compressor filter & compressed air dryer refers to a filter used to filter impurities from atmospheric air including dust, oil and moisture, and harmful liquids to make compressed air viable for use.

Sizing and Forecast

The air compressor filter & compressed air dryer market size has grown strongly in recent years. It will grow from <b>.69 billion in 2023 to .97 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. </b> The  growth in the historic period can be attributed to industrialization and manufacturing growth, energy efficiency regulations, economic growth, environmental concerns, rise in electronics sector.

The air compressor filter & compressed air dryer market size is expected to see strong growth in the next few years. It will grow to <b>.35 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. </b> The growth in the forecast period can be attributed to industry 4.0 adoption, infrastructure development, rise in automotive industry, aging equipment, rising urbanization . Major trends in the forecast period include smart and connected systems, modular and scalable solutions, nanofiber technology, remote monitoring and predictive maintenance, high-pressure air treatment.

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Segmentation & Regional Insights

The air compressor filter & compressed air dryer market covered in this report is segmented –

1) By Product Type: Compressed Air Dryers, Compressed Air Filters

2) By Application: Condensed Water Removal, Oil Removal, Particulate Removal, Other Applications

3) By Industry Vertical: Automotive, Oil and Gas, Food and Beverages, Power Generation, Metals and Machinery, Pharmaceuticals, Electronics, Chemicals, Other Industries

<b>North America</b> was the largest region in the air compressor filter & compressed air dryer market in 2023. The regions covered in the air compressor filter & compressed air dryer market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth

The increasing growth of the pharmaceutical industry is expected to propel the growth of the air compressor filter & compressed air dryer market going forward. The growth of the pharmaceutical industry refers to the discovery, development, and manufacture of drugs and medications by public and private organizations for the treatment of patients and its sales and marketing. In pharmaceutical and bio-pharmaceuticals manufacturing facilities, higher quality of air is required so that the final product should be free of oil, water, and microorganisms. To ensure the quality of the product manufacturers are investing hugely in air filters and dryers which shows a significant growth in the air compressor filter & compressed air dryer market. For instance, according to India Brand Equity Foundation, an India-based trust established by the Department of Commerce, the domestic pharmaceutical market in India was valued at USD 42 billion in 2021 and is projected to rise to USD 65 billion by 2024 and USD 120–130 billion by 2030. Also. the Indian pharmaceutical market saw a 13.9% growth in overall revenue in January 2022. Furthermore, according to Atradius Collections, a Germany-based full-service B2B debt collections firm, Germany produced 4.5% of the world's pharmaceuticals in 2020. Following a 5.2% increase in 2021, the value-added output of the pharmaceutical industry is predicted to increase by 4% in 2022 and by more than 2% in 2023. Therefore, the growth of the pharmaceutical industry is driving the growth of air compressor filter & compressed air dryer market.

Key Industry Players

Major companies operating in the air compressor filter & compressed air dryer market include <b> Beko Technologies GmbH, BOGE KOMPRESSOREN, Donaldson Company Inc., Ingersoll Rand, Kaeser Compressors Inc., Parker Hannifin Corporation, SPX Flow Inc., Sullair, Sullivan-Palatek Inc., Van Air Systems, Walker Filtration Limited, Airfilter Engineering (AFE), Ing. Enea Mattei Spa, Mann + Hummel Gruppe, OMEGA AIR d.o.o. Ljubljana, Precision Filtration Products, ZEKS Compressed Air Solutions., Gardner Denver, CompAir, Mattei, Sauer Compressors, Hitachi Industrial Equipment Systems Co Ltd, MTA SpA, Zander Group, Pentair, Quincy Compressors, Aircel, Deltech </b>

The air compressor filter & compressed air dryer market report table of contents includes:

1. Executive Summary

2. Air Compressor Filter & Compressed Air Dryer Market Characteristics

3. Air Compressor Filter & Compressed Air Dryer Market Trends And Strategies

4. Air Compressor Filter & Compressed Air Dryer Market - Macro Economic Scenario

5. Global Air Compressor Filter & Compressed Air Dryer Market Size and Growth

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31. Global Air Compressor Filter & Compressed Air Dryer Market Competitive Benchmarking

32. Global Air Compressor Filter & Compressed Air Dryer Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Air Compressor Filter & Compressed Air Dryer Market

34. Air Compressor Filter & Compressed Air Dryer Market Future Outlook and Potential Analysis

35. Appendix

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