The Asia Pacific Compressed Air Filter and Dryer Market would witness market growth of 6.7% CAGR during the forecast period (2021-2027).
Compressed air applications, such as in-situ combustion in the oil and gas sector, electronics and galley cooling, and gas sampling and analysis in the aerospace industry, are expected to drive market development of compressed air dryers and air dryer filters in the near future. Compressed air dryers would be used in a variety of industries, including automotive, chemicals & petrochemicals, aerospace/defense, oil & gas, power & utility, and other end-use verticals, as a result of rising industrialization. By removing vapor content, these dryers avoid hydrates and scale formation in air compressors.
Furthermore, increased use in a variety of end-use verticals is expected to boost product penetration in manufacturing plants. Furthermore, compressed air dryers provide a number of advantages, including extending the life of air compressors by reducing the danger of corrosion, scale, and hydrate development.
Over the last few years, increased industrialization has provided numerous possibilities for compressed air dryer manufacturers to boost their production volumes. Over the next few years, air treatment systems are projected to see increased use in oil and gas, as well as aerospace and defense. In terms of product acceptance and scalability, the industrial machinery vertical is the most appealing.
According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), automobile production in APAC reached 49 million units in 2019. Electric vehicles are expected to continue to be the backbone of the automotive industry's growth in the coming years. According to the Deloitte EV Outlook, over 21 million electric vehicles would be produced in 2030, up from around 4 million in 2020. Furthermore, between 2018 and 2023, China's equipment production is predicted to grow at a CAGR of over 8%, boosted by the vision 'Made in China 2025,' which pushes businesses to employ high-end machine tools.
In Material processing, each material has its own set of processing criteria that must be followed to the letter in order for things to go as planned. This is made possible by desiccant air dryers. Moreover, for mold avoidance, the moisture turns to mold when left to evaporate through surfaces, reducing sanitation in any working condition.
The China market dominated the Asia Pacific Compressed Air Filter and Dryer Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $582 million by 2027. The Japan market is poised to grow at a CAGR of 6.1% during (2021 - 2027). Additionally, The India market would experience a CAGR of 7.4% during (2021 - 2027).
Based on Product, the market is segmented into Compressed Air Dryers and Compressed Air Filters. Based on Compressed Air Dryers Type, the market is segmented into Refrigeration Dryers, Desiccant/Adsorption Dryers, Deliquescent Dryers and Membrane Dryers. Based on Compressed Air Filters Type, the market is segmented into Particulate Filters, Coalescing Filters, Compressed Intake Filters and Activated Carbon Filters. Based on Industry, the market is segmented into Automotive, Metals & Machinery, Pharmaceuticals, Electronics, Oil & Gas, Chemicals, Power Generation, Food & Beverages and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Compressed Air Filter and Dryer Market is Projected to reach USD 7.2 Billion by 2027, at a CAGR of 6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ingersoll Rand, Inc., Parker Hannifin Corporation, Pentair PLC, Donaldson Company, Inc., SPX Flow, Inc., Atlas Copco AB, BOGE Compressed Air Systems GmbH & Co. KG, Sullair, LLC (Hitachi Group), Sullivan-Palatek, Inc., and Kaeser Kompressoren SE.
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