According to a new report, published by KBV research, The Global Compressed Air Filter and Dryer Market size is expected to reach $7.2 billion by 2027, rising at a market growth of 6.0% CAGR during the forecast period.
The Compressed Air Dryers segment acquired the maximum revenue share in the Global Compressed Air Filter and Dryer Market by Product in 2020; thereby, achieving a market value of $4.0 billion by 2027. Because of the need for high-purity products and the presence of harmful or hazardous gases in a chemical manufacturing facility, compressed air dryers, such as refrigeration dryers, are in massive demand in the chemicals sector. Chemical plants frequently face abrupt temperature changes as a result of internal endothermic or exothermic reactions. Refrigeration dryers are ideal for dealing with such drastic temperature changes.
The Pharmaceuticals market is showcasing a CAGR of 6.6% during (2021 - 2027). This is because pharmaceuticals are one of the most tightly regulated industries in the world. In addition, any company that wants to make pharmaceuticals must follow Good Manufacturing Practice (GMP1) rules, the European Pharmacopoeia2, different FDA (Food and Drug Administration) guidelines, and ICH3 recommendations (International Council for Harmonisation of Technical Requirements for Pharmaceuticals for Human Use). Contaminant particles will be present in any compressed air. These can cause a pneumatic system to stop working properly, resulting in poor production quality. Hence, the need and use for compressed air filters and dryers are constantly increasing in this industry.
North America is the fastest growing region in the Global Compressed Air Filter and Dryer Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2.5 billion by 2027. The Europe market is estimated to witness a CAGR of 5.3% during (2021 - 2027). Additionally, The Asia Pacific market would exhibit a CAGR of 6.7% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/compressed-air-filter-and-dryer-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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