Air Compressor Filter and Compressed Air Dryer Market
The Global Air Compressor Filter and Compressed Air Dryer Market size was valued at USD 5.39 Billion in 2022 and is likely to reach USD 9.11 Billion by 2031, expanding at a CAGR of 6.0 % during 2023 – 2031. The market's growth is attributed to rising construction activities and increasing adoption in the healthcare industry.
Increasing adoption of air compressor filters and compressed air dryers in healthcare is expected to boost the market demand. Compressed air dryers are utilized in healthcare to offer clean and spiffy air to patients by removing water contaminants and particulates from the air. Air compressor filters and compressed air dryers reduce the high concentration of oxygen exposure in hospitals by providing oil-free compressed air, a substitute for nitrous oxide, encouraging its adoption in healthcare.
Compressed air dryers are a type of filter system designed to remove water from the air to offer pure, clean, and compressed air while air compressor filters remove contaminants from the incoming air to keep critical system components such as valves and cylinders working. Air compressor filter and compressed air dryer is used in the automotive, oil & gas, chemicals, power generation, and electronics industry to remove condensed water, oil, and particulates.
Construction activities involve high-energy tools, such as wall chasers, cut-off saws, grinders, and grit blasters which produce dust particulate in the environment. Dust particulate causes blockages in the equipment, which downstream machinery, reduces productivity. An air compressor filter protects the system from dust particulates, solid particles, and oil. Therefore, rising construction activities are expected to boost market demand. For instance,
The COVID-19 pandemic hampered the demand for air compressor filters and compressed air dryers. Air compressor filters and compressed air dryers are primarily used in the automotive industry for spray painting, air conditioning, cabin air filtration, and pneumatic brakes. The automotive industry witnessed a sharp downfall during the COVID-19 pandemic, due to the disruption in the supply chain and preventive measures by the government such as suspension of all non-essential work, social distancing, and imposition of lockdown, which significantly hindered the demand for air compressors filters and compressed air dryers. For instance,
Impact of Artificial Intelligence (AI) on Air Compressor Filter and Compressed Air Dryer
Air compressor filters and compressed air dryers are major devices to remove dust, oil, water, and solid particulates from the air to ensure the health and safety of the work environment. The growing technological advancement such as artificial intelligence (AI) has opened a world for air compressor filters and compressed air dryers. AI-powered compressed air adjusts its filtration methods and settings to target specific pollutants more effectively. AI-enabled compressed air filters offer cleaner and healthier air by combining advanced sensing technologies with machine learning algorithms, which is projected to enhance its demand in the coming years.
Air Compressor Filter and Compressed Air Dryer Market Dynamics
Major drivers
Rising number of wastewater treatment plants and their usage is anticipated to boost the demand for air compressor filters and compressed air dryers. These compressed filters and dryers are utilized in water treatment plants to remove wastewater contaminants by providing the necessary suction pressure to the flushing pumps. Thus, the increasing use of water treatment plants is propelling market growth. For instance,
Growing food & beverages industry is projected to drive the market. Air compressor filters and compressed air dryers are used for air-tight packaging of food products and to remove contaminants such as microorganisms, water, and oil from the packaging. Moreover, they create gas pressure in the chill beverage can, which encourages its adoption in the food & beverages industry.
Existing Restraints
High maintenance cost of air compressor filters and compressed air dryers is expected to restrict the market growth as they require periodic maintenance to minimize unscheduled downtime. Energy consumption of these compressed filters and dryers rises due to inadequate maintenance which causes air leakage, improper moist control, and excessive containment, resulting in high energy consumption. This drawback associated with air compressor filters and compressed air dryers is expected to impede market growth.
Emerging Opportunities
Growing investment in research and development activities by key market players to introduce novel products and technology for air compressor filters and compressed air dryers creates an immense opportunity in the market. Key market players are introducing air treatment systems equipped with multiple stages of filtration and twin-tower adsorption to enhance the quality of compressed air filters and dryers. For instance,
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On May 12, 2021, Parker Hannifin Corporation, a motion and control technology company introduced the Parker PPD Series a portable desiccant compressed air dryer for the rental industry to deliver oil-free compressed air. It is based on twin-tower adsorption technology and is equipped with multiple stages of filtration.
Scope of the Air Compressor Filter and Compressed Air Dryer Market Report
The report on the market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Air Compressor Filter and Compressed Air Dryer Market- Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product (Compressed Air Dryers and Compressed Air Filters) and Industry Vertical (Automotive, Oil & Gas, Chemicals, Power Generation, Electronics, Metals & Machinery, Healthcare, Food & Beverages, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Atlas Copco AB; PARKER HANNIFIN CORP; Ingersoll Rand; Donaldson Company, Inc.; Pentair; BEKO TECHNOLOGIES; BOGE; ELGi; Airfilter Engineering; Precision Filters; KAESER KOMPRESSOREN; Van Air Systems; SPX Flow, Inc.; Hitachi Global Air Power US, LLC.; American Air Filter Company, Inc.; ABSOLENT; and ANEST IWATA Corporation.
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Market Segment Insights
Product Segment Analysis
Based on product, the air compressor filter and compressed air dryer market is bifurcated into compressed air dryers and compressed air filters. The compressed air dryer segment dominated the market in 2022, due to wide adoption in several industries and low cost. Air dryer is mainly used in several industries such as food & beverages, chemical, and oil & gas to increase the lifespan of equipment such as piping and tools by preventing corrosion as it removes water vapor and other moisture from the air. Moreover, key companies in the market are innovating and introducing new compressed air dryers which is expected to drive market growth. For instance,
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On March 16, 2021, Donaldson Company, Inc., a manufacturing filtration company introduced Ultrapac smart dryer for compressed air process filtration applications. Ultrapac uses filtering, drying, and purifying techniques to remove condensate and dry compressed air streams in manufacturing facilities.
The air compressor filter segment is projected to grow at a quick pace during the forecast period, owing to the increasing adoption in the automotive industry. Air compressor filters are installed in automobile vehicles to prevent solid particulate and liquid contaminants from entering the automotive system, causing costly damage. Thus, the rising automotive sector is enhancing the segment which is propelling the market growth. For instance,
Industry Vertical Analysis
In terms of industry verticals, the global market is segregated into automotive, oil & gas, chemicals, power generation, electronics, metals & machinery, healthcare, food & beverages, and others. The automotive segment held a large market share in 2022, due to increasing demand for automobiles coupled with rising disposable income.
Air compressor filters and compressed air dryers are commonly utilized in automobiles for cabin air filtration, air conditioning, and pneumatic brakes, which encourages their adoption in the automotive industry. Moreover, compressed air dryers are utilized to vaporize and propel paint on car components and shells, which is expected to boost the market demand for air compressor filters and compressed air dryers.
The oil & gas segment is anticipated to grow at a robust pace during the assessment period, owing to economic expansion and fast modernization in developing regions. Compressed air dryers and air compressor filters are utilized in the oil & gas industry to transport and store gases by keeping gases at high pressures. Moreover, they are used to reduce the volume of the gases, store and handle the aeration process, and accelerate the drying processes, which is estimated to encourage their demand in the oil & gas industry.
Regional Outlook
Based on region, the air compressor filter and compressed air dryer market is categorized into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America accounted for a major market share in 2022, due to the presence of established market players such as Donaldson Company, Inc., PARKER HANNIFIN CORP, Ingersoll Rand, and BEKO TECHNOLOGIES. Moreover, the growing healthcare industry in the region is propelling market growth as air compressor filters and compressed air dryers are utilized for medicine packaging to prevent humidity with medicine, ensuring medicine quality. Additionally, they offer clean air to patients by removing the water, contaminants, and particulates from the air, which is expected to boost their adoption in the healthcare sector. For instance,
Asia Pacific is projected to witness rapid growth during the projection period, owing to increasing industrialization and growing modernization. Regulatory requirements for air quality and product safety in industries are propelling the market the market growth. Moreover, the growing automotive sector in the region is driving market demand as these filters and dryers are in the automotive sector for several applications such as to prevent liquid and solid contaminants from entering the automotive system and to dry the moisture in compressors used to spray paint cars, thus growing automotive sector in the region is enhancing market growth. For instance,
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According to the report published by the Press Information Bureau, the Ministry of Heavy Industries on February 17, 2023, India aims to double its auto industry size to INR15 lakh crores by 2024.
Segments
The air compressor filter and compressed air dryer market has been segmented on the basis of
Product
- Compressed Air Dryers
- Compressed Air Filters
Industry Vertical
- Automotive
- Oil & Gas
- Chemicals
- Power Generation
- Electronics
- Metals & Machinery
- Healthcare
- Food & Beverages
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Atlas Copco AB
- PARKER HANNIFIN CORP
- Ingersoll Rand
- Donaldson Company, Inc
- Pentair
- BEKO TECHNOLOGIES
- BOGE
- ELGi
- Airfilter Engineering
- Precision Filters
- KAESER KOMPRESSOREN
- Van Air Systems
- SPX Flow, Inc
- Hitachi Global Air Power US, LLC
- American Air Filter Company, Inc
- ABSOLENT
- ANEST IWATA Corporation
Competitive Landscape
Key players competing in the global market are Atlas Copco AB; PARKER HANNIFIN CORP; Ingersoll Rand; Donaldson Company, Inc.; Pentair; BEKO TECHNOLOGIES; BOGE; ELGi; Airfilter Engineering; Precision Filters; KAESER KOMPRESSOREN; Van Air Systems; SPX Flow, Inc.; Hitachi Global Air Power US, LLC.; American Air Filter Company, Inc.; ABSOLENT; and ANEST IWATA Corporation.
These companies adopted development strategies including collaboration, product launches, mergers, acquisitions, partnerships, and production expansion to expand their consumer base worldwide. For instance,
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On May 18, 2023, ELGi an air compressor and garage equipment manufacturing company announced the introduction of AR Premium Series, energy-saving cycling refrigerated air dryers at the annual Association of Independent Compressor Distributors (AICD) show in Grapevine. These air dryers range from 100 cfm to 5,000 cfm, improving the efficiency and reliability of compressed air systems.
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On July 7, 2021, Atlas Copco a manufacturing industrial tool company introduced next-generation air filters with inPASS technology to reduce costs and streamline maintenance of the filters.
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