DUBLIN--(BUSINESS WIRE )--The "Air Compressor Filter and Compressed Air Dryer Market by Product (Air Dryers (Refrigeration, Desiccant, Deliquescent, Membrane), Air Filters (Particulate, Coalescing, Compressed Intake, Activated Carbon)), Industry, and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global compressed air filter and dryer market size is expected to grow from USD 5.4 billion in 2022 to USD 7.3 billion by 2027, at a CAGR of 6.2%.
The growth of compressed air filter and dryer market is driven by the surging demand for compressed air solutions from food & beverages industry, and increasing use of compressed air dryers for protecting equipment against hazardous and corrosive environments.
Many of the major manufacturing and processing industries such as automotive, oil & gas, chemicals, pharmaceuticals, and power were adversely affected by the COVID-19 pandemic as their operations were discontinued for months. This resulted in disruptions in industrial supply chains as industries took time to resume operations even after the COVID-19-related restrictions were relaxed. This had an adverse impact on the growth of the compressed air filter and dryer market in 2020.
Compressed air dryer held the larger share of the market for the chemicals industry in 2021
Compressed air dryers held the larger share of the market for the chemicals industry in 2021. Chemical companies deal with toxic and combustible gases daily; hence, high-quality compressed air is quite crucial for the safety and efficiency of equipment. Compressed air dryers such as refrigeration dryers have a high demand in the chemicals industry due to the requirement of high-purity products and the dangerous or hazardous gases present in a chemicals production facility. Chemical facilities often experience sudden changes in temperature due to endothermic or exothermic reactions occurring inside the plant. Refrigeration dryers are best suited for handling such sudden shifts in temperature.
Automotive industry accounted for the largest share of the compressed air filter and dryer market in 2021
The automotive industry accounted for the largest share of the compressed air filter and dryer market in 2021. It is one of the largest revenue-generating industries globally and is expected to flourish in the coming years owing to the rising demand from countries such as China, the US, and Germany. Compressed air filters and dryers are fundamental to the automotive industry and are used for cabin air filtration, air conditioning, spray painting, and laser purging and in air spindles, air bearings, air guns, and pneumatic brakes in automobiles.
North America accounted for the largest share of the global compressed air filter and dryer market
North America accounted for the largest share of the global compressed air filter and dryer market in 2021. The US is the major contributor to the North American compressed air filter and dryer market. The presence of many manufacturing facilities of automotive and food & beverages industries is expected to drive the compressed air filter and dryer market in North America. The oil & gas industry is also among the key contributors to the growth of market in this region.
With stringent regulations regarding the cleanliness standards of environmental air, the demand for compressed air filters and dryers has increased significantly in the US. It is one of the largest automotive markets and its automotive industry is also one of the growing industries in the world. Also, electric vehicles require a greater number of compressed air filters than conventional vehicles, hence boosting the growth of the compressed air filter and dryer market in the country.
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T. Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900