Compressed Air Filter and Dryer Market with COVID-19 Impact Analysis by Product, Industry & Region - Global Forecast to 2027

Compressed Air Filter and Dryer Market with COVID-19 Impact Analysis by Product, Industry & Region - Global Forecast to 2027

  • February 2022 •
  • 229 pages •
  • Report ID: 5863936 •
  • Format: PDF
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 2026, 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.

Breakdown of the profiles of primary participants:
• By Company Type: Tier 1 - 45%, Tier 2 - 35%, and Tier 3 - 20%
• By Designation: C-level Executives - 40%, Directors - 35%, and others - 25%
• By Region: North America - 30%, Europe – 25%, Asia Pacific - 35%, and RoW - 10%
Major players profiled in this report are as follows: Atlas Copco (Sweden), Ingersoll Rand (US), Parker-Hannifin (US), Pentair (UK), and Donaldson Company (US), and others.

Research Coverage
In this report, the compressed air filter and dryer market has been segmented based on product, industry, and region.The compressed air filter and dryer market based on product has been segmented into compressed air dryers and compressed air filters.

Based on industry, the market has been segmented into automotive, oil & gas, chemicals, power generation, food & beverages, metals & machinery, pharmaceuticals, electronics, and others. The study also forecasts the size of the market in four main regions—North America, Europe, Asia Pacific, and Rest of the World.

Key Benefits of Buying the Report:

The report would help market leaders/new entrants in this market in the following ways:
This report segments of the compressed air filter and dryer market comprehensively and provides the closest approximation of the overall market size and subsegments that include product, industry, and region.
The report would help stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities pertaining to the compressed air filter and dryer market.
This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business.
Detailed information regarding the COVID-19 impact and related updates on the market has been provided in the report
The competitive landscape section includes the competitor ecosystem, as well as growth strategies such as product launches and acquisitions carried out by major market players.
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