The compressed air filter and dryer market size is expected to advance at a CAGR of 5.8% during 2024–2030, to reach USD 8,350.1 million by 2030. This can be ascribed to the advancements in technology, rapid industrialization, surging pollution levels, and widely used in several industries. Moreover, compressed air acts as a power source for drilling equipment and helps in operating valves and fluid lifting in wells.
In addition, these air dryers are used extensively for the purpose of removing condensation, which is usually caused after the entrance of air in systems, and fulfilling the goals of achieving dry compressed air. Several other advantages shown by compressed air systems are optimum dew point levels for high system performance. Moreover, it has been evaluated that compressed air is used in humid, wet, and explosive conditions and compressed air tools are expected to withstand extreme temperatures.
Across production facilities, industry 4.0 is considered a digital nexus, which connects machines, personnel, and systems in between the facilities. It has been evaluated that the industries are innovatively using advanced technologies and robotics for the purpose of optimization of their manufacturing processes. Several economies are developing across the globe, such as the U.A.E., India, Brazil, Saudi Arabia, Thailand, and South Africa, and industries in these areas are growing simultaneously. They are also considered as manufacturing hubs. Thus, these countries provide business environments, which, in turn, offer several opportunities to players operating in the market.
With the expansion of several types of industries, the demand for efficient and reliable compressed air filters and dryers is increasing. This is because they play an important for several industrial processes, including manufacturing, for ensuring compliance with maintaining regulations related to air quality and maintaining production efficiency.
The APAC market is expected to grow over the forecast period at a CAGR of 6.0%. This can be ascribed to rapid urbanization and industrialization and the surging pollution levels in the region. Due to the growth in industrialization in developing countries, the environmental situation is becoming critical. To reduce the level of pollution, compressed air filters and dryers are used, which help remove contaminants present in the air and ensure that the air present is clean and safe for use.
For instance, it has been predicted on the basis of government reports, as of May 2023, out of 40 top most polluted cities in the world, 20 are from Asia-Pacific. In addition, in countries such as India, Japan, and China, a high level of air pollution is recorded. Furthermore, the expanding manufacturing industry, the presence of production facilities at a larger scale, and stringent government regulations related to the safety and quality of air are expected to propel the market growth in the coming years.
The most significant compressed air filter and dryer market players are Atlas Copco, Ingersoll Rand, PARKER HANNIFIN CORP, Pentair, Donaldson Company Inc., BOGE, Hitachi Global Air Power US LLC, and SPX Flow Inc.