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Global Compressed Air Treatment Equipment Market Report 2023: Expansion of the Healthcare and Pharmaceutical Sectors Bolsters Growth
DUBLIN, May 26, 2023 /PRNewswire/ -- The "Compressed Air Treatment Equipment Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global compressed air treatment equipment market is expected to grow from $8.27 billion in 2022 to $8.90 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The compressed air treatment equipment market is expected to reach $11.42 billion in 2027 at a CAGR of 6.4%.
Major players in the compressed air treatment equipment market are Atlas Copco, Airfilter Engineering, BEKO Technologies Corp., BOGE KOMPRESSOREN Otto Boge GmbH & Co. KG, Chicago Pneumatic, Ingersoll-Rand, MANN+HUMMEL International GmbH & Co. KG, Kaeser Compressors Inc., Alpha-Pure Corporation, Donaldson Company Inc., Parker Hannifin Corporation, Gardner Denver Inc., Pentair plc., Seneca Companies Inc., Precision Filtration Products, and ZEKS Compressed Air Solutions Inc.
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Compressed air treatment equipment refers to a pneumatic device that converts power into potential energy stored in pressurized air. It is used to provide the purity of compressed air needed for the application by removing any unwanted contamination.
The main products of compressed air treatment equipment are filters, dryers, and aftercoolers. Filters refer to In order to separate out the floating matter, a gas or liquid is passed through a substance. The various applications involved are plant air, instrument air, process air, and breathing air which are used by end users such as chemical, food and beverage, healthcare, pharmaceuticals, automotive and others.
Product innovation is a key trend gaining popularity in the compressed air treatment equipment market. Major companies operating in compressed air treatment equipment are focused on developing innovative solutions to strengthen their position in the market.
In January 2023, Ingersoll Rand, a US-based equipment company that provides flow creation and industrial products acquired SPX FLOW Inc., for $525 million. With this acquisition, Ingersoll Rand hopes to strengthen its position in key product categories, increase its exposure to end markets with strong growth potential and advance its core compressor products to show that commitment. SPX FLOW Inc., is a US-based high-quality compressed air treatment products manufacturing company.
Asia-Pacific was the largest region in the compressed air treatment equipment market in 2022. The regions covered in compressed air treatment equipment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the compressed air treatment equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The expansion of the healthcare and pharmaceutical sectors is expected to propel the growth of the compressed air treatment equipment market going forward. The healthcare and pharmaceutical sectors refer to businesses that provide healthcare services, make medical products, provide medical insurance, or manufacture drugs and medications.
Compressed air treatment equipment is used in healthcare and pharmaceuticals to keep patients breathing and comfortable while supplying clean and dry air. Most healthcare institutions use purified compressed air, which removes impurities and makes products safer.
For instance, in September 2022, According to a report released by Zippia Inc., a US-based online recruiting service provider, the US pharmaceutical sector is expected to produce $550 billion in yearly revenue in 2021. In addition, the pharmaceutical industry anticipates spending $635 billion on drugs by 2025. The GDP proportion of healthcare in the United States, which was 18.3% in 2021, is expected to climb over time.
Therefore, expanding the healthcare and pharmaceutical sectors is driving the growth of the compressed air treatment equipment market.
The compressed air treatment equipment market consists of sales of rotary screw compressors, vacuum pumps, air system piping, high-pressure filters, and compressed air filtration. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Key Topics Covered:
1. Executive Summary
2. Compressed Air Treatment Equipment Market Characteristics
3. Compressed Air Treatment Equipment Market Trends And Strategies
4. Compressed Air Treatment Equipment Market - Macro Economic Scenario
4.1. COVID-19 Impact On Compressed Air Treatment Equipment Market
4.2. Ukraine-Russia War Impact On Compressed Air Treatment Equipment Market
4.3. Impact Of High Inflation On Compressed Air Treatment Equipment Market
5. Compressed Air Treatment Equipment Market Size And Growth
5.1. Global Compressed Air Treatment Equipment Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Compressed Air Treatment Equipment Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Compressed Air Treatment Equipment Market Segmentation
6.1. Global Compressed Air Treatment Equipment Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
6.2. Global Compressed Air Treatment Equipment Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Plant Air
- Instrument Air
- Process Air
- Breathing Air
6.3. Global Compressed Air Treatment Equipment Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Food And Beverage
- Other End users
7. Compressed Air Treatment Equipment Market Regional And Country Analysis
7.1. Global Compressed Air Treatment Equipment Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Compressed Air Treatment Equipment Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/iv9gks
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