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Compressed Air Dryer Market

Compressed Air Dryer Market

Compressed Air Dryer Market Analysis by Type (Refrigerated Air Dryers, Desiccant Air Dryers, Chemical Air Dryers, Membrane Air Dryers), by Capacity, by Application Sector & Region - Global Forecast 2022-2032

Compressed Air Dryer Market
FACT3898MR

Compressed Air Dryer Market Outlook (2022-2032)

Global sales of compressed air dryers are estimated at US$ 3.5 Bn in 2022. Expanding at a CAGR of 6.5%, the global compressed air dryer market is slated to surpass a valuation of US$ 6.6 Bn by the end of 2032.

Report Attributes

Details

Compressed Air Dryer Market Size (2021A)

US$ 3.3 Bn

Estimated Year Value (2022E)

US$ 3.5 Bn

Projected Year Value (2032F)

US$ 6.6 Bn

Global Market Growth Rate (2022-2032)

6.5% CAGR

North America Market Share (2021)

~30%

North America Growth Rate (2022-2032)

6% CAGR

Top 5 Companies’ Market Share (2021)

~35%

Key Companies Profiled

  • Anest Iwata Corporation
  • Atlas Copco
  • Gardner Denver Inc
  • Hitachi, Ltd
  • Kaeser Kompressoren
  • Parker-Hannifin Corporation

As per the revised analysis by Fact.MR, worldwide sales of compressed air dryers accounted for around 30% share of the global dryer system market in 2021. This share is expected to increase to 32%-35% by the year 2032. Expanding application of compressed air dryers in manufacturing facilities is projected to complement market growth over the coming years.

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Sales Analysis of Compressed Air Dryers (2017-2021) Vs Market Outlook (2022-2032)

The global compressed air dryer market registered growth at around 2% during the historical period (2017-2021). Due to COVID-19 pandemic, the market witnessed a slump in demand, resulting in a fall of 4.5% in 2020.

Compressed air dryers have seen significant growth over the past few years due to versatile applications in various end-use industries, including the healthcare & medical sector. Manufacturers have increased their production capacity to cater to rising demand in the past few years.

In the healthcare industry, medical air dryers are used for patient care and are designed to eliminate water vapor during the compressing of air. The global healthcare industry witnessed 18.2% cumulative growth in the past 2 years, and this trend is likely to surge product penetration by 2.5X in the healthcare industry by 2032.

In addition, Fact.MR’s industrial team has gone through crucial factors of the market that outline the growth trajectory, including industry preference, potential of capacity expansion in end-use industries, end-use industry growth trends, and regional macro and micro factors. After diagnosing these parameters, the market is estimated to be valued around US$ 3.5 Bn in 2022 and presumed to expand at a CAGR of 6.5% through 2032.

What’s Majorly Giving Impetus to Demand for Compressed Air Dryers?

“Growing Industrialization across Regions to Drive Product Demand”

Rising industrialization will provide a lucrative avenue for the utilization of compressed air dryers in various industries such as automotive, aerospace/defense, chemicals & petrochemicals, oil & gas, power & utility, and other end-use verticals. These dryers prevent hydrates and scale formation in air compressors by eliminating vapor content. This scenario is likely to generate ample opportunities for compressed air dryer suppliers across the world.

Moreover, increasing application in various end-use verticals is likely to surge product penetration in manufacturing facilities. In addition, compressed air dryers are associated with various benefits; they improve the lifespan of air compressors by eliminating the risk of corrosion, scale, and hydrate formation.

European Union industrial production witnessed a rise of 3% in October 2021 as compared to October 2020. Such trends are set to surge demand for compressed air dryers by 2.5X over the forecast period. A similar trend of industrialization growth can be observed across North America, East Asia, and South Asia & Oceania, which is likely to drive demand for compressed air dryers across these regions.

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Which Region Showcases Exceptional Growth for Compressed Air Dryer Manufacturers?

“Europe to Remain Huge Market for Compressed Air Drying Systems”

Europe is expected to be the most attractive market for compressed air dryers, with an incremental dollar opportunity of roughly US$ 800 Mn. Key countries in the region are Germany, the U.K., France, Russia, and Spain. High concentration of manufacturing facilities, rising disposable income, consistent economic expansion, easy availability of raw materials, and a slew of favorable government initiatives are all expected to boost market growth over the projection period.

Germany has high potential owing to manufacturing plants that are prominently aided by the automobile sector. Industries’ rising product optimization levels are predicted to stimulate demand during the assessment period.

Compressed Air Dryer Market forecast analysis by Fact.MR

Country-wise Insights

Why is the U.S. a Leading Market for Compressed Air Dryers?

“High Level of Industrialization in U.S. Bodes Well for Market Players”

The U.S. market is expected to account for a large portion of the market share of compressed air dryers. The United States currently accounts for 91.3% of the market share in North America, and is expected to garner an absolute $ opportunity of US$ 765.1 Mn over the assessment period.

Prominent factors such as availability of large production facilities, adoption of advanced machinery, and ease in availability of raw materials are likely to drive air treatment equipment market expansion in the country.

In addition, multiple government programmes related to industrialization are expected to be the epicentre for the production and utilization of compressed air dryers and air dryer filters. Rapid industrialisation and expanding manufacturing facilities in the United States are predicted to open new doors for compressed air dryer manufacturers in the country.

Why are Compressed Air Dryer Manufacturers Looking towards China?

“China to Account for 60% Share in East Asia Market for Compressed Air Treatment”

East Asia is likely to be a lucrative market for air treatment equipment, followed by Europe, and is predicted to contribute significantly to the market's growth curve over the decade. China is likely to generate an absolute $ opportunity of US$ 298.3 Mn during the forecast period.

Due to rapid industrialization and expanding infrastructure, China is likely to dominate demand for compressed air dryers in the East Asia region. According to Fact.MR’s research, the China air compressor filter dryer market is predicted to expand at a CAGR of 6.3% accounting for around 60% market share in East Asia at the end of assessment period (2022-2032).

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Category-wise Insights

Which Type of Compressed Air Dryer Will Bring Rich Dividends for Suppliers?

“High Demand for Refrigerated Air Dryers being Witnessed”

Refrigerated air dryers captured more than 50% market share in 2021, with the segment expected to surge at a CAGR of 7% through 2032.

Refrigerant dryers have wide utility across multitude end-use industries, but pharmaceuticals & healthcare remains the pivotal point for demand. Requirement of super dry compressed air has propelled air treatment product demand, where the growing pharmaceutical and healthcare industry acts as a catalyst for compressed air treatment market growth.

Desiccant air dryer accounts nearly 30% market share and this is likely to remain an attractive segment in the market for air filters and related equipment. The segment is anticipated to surpass a market valuation of US$ 2 Bn by the end of 2032.

Which Application Will Lead to High Sales Volumes for Compressed Air Dryer Manufacturers?

“Application to Increase in Industrial Machinery”

Elevated industrialization has created abundant opportunities for manufactures of compressed air dryers to increase their production volumes over the past few years. Expanding applications of air treatment systems in oil & gas and aerospace/ defense are likely over the coming years.

The industrial machinery vertical is the most attractive segment in terms of product adoption and scalability. This application is anticipated to generate a valuation of US$ 790 Mn, rising at a promising CAGR of 8% over the decade.

In addition, other applications of compressed air systems such as in-situ combustion in oil & gas industries and electronics and galley cooling, and sampling and analysis of gases in the aerospace industry are attributed to push market development of compressed air dryers and air dryer filters in the near future.

Competitive Landscape: Top Companies in Compressed Air Dryer Market

Fact.MR evaluates that the compressed air dryer market is concentrated and a large share is encapsulated by tier-1 players operating at the global scale. Tier-1 compressed air dryer suppliers are focused on reliability, life expectancy, and technological advancements, whereas tier-2 manufacturers of compressed air systems are competing with competitive price points.

The global compressed air dryer industry is highly consolidated, with only a few tier-1 manufacturers controlling a large portion of the market. Focus of major players across the world is mostly on product development and distribution network expansion. Growing end-use industries are the primary driving force behind market expansion, which is expected to maintain its upward trend.

Key Segments of Compressed Air Dryer Industry Research

  • By Type:

    • Refrigerated Dryers
      •  Non-Cycling Refrigerant Dryers
      •  Cycling Refrigerant Dryers
    •  Desiccant / Adsorption Dryer / Regenerative Dryers
      •  Heatless Air Dryer
      •  Heated Air Dryer
      •  Heat of Compression
    •  Chemical Air Dryers
    •  Membrane Air Dryers
  • By Application Sector:

    • Aerospace & Defense
    •  Automotive
    •  Chemicals & Petrochemicals
    •  Electronics & Semiconductors
    •  Food & Beverages
    •  Industrial Machinery
      •  Heavy Machinery & Equipment
      •  Precision Machinery
    •  Metallurgy
    •  Oil & Gas
    •  Paper & Pulp
    •  Pharmaceuticals & Healthcare
    •  Power & Utility
    •  Others
  • By Capacity:

    • <500 m3/hr
    •  500-2,000 m3/hr
    •  2,000-4,000m3/hr
    •  4,000-10,000m3/hr
    •  >10,000 m3/hr
  • By Region:

    • North America Compressed Air Dryer Market
    • Latin America Compressed Air Dryer Market
    • Europe Compressed Air Dryer Market
    • East Asia Compressed Air Dryer Market
    • South Asia & Oceania Compressed Air Dryer Market
    • MEA Compressed Air Dryer Market

- FAQs -

Global value of the compressed air dryer market is estimated to be worth over US$ 3.5 Bn in 2022.
Demand for compressed air dryers is anticipated to surpass US$ 6.6 Bn by 2032-end.
During 2017-2021, the global compressed air dryer market increased at 2% CAGR.
Some of the prominent players operating in this industry are Hitachi, Atlas Copco, and Parker Hannifin.
North America tops the global market accounting for around 30% market share in 2022.
Refrigerated dryers contribute 50% market share in the global sales of compressed air dryers.

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