The
global Refrigerated Air Dryer Market is expected to reach USD 1.59 billion by
2022, according to a new report by Grand View Research, Inc. It is primarily
accredited to several benefits offered, such as the low operating &
maintenance cost as well low initial capital investment. The capability to
provide variation, high-energy efficiency, portability, low maintenance cost,
and eco-friendly operations are other key factors projected to fuel the
industrial demand for refrigerated air dryers over the next seven years.
Furthermore,
the escalating need for purified air in applications such as food packaging is
projected to expedite the demand for air compression gears, thereby
complementing the Refrigerated Air Dryer Market growth. The growing need for
refrigerated air drying equipment in pharmaceutical industries for oxidation
processes, packaging, cleaning & conveying pills, as well as tablets &
capsules is also expected to fuel market demand over the next seven years.
Furthermore, several regulations imposed and standards set by the government
& concerned authorities, such as The NFPA 99 (National Fire Protection
Agency) Standard for Healthcare Facilities, is also expected to propel the
adoption of refrigerated air dryers. In addition, Food and Drug Association
(FDA) enforced regulations for eradicating polluted air containing indirect
additives under 12CFR 11.40, which is anticipated to impact the Refrigerated
Air Dryer Market growth favorably over the forecast period.
In depth research report on Refrigerated Air Dryer
Market
Further key findings from the report suggest:
·
Cycling dryers accounted for
over 40% of the overall volume in 2014 and are expected to witness a substantial
growth at a CAGR exceeding 8.0% from 2015 to 2022. This increase is ascribed to
the deployment of advanced sensors technology in the newly developed products
that automate the entire air drying process.
·
The chemical application
segment captured a sizeable market share accounting for over 20% of the overall
revenue in 2014. It is owing to the development of innovative chemical products
such as biodegradable plastic, wherein these facilities call for compressed air
drying equipment. The demand in the food & beverages industry exceeded USD
200.0 million in 2014 on account of the stringent regulations and standards
imposed on food manufacturing & processing industries.
·
In 2014, the pharmaceutical
segment accounted for over 10% of the overall shipments. It is attributed to an
upsurge in demand for treated compressed air in clean rooms and pneumatic
systems that convey drugs in powder form.
·
The Asia Pacific market
accounted for over 30% of the overall share in 2014 and is estimated to exhibit
healthy growth over the forecast period due to the growing industrialization in
this region, particularly in China and India
·
The evolving consumer lifestyle
in North America is expected to drive a healthy demand for processed food,
thereby driving the product demand. Furthermore, the establishment of new food
processing industries in the U.S. may open avenues for product manufacturers.
·
The key industry participants
include Atlas Copco Group, Donaldson Company, Eaton Compressors and
Fabrication, Inc., Gardner Denver Inc., Ingersoll Rand Inc., and Parker
Hannifin Corporation. Companies focus on providing products with value-added
services, such as international warranties and customized solutions, to gain
competitive advantage.
Grand
View Research has segmented the global refrigerated air dryer market based on
product, application, and region:
Refrigerated Air Dryer Product Outlook (Revenue, USD
Million, Volume, Thousand Units; 2012 - 2022)
·
Cycling
·
Non-Cycling
·
Others
Refrigerated Air Dryer Application Outlook (Revenue,
USD Million, Volume, Thousand Units; 2012 - 2022)
·
Chemical
·
Paper
·
Food & Beverages
·
Pharmaceutical
·
Healthcare
·
Others
Refrigerated Air Dryer Regional Outlook (Revenue,
USD Million, Volume, Thousand Units; 2012 - 2022)
·
North America
·
Europe
·
Asia Pacific
·
RoW
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About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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