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.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/refrigerated-air-dryers-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.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/hvac-and-construction-technologies
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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