Air Compressor Filter and Compressed Air Dryer Global Market Opportunities and Strategies to 2033

This report describes and explains the air compressor filter and compressed air dryer market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global air compressor filter and compressed air dryer market reached a value of nearly $5.2 billion in 2023, having grown at a compound annual growth rate (CAGR) of 5.38% since 2018. The market is expected to grow from $5.2 billion in 2023 to $7.3 billion in 2028 at a rate of 7.22%. The market is then expected to grow at a CAGR of 8.08% from 2028 and reach $10.8 billion in 2033.

Growth in the historic period resulted from rising industrialization, strong economic growth in emerging markets and growth of the pharmaceutical industry. Factors that negatively affected growth in the historic period were the increase in raw materials costs.

Going forward, rising investments in infrastructure development, increasing investments in renewable energy projects, expansion of the automotive industry and fluctuations in oil and gas prices will drive the growth. Factor that could hinder the growth of the air compressor filter and compressed air dryer market in the future include restrictions on free trade.

The air compressor filter and compressed air dryer market is segmented by product type into compressed air dryers and compressed air filters. The compressed air dryers market was the largest segment of the air compressor filter and compressed air dryer market segmented by product type, accounting for 60.8% or $3.1 billion of the total in 2023. Going forward, the compressed air filters segment is expected to be the fastest growing segment in the air compressor filter and compressed air dryer market segmented by product type, at a CAGR of 7.86% during 2023-2028.

The air compressor filter and compressed air dryer market is segmented by application into condensed water removal, oil removal, particulate removal and other applications. The condensed water removal market was the largest segment of the air compressor filter and compressed air dryer market segmented by application, accounting for 41.3% or $2.1 billion of the total in 2023. Going forward, the oil removal segment is expected to be the fastest growing segment in the air compressor filter and compressed air dryer market segmented by application, at a CAGR of 7.49% during 2023-2028.

Asia-Pacific was the largest region in the air compressor filter and compressed air dryer market, accounting for 34.8% or $1.8 billion of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the air compressor filter and compressed air dryer market will be the Middle East and Africa where growth will be at CAGRs of 9.28% and 8.68% respectively. These will be followed by Eastern Europe and South America where the markets are expected to grow at CAGRs of 8.59% and 7.98% respectively.

The global air compressor filter and compressed air dryer market is fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up 6.85% of the total market in 2022. Atlas Copco AB was the largest competitor with a 1.20% share of the market, followed by Pentair with 0.86%, Hitachi, Ltd. with 0.81%, 3M Company with 0.71%, Eaton Corporation plc with 0.69%, Parker Hannifin Corporation with 0.66%, Siemens Energy AG with 0.63%, Cummins Inc. with 0.58%, Kobelco Compressors Corporation with 0.39% and SMC Corporation with 0.30%.

The top opportunities in the air compressor filter and compressed air dryer market segmented by product type will arise in the compressed air dryers segment, which will gain $1.2 billion of global annual sales by 2028. The top opportunities in the air compressor filter and compressed air dryer market segmented by application will arise in the condensed water removal segment, which will gain $859.63 million of global annual sales by 2028. The top opportunities in the air compressor filter and compressed air dryer market segmented by industry vertical will arise in the automotive segment, which will gain $697.42 million of global annual sales by 2028. The air compressor filter and compressed air dryer market size will gain the most in the USA at $455.62 million.

Market-trend-based strategies for the air compressor filter and compressed air dryer market include focus on launch of innovative products to meet environmental demands, introduction of mid-size industrial compressors with smart technology, new remote smart app compressor controller for remote operation and monitoring, strategic partnerships and acquisitions to expand product range and capabilities, expansion of new facilities to increase productivity and customer base, advancements in air filtration technology, introduction of new AR premium series dryers set to revolutionize air compression efficiency.

Player-adopted strategies in the air compressor filter and compressed air dryer market include focus on include focus on strengthening its business operations through new product launches, new product developments and strengthening its business operations through strategic partnerships.

To take advantage of the opportunities, the analyst recommends the air compressor filter and compressed air dryer companies to focus on innovation for sustainable growth, focus on advanced mid-size industrial compressors, focus on advanced remote smart app compressor controllers, focus on facility expansions for increased productivity, focus on innovations in air filtration technology, focus on compressed air filters segment, focus on strategic partnerships and acquisitions, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions, focus on condensed water removal and oil removal application segments and focus on automotive and oil and gas segments.