Refrigerated Air Dryer Market Growth & Trends
The global refrigerated air dryer market size is expected to reach USD 2.63 billion by 2030, registering a CAGR of 6.7% from 2024 to 2030. 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.
Refrigerated Air Dryer Market Report Highlights
- The food and beverages industry secured 33.3% of the global market share in 2023. The food and beverage industry heavily relies on compressed air for various processes, including packaging, bottling, and quality control.
- The pharmaceutical industry has emerged as the fastest-growing segment at a CAGR of 7.0% in 2023. The industry’s growing emphasis on quality, energy efficiency, and expanding production drives the adoption of refrigerated air dryers.
- The Asia Pacific market accounted for over 34.4% of the overall share in 2023 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.
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Table of Content
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Refrigerated Air Dryers Market Variables, Trends, & Scope
Chapter 4. Refrigerated Air Dryers Market: Product Estimates & Trend Analysis
Chapter 5. Refrigerated Air Dryers Market: Application Estimates & Trend Analysis
Chapter 6. Refrigerated Air Dryers Market: Regional Estimates & Trend Analysis
Chapter 7. Competitive Landscape
Companies Mentioned
- Anest Iwata Corporation
- Atlas Copco Group
- Beko Technologies
- Donaldson Company
- Eaton
- Ingersoll Rand Inc.
- Kaeser Compressors, Inc.
- MTA
- Parker Hannifin Corporation
- SPX Corporation (DEltech)
- Risheng
- CompAir
- Air-Vac Systems LLC.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 120 |
| Published | August 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 1.67 Billion |
| Forecasted Market Value ( USD | $ 2.63 Billion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
