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.
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.
Access Full Research Report by Grand View Research: http://www.grandviewresearch.com/industry-analysis/refrigerated-air-dryers-market
Further key findings from the study 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 more reports
of this category by Grand View Research: 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
Access press release
by Grand View Research: http://www.grandviewresearch.com/press-release/global-refrigerated-air-dryer-market
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, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information:
http://www.grandviewresearch.com
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