What is Global Refrigerated Air Dryers Market?
The Global Refrigerated Air Dryers Market is a vast and dynamic sector that has been gaining significant attention in recent years. This market revolves around the production, distribution, and use of refrigerated air dryers, which are devices used to remove water vapor from compressed air. They work by cooling the air to near freezing point to condense the water vapor, which is then removed from the system. The dry air is then reheated to room temperature before being discharged. These devices are crucial in various industries where air purity is essential, such as food processing, pharmaceuticals, and electronics manufacturing. The market's value was estimated at US$ 993 million in 2022, and it is expected to grow to US$ 1500.3 million by 2029, with a compound annual growth rate (CAGR) of 6.0% from 2023 to 2029. This growth is driven by the increasing demand for these devices in various industries, technological advancements, and the rising awareness about the benefits of using refrigerated air dryers. However, the market is also facing challenges such as high installation and maintenance costs, and the availability of alternative drying methods. Despite these challenges, the market's future looks promising, with opportunities for growth in emerging markets and the development of energy-efficient products.
Cycling, Non-cycling in the Global Refrigerated Air Dryers Market:
The Global Refrigerated Air Dryers Market is divided into two main types: cycling and non-cycling. Cycling dryers are designed to switch on and off based on the air demand, making them energy-efficient and ideal for applications with varying air demand. On the other hand, non-cycling dryers run continuously, regardless of the air demand, making them suitable for applications with constant air demand. Both types have their advantages and disadvantages, and the choice between the two depends on the specific requirements of the application. The market for both types is growing, driven by the increasing demand in various industries. However, the market for cycling dryers is expected to grow at a faster rate due to their energy efficiency and cost-effectiveness.
Chemical, Food and Beverages, Pharmaceutical, Others in the Global Refrigerated Air Dryers Market:
The Global Refrigerated Air Dryers Market finds its application in various sectors such as chemical, food and beverages, pharmaceutical, and others. In the chemical industry, these devices are used to provide dry air for various processes, preventing moisture-related issues such as corrosion and product degradation. In the food and beverages industry, they are used to maintain the quality and safety of the products, as moisture can lead to microbial growth and spoilage. In the pharmaceutical industry, they are used to ensure the purity of the air used in various processes, preventing contamination and ensuring product safety. Other industries where these devices are used include electronics manufacturing, automotive, and oil and gas. The demand in these sectors is driven by the need for air purity, the increasing awareness about the benefits of using refrigerated air dryers, and the stringent regulations regarding air quality.
Global Refrigerated Air Dryers Market Outlook:
The global Refrigerated Air Dryers market, which was valued at US$ 993 million in 2022, is projected to reach a value of US$ 1500.3 million by 2029. This indicates a compound annual growth rate (CAGR) of 6.0% during the forecast period of 2023-2029. The top five players in this market currently hold a share of approximately 25%. This market's growth is primarily driven by the increasing demand for these devices in various industries, technological advancements, and the rising awareness about the benefits of using refrigerated air dryers. However, the market also faces challenges such as high installation and maintenance costs, and the availability of alternative drying methods. Despite these challenges, the market's future looks promising, with opportunities for growth in emerging markets and the development of energy-efficient products.
| Report Metric | Details |
| Report Name | Refrigerated Air Dryers Market |
| Accounted market size in 2022 | US$ 993 million |
| Forecasted market size in 2029 | US$ 1500.3 million |
| CAGR | 6.0% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | SMC, Parker Hannifin, Sullair, Donaldson, Ingersoll Rand., Atlas Copco, Hitachi, SPX Flow, Gardner Denver, CKD, MTA, Kaeser Compressors, ZEKS, Anest Iwata, Beko Technologies, Aircel |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
