Refrigerated Air Dryer Market to Witness Astonishing Growth by 2027
Stratview Research delivers key insights on the global Refrigerated Air Dryer Market. According to Stratview Research, the market is estimated to grow at a decent CAGR of 5.1% during the forecast period to reach a value of US$ 310 Million in 2027.
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The present report can be of high utility for the key decision-makers and growth strategists in terms of precise market insights, forthcoming growth opportunities, and key success factors. Especially, the report also analyses and mentions the possible impact of COVID-19 on the market dynamics. This will not only help in mitigating the uncertain business environment, but also help in rearranging the strategies and future- decisions in a fruitful manner.
Key Players
The following are some of the key players in the Refrigerated Air Dryer Market:
Anest Iwata Corporation
Atlas Copco Group
BEKO Technologies GmbH
Donaldson Company, Inc.
Eaton Compressor
Gardner Denver, Inc.
Ingersoll Rand, Inc.
Kaesec Compressors Private Limited
Parker Hannifin Corporation
SPX Corporation (Deltech).
Growth drivers and Market Value:
This report, from Stratview Research, studies the Refrigerated Air Dryer Market value and growth drivers over the trend period of 2022-27. According to the report -
Refrigerated Air Dryer Market is likely to witness an impressive CAGR of 6.3% during the forecast period. The considerable factors responsible for the significant growth in the market are growing number of manufacturing units in developing countries including India, China, Brazil, and Taiwan, growing usage of pneumatic conveying systems in the food processing industry, and also increasing number of hospitals with the need for advanced medical tools during the forecast period.
Based on Application Type:
Based on the application type, the market is segmented as chemical, paper, food & beverages, pharmaceutical, healthcare, and others. Food & beverage is estimated to be the dominant application type in the market owing to its growing usage in food processing and packaging plants. There are various applications such as filling, processing, and closing gable-top cartons in the food & beverage industry fueling the market growth. Further, chemical industry is estimated to witness considerable growth rate in the market during the forecast period, the growth being attributed to its ability to offer a clean medium for pneumatic conveying which transfers chemicals in granular, powdered, and pellet forms.
Based on Region:
In terms of regions, North America is estimated to be the dominant region of the market owing to the growing number of food & beverage industries in the U.S. These products are utilized to enhance the quality of food by preventing any kind of contamination caused by moisture content. Further, Europe is expected to witness a significant growth rate during the forecast period, attributed to an increased demand across the medical sector, and various regulations on compressed air quality used in manufacturing processes, resulting in fueling the growth of the regional market. Asia-Pacific is also expected to offer substantial growth opportunities during the forecast period.
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FREQUENTLY ASKED QUESTIONS
The report answers several questions related to the market. The user can get to know the answers to the following questions…
- What is the global demand for Refrigerated Air Dryer Market in terms of revenue?
- Which are the prominent players in the market?
- At what CAGR is the market projected to grow within the forecast period?
- What are the driving factors fuelling the growth of the market?
- Which region accounted for the largest share in the market?
- How did the Covid19 impacted the market?
- How long will it take to recover from the Covid impact?
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