Compressed Air Treatment Equipment Market Size, Share & Trends Analysis Report By Product (Filters, Dryers, Aftercoolers), By End Use (Chemical, Food & Beverages), By Application, By Region, And Segment Forecasts, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the compressed air treatment equipment market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for compressed air treatment equipment market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of compressed air treatment equipment market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Compressed Air Treatment Equipment Market Categorization:

The compressed air treatment equipment market was categorized into four segments, namely product (Filters, Dryers, Aftercoolers), application (Plant/Shop Air, Instrument Air, Process Air, Breathing Air), end-use (Chemical, Food & Beverages, Automotive, Pulp and Paper, Pharmaceutical), and region (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa)

Segment Market Methodology:

The compressed air treatment equipment market was segmented into product, application, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The compressed air treatment equipment market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into fifteen countries, namely, the U.S., Canada, Mexico, Germany, the UK, France, Italy, China, India, Japan, South Korea, Brazil, Argentina, South Africa, Saudi Arabia.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Compressed air treatment equipment market companies & financials:

The compressed air treatment equipment market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Atlas Copco AB - Atlas Copco AB is one of the leading industrial companies engaged in providing compressors, air treatment systems, vacuum solutions, industrial powers tools, assembly systems, and power and flow solutions. It operates in four business areas: compressor technique, vacuum technique, industrial technique, and power technique. The compressor air treatment equipment market products are provided through the compressor technique segment. The segment offers compressed air solutions, industrial compressors, gas and processor compressors, expanders, air and gas treatment, and air management systems. The segment also offers compressor-related services across the globe, mainly for manufacturing and process industries. In addition to it, the company's product development and manufacturing units are located in the U.S., China, Belgium, India, Germany, and Italy. Moreover, the company has a wide geographical presence in more than 180 countries. The company focuses on innovation by investing in research and development, sales and marketing, and service offering. It also focuses on improving client engagement through digital channels and enhanced CRM systems. As of 2019, the company has made 14 business acquisitions that have helped strengthen its market presence worldwide. It competes with leading brands and regional and local competitors, including Ingersoll-Rand, Kaeser, Hitachi, and Parker Hannifin.

• Airfilter Malaysia - Airfilter Malaysia is a privately held company that manufactures compressed air and gas purification products. It sells compressed air filters and elements to the small domestic market. The company-wide range of products includes filters, adsorbers, separators, dryers, elements, condensate drains, gas generators, and others. The products meet the recommendations and requirements of ISO8573 and the European Pressure Equipment Directives (PED 97/23/EC) for compressed air quality. Airfilter Malaysia is an ISO 9001 and Lloyds Register Quality Assurance (LRQA) certified company and works with original equipment manufacturers (OEMs) such as compressor and dryer manufacturers to customize and privately labeled products. The company markets its products worldwide through a global distribution network and has subsidiary offices in Germany and associated offices in Singapore and Malaysia.

• Alpha-Pure Corporation - Alpha-Pure Corporation is a privately held company engaged in manufacturing filters, purifiers, and condensate management products. The company offers its products to various vital markets, including pharmaceutical & high tech, steel & foundries, medical, hospitals & labs, energy & gas turbines, mining, and transportation. Additionally, Alpha-Pure Corporation manufactures HEPA and molded carbon panel filters that remove Volatile Organic Compounds (VOCs) in highly controlled industries such as semiconductors and electronics.

• BEKO Technologies - BEKO Technologies is a privately held company that manufactures and sells components and systems for compressed air processing and condensate technology. Furthermore, it also offers a range of services, including maintenance and cleaning of compressed air plants, leak and pressure measurement, volume-flow, and online calculation tools to plan a compressed air system. The company's service portfolio mainly comprises maintenance, measurement, and training; BEKO Technologies offers products, solutions, and services to a wide range of industries that include automotive, food and beverages, chemical, pharmaceutical, machine engineering, electronics, metalworking, and medical sectors. BEKO Technologies is an active members in industry association that include Verband Deutscher Maschinen- und Anlagenbau e.V. (VDMA), Bundesverband mittelständische Wirtschaft (BVMW), and others. As of 2020, it has over 14 offices worldwide with 6 production facilities and 4 manufacturing plants in Germany, India, China, and the U.S.

• BOGE - BOGE is a privately-held company that manufactures industrial compressors and compressed air systems. It designs and manufactures a range of products that include scroll and turbo compressors, oil-lubricated and oil-free screw compressors, control units, compressed air accessories, piston compressors, heat recovery devices, and customized solutions. It offers products, solutions, and services to various industries, including automotive and commercial vehicles, food and beverages, chemical, pharmaceutical, machine engineering, storage and transportation, Textile, metalworking, and others. BOGE is also an active member of a different industry association that includes intelligent Technische Systeme OstWestfalenLippe (OWL), VDMA, BCAS, CAGI, Food-Processing Initiative e.V. As of 2020, BOGE has its production sites in Germany and China. Its sales force team, subsidiaries, and retailers manage its global sales operation. Also, it has 13 subsidiary companies in the U.S., Australia, and India. Furthermore, it offers products and services across the U.K., U.S,., Canada, China, France, Iberica, India, Italy, Mexico, the Netherlands, Singapore, Australia, Austria, Belgium, and some countries of the Middle East & Africa.

• Chicago Pneumatic - Chicago Pneumatic, one of Atlas Copco brands, manufactures air compressors, power tools, light towers, generators, and hydraulic equipment for industrial and professional applications. The power tools business offers pneumatic tools, cordless tools, workshop equipment, and other accessories. Furthermore, the compressor's product portfolio includes screw air compressors, piston compressors, CNG compressors, air treatment solutions, and cast iron Piston Air compressors. The range of air treatment solutions includes compressed air treatment, compressed air distribution systems, condensate treatment, and energy-saving solutions. It also contains dryers and filters. Chicago Pneumatic has a strong global distribution network and presence in the Americas, Europe, Middle East & Africa, and the Asia Pacific.

• Compressor and Parts Company - Compressor and Parts Company is one of the companies engaged in the aftermarket for compressor parts for leading brands worldwide. It supplies air treatment products, including zero-loss drain valves, drain valves, line filters, moisture filters, dryers, air piping solutions, and air audit programs. The company sells leading compressor brands, including Atlas Copco, Chicago Pneumatic, KASER, Ingersoll rand, ELGI, Sullair, Kirloskar, and BOGE. As of 2019, the company trades under the brand name CAPCO and has more than 1000 installations of products across the industry verticals. It also has warehouses in more than 16 countries and has international offices based in the U.S. and the UAE.

• Donaldson Company, Inc. - Donaldson Company, Inc. is one of the leading manufacturers of filtration systems and replacement parts. It operates in two operating business segments include engine products and industrial products. The industrial products segment comprises dust, fume, and mist collectors, gas and liquid filtration for food, beverage, and industrial processes, polytetrafluoroethylene (PTFE) membrane-based products air filtration systems for gas turbines, compressed air purification systems, and specialized air and gas filtration systems for applications including hard disk drives, sensors, indicators semiconductor manufacturing, and monitoring systems. The industrial products segment also sells its products through a distribution channel that includes dealers, distributors, original equipment manufacturers (OEMs), and end-users. The industrial product segment competitors vary from country to country and include regional and global competitors spanning North America, Europe, the Middle East & Africa (EMEA), Asia Pacific, and Latin America. Moreover, the U.S. accounted for 41% of the total sales revenue in the fiscal year 2020. In 2020, the company spent USD 62.3 million on R&D activities, including scientific research costs testing, technical IT, administrative, and allocation of corporate costs to apply for scientific advances.

• Gardner Denver - Gardner Denver is a globally recognized mission-critical flow control and compression equipment provider and associated aftermarket parts, consumables, and services. In 2019, Ingersoll Rand's industrial business segment merged with Gardner Denver to extend the latter's product portfolio of mission-critical industrial, energy, medical, and specialty vehicle products and services. The parent company, Gardner Denver, manufactures a comprehensive product portfolio of the compressor, pump, vacuum, and blower products. These products are sold under various brands, including Gardner Denver, Robuschi, CompAir, Elmo Rietschle, Emco Wheaton, Nash, and Thomas. Gardner Denver operates in three segments that include industrials, energy, and medical. The industrials segment comprises a wide range of products, including air compressors, vacuum, blower products, aftermarket parts, consumables, and services for various diverse end markets. The air compressor portfolio includes a wide range of products; rotary screws, scroll, centrifugal compressors, rotary vanes, and reciprocating pistons. These products are served across various industries that cover manufacturing, industrial facilities, service, and process industries in various end markets, including infrastructure, construction, transportation, food & beverage, packaging, and chemical processing. Gardner Denver competes with local, regional, and international brands. Some of them include Atlas Copco AB, IDEX Corporation, Colfax Corp., Kaeser Compressors, Inc., and Flowserve Corporation. It has a strong distribution network of 1000 distributors and representatives spanned across the Americas, Europe, Middle East & Africa (EMEA), and the Asia Pacific.

• GEM - GEM is an Indian-based firm specializing in manufacturing compressed air and cooling systems. It is also engaged in designing, engineering, and fabrication of air dryers, filters, air coolers, and receivers. The company's production unit consists of three sections: the manufacturing unit, the fabrication unit, and the testing unit. It also has a strong distribution spanned across the domestic and international markets. In India, the company has its operations in Maharashtra, Karnataka, Kerala, Andhra Pradesh, Punjab, Delhi, Madhya Pradesh, and Gujarat. Internationally, the company has its operations in Bangladesh, the Middle Eastern countries, and Sri Lanka. GEM serves its products to a wide range of industries incl, including  the automobile, cement industry, food industry, pharmaceutical, glass manufacturers, plastic, power plants, textile PET bottles, chemical fertilizer, air conditioning, and refrigeration plants.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Compressed Air Treatment Equipment Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2023, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Compressed Air Treatment Equipment Market Report Assumptions:

• The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.