Europe Compressed Air Treatment Equipment Market Value was over USD 2,833.5 million in 2019 and the market will grow at 4.6% CAGR up to 2026.
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Rising need for highly pressurized air in manufacturing sector will propel Europe market demand by 2026. These equipment are utilized as a input power source to run pneumatic tools for variety of purpose including cleaning, supplying breathing air, etc. Additionally, manufacturing companies require bulk amount of compressed air for continuous period of time, which makes the equipment an ideal & cost effective solution. Increasing need for high quality compressed air in end-user industries such as, food & beverages, pharmaceuticals, medical, etc. will drive product demand over 2020 to 2026.
High maintenance cost associated with compressed air treatment equipment will slow down market growth rate during 2016 to 2026. According to Compressed Air and Gas Institute (CAGI), a poorly maintained compressors can result into net loss of USD 3.2 billion in wasted utility payments every year. Additionally, growing concerns toward green house gas emission in manufacturing sector will attenuate share of compressed air treatment equipment in coming years.
Coronavirus outbreak is set to decline European compressed air treatment equipment market revenue by more than 7% in 2020 over previous year. Countries that have face major hit due to pandemic includes, Italy, the UK, Spain, etc. during first half of 2020. Shutdown or partial continuation of industrial facilities followed by stringent social distancing norms have created losses in sales of these equipment. However, industry will recover rapidly post 2021 owing to reopening of industrial facilities and manufacturing plants.
Filters segment is expected to account for 35% share of Europe market during 2020 to 2026. Among filters category, high temperature after filters will report substantial growth due to their capability to cope up high temperature upto 230ºC. These filters assist in prolonging cartridge life and are capable to remove fine desiccant particles.
Instrument air segment will exceed at a CAGR of 5% in Europe market from 2020 to 2026. These can be attributed to increasing requirement of compressed air in different critical instruments, such as relays, transmitters, gauges, recorders, converters, indicators & thermostats, etc. Growing focus on industrial automation driven by availability of advanced technologies and manufacturing processes is creating demand for precision instruments. Such factors will further propel Europe market development by 2026.
Healthcare sector will be growing at significant rate in Europe compressed air treatment equipment industry from 2020 to 2026. Europe’s healthcare expenditure accounts for around 9.5% of its GDP, which includes both public as well as private sector spending. Air supply in medical and pharmaceutical sector must comply to wide range of strict government regulations & standards. In medical facilities and hospitals, many procedures are operated by compressed air including anesthesia, oxygen supply to wards, and dental work due to the safer, faster, & more comfortable operations. Such factors will be accelerating product demand in healthcare sector over coming years.
Europe compressed air treatment equipment market is expected to generate over USD 3 billion in 2026. This can be mainly contributed to growing product demand in industrial and manufacturing sector. In 2018, the region reported more than USD 5,300 billion value of sold production from mining & quarrying and manufacturing sector. Italy, France and the UK accounted for a combined share of 37% in European sold volume of production. These trends are proliferating product demand in industrial sector of the region.
Key manufacturers included in Europe compressed air treatment equipment sector are Chicago Pneumatic, Atlas Copco, SPX Flow, Omega Air, MTA S.p.A., Aerzener Maschinenfabrik GmbH, Beko Technologies Corp, Boge Compressor, compare Holdings, Curtis-Toledo, Ingersoll Rand, Kaeser Kompressoren SE, Mann+Hummel Purolator, FRIULAIR S.r.l., Parker Hannifin, Pentair, Precision Filtration Products, Quincy Compressor, Sullair LLC and Walker Filtration.
The industry is moderately fragmented with top companies accounting for considerable share of overall market. Some of the key strategic initiatives undertaken by top companies includes, strategic acquisitions, new product developments, capacity expansion, etc. These companies have also formed strong relationship with suppliers and distributors, which further restrict entry of new players in the industry. Stringent government regulatory in European region will further provide challenges to compressed air treatment equipment companies by 2026.