Cycling Refrigerated Air Dryers Market Size, Share, Growth, and Industry Analysis, By Type (Air-cooled, Water-cooled and Others), By Application (Energy, General Industry, Food & Pharmaceutical and Others) Regional Forecast to 2027

Updated On: 29 April 2024

cycling refrigerated air dryers market REPORT OVERVIEW

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The global cycling refrigerated air dryers market size was USD 284 million in 2020. As per our research, the market is projected to touch USD 419.9 million by 2027, exhibiting a CAGR of 6.0% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the cycling refrigerated air dryers market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The cycling refrigerated air dryer market is a subset of the air compressor and air treatment sector that focuses on cycling refrigerated air dryers. These dryers are critical components in compressed air systems, typically utilised to remove moisture and impurities from compressed air streams. They are often used in many industrial applications where clean and dry compressed air is essential to prevent equipment damage, ensure product quality, and maintain efficient operations. The market for cycle refrigerated air dryers has grown steadily over the years, owing to rising compressed air demand in industries such as manufacturing, automotive, pharmaceuticals, food and beverage, and others.

COVID-19 Impact: Pandemic Caused Disruptions and Reduced Industrial Activity Resulted in Decreased Market Share

Due to lockdowns and social distancing measures, many industries witnessed a halt or temporary cessation of operations. Because of the drop in industrial activity, there was a decrease in demand for compressed air systems and related equipment, such as cycle refrigerated air dryers. During the pandemic, certain industries adjusted their emphasis. Healthcare and pharmaceutical sectors, for example, had increased need for compressed air for medical equipment and vaccine production, while other sectors, such as automotive and aerospace, saw decreased demand. Lockdowns and travel restrictions make basic maintenance and servicing of cycle refrigerated air dryers impossible for businesses. In some circumstances, this could lead to reliability and performance difficulties.

LATEST TRENDS

"Technological Development, Energy Efficiency and Integration of IoT to Soar Up Market Potentially"

Technological advancements have resulted in more energy-efficient and ecologically friendly cycle refrigerated air dryers. Digital controls, variable-speed compressors, and enhanced refrigeration systems are among the advancements. IoT (Internet of Things) technology integration was gaining traction. Sensors and remote monitoring capabilities were built into smart cycling refrigerated air dryers. This enabled customers to monitor dryer performance, obtain real-time data on air quality and system health, and plan maintenance ahead of time, resulting in increased reliability and less downtime. The integration of IoT (Internet of Things) technology for remote monitoring and diagnostics, the development of smaller and more compact units, and the use of heat exchangers for greater efficiency are some new trends in the cycling refrigerated air dryer industry.

cycling refrigerated air dryers market SEGMENTATION

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• By Type

Based on type the market is classified as air-cooled, water cooled and others.

The air cooled is the leading part of the type segment.

• By Application

Based on application the market is classified as energy, general industry, food & pharmaceutical and others.

The part general industry is the leading type of the application segment.

DRIVING FACTORS

"The Energy Efficiency and Space Saving Designs to Reinforce the Market Growth "

Energy efficiency is a critical factor in the cycle refrigerated air dryer business. Manufacturers are creating dryers that can modify their operation based on actual compressed air demand, decreasing energy usage and operational costs. Energy efficiency has been a prominent trend in the cycle refrigerated air dryer market. Manufacturers were concentrating on building more energy-efficient machines by including features such as variable-speed compressors, smarter control systems, and improved heat exchangers. Due to space constraints in industrial buildings, producers developed more compact and space-saving cycling refrigerated air dryers. These smaller units were ideal for organisations with limited equipment space since they were easier to install in confined spaces. These developments intended to lower operational expenses for users while also meeting sustainability goals.

"Stringent Environment and Government Regulations to Witness Tremendous Market Growth"

Manufacturers have developed refrigeration systems that employ ecologically friendly refrigerants with lower global warming potential (GWP) in response to stringent environmental restrictions and an increasing emphasis on sustainability. Concerns about the environment drove the introduction of refrigerants with reduced Global Warming Potential (GWP). To comply with worldwide rules and sustainability goals, manufacturers were attempting to migrate from traditional refrigerants to more ecologically friendly alternatives.

RESTRAINING FACTOR

"Environmental Concerns, High Initial Installation and Maintenance Cost to Obstruct the Market Growth"

When compared to other types of air dryers, the initial purchase and installation costs of cycle refrigerated air dryers might be relatively costly. This initial outlay can be prohibitively expensive for certain businesses, particularly small businesses. Cycling refrigerated air dryers may need to be brought down for maintenance or repairs, resulting in a temporary stoppage of compressed air supply. To minimise downtime, proper planning and scheduling are required. The refrigerants used in cycle refrigerated air dryers might have an influence on the environment. To address these concerns, manufacturers are increasingly using environmentally friendly refrigerants with lower Global Warming Potential (GWP). However environmental concerns, the cost factor may have an effect on the overall utilization and hindering the cycling refrigerated air dryers market growth.

cycling refrigerated air dryers market REGIONAL INSIGHTS

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"North American Region to Dominate with Growing Demand from the End-Use Industries"

North America, notably the U.S. and Canada, has a developed cycling refrigerated air dryers market share. The existence of a diverse range of industries, including manufacturing, automotive, pharmaceuticals, and food processing, has fueled demand for compressed air systems and related equipment. Furthermore, an emphasis on energy efficiency and air quality compliance has aided in the region's adoption of cycle refrigerated air dryers.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

The market is highly competitive, with both international and domestic players. Major players are involved in the launch of new and improved products, collaborations, mergers and acquisitions, joint ventures, and other tactics. The research is an in-depth examination of a list of market participants who promote market growth. The data is a compilation of the most recent manufacturing industry trends, mergers and acquisitions, market research, and technology breakthroughs. To comprehend market share, product growth, revenue growth, and other variables over the forecast period, additional criteria such as regional and segmental analysis are considered.

List of Market Players Profiled

• Atlas Copco (Sweden)
• Ingersoll Rand (India)
• Parker Hannifin (U.S.)
• SPX Flow (U.S.)
• Sullair (U.S.)
• Gardner Denver (U.S.)
• Quincy (U.S.)
• Kaeser (Germany)
• Zeks (U.S.)
• Aircel (India)
• MTA (U.S.)
• Nano-purification (U.S.).

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study. The research report includes a study of a number of factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions.