Compressed Air Treatment Equipment Market Analysis, Size, Share, Growth and Forecast to 2024 | Hexa Research
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Compressed Air Treatment Equipment Market Analysis, Size, Share, Growth and Forecast to 2024 | Hexa Research
" The Compressed Air Treatment Equipment Market size is projected to expand at a CAGR over 6.3 % over the forecast period( from 2016 to 2024)."
The global compressed air treatment equipment market size is projected to grow at a healthy CAGR of 6.3 % during the forecast period( from 2016 to 2024). It may surpass USD 11 billion by 2024. Surging demand for compressed air treatment systems across various applications is projected to drive the market. Compressed air treatment systems are utilized by a number of companies globally. This in turn has increased the number of air treatment equipment installations worldwide. The need for such installations arises from the strict implementation of air quality standards in the target application areas. This could boost the global market in the forthcoming years.
A number of regulatory standards and mandates have been created to support the production & use of clean air. Industry trends suggest that this could contribute significantly to global demand. However, the uninterrupted supply of compressed air production facilities calls for regular maintenance. Equipments for compressed air treatment are generally quite expensive. Furthermore, their energy consumption is also very high. These are a few factors that may hinder the demand for compressed air treatment equipment in the years to come. However, technological advancements and the popularity of energy efficient equipment across numerous applications can create avenues for further growth.
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