The global aftercoolers market is anticipated to witness major growth due to its efficacy across several application domains. Compressed air aftercoolers are expected to constitute a significant chunk of the market over the forecast period as they are essential to work in synchronization with stationary air compressors. Stationary air compression devices are expected to occupy a considerable share in the market due to their higher throughput as compared to their portable counterparts.
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Eco-friendly operative functionality, eminent energy efficacy, low maintenance costs, compactness, and ability to deliver variant pressure flow supplies are some of the aspects that play a key role in the aftercoolers market growth. Increasing raw material costs, high energy consumption, noise pollution, contamination, and bulky size may pose a challenge to market growth. Development of more energy-efficient mechanization and industrial automation are foreseen to amend the subtleties of the market. Limited performance deliverance is expected to hinder the market. As the market is at the maturity stage, only those manufacturers who segregate their equipment either by superior quality or by price are projected to emerge as beneficiaries. Surging applicability of compressed air treatment systems is expected to be one of the major drivers for the aftercoolers market growth.
The aftercoolers market can be segmented on the basis of numerous functional applications, such as portable aftercoolers, turbine coolers, filter pre-coolers, and turbine pro-filters. Water-cooled and air-cooled are the two derived offerings available in marketplace based on the effluent cooling functions they perform. Surging demand across the pharmaceuticals and food & beverages industries, which require sterile, oil-free, clean, and dry compressed air is expected to drive the aftercoolers market growth.
The aftercoolers business in Asia Pacific and Middle East is expected to endure on a course of elevated growth over the forecast period, on account of budding industrialization and liberalization of government policies. The North American aftercoolers business is expected to witness considerable growth over the forecast period. Latin America is also expected to show a steady growth rate over the forecast period.
The key market players include FS-Elliott, Caterpillar, Ingersoll Rand, Gardner Denver, Versatile International Corporation, Federal Mogul, and Cummins.
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