Global Aftercooler Market 2017-2021
Aftercoolers are a type of heat exchangers used for cooling the discharge from air or gas compressors. Generally, aftercoolers use either water or air to remove the moisture from the compressed air efficiently. Aftercoolers help in reducing the amount of water vapor in a compressed air system by condensing the water into a liquid form. Aftercoolers coupled with a separator reduce the moisture in air compressed systems efficiently. Also, aftercoolers help in ensuring the proper functionality of pneumatic and air handling devices that are used in manufacturing processes, as the air containing moisture can damage the equipment. For instance, a 200 scfm compressor operating at 100 psig introduces 45 gallons of water into the compressed air system each day in the absence of aftercoolers.
Technavio’s analysts forecast the global aftercooler market to grow at a CAGR of 4.91% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global aftercooler market for 2017-2021. To calculate the market size, the report considers the new installations.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global AfterCooler Market 2017-2021
Technavio recognizes the following companies as the key players in the global aftercooler marketAtlas Copco, EJ Bowman, Gritco, KAESER KOMPRESSOREN, SMC, and Van Air
Other Prominent Vendors in the market are: Aggreko, AIR/TAK, Aircel, API Heat Transfer, Axxiom Manufacturing, CASTAIR, Caterpillar, Donaldson-Ultrafilter, Drytech Engineers, FRIULAIR, Globe Airmotors, Hankison International, Impact RM, Ingersoll-Rand, MTA, Officine Meccaniche Industriali, PARKER HANNIFIN, Pneumatech, Southwest Thermal Technology, Ultrafilter Skandinavien, Vestas Aircoil, VMAC Global Technology, and Xylem.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Economy and energy security. Fossil fuel reserves in the world are limited, which had turned the focus on alternative sources of fuel such as biogas and biofuels, which diversify the energy mix and helps in reducing the dependency on petroleum products”
According to the report, one of the major drivers for this market is Growing demand from wastewater and water industry. In recent times, the wastewater treatment industry has gained considerable importance as an important end-user industry for compressors, apart from the oil and gas and manufacturing industries. The wastewater sector requires compressors for agitation to keep solids in suspension, drive the pumps to move the material, and to supply oxygen to support the processing bacteria. Therefore, an increase in the number of such plants worldwide is expected to fuel the demand for aftercoolers globally. The reason for the growth of the wastewater and water industry can be attributed to the rapidly growing population, increased manufacturing activities, and the steady growth in oil and gas production.
Further, the report states that one of the major factors hindering the growth of this market is Volatility in oil and gas prices. Global crude oil prices witnessed a sudden decline in mid-2014, owing to the oversupply of oil. While prices have recovered since then, they are still much lower than the 2014 levels. Since the oil and gas industry is a significant end-user of air compressors, the decline in prices has resulted in a sluggish demand.
Atlas Copco, EJ Bowman, Gritco, KAESER KOMPRESSOREN, SMC, Van Air, Aggreko, AIR/TAK, Aircel, API Heat Transfer, Axxiom Manufacturing, CASTAIR, Caterpillar, Donaldson-Ultrafilter, Drytech Engineers, FRIULAIR, Globe Airmotors, Hankison International, Impact RM, Ingersoll-Rand, MTA, Officine Meccaniche Industriali, PARKER HANNIFIN, Pneumatech, Southwest Thermal Technology, Ultrafilter Skandinavien, Vestas Aircoil, VMAC Global Technology, and Xylem.