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Top 3 Drivers in Global Aftercooler Market | Technavio
[November 13, 2017]

Top 3 Drivers in Global Aftercooler Market | Technavio

Technavio market research analysts forecast the global aftercooler market to grow at a CAGR of close to 5% during the forecast period, according to their latest report.

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Technavio has published a new report on the global aftercooler market from 2017-2021. (Graphic: Busi ...

Technavio has published a new report on the global aftercooler market from 2017-2021. (Graphic: Business Wire)

The report has further segmented the global aftercooler market into two segments based on application (gas compressor and air compressor) and geography (EMEA, APAC, and the Americas).

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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global aftercooler market:

  • Growing demand from wastewater and water industry
  • Shift to energy-efficient compressors
  • Surge in HVAC replacements

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Growing demand from wastewater and water industry

Recently, along with the oil and gas an manufacturing industries, the wastewater treatment industry also gained considerable importance as an important end-user industry for compressors. For agitation to keep solids in suspension, drive the pumps to move the material, and to supply oxygen to support the processing bacteria, compressors are required in the wastewater sector. Globally, the demand for aftercoolers is expected to increase because of the rise in the number of such plants.

According to Gaurav Mohindru, a lead analyst at Technavio for tools and components research, "In manufacturing industries such as food and beverages, pharmaceutical, and pulp and paper, water is a crucial element. These industries are likely to have a significant impact on the global demand for water. Moreover, adherence to stringent environmental regulations and water conservation norms will be required due to increasing production activities in these manufacturing industries."

Shift to energy-efficient compressors

The necessity to focus on energy efficiency, followed by a reduction in emission levels by the oil and gas industry is growing due to climate change and global warming. The significant reduction of carbon emissions is the primary objective of increasing energy efficiency. The regional governments in Europe and North America have taken initiatives to ensure that the various equipment, such as compressors, motors, and pumps, used in industries comply with respective regional regulations.

The oil and gas industry has been encouraged to reduce its power consumption by replacing its old air compressors with new energy-efficient air compressors. For instance, Kaeser, in association with Siemens, has developed compressor controls incorporated with the latest technology. This comprises an industrial-based PC with an Intel (News - Alert) microprocessor inside it.

Surge in HVAC replacements

The demand for heating, ventilation, and air conditioning (HVAC) replacements is escalating due to the emphasis being put on bringing down the costs and improving energy efficiency. Furthermore, impetus is being added to the demand for HVAC replacements because of favorable government policies. The stable economic growth in the US has also influenced the replacement demand for HVAC systems. The replacement of these systems is expected to contribute to 50% of the growth in the US HVAC market.

"The investments in the replacement of old HVAC systems will increase due to the regulations on energy efficiency and the use of refrigerants. For instance, the phase-out of R-22 as a refrigerant in HVAC systems is slated for 2020. This will encourage owners to replace their existing HVAC units much before the phase-out period ends in 2020," says Gaurav.

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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