Air Audit Equipment Market While Recording A CAGR Of 2.8% During The Forecast Period 2022-2032, Future Market Insights Inc.
The global air audit equipment market is expected to be worth US$ 12,850.8 million by 2032, with a CAGR of 2.8% from 2022 to 2032. The automotive industry is expected to be a significant consumer of air audit equipment during the forecast period, thereby supporting market growth. As of 2022, the market is likely to reach US$ 9,749.9 Million, representing a Y-o-Y incline worth 2.8% from 2021.
Air audit equipment are used by various end use industry to improve system reliability, reduce unscheduled downtime, increase productivity and reduce energy and repair cost. Air audit will help you identify and define your system problems, whether they are in distribution, supply or demand and recommending solutions, permitting you to meet your return on investment goals.
The different equipment used in air audit are particle counter, pressure meter, flow meter, differential pressure meter, leak detector and energy meter. Air audits are executed to form a baseline of energy consumption for a compressed air system. Through data logging and careful review of compressed air system, these baseline are determined along with an analysis of the utility data.
Air audit equipment are used by various end-use industries, such as automotive, oil & gas, food & beverages and chemical and petrochemical industries. Among these, audit equipment are highly used by the oil & gas and food & beverages industries.
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Global Air Audit Equipment Market: Dynamics
Air audit equipment reduces the annual spending and overall operation budget, which is expected to be a major factor driving the growth of air audit equipment market over the forecast period. Moreover, leakage is a significant source of wasted energy. An audit equipment can quickly identify the biggest leaks currently affecting the energy consumption.
This will give traction to the growth of air audit equipment market in the near future. Furthermore, air audit equipment ensures that all the equipment are operating at peak performance, provides safety to the workers and speed up processes in production by upgrading inefficient equipment. These are the factors which will further drive the air audit equipment market during the forecast period.
That apart, the different benefits of air audit equipment such as avoid purchase of new equipment and identify silent leaks will also add to the growth of market.
Lack of commercialization is expected to be a major factor hampering the growth of the air audit equipment market over the forecast period. Moreover, unfavorable economic conditions and renewable source of energy also act as a restraining factor to the growth of air audit equipment market in the near future. Furthermore, slowdown in the demand of equipment will further obstruct the growth of the market.
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Global Air Audit Equipment Market: Participants
Examples of some of the market participants identified across the value chain of the global air audit equipment market include:
- Elgi Equipments Ltd
- Nessco Pressure Systems
- Forbes Marshall
- SMC Corporation
- AIRFILTER ENGINEERING
- Peerless Energy Systems
- HTE Technologies
- Air Energy
- US Equipment
- Northern Dock Systems Inc.
- ANGSTROM PTE LTD
- HTE Technologies
- MGM Industrial Solutions
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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Key Segments Profiled in the Global Air Audit Equipment Market Report
Air Audit Equipment Market by Equipment Type:
- Air Audit Particle Counter
- Air Audit Oil Vapor Measurement
- Air Audit Pressure Meter
- Air Audit Flow Meter
- Air Audit Differential Pressure Meter
- Air Audit Leak Detector
- Air Audit Energy Meter
- Air Audit Dew Point Meter
Air Audit Equipment Market by End Use:
- Air Audit Equipment for Automotive
- Air Audit Equipment for Oil & Gas
- Air Audit Equipment for Food and Beverage
- Air Audit Equipment for Power Generation
- Air Audit Equipment for Mining
- Air Audit Equipment for Chemical and Petrochemical Plants
Air Audit Equipment Market by Region:
- North America Air Audit Equipment Market
- Latin America Air Audit Equipment Market
- Europe Air Audit Equipment Market
- Asia Pacific Air Audit Equipment Market
- Middle East and African Air Audit Equipment Market
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Published Wed, 13 Jul 2022 19:47:23 -0500