Global Adsorption Equipment Market: Overview
Adsorption equipment are used to reduce the emission of carbon di oxide. These equipment bind molecules or particles to its surface hence prevent spreading of unwanted gas. It has several industrial applications. Some of the common end use industries of the adsorption equipment are perfume industry, automobile industry and chemical manufacturing industry.
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The top players in the adsorption equipment market are focusing on product portfolio diversification, technical assistance and application reach to tap several opportunities. Apart from this, players in the market are ramping their investments towards technological development in order to concretize their market share in the adsorption equipment market.
For instance- In October 2018, Dürr build a highly automated paint shop for VinFast, a Vietnam based automobile company. This automated paint shop is with the several advanced features. Some of them are advanced industrial IoT, multi integration and high occupational safety.
In the same year in August, CECO Environmental launched a product called retox regenerative thermal oxidizer (RTO) to help composites and laminating manufacturers improve overall equipment effectiveness.
Some of the most prominent competitors operating in the competitive landscape of global adsorption equipment market include –
- Evoqua Water Technologies LLC
- TIGG LLC
- Chemisch Thermische Prozesstechnik
- TAIKISHA LIMITED
- Environmental C & C Inc.
- Gulf Coast Environmental Systems
- Monroe Environmental Corp.
Global Adsorption Equipment Market: Key Trends
The global adsorption equipment market is soaring on the back of rising demand from end use industries. This is mainly due to the increasing need to control volatile organic compound emissions in industries such as automotive paints, chemical, printing, semiconductor, food & beverage, and pharmaceutical.
Adoption equipment are also used in the sewage treatment plant and waste management plant for adsorption of emission from harmful gases. The increasing number of sewage treatment plant and waste management across the globe is likely to offer a strong boost to the growth of the global adsorption equipment market.
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The stringent government regulations to reduce emission of VOC in the environment is one factor likely to increase the demand of adsorption equipment. This is turn is expected to drive the global adsorption equipment market
According to OICA (French organization of motor and vehicle manufacturers), vehicle production across the globe has increased by 2.4% as compared to 2016. This, in turn, creates high growth opportunities for the adsorption equipment market.
On the flipside, higher cost of these devices are expected to restrict small and mid-players form the adoption of adoption equipment. This may hamper the growth of the global adsorption equipment across the globe. However, strict government mandates to reduce the automobile emission could offer a lucrative avenue for the growth of the global adsorption equipment market.
Global Adsorption Equipment Market: Geographical Outlook
On the basis of geography global adsorption equipment market is segmented into Asia Pacific, North America, Europe, Latin America and the Middle East. Among all these regions, the adsorption equipment market in Asia Pacific is expected to hold a majority of share in the coming years. This is because of the presence of key consumer countries such as India, China and Japan in the region. The growing support by the governments of these region to reduce emission of VOC creates lucrative growth opportunities for the adsorption equipment manufacturers in the region.
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This post was originally published on Space Market Research