Air Audit Equipment Market Is Projected To Expand At A 2.8% CAGR By 2032 – FMI

The global air audit equipment market is expected to be worth US$ 12,850.8 million by 2032, with a CAGR of 2.8 per cent 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 is used by various end-use industries to improve system reliability, reduce unscheduled downtime, increase productivity and reduce energy and repair costs. Air audit will help you identify and define your system problems, whether they are in distribution, supply or demand and recommend solutions, permitting you to meet your return on investment goals. 

The different equipment used in air audits is particle counters, pressure meters, flow meters, differential pressure meters, leak detectors and energy meters. Air audits are executed to form a baseline of energy consumption for a compressed air system. Through data logging and careful review of the compressed air system, these baselines are determined along with an analysis of the utility data. 

Air audit equipment is used by various end-use industries, such as automotive, oil & gas, food & beverages and chemical and petrochemical industries. Among these, audit equipment is highly used by the oil & gas and food & beverages industries. 

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Global Air Audit Equipment Market: Dynamics 

Drivers: 

Air audit equipment reduces the annual spending and overall operation budget, which is expected to be a major factor driving the growth of the air audit equipment market over the forecast period. Moreover, leakage is a significant source of wasted energy. Audit equipment can quickly identify the biggest leaks currently affecting energy consumption. 

This will give traction to the growth of the air audit equipment market shortly. Furthermore, air audit equipment ensures that all the equipment is operating at peak performance, provides safety to the workers and speeds 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. 

Apart, the different benefits of air audit equipment such as avoiding the purchase of new equipment and identifying silent leaks will also add to the growth of the market. 

Restraint 

Lack of commercialization is expected to be a major factor hampering the growth of the air audit equipment market over the forecast period. Moreover, unfavourable economic conditions and renewable sources of energy also act as a restraining factor to the growth of the air audit equipment market shortly. Furthermore, the slowdown in the demand for equipment will further obstruct the growth of the market. 

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 
• Neco Pressure Systems 
• Forbes Marshall 
• SMC Corporation 
• AIRFILTER ENGINEERING 
• Peerless Energy Systems 
• HTE Technologies 
• Air Energy 
• US Equipment 
• SKF 
• 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, applications, and industries. 

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