CHICAGO, March 7, 2019 /PRNewswire/ -- According to the new market research report "Adsorption Equipment Market by Capacity (Less than 10,000 CFM, 10,000-50,000 CFM, and More than 50,000 CFM), End-use Industry (Automotive Paints, Chemical, Semiconductor, and Printing), and Region-Global Forecast to 2023", published by MarketsandMarkets™, the global Adsorption Equipment Market is estimated to be USD 370 million in 2018 and is projected to reach USD 478 million by 2023, at a CAGR of 5.3% during the same period. This growth is mainly attributed to the stringent regulations to control VOC emissions.
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In terms of value, the >50,000 CFM capacity segment is projected to account for the larger share during the forecast period.
In terms of value, the >50,000 CFM capacity segment is projected to account for the larger share during the forecast period. The growth of this segment is mainly attributed to high VOC destruction capacities, high concentration ratio, and automated operations of equipment with >50,000 CFM.
In terms of value, the automotive paints end-use industry segment is projected to account for the highest share during the forecast period.
Stringent regulations regarding the emission of VOC generated through automotive paint finishing systems and growing automotive industry globally are majorly driving the market in the automotive paints end-use industry.
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APAC Adsorption Equipment Market is projected to register the highest CAGR, in terms of value, during the forecast period.
The Adsorption Equipment Market has been studied for APAC, North America, Europe, South America, and the Middle East & Africa. The APAC Adsorption Equipment Market is projected to register the highest CAGR, in terms of value, during the forecast period. This growth is mainly driven by emerging countries such as China, India, Thailand, and Indonesia. The growth of the automotive, chemical, and semiconductor industries in these countries is expected to drive the demand for adsorption equipment in APAC.
Durr Aktiengesellschaft (Germany), CECO Environmental (US), Evoqua Water Technologies LLC (US), TIGG LLC (US), Chemisch Thermische Prozesstechnik (CTP) GmbH (Austria), TAIKISHA LIMITED (Japan), Environmental C & C Inc. (US), Gulf Coast Environmental Systems (US), and Monroe Environmental Corp (US)are the key players operating in the Adsorption Equipment Market.
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