Global Refrigerated Air Dryer (RAD) Market 2017-2021

Overview of the global refrigerated air dryer (RAD) market

Research analysis on the global RAD market identifies that the increase in contract manufacturing in the pharmaceutical industry will be one of the major factors that will have a positive impact on the growth of the market. With the growing health issues, governments across the world are investing heavily in the healthcare sector to provide a better-quality life for their citizens. The growth of the overall pharmaceutical industry has led to the growth in certain subsectors, such as contract manufacturing. The rising demand for medicines induces companies to increase their production levels. This will fuel the demand for RADs since they are critical to pharmaceutical manufacturing. Our analysts have estimated that this refrigerated dryer market will grow at a CAGR or almost 7% by 2021.

The integration of loT with compressed dryer systems will be one of the latest trends that will gain traction in the RAD market during the next four years. IoT allows devices to communicate without human-to-human or human-to-computer intervention. Additionally, it also helps management teams to enhance building and equipment control, thus reducing operating costs. Companies have started making efforts to connect various devices to loTs. Parker Hannifin is already implementing "Voice of Machine," a strategy to ensure standardization across all IoT empowered products across its RADs and other products. This will help the company in monitoring and predictive maintenance routines for factory compressed air piping systems.

Competitive landscape and key vendors