Industrial Dryers Market To Increase At a CAGR of 3.5% During 2016 – 2024

Published : 3 years ago, on 05/10/2021

Robust demand for industrial dryers in the food and pharmaceutical industry is expected to influence the overall growth of industrial dryers market in the near future. In order to maintain a superior product quality and functional value, end user industries such as food and pharmaceutical heavily depend on high performance dryer systems.

In addition, stiffer government guidelines for manufacturing processes coupled with increasing concerns over sustainable industrial expansion has compelled these industries to intensify production operations. A study conducted by Persistence Market Research (PMR) reveals that the demand for new industrial dryers will reach at 3,049 units globally by 2024.

CLICK HERE TO GET A SAMPLE REPORT (INCLUDING FULL TOC, TABLE & FIGURES) – https://www.persistencemarketresearch.com/samples/12259

Owing to the arrival of advanced drying technology, the application base for industrial dryers has expanded rapidly in recent years. The industrial dryer is a manufacturing equipment in chemical, fertilizer and mineral processing industries. Dryer manufacturers are developing industry specific dryer systems depending on the processing requirement. 

Bottlenecks

While industrial drying equipment greatly enhances both product value and quality, constraints such as high cost of operation and its severe environmental limitations pertaining to excessive smoke emission may slow down the surging spirit of the market during the forecast period. Moreover, a considerable amount of post processing is involved to minimize the thick discharge of fumes from dryers that entails additional dispensation cost. 

Trends

PMR’s study further sheds light on the technological aspect of industrial dryer systems, major players in the global market for industrial dryer are actively focusing on making higher investments in R&D pipelines. In the recent past, demand for energy efficient dryers has gained traction, as a result of which manufacturers have shifted their concentration towards developing cost-effective and low-energy consuming dryers.

GET A CUSTOMIZED SCOPE TO MATCH YOUR NEED ASK AN EXPERT – https://www.persistencemarketresearch.com/ask-an-expert/12259

Further, growing preference for superheated steam dryers that offer 70-80% energy recovery and have lower operating cost is a key trend governing the global market for industrial dryers. 

Market Overview

On the basis of product type, spray dryers is expected to be the predominant segment of the market during the projected period, followed by continuous dryer type. The spray dryer segment is expected to account for 26% share of the market over 2024.

Industrial dryers work on two basic principles, direct or indirect, amongst which dryers working of indirect principles are expected to witness a relatively higher demand during 2016 – 2024. Demand for dryers working on indirect principle is anticipated to remain strong in the near future.

GAIN COMPLETE ACCESS TO THE REPORT – https://www.persistencemarketresearch.com/checkout/12259

Amongst various end user industries chemical, food, and pharmaceutical collectively is expected to account for the majority share of the market both in value and volume terms. In addition, demand for industrial dryer particularly from the chemical industry in expected to remain high throughout the forecast period.

Based on region prospect, the market in Asia Pacific is projected to remain dominant over the next couple of years. The region is expected to witness a CAGR of over 3% during the forecast period. In North America, sales revenue for industrial dryers is expected to grow to US$ 1045.6 Million, expanding at a CAGR of 3.8%. Moreover, key players operating in the global market are implementing market strategies that involve acquisitions and mergers, expansion of facilities and launch of newer products, especially in APAC and North America in order to strengthen their presence in these two regions. 

Read More Trending “PMR Exclusive Article”

Eddy Current NDT Equipment: Array Scanning Segment Slated to Exhibit Significant CAGR during Forecast Period 2018-2026

Snow Making Systems: Developments in Theme Based Tourism Activities to Drive Growth Across Various Regional Markets

 Coil fed Punching & Cutting Machines: Adoption of Laser Cutting Machines Trending

Servo Press: Increasing Adoption of Servo Press in the Aerospace Sector to be Observed During the Assessment Period

Competitive Dashboard

Spooner Industries Ltd, Metso Corporation, ANDRITZ AG, Carrier Vibrating Equipment, Inc., Separation Group, Ventilex Inc., ThyssenKrupp AG, Buhler AG, GEA Group, and HEINKEL Drying are some of the key participants operating in the Global market for Industrial Dryer.

About us:
Persistence Market Research is here to provide companies a one-stop solution with regards to bettering customer experience. It does engage in gathering appropriate feedback after getting through personalized customer interactions for adding value to customers’ experience by acting as the “missing” link between “customer relationships” and “business outcomes’. The best possible returns are assured therein.

Contact us:
Persistence Market Research
305 Broadway, 7th Floor,
New York City, NY 10007
United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – [email protected]
Web- https://www.persistencemarketresearch.com

The post Industrial Dryers Market To Increase At a CAGR of 3.5% During 2016 – 2024 appeared first on Lake Shore Gazette.