The global Industrial Dryer Market is estimated to be valued at US$ 1.37 Bn or Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Industrial dryers are the machinery used to reduce moisture content of materials like grains, chemicals, pharmaceuticals and various other industrial products. They are used across various industries like food processing, wood, paper & pulp, chemical, pharmaceutical and others as they offers advantages like continuous and energy efficient drying.
Market key trends:
One of the key trend gaining traction in the industrial dryer market is rising adoption of energy efficient equipment. With growing emphasis on reducing carbon footprint and energy costs, manufacturers are focusing on developing industrial dryers with advanced technologies like direct steam injection, moisture recirculation and variable frequency drives. These innovative drying solutions significantly reduce power consumption by up to 30% compared to conventional dryers. Additionally, growing demand from industries like food processing and pharmaceutical which requires precise moisture control is also driving the demand for advanced industrial dryers in the market.
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Market key trends:
One of the key trends gaining traction in the Industrial Dryer Market Growth is the increasing adoption of hybrid drying technologies. Hybrid dryers are gaining popularity as they offer benefits of different drying techniques combined into a single unit. For example, a hybrid dryer may use convection heating along with microwave or radio frequency drying for certain applications. This helps improve the efficiency and throughput of drying processes. With the need to optimize drying operations, more end-use industries are incorporating hybrid dryer systems in their plants.
SWOT Analysis
Strength: Industrial dryers offer efficiencies of scale for bulk drying applications. They are designed to handle high volume throughput requirements of various industries.
Weakness: High initial capital costs are involved in setting up industrial dryer systems. Existing plants may also require revamping to integrate new dryer technologies.
Opportunity: Growing need for energy-efficient drying among manufacturers presents an opportunity for dryer OEMs to provide customized solutions.
Threats: Shift towards decentralized or smaller production capacities by some industries may reduce demand for large industrial dryers. Stringent environmental regulations around emissions can impact dryer design upgrades.
Key Takeaways
The global Industrial Dryer Market is expected to witness high growth, exhibiting CAGR of 5.1% over the forecast period, due to increasing demand from the food processing industry for bulk drying of crops, grains, and other food materials.
Regionally, North America dominated the industrial dryer market in 2023 with over 30% revenue share. Significant presence of major food corporations and favorable government policies supporting manufacturing capacity enhancements drove the regional market. Asia Pacific is anticipated to exhibit the fastest growth during the forecast period with China and India emerging as high investment hotspots for setting up new processing plants.
Key players operating in the industrial dryer market are Carrier Vibrating Equipment Inc., ThyssenKrupp AG, Buhler Holding AG, FEECO International Inc., CAD Works Engineering Ltd., Glatt GmbH, Metso Corporation, ANIVI Ingeniería SA, FLSmidth& Co. A/S, Andritz AG, GEA Group, Aktiengesellschaft, Comessa. These players are focusing on innovations in dryer design and configurations to improve energy-efficiency, reduce emissions, and cater to customized process requirements.
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