Global Industrial Dryers Market was valued $2929.7 Mn in 2019 and is expected to reach $63700.8 Mn by 2026, at a CAGR of 3.2% during the forecast period.
Global Industrial Dryers Market Introduction
Industrial dryers are the ones used in industrial applications to efficiently process large quantities of bulk materials that need reduced moisture levels. Global demand for industrial dryers is expected to witness steady growth during the forecast period due to increasing demand for these dryers in the food industry, especially in the Asia-Pacific region where the food industry is expected to possess strong growth in the coming years.
Global Industrial Dryers Market Dynamics
The increasing disposable income and rise in living standards have changed the food habits of individuals, which has propelled the growth of the food and beverages market, which is further expected to boost growth opportunities for manufacturers of these dryers in the region. China, India, and Japan are the leading contributors to the APAC industrial dryers market. Growing commercial applications such as food and beverages and pharmaceuticals and rising investment for infrastructure development in developing economies are the major factors driving the market. Further, the market growth is expected to be propelled by the growing need to maintain high production quality in pharmaceuticals and chemical industries. Rising demand for these dryers from food and beverages and chemicals industries is also expected to impel the growth of the industrial dryers market.
Global Industrial Dryers Market Segment Analysis
Fluidized bed dryers are projected to be the fastest-growing segment in the market during the forecast period. The rising demand for fluidized bed dryers is attributed to the growing number of applications of these dryers in different application industries such as pharmaceuticals and food and beverages. Further, energy-efficient, homogenous drying and cost-effective nature are the major factors driving the growth of the flexible bed dryers market.
The pharmaceuticals segment accounted for the largest market share owing to the growing need for moisture removal from solid or liquids substances by sublimation and evaporation process. The pharmaceutical industry uses dryers to remove liquids or moisture from bulk solids, powders, or other liquids by evaporation or sublimation. Further, improving the medical and healthcare sector due to disease prevalence, drug affordability, consumer attitudes, and government policies is also expected to drive the market growth during the forecast period.
Global Industrial Dryers Market Regional Insights
APAC market is expected to witness the fastest growth during the forecast period. The major factors driving the regional market growth include diversified applications of dryers across various industries, including chemicals, food and beverages, fertilizer, cement, paper and pulp, minerals, and pharmaceuticals. Escalating demand for industrial dryers in cement, materials, pharmaceuticals, chemicals, and other end-user industries is expected to drive the market in this region. The Industrial Dryers market in the U.S. was estimated at US$1.2 Billion in the year 2020. The country currently accounts for a 27.02% share in the global market. China, the world second-largest economy, is forecast to reach an estimated market size of US$ xx Billion in the year 2026 at a CAGR of 5.2% through 2026.
North America accounted for a considerable market share of xx% in the industrial dryers market in 2019 due to the developed end-user industries such as pharmaceuticals, chemicals, and materials, among others.
Global Industrial Dryers Market Report Scope:
Global Industrial Dryers Market
Global Industrial Dryers Market, by Region
• North America
• South America
• Asia Pacific
Global Industrial Dryers Market Key Players
• ThyssenKrupp AG
• Andritz AG
• GEA Group
• Metso Corporation
• FLSmidth & Co. A/S
• Buhler Holding AG
• ANIVI Ingeniería SA
• Carrier Vibrating Equipment, Inc.
• Mitchell Dryers Ltd.
• Metso Corporation
• Yamato Sanko Co Ltd
• Kerone Engineering Solutions
• FEECO International
• Gem Allied Industries
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