Industrial Dryer Market Growth Accelerated by Rising Demand from Process Industries
Industrial dryers are extensively used for the drying different types of materials such as chemicals, foodstuffs, minerals, and metals. Industrial dryers offer benefits such as energy-efficient drying process, reduced drying time, uniform drying, reduced contamination, and consistent quality of dried products. They are an integral part of various industries including food processing, chemical, textiles, wood, paper & pulp, and construction.
The global Industrial Dryer Market is estimated to be valued at US$ 7.5 billion in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growth of industrial dryer market is accelerated by the rising demand from the process industries. Process industries extensively use industrial dryers for drying various raw materials and intermediate or final products. Industries such as food processing, chemicals, textiles, wood, pulp & paper manufacturing depend on drying processes for concentration, solidification, and preservation of materials. Expanding process industries due to rapid industrialization is expected to drive significant demand for industrial dryers over the forecast period. In 2021, the chemical industry contributed around 20% of the total industrial dryer sales owing to the drying needs of various chemicals. Moreover, demand for energy-efficient industrial dryers is growing as industries aim to reduce operational costs and carbon footprint of drying operations, which is further expected to support the market growth over the coming years.
Segment Analysis
The global industrial dryer market is segmented by technology, by drying method, by end-use industry, and region. Among technology, forced convection dryers account for the largest market share and are expected to maintain dominance over the forecast period. Forced convection dryers circulate hot air around products to absorb moisture efficiently in a relatively short time, making them ideal for high-volume applications.
Key Takeaways
The Global Industrial Dryer Market Size is expected to witness high growth over the forecast period between 2023 to 2030.
Rapid industrialization across Asia Pacific and Latin America will drive the demand for industrial dryers from key verticals. The Asia Pacific region is estimated to remain the fastest growing as well as dominant regional market owing to extensive manufacturing activities and growing process industries in countries like China, India, Japan and South Korea.
Key players operating in the Industrial Dryer Market are Metso Corporation, ANCO-EAGLIN, SPX Flow Technology Danmark A/S, Alfa Laval, Mecla, SSP Private Limited, Eaton, Andritz AG, GEA Group, and Carrier Vibrating Equipment, Inc. These players are focusing on development of energy efficient and automated dryer solutions to tap new opportunities.
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