Industrial Dryers Market by Product (Direct, Indirect, Specialty), Type (Rotary, Fluidized Bed, Spray), Application (Food, Pharmaceutical, Fertilizer, Chemicals, Cement), and Region - Global Forecast to 2026
“The global industrial dryers market is projected to grow at a CAGR of 4.3% from 2016 to 2026”
The global industrial dryers market was valued at USD 4.00 billion in 2015 and is projected to reach USD 6.37 billion by 2026, at a CAGR of 4.3% from 2016 to 2026. The major driving factors for industrial dryers market is their wide applicability in several industries, such as food, pharmaceuticals, chemicals, fertilizers, cement, among others for processing their materials before they can be converted into the final product. Apart from this, another important driving factor is the big market opportunity provided by the emerging economies. For example, the large population in emerging economies such as China, India, and Brazil has an ever increasing demand for food, pharmaceutical products, and cement. All these industries need industrial dryers to meet these demands. The factors inhibiting the growth of the industrial dryers market are unstable market and economic conditions. Apart from this, stringent environmental regulations also act as a challenge for the industry.
“The food segment is the largest application segment in the global industrial dryers market”
Among all applications, food holds the largest market share, in terms of value, as of 2015. There is a high demand for industrial dryers from the food industry. The food industry uses industrial dryers on a large scale to dry raw materials before they can be processed and converted into final products. The food industry typically uses industrial dryers for drying products such as dairy (milk, whey, creamers), coffee, coffee surrogates, tea, flavors, powdered drinks, processed cereal-based foods, potatoes, starch derivatives, sugar beet pulp, fruits, vegetables, and spices. The food industry uses dryers such as spray dryers and fluidized bed dryers to meet its requirements.
“The Asia-Pacific region expected to lead the growth of the global industrial dryers market”
The Asia-Pacific region accounted for the largest share of the global industrial dryers market in 2015. It is projected to grow at the highest CAGR during the forecast period. It has been observed that there is an increasing growth rate in industrialization in countries such as China and India in this region. This has contributed to the growing demand for industrial dryers from end-use industries such as food, pharmaceutical, chemicals, fertilizer, cement, minerals, and paper & pulp, among others.
Profile break-up of primary participants for the report:
By Company Type: Tier 1 – 55 %, Tier 2 – 20%, Tier 3 – 25%
By Designation: Manager level – 75%, C level – 25%
By Region: Europe – 30%, Asia-Pacific – 25%, North America – 20%, Middle East & Africa – 15%, Latin America – 10%
Furthermore, as a part of qualitative analysis, the report provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by different market players, such as ThyssenKrupp AG (Germany), Andritz AG (Austria), GEA Group (Germany), Metso Corporation (Finland), FLSmidth & Co. A/S (Denmark), Buhler Holding AG (Switzerland), ANIVI Ingeniería SA (Spain), Carrier Vibrating Equipment, Inc. (U.S.), COMESSA (France), and Mitchell Dryers Ltd. (U.K.).
The report defines, segments, and projects the global industrial dryers market on the basis of product, type, application, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and industry-specific challenges. It also strategically profiles key players and comprehensively analyze their market share and core competencies and tracks and analyzes competitive developments such as partnerships, agreements, and joint ventures; mergers & acquisitions; expansions; new product developments; and research & development activities in the industrial dryers market.
Reasons to buy the report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall industrial dryers market and its subsegments. This report will help stakeholders to better understand the competitor landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. The report also helps the stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.