by Industrial dryers are equipments used for drying products across industries such as food, agricultural, chemical and paper processing through the application of hot air, steam or radiant heat. They enhance the quality and shelf life of products by removing moisture content in an efficient manner.
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 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased adoption of continuous industrial dryers for large scale production is one of the key trends contributing to the growth of industrial dryer market. Continuous dryers are increasingly adopted across industries owing to their ability to handle large production volumes without downtime. They ensure smooth and continuous flow of materials being dried through the drying chamber. This has significantly boosted their demand over traditional batch dryers. Furthermore, ongoing technological advancements to enhance efficiency and reduce energy consumption of continuous industrial dryers will further propel their adoption during the forecast period.
Here is the SWOT and key takeaways for the given market without mentioning market size, CAGR or conclusion:
SWOT Analysis
Strength: Industrial dryers offer fast and efficient drying of materials compared to sun drying. They help increase production capacity.
Weakness: High initial investment costs associated with industrial dryers can be prohibitive for small scale industries. Their operation involves high energy consumption.
Opportunity: Growth of industries like food processing, chemicals, pharmaceuticals, paper and pulp offers opportunities for industrial dryer sales. Rising demand for processed foods worldwide also supports market growth.
Threats: Volatility in raw material prices can increase production costs. Stringent government regulations regarding factory emissions also act as a threat.
Key Takeaways
The Global Industrial Dryer Market Size is expected to witness high growth.
Regional analysis: North America accounts for the largest share in the industrial dryer market due to high demand from food processing, chemicals and pharmaceutical industries in the region. Presence of key players and adoption of advanced technologies further supports market growth.
Key players operating in the Industrial Dryer market are Metso Corporation, ANDRITZ, Carrier Vibrating Equipment, Inc., Larsson Sweden, Yamato Sanko Machinery, and Feeco International, Inc.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
