Industrial dryers are widely used in industries such as food processing, chemical, cement, paper & pulp, and mining for drying materials. They are specifically designed for low-pressure drying that is gentle but energy-efficient. Industrial dryers make processes more streamlined by reducing drying time while maintaining the quality of material. They are equipped with drying profiles and variable airflow capabilities to account for varying moisture content across batches.
The global Industrial Dryer Market is estimated to be valued at US$ 7.4 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:
One of the key trends in the industrial dryer market is the focus on energy efficiency. With growing concerns about carbon emissions and rising energy costs, industrial dryer manufacturers are developing innovative technologies to reduce power consumption. Advanced designs with features like variable speed fans, frequency converters, and precise temperature and humidity controls allow industrial dryers to consume 30-50% lesser electricity compared to conventional models. Some manufacturers have also integrated renewable energy sources like solar and wind to partially power their industrial dryers. Another notable trend is the growing automation in industrial dryers. Various sensors, IoT connectivity, touchscreen interfaces and analytics tools help automate drying processes, optimize settings, and achieve consistent high quality with minimum human intervention. This enhances productivity and yield while reducing operational costs for manufacturers.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the initial capital requirements and technological expertise are moderately high barriers for new players.
Bargaining power of buyers: The bargaining power of buyers is high as there are many players operating in the market providing similar products.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials can be sourced from multiple suppliers.
Threat of new substitutes: The threat of new substitutes is low as there are limited substitute products for industrial dryers.
Competitive rivalry: The competitive rivalry is high among existing players to gain higher market share.
Key Takeaways
The Global Industrial Dryer Market Size is expected to witness high growth.
Regional analysis comprises the Asia Pacific region dominated the market in 2022 accounting for around 35% share of the global market due to growing industrialization. Key players operating in the region are expanding their production capacities to cater to the rising demand.
Key players operating in the industrial dryer market are Andritz AG, ThyssenKrupp, GEA Group, Metso Corporation, Carrier Vibrating Equipment Inc., Buhler Holdings AG, ANCO-EAGLIN, Sukup Manufacturing, and New AVM Systech Pvt. Ltd. Key players are focusing on new product launches and incorporating new technologies to gain competitive advantage.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
