Industrial dryers are widely used in various types of industrial applications. The main function of industrial dryers is to remove water, moisture, and other solvents from the substance used. The initial function of industrial dryers is to remove moisture from the surface, using complete heat transfer mechanisms, including conduction, dispersing, and radiation. Industrial dryers are best used to make many products that require low humidity levels.
Market Scope and Structure Analysis
The growth of commercial applications such as food & beverages and medicines. Increased investment in the developing economy is a major driving factor. In addition, market growth is expected to be driven by the surge in demand for high-quality manufacturing in the pharmaceutical and chemical industries. The demand for these dryers from the food & beverage and chemical industries is expected to stimulate the growth of the industry. Uncertain market and economic conditions, as well as strict environmental and safety laws, are the main factors holding back the growth of industrial dryers in the market. Industrial dryers can produce harmful gases and unwanted particles called hazardous air pollutants. In addition, ignorance about new technological advances by industry in large developing countries will also affect the market in the long run.
COVID-19 Impact Analysis
COVID-19 pandemic has shut down the production of various products in the industrial dryers market due to the global lockdown. This has declined the growth of the market in the last few months and is likely to continue during 2021.
COVID-19 has already affected the sales of the Industrial dryers market in the first quarter of 2021 and is anticipated to slow the market growth throughout the year.
COVID-19 led to a decline in the shipping of industrial dryers as well as revenue received from them. Due to this, the first half of 2020 showed a decline in market growth.
Key players of the market like India, U.S., China, and Japan have been hit hard by the pandemic. Also food, pharmaceutical, fertilizer, chemicals industries see little hope, which may be expected to continue for a brief period due to land recession.
This trend is hoped to discontinue in another half of the year as the need is expected to increase due to the growing demand from food, pharmaceutical, fertilizer, chemicals industries.
Top Impacting Factors
Significant growth in the pharmaceutical sector is expected to stimulate the growth of the global dryers industry in the upcoming period. An increase in demand for gelatin is expected to boost market growth. Gelatin is used in active and nutraceutical foods, which increases the need for gelatin in the diet, collagen peptide, and sub protein. Gelatin drying is used to dehydrate the gelatin product category. The increase in food demand seems to lead to higher demand for dryers, thus providing opportunities to raise money for players in the market. North America is expected to pass on the demand for industrial dryers in the future. Chemical cleaning plants in the area are expected to boost the requirement for industrial dryers during the forecast period. In addition, the increase in the acceptance of industrial dryers in food processing plants and Asia-Pacific and fertilizer industries also seems to be the reason for the growth of the industrial drying markets in the area.
ThyssenKrupp AG group receives the largest order ever in July 2021. It is officially authorized to build submarines such as type 212CD. The Norwegian and German purchasing agencies have signed corresponding contracts. Due to the pandemic situation, the event took place on a small scale. This order indicates the growing demand for the industrial dryer market.
Andritz purchase GE steam power in July 2021, which help them to renovate a durable, efficient dryer system as it creates a huge demand in the market.
The increase in food demand seems to lead to a higher requirement for dryers, also the development of the pharmaceuticals sector boost up the growth of the dryer's market even during pandemics.
Key Benefits of the Report
This study presents the analytical depiction of the industrial dryers market along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the industrial dryers market share.
The current market is quantitatively analyzed to highlight the industrial dryers market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed industrial dryers market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Mobile Cranes Report
Who are the leading global players in the "industrial dryers" market?
What are the current and predicted trends?
What is "industrial dryers market"?
What is "industrial dryers" market prediction in the future?
What are the challenges faced in the "industrial dryers" market?
What are the driving factors and opportunities in the market?
What are the key benefits of the "industrial dryers " market report?
Industrial Dryers Market Report Highlights
Key Market Players
FLSmidth& Co. A/S, Carrier Vibrating Equipment Inc., ThyssenKrupp AG, Buhler Holding AG, Aktiengesellschaft, Comessa, Andritz AG, FEECO International Inc., ANIVI Ingeniería SA, CAD Works Engineering Ltd., Glatt GmbH, Metso Corporation, GEA Group