The report "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 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. Increasing demand of industrial dryers from the food, pharmaceutical, chemicals, fertilizer, cement, minerals, and paper & pulp industries is projected to drive the growth of the market in the near future.
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The research methodology used to estimate and forecast the global industrial dryers market began with capturing data on key vendor revenues through secondary research from secondary sources such as Hoovers, Bloomberg, Chemical Weekly, Factiva, and various other government and private websites. The vendor offerings have also been taken into consideration to determine the market segmentation. After arriving at the overall market size, the total market was split into several segments and subsegments, which were later verified through primary research by conducting extensive interviews with key personnel, such as CEOs, VPs, directors, and executives. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments of the market. The breakdown of profiles of primaries is depicted in the figure below.
Fluidized bed dryers is the fastest-growing type segment of the global industrial dryers market
The fluidized bed dryers segment is projected to be the fastest-growing segment in the industrial dryers market, by type, from 2016 to 2026. This growth can be mainly attributed to the growth in demand for fluidized bed dryers from different application industries such as food and pharmaceuticals. Fluidized bed dryers are cost as well as energy efficient.
Pharmaceuticals industry is the fastest-growing application segment of the global industrial dryers market
The pharmaceuticals segment is projected to be the fastest-growing application segment from 2016 to 2026. This growth can be attributed to the increased demand for industrial dryers in pharmaceuticals industry. The pharmaceuticals industry uses industrial dryers to remove liquids or moisture from bulk solids, powders, or other liquids by evaporation or sublimation.
The Asia-Pacific region was the largest market for industrial dryers in 2015
The Asia-Pacific region was the largest industrial dryers market in 2015 owing to the rise in demand for industrial dryers in this region from the end-use industries such as food, pharmaceutical, chemicals, fertilizer, cement, minerals, and paper & pulp in the region. China, India, and Japan are the leading countries in terms of consumption of industrial dryers in the Asia-Pacific region. The easy availability of raw material and labor and the increase in demand from end-use industries is projected to drive the growth of the industrial dryers market in these countries.
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Key players operational in the industrial dryers market include 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.).
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