Contact and Convective Dryers Market is reaching a valuation of US$ 252.4 Million by 2029 - Comprehensive Research Report by FMI

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Contact and Convective Dryers Market - Analysis, Outlook, Growth, Trends, Forecasts

DUBAI, United Arab Emirates, Jan. 26, 2022 (GLOBE NEWSWIRE) -- The global contact & convective dryers market is estimated to top US$ 199.1 Mn by 2022. Growing emphasis on drying across industries as an imperative process for the sustenance of product quality is favoring the growth in the market.

Future Market Insights (FMI), in its latest research study, examines the growth trail of Contact and Convective Dryers Market for the assessment timeframe of 2022-2029. According to the research study, sales of contact and convective dryers reached ~ 2,649 units in 2021, with an estimated Y-o-Y increase of 2.8% to be witnessed in 2022.

Attribute

Details

Contact & Convective Dryers Market Estimated Size in 2022

US$ 199.1 Mn

Contact & Convective Dryers Market Projected Size in 2029

US$ 252.4 Mn

Contact & Convective Dryers Market Historical CAGR (2014-2021)

2.9%

Contact & Convective Dryers Market Value-based CAGR (2022-2029)

3.4%

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Increasing focus on industrial drying as an imperative for sustenance of product quality is emerging as a bedrock for growth of contact and convective dryers market, finds the FMI study. Industrial drying remains one among the most-demanding unit operations, and this demand continues to firm up as end user industries navigate toward achieving ‘operational efficiency’.

According to the report, the role of contact and convective dryers in form of intermittent drying equipment is likely to be prominent in 2022 and beyond, as they address the fundamental drying requirements before the products go upstream for complex drying processes. However, limited installation rate coupled with low replacement ratio are two of the key factors expected to pose significant challenges for manufacturers of contact and convective dryers.

Fast-Paced Growth of Processing Verticals Unlocking Gains in Developing Economies

The FMI study opines that sky-rocketing growth of processing industries in fast-growing economies, such as South Asia and East Asia, are signalling the emergence of new opportunities for the market players to leverage. High adoption of contact and convective dryers to effectively meet the drying requirements, especially for powders, remains one of the key factors pushing their demand in industrial processing streams. Leading market players are redesigning their expansion strategies with a stronger orientation toward these regions, so that they firmly establish themselves in this ‘already-opportunistic’ markets and reap large profits.

According to the study, sales of contact dryers will continue to outpace the sales of convective dryers, with global sales estimated to reach ~ 1,768 units in 2022. While higher energy efficiency continues to be the biggest selling point of contact dryers, reduced environmental footprint and low costs are two more factors underpinning their visibility. In addition, contact dryers possess unmatched ability in terms of accumulation and retention of heat, which further warrants its viability amidst the end-user marketplace.

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Scope of the Report

Attribute

Details

Forecast Period

2022-2029

Historical Data Available for

2014-2021

Market Analysis

US$ Mn for Value

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia, Middle East & Africa

Key Countries Covered

US, Canada, Germany, U.K., France, Italy, Spain, Poland,
Russia, China, Japan, South Korea, India, Thailand, Malaysia,
Vietnam, Indonesia, Australia, New Zealand, GCC Countries,
Turkey, Northern Africa, South Africa

Key Segments Covered

Product Type, Orientation, Application, and Region

Key Companies Profiled

  • Andritz-Gouda B.V.

  • GEA Group AG

  • FLSmidth

  • ThyssenKrupp AG

  • Meter Group, Inc

  • Others

Report Coverage

Market Forecast, brand share analysis, competition
intelligence, DROT analysis, Market Dynamics and
Challenges, Strategic Growth Initiatives

As suggested by FMI’s analysis, the contact and convective dryers market showcases higher degree of consolidation at the bottom, with mid-level and emerging players commanding for a major chunk of the global market share. The market participants will continue to invest in service and supply contracts with end-users as a key cornerstone of their sales strategy. Market players are capitalizing on the trend of ‘digitalization’ to support customers in terms of optimized designs and operating costs.

Customized contact and convective dryers will remain a prime focus for manufacturers to revive their business models, unveils the FMI research study. As product customization is one of the best tools businesses can use to comprehend the end user needs, manufacturers are focusing on product personalization to diversify their offerings and reach new markets with minimum tweaks to their business models. Manufacturers active in the contact and convective dryers market will continue placing their bets on strategic mergers and acquisitions, with new possibilities as a result of combined-expertise and shared resources pool.

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Competitive Landscape

Leading players operating in the global contact & convective dryers market are focusing on providing customized products as per the end use requirements. Some of the other companies are aiming at entering into strategic collaboration, partnership, acquisition, and mergers with players to strengthen their market footprint.

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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