Global Industrial Dryer Market Overview
Industrial Dryer Market Size was estimated at 8.06 (USD Billion) in 2022. The Industrial Dryer Industry is expected to grow from 8.29(USD Billion) in 2023 to 10.7 (USD Billion) by 2032. The Industrial Dryer Market CAGR (growth rate) is expected to be around 2.88% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Industrial Dryer Market Trends Highlighted
The industrial dryer market continues to evolve, driven by several key trends. One notable trend is the growing demand for dryers with enhanced energy efficiency and reduced operating costs. Manufacturers are responding by incorporating advanced technologies such as heat recovery systems and variable-speed drives to optimize energy consumption. Additionally, there is a growing preference for eco-friendly dryers that minimize environmental impact, leading to an increase in demand for dryers with advanced emission control systems.Another significant trend is the increasing adoption of automation and digitization in dryer manufacturing. The integration of sensors, controllers, and data analytics enables remote monitoring and control, improving efficiency and reducing maintenance costs. Furthermore, the trend towards the adoption of Industry 4.0 technologies is creating opportunities for predictive maintenance and enhanced quality control, contributing to improved operational efficiency.
Industrial Dryer Market Drivers
Rising Demand for Energy-Efficient Industrial Dryers
The growing concerns over environmental sustainability and the increasing cost of energy have led to a surge in demand for energy-efficient industrial dryers. Manufacturers are focusing on developing dryers that consume less energy while maintaining high drying performance. The adoption of energy-efficient technologies, such as heat recovery systems and variable speed drives, is expected to drive the growth of the Industrial Dryer Market Industry.Additionally, government regulations and incentives aimed at reducing energy consumption are further mendorong the adoption of energy-efficient dryers.
Increasing Adoption of Automation in Industrial Drying Processes
The development of Industry 4.0 and the tendency to automate various manufacturing processes contribute to the increasing demand for automated industrial dryers. With this regard, the consistent increase in the use of automated equipment is likely to continue. Importantly, automated dryers are beneficial in terms of their efficiency, reduced labor force, and potential to ensure high quality of the final product. Additionally, they can be combined with conveyors and packing machines, for instance, to create a drying lane.
Growing Demand from Emerging Markets
Industrial Dryer Market Industry is largely dependent on emerging economies, which contribute majorly to the industry’s value total. A developing market such as China, whose manufacturing sector growth contributed to increased sales of industrial dryers and also is one of the largest consumers of the above-mentioned goods, offers manufacturers an opportunity to grow their sales further. The growth of the local industrial sector would result in the growing demand for industrial dryers produced on a scale.
Industrial Dryer Market Segment Insights
Industrial Dryer Market Type Insights
The Industrial Dryer Market is segmented by type into Conveyor Dryer Systems, Batch Dryer Systems, and Tunnel Dryer Systems. Among these, the Conveyor Dryer Systems segment is expected to hold the largest market share during the forecast period. Conveyor Dryer Systems offer continuous operation, high-volume drying, and efficient energy consumption, making them a preferred choice for large-scale industrial applications. The Industrial Dryer Market revenue for the Conveyor Dryer Systems segment is projected to reach USD 2.6 billion by 2024, growing at a CAGR of 3.2%.The growth of this segment is attributed to the increasing demand for continuous and high-throughput drying solutions in the manufacturing, food processing, and pharmaceutical industries. Batch Dryer Systems are commonly used in small-scale operations and specialty applications where precise control of drying conditions is required. This segment is expected to witness a steady growth rate during the forecast period, reaching a market value of USD 1.8 billion by 2024. Tunnel Dryer Systems are suitable for high-temperature, high-volume drying applications and are commonly used in the chemical, automotive, and textile industries.The Industrial Dryer Market revenue for the Tunnel Dryer Systems segment is anticipated to reach USD 1.5 billion by 2024, growing at a CAGR of 2.9%. The market growth for all three segments is driven by factors such as increasing industrialization, rising demand for efficient drying solutions, and technological advancements that enhance drying performance and energy efficiency.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Industrial Dryer Market Heat Source Insights
The Industrial Dryer Market segmentation by Heat Source comprises Electric, Gas-fired, Steam-heated, and Infrared. Electric dryers dominate the market, accounting for over 45% of the Industrial Dryer Market revenue in 2023. Electric dryers are preferred due to their energy efficiency, ease of installation, and low maintenance costs. Gas-fired dryers follow closely, capturing around 30% of the market share. Gas-fired dryers offer higher heating capacity and faster drying times, making them suitable for large-scale industrial applications.Steam-heated dryers hold a significant share of around 15%, primarily used in industries requiring high-temperature drying or sterilization processes. Infrared dryers, with their ability to penetrate materials and provide uniform heating, account for the remaining market share. The Industrial Dryer Market segmentation by Heat Source offers insights into the diverse needs of various industries, enabling manufacturers to cater to specific drying requirements and optimize their product offerings.
Industrial Dryer Market Capacity Insights
The Industrial Dryer Market is segmented by capacity into small (below 100 kg/hr), medium (100-1000 kg/hr), and large (above 1000 kg/hr). The medium capacity segment held the largest market share in 2023 and is expected to continue to dominate the market over the forecast period. The large capacity segment is expected to have the highest CAGR during the forecast period. The growth of the medium capacity segment can be attributed to the increasing demand for dryers in the food and beverage industry. The food and beverage industry requires dryers to remove moisture from products such as fruits, vegetables, and meat.The medium capacity dryers are ideal for these applications as they can handle a moderate amount of product. The large capacity segment is expected to grow at the highest CAGR due to the increasing demand for dryers in the mining and construction industries. The mining and construction industries require dryers to remove moisture from materials such as coal, sand, and gravel. The growth of the market is being driven by the increasing demand for dryers in the food and beverage, mining, and construction industries.
Industrial Dryer Market Industrial Application Insights
The Industrial Dryer Market is segmented into various applications, including Food Beverage, Pharmaceuticals, Chemicals, and Textiles. Among these segments, Food Beverage is expected to hold a significant market share in 2024 and beyond. The increasing demand for processed and packaged food products, along with stringent regulations for food safety and hygiene, is driving the growth of the Industrial Dryer Market in this segment. Moreover, the Pharmaceuticals segment is projected to witness steady growth due to the rising production of pharmaceuticals and the need for efficient and reliable drying solutions.The Chemicals segment is also expected to contribute to the overall market growth, driven by the increasing demand for chemicals and the need for specialized drying equipment. Additionally, the Textiles segment is anticipated to show promising growth due to the growing textile industry and the need for effective drying solutions for various textile applications.
Industrial Dryer Market Regional Insights
The regional segmentation of the Industrial Dryer Market offers valuable insights into the geographical distribution of market growth. North America held the dominant share in 2023, with a market value of approximately USD 3.2 billion. The region's growth is driven by the presence of key industry players, technological advancements, and a large consumer base. Europe follows closely with a market size of around USD 2.7 billion, attributed to strict regulations on energy efficiency and a growing focus on sustainable manufacturing practices.APAC is projected to witness significant growth over the forecast period, reaching a market value of USD 2.9 billion by 2032. The region's growth is fueled by rapid industrialization, rising disposable incomes, and government initiatives promoting energy efficiency. South America and MEA are expected to have a modest growth rate compared to other regions, with a combined market value of USD 1.9 billion by 2032.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Industrial Dryer Market Key Players And Competitive Insights
Major players in the Industrial Dryer Market industry are focusing on expanding their product portfolio and geographical presence to cater to the growing demand for industrial dryers. Leading Industrial Dryer Market players are also investing in research and development to improve the efficiency and performance of their products. The Industrial Dryer Market development is driven by the increasing adoption of industrial dryers in various industries such as food and beverage, pharmaceutical, and chemical. The competitive landscape is characterized by the presence of a few large players and numerous small and medium-sized enterprises. Some of the key players in the Industrial Dryer Market include GEA Group, SPX Flow, and Buhler.GEA Group is a leading provider of process technology and components for the food, beverage, and pharmaceutical industries. The company offers a wide range of industrial dryers, including spray dryers, freezer dryers, and vacuum dryers. GEA Group has a strong presence with operations in over 50 countries. The company's focus on innovation and customer service has helped it to maintain a leading position in the Industrial Dryer Market.SPX Flow is another leading provider of industrial dryers. The company offers a comprehensive range of dryers, including centrifugal dryers, rotary dryers, and fluidized bed dryers. SPX Flow has a strong presence in the Americas, Europe, and Asia. The company's focus on sustainability and energy efficiency has helped it to gain a competitive advantage in the Industrial Dryer Market.
Key Companies in the Industrial Dryer Market Include
- Mitsubishi Heavy Industries
- Kaishan
- Haers
- Gardner Denver
- Fusheng
- CompAir
- Hycomp
- GEA Group
- SPX FLOW
- Sullair
- Kaeser Compressors
- Ingersoll Rand
- Atlas Copco
- Hitachi Industrial Equipment Systems
Industrial Dryer Market Industry Developments
The industrial dryer market is projected to reach USD 10.7 billion by 2032, exhibiting a CAGR of 2.88% during the forecast period. Rising demand for efficient and cost-effective drying solutions in various industries, including textiles, chemicals, and pharmaceuticals, is driving market growth. Technological advancements, such as the integration of IoT and AI, are enhancing the efficiency and productivity of industrial dryers.Recent developments in the market include the launch of energy-efficient dryers by major manufacturers and the growing adoption of sustainable drying technologies. Key players are focusing on strategic partnerships and acquisitions to expand their market presence. For instance, in 2023, SPX FLOW acquired the industrial drying business of GEA Group.Major market participants include SPX FLOW, GEA Group, Bhler AG, ANDRITZ AG, and Babcock Wilcox Enterprises.
Industrial Dryer Market Segmentation Insights
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Industrial Dryer Market Type Outlook
- Conveyor Dryer Systems
- Batch Dryer Systems
- Tunnel Dryer Systems
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Industrial Dryer Market Heat Source Outlook
- Electric
- Gas-fired
- Steam-heated
- Infrared
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Industrial Dryer Market Capacity Outlook
- Small (below 100 kg/hr)
- Medium (100-1000 kg/hr)
- Large (above 1000 kg/hr)
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Industrial Dryer Market Industrial Application Outlook
- Food Beverage
- Pharmaceuticals
- Chemicals
- Textiles
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Industrial Dryer Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
8.06(USD Billion) |
| Market Size 2023 |
8.29(USD Billion) |
| Market Size 2032 |
10.7(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
2.88% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Mitsubishi Heavy Industries, Kaishan, Haers, Gardner Denver, Fusheng, CompAir, Hycomp, GEA Group, SPX FLOW, Sullair, Kaeser Compressors, Ingersoll Rand, Atlas Copco, Hitachi Industrial Equipment Systems |
| Segments Covered |
Type, Heat Source, Capacity, Industrial Application, Regional |
| Key Market Opportunities |
Growing demand for energy efficient dryers Increasing adoption in emerging markets Rising popularity of industrial laundries Technological advancements Expansion of the food processing industry |
| Key Market Dynamics |
Rising demand for energy efficient dryers Growing adoption in food processing and pharmaceutical industries Technological advancements in drying processes Increasing demand for customized drying solutions Growing environmental concerns |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The industrial dryer market is expected to reach a valuation of USD 10.7 billion by 2032, expanding at a CAGR of 2.88% from 2024 to 2032.
The Asia Pacific region is anticipated to lead the market, accounting for the largest share due to rapid industrialization and increasing demand from various industries.
Industrial dryers are primarily used in industries such as chemical, food and beverage, pharmaceutical, and automotive for drying various materials, products, and components.
Prominent players in the market include SPX FLOW, Inc., GEA Group Aktiengesellschaft, The Japan Steel Works, Ltd., and Buhler AG.
The market is projected to grow at a steady CAGR of 2.88% from 2024 to 2032.
Increasing demand for energy-efficient and sustainable drying solutions, coupled with growing industrial automation, are key drivers of market growth.
Stringent environmental regulations and fluctuations in raw material prices pose challenges to market growth.
Advancements in technology, such as the integration of IoT and AI, are reshaping the market landscape.
Government regulations aimed at reducing energy consumption and promoting sustainable practices influence market dynamics.
Emerging economies and untapped markets present significant growth opportunities for manufacturers.
