Industrial Dryer Market Expected to Reach US$ 3415 Million During 2016–2024

The global industrial dryer market was worth US$ 2500 million in 2016. It is likely to gain more than US$ 3415 million by 2024 end, growing at a CAGR of 3.5% over the six years estimated period.

The worldwide industrial dryers market is broadly categorized on the basis of product type, operating principle, end-user industry and region.

The spray dryers segment is anticipated to lead the global market throughout the expected period and is projected to account for nearly 26% of the overall market by 2024 end, the continuous product type segment is the second largest segment in the overall market.

Based on product type, the market is sub-segmented into indirect and direct. Amongst these, the indirect segment is estimated to grow at a relatively steady rate and is likely to remain unchanged during 2016–2024.

The chemical, pharmaceutical and food together will account for the major market shares in terms of both volume and value. The strong demand for these segments is likely to fuel the worldwide growth in the coming years. Among these, the demand for the chemical segment in the worldwide market is estimated to be high over the projection period.

The APAC market is expected to record a CAGR of 3% throughout the estimated period along with is expected to be leading the market in the coming years. Chine is expected to lead the APAC region, India is also likely to grow significantly on the basis of value in the said period. The North American market is projected to reach US$ 1045.6 Mn in revenues as well as expected to grow at a 3.8% CAGR during the estimated period.

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