Industrial Dryer Market Growth Accelerated by Rising Demand from Process Industries

Industrial dryers are extensively used for the drying different types of materials such as chemicals, foodstuffs, minerals, and metals. Industrial dryers offer benefits such as energy-efficient drying process, reduced drying time, uniform drying, reduced contamination, and consistent quality of dried products. They are an integral part of various industries including food processing, chemical, textiles, wood, paper & pulp, and construction.

The global Industrial Dryer Market is estimated to be valued at US$ 7.5 billion in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The growth of industrial dryer market is accelerated by the rising demand from the process industries. Process industries extensively use industrial dryers for drying various raw materials and intermediate or final products. Industries such as food processing, chemicals, textiles, wood, pulp & paper manufacturing depend on drying processes for concentration, solidification, and preservation of materials. Expanding process industries due to rapid industrialization is expected to drive significant demand for industrial dryers over the forecast period. In 2021, the chemical industry contributed around 20% of the total industrial dryer sales owing to the drying needs of various chemicals. Moreover, demand for energy-efficient industrial dryers is growing as industries aim to reduce operational costs and carbon footprint of drying operations, which is further expected to support the market growth over the coming years.

Segment Analysis
The global industrial dryer market is segmented by technology, by drying method, by end-use industry, and region. Among technology, forced convection dryers account for the largest market share and are expected to maintain dominance over the forecast period. Forced convection dryers circulate hot air around products to absorb moisture efficiently in a relatively short time, making them ideal for high-volume applications.

Key Takeaways
The Global Industrial Dryer Market Size is expected to witness high growth. It was valued at $20 billion in 2022 and is forecast to reach $35 billion by 2030, expanding at a CAGR of 6.1% during the forecast period.

Regional analysis: The Asia Pacific region currently dominates the market, accounting for over 35% share due to large manufacturing sectors in countries like China and India. The region is expected to maintain its lead, growing at a projected CAGR of 7% during the forecast period due to rising processing needs. Europe and North America are other major markets driven by mature food processing and chemical industries.

Key players: Key players operating in the Industrial Dryer market are Buhler Holding AG, GEA Group, ANDRITZ, The Middleby Corporation, Heat and Control Inc., and SPX Flow Inc. Buhler Holding AG is one of the largest suppliers of industrial drying equipment globally with a wide portfolio of technologies suited for various materials.