Demand for Spray Drying Equipment Market To Soar from use Industries and Push Revenues in Market : Fact.MR

Increasing penetration of automation in spray drying equipment is creating attractive and tangible opportunities for prominent manufacturers, helping the spray drying equipment market register a modest CAGR of 4% over the forecast period (2019-2027). High energy output in large as well as mobile spray dryers is maximizing sales of global spray drying equipment.

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The availability of a large number of spray dryers and their suitability for all material variants has resulted in significant demand from end-use industries. In addition, spray dryers are showcasing maximum penetration among the various types of industrial dryers and account for around 1/3rd of overall sales among industrial dryers.

Key Takeaways of Global Spray Drying Equipment Market:

Eight out of ten spray dryers are working on an indirect operation that requires hot air for drying, which is formed by burning fossil fuel. Indirect drying segment is expected to grow at a CAGR of 4% during the forecast period.

Food and chemicals are established market segments for spray drying equipment and together they account for approximately two-third share in global spray drying equipment market

Continuous drying has become the voice of end-users across the globe. This attribute is supporting the absolute dollar opportunity of over US$ 210 Mn in the spray drying equipment market over the forecast period.

High cost and longer life expectancy of spray dryers have created intense competition among the global and local manufacturers

"China Plus One Strategy" Creating New Growth Avenues for Key Channel Partners

Key spray drying equipment manufacturers are highly focused on adopting China plus one strategy by expanding their sales footprint outside China, mainly in India and ASEAN countries. Also, an increasing number of end-use industry projects in India and ASEAN countries will bolster the sales of global spray drying equipment market by 1.3x over the forecast period.

In addition, with OEMs and aftermarkets playing a pivotal role in the spray drying equipment market, manufacturing of spray dryers will catalyze growth prospects for manufacturers in global spray drying equipment market.

Furthermore, economic imbalance and volatility in the industrial automation sector have thwarted the growth of the spray drying equipment market over the historical period, however, the long-term outlook seems promising across different verticals.

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Key Market Actors Compete Aggressively on Collaborative Value Additions

The global market for spray drying equipment industry is highly consolidated in nature with prominent manufacturers accounting for over 3/5th of market share. Some of the prominent players are GEA Group AG, SPX Flow Technology and Dedert Corporation among others.

The key stakeholders are focusing on value-added technologies related to evaporation, air distribution and atomization to amplify the company's position across the supply chain. This is primarily attributed to the continuous collaboration among companies towards meeting rising demand for spray dryers across industries mainly in food and pharmaceuticals.

This will pave the way for increased penetration in high growth markets of Asia Pacific as well as strengthen their footholds in regions such as Europe and North America.

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Find More Valuable Insights on the Spray Drying Equipment Market
Fact.MR, in its new offering, provides an unbiased analysis of the global market for spray drying equipment, with historical data on demand (2013-2018) and expected projections for the period 2019-20279. The report discloses compelling insights into the demand for spray drying equipment based on product (rotary atomizer, nozzle atomizer, fluidized, centrifugal, and closed loop), capacity (small (upto 2 tons/hr.), medium (2 - 50 tons/hr.), and large (more than 50 tons/hr.)), operating principle (direct and indirect), and end-use industries (food & beverage, chemical, pharmaceutical, and others) across several major regions.

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