Contact and Convective Dryers Market Poised to Exceed US$ 252.4 Million by 2029 with a 3.4% CAGR

The global contact and convective dryers market is on an upward trajectory, with a robust valuation expected to exceed US$199.1 million by 2022. This surge is driven by the growing recognition across various industries of the essential role that drying plays in maintaining product quality.

Looking ahead to the forecast period from 2022 to 2029, the global contact and convective dryers market is projected to experience steady growth, with sales poised to increase at a notable Compound Annual Growth Rate (CAGR) of 3.4%. According to Future Market Insights (FMI), this growth journey is expected to culminate in a valuation of approximately US$252.4 million. The expansion of contact and convective dryers' applications in the food and beverages industry is a key driver of this market growth.

In this trajectory, FMI's forecast identifies East Asia as a dominant market, closely followed by South Asia, together contributing to around 32.8% of sales by 2022. At the forefront of this evolution, the top four market players are expected to exert significant influence, accounting for an estimated 30%-32% of the market's landscape throughout the forecast period, underscoring the competitive dynamics of the industry.

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- FMI Study Identifies Industrial Drying's Vital Role in Fueling Contact and Convective Dryers Market Growth:

Industrial drying, a cornerstone in safeguarding product quality, has emerged as a pivotal catalyst propelling the expansion of the contact and convective dryers market, as revealed by the comprehensive study conducted by FMI. Within the intricate landscape of unit operations, industrial drying takes a prominent position, fueled by the relentless pursuit of "operational efficiency" across end-user industries.

The FMI study underscores the significance of contact and convective dryers, particularly in their capacity as intermittent drying equipment. In the journey ahead, these dryers are slated to occupy a central role in 2022 and beyond. Their pivotal function lies in addressing fundamental drying prerequisites, priming products for subsequent intricate drying stages. Nonetheless, manufacturers are poised to grapple with challenges including limited installation rates and a low replacement ratio, intricacies that underscore the delicate equilibrium within the contact and convective dryers market.

- Key Takeaways from the Global Contact & Convective Dryers Market Insight:

Steady Demand Growth: The global contact & convective dryers market experienced a consistent demand surge, achieving a notable 2.9% compound annual growth rate (CAGR) during the assessment period from 2014 to 2021.
Functional Excellence: These dryers, essential in industrial operations, play a pivotal role by supplying essential heat for evaporation and moisture removal. Their distinct attribute lies in delivering uniform and dependable heating throughout the vessel, significantly enhancing end product quality and durability.
Enhanced Application Scope: As intermittent drying equipment, contact & convective dryers are harnessed across diverse sectors including food & beverage, chemicals, metallurgy, pharmaceuticals, and manufacturing. This versatility stems from their efficacy in reducing moisture and facilitating product curing.
Emerging Economic Drivers: The thriving chemical and pharmaceutical industries, notably in burgeoning economies such as China and India, are instrumental in propelling market demand. This growth trend paves the way for a projected 3.4% CAGR from 2022 to 2029, signaling sustained expansion for the global contact & convective dryers market.

- Key Companies Profiled in Report:

Andritz-Gouda B.V.
GEA Group AG
FLSmidth
ThyssenKrupp AG
Meter Group, Inc
Others

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- Key Segments Covered:

By Product Type:
Contact
Convective

By Orientation:
Horizontal
Vertical

By Application:
Pharmaceuticals
Metallurgy
Food & Beverages
Chemicals
Auxiliary Manufacturing

By Region:
North America
Europe
Latin America
South Asia
East Asia
Middle East & Africa (MEA)

About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:
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Future Market Insights Inc.
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Suite 401, Newark, Delaware - 19713, USA
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Website: https://www.futuremarketinsights.com

This release was published on openPR.