Contact and Convective Dryers Market is reaching a valuation of US$ 252.4 Million by 2029

Contact and Convection Dryers Market – Analysis, Forecasts, Growth, Trends, Forecast

Dubai, United Arab Emirates, January 26, 2022 (GLOBE NEWSWIRE) – Global Contact and Convection Dryers Market estimated up 199.1 million US dollars By 2022. The increasing focus on drying across industries as an imperative process to maintain product quality is in favor of market growth.

Future Market Insights (FMI), in its latest research study, examines the growth trajectory of the Contact and Convection Dryers market for the assessment time frame 2022-2029. According to the research study, sales of contact dryers and load dryers reached approximately 2,649 units in 2021, with an estimated year-over-year increase of 2.8% in 2022.

Describe

details

Estimated Convection and Contact Dryers Market Size in 2022

US$ 199.1 Mn

The forecast size of the contact and convection dryers market in 2029

US$ 252.4 Mn

Historic Compound Annual Growth Rate (CAGR) for Contact and Load Dryers Market (2014-2021)

2.9%

Compound Annual Growth Rate (CAGR) Based on Contact and Load Dryers Market Value (2022-2029)

3.4%

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The FMI study finds that an increased focus on industrial drying as an imperative to maintain product quality has become the cornerstone of the growth of the contact and convection dryers market. Industrial drying remains one of the most demanding unit operations, and this demand continues to grow as end user industries move towards “operating efficiencies”.

According to the report, the role of contact and convection dryers in the form of intermittent drying equipment is likely to be prominent in 2022 and beyond, as they address basic drying requirements before products move upstream for complex drying processes. However, the limited installation rate along with the low replacement ratio are two major factors that are expected to pose significant challenges to both contact and convection dryer manufacturers.

Fast-paced growth in processing sectors leads to gains in developing economies

The FMI study notes that the rapid growth of manufacturing industries in fast-growing economies, such as South Asia and East Asia, indicates the emergence of new opportunities for market players to tap into. The high dependence of contact drying and convection to effectively meet drying requirements, especially for powders, remains one of the major factors driving its demand in industrial process ducts. The leading market players are redesigning their expansion strategies with a stronger orientation towards these areas, so that they establish themselves firmly in these “already opportunistic” markets and generate significant profits.

According to the study, sales of contact dryers will continue to outpace sales of convective dryers, with global sales expected to reach approximately 1,768 units in 2022. While higher energy efficiency continues to be the biggest selling point for contact dryers, reduced environmental impact and lower costs are two factors. Two others support her appearance. In addition, contact dryers possess an unparalleled ability in terms of heat buildup and retention, ensuring their viability among the end user market.

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Report scope

Describe

details

prediction period

2022-2029

Historical data available for

2014-2021

market analysis

Million USD value

Main areas covered

North America, Latin America, Europe, East Asia, South Asia, Middle East and Africa

Main countries covered

United States, Canada, Germany, United Kingdom, France, Italy, Spain, Poland,
Russia, China, Japan, South Korea, India, Thailand, Malaysia,
Vietnam, Indonesia, Australia, New Zealand, GCC countries,
Turkey, North Africa, South Africa

Main parts covered

Product type, direction, application and area

An overview of the main companies

Report coverage

Market forecast, brand share analysis, competition
Intelligence, DROT Analysis, Market Dynamics and
Challenges, strategic growth initiatives

As suggested in the FMI analysis, the Contact and Convection Dryers market displays a higher degree of uniformity at the bottom, with mid- and emerging players capturing a significant portion of the global market share. Market participants will continue to invest in service and supply contracts with end users as the main cornerstone of their sales strategy. Market players are taking advantage of the “digitalization” trend to support customers in terms of improved designs and operating costs.

Custom contact dryers and convection will remain a major focus for manufacturers to revive their business models, an FMI research study reveals. Since product customization is one of the best tools companies can use to understand the needs of the end user, manufacturers focus on product customization to diversify their offerings and reach new markets with minimal modifications to their business models. Manufacturers active in the Contact and Load Dryers market will continue to place their bets on strategic mergers and acquisitions, with new possibilities as a result of pooling experiences and shared resources.

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Competitive scene

The leading players operating in the global Contact and Load Dryers market focus on providing customized products as per the end-use requirements. Some other companies aim to enter into strategic collaboration, partnership, acquisition and merger with players to enhance their market footprint.

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market information and advisory services, serving clients in more than 150 countries. FMI is headquartered in Dubai, with delivery hubs in the UK, US and India. The latest market research and industry analysis reports from FMI help companies face challenges and make critical decisions with confidence and clarity amidst intense competition. Our customized and syndicated market research reports provide actionable insights that drive sustainable growth. FMI’s expert-led team of analysts constantly track emerging trends and events in a wide range of industries to ensure our clients are prepared for the evolving needs of their clients.

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