Increasing demand for food is expected to lead to high demand for organic fertilizer dryers, thereby offering lucrative growth opportunities for players in the market. For instance, according to Food and Agriculture Organization, worldwide food demand is expected to increase by 70% by 2050.

Moreover, increasing mining activities are expected to boost demand for rotary drum dryers, thereby aiding in growth of the market. For instance, according to India Brand Equity Foundation, mineral production in India grew at a CAGR of 5.72 per cent between 2013-14 and 2017-18E to reach US$ 17.62 billion in 2017-18.

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Key Takeaways:

• Asia Pacific holds the dominant position in the global Industrial dryer market and is expected to witness significant growth over the forecast period 2020-27. This is owing to emerging economies such as China and India. Emerging economies such as India and China are growing rapidly with high growth of various industries such as chemicals, food, pharmaceutical, and mining & minerals. Industrial dryers find major applications in the aforementioned industries. The efficiency of the drying process has a massive impact on the quality of the product and its efficiency as well. Furthermore, the availability of a large number of dryers and their suitability for all kinds of materials have resulted in a dramatic rise in demand from end-use industries.
• Among End-use industry segment, Chemical sub segment is expected to dominate the global Industrial dryer market over the forecasted period 2020-27. This is owing to the significant growth in the chemical industry in the last 2-3 years. For instance, According to the ICCA Economic Analysis Report 2019, Companies in the chemical industry have spent about US$ 3 Trillion in 2017 for buying good, services and machinery. Moreover, the quality of the product in the pharmaceutical industry is a major concern. This is also important due to strict government regulations over product quality and its specification in food and pharmaceutical industry. Generally, products in the industries are heat sensitive that require suitable devices for drying process.

Industrial Dryer Market 2020-2027 Report supplies an analysis of their segmentation and manufacturers from the regional market. The Industrial Dryer Market consists of profiles of market players, product capacity, information, applications, sales and share gross profit are added for better understanding.

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Note- This Report Sample Includes:

1) Brief Introduction to the research report.
2) Table of Contents (Scope covered as a part of the study)
3) Top players in the market
4) Research framework (presentation)
5) Research methodology adopted by CMI

This report studies the market with many aspects of the industry like the market size, market status, market trends, and forecast, the report also provides brief information of the competitors and the specific growth opportunities with key market drivers. Market segmentation by companies, region, and type forms an integral part of this report. Historical data available in the report supports the market development on national, regional and international levels. This is an informative study covering the market with in-depth analysis and portraying the current state of affairs in the industry.

Industrial dryer is used to process large quantities of bulk materials that need reduced moisture levels. There are different types of industrial dryers depending on the type and quantity of material to be processed, conduction dryers, convection dryers, dispersion dryers, fluidized bed dryers, pharmaceutical dryers, rolling bed dryers, rotary dryers, suspension/paste dryers, and toroidal bed are some of the most commonly used industrial dryers.

The global Industrial dryer market is estimated to account for US$ 2,929.7 Mn in 2019 and is expected to grow at a CAGR of 3.5 % over the forecasted period 2020-27.

Market Drivers:

Significant growth in the pharmaceutical sector is expected to propel growth of the global industrial dryers market over the forecast period. For instance, according to Pharmaceutical Research and Manufacturers of America, over 750 orphan drugs were approved in the U.S. in 2018, compared to over 600 in 2017.

Moreover, increasing demand for gelatin is also expected to boost growth of the market. Gelatin is used in functional and nutraceutical foods, which increases demand for food-grade gelatin, collagen peptide and sub protein. Gelatin dryer is used in drying stage of gelatin products.

Market Opportunities:

Increasing demand for food is expected to lead to high demand for organic fertilizer dryers, thereby offering lucrative growth opportunities for players in the market. For instance, according to Food and Agriculture Organization, worldwide food demand is expected to increase by 70% by 2050.

Moreover, increasing mining activities are expected to boost demand for rotary drum dryers, thereby aiding in growth of the market. For instance, according to India Brand Equity Foundation, mineral production in India grew at a CAGR of 5.72 per cent between 2013-14 and 2017-18E to reach US$ 17.62 billion in 2017-18.

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 Industrial dryers are used to effectively process large quantities of bulk materials that require reduced moisture levels. Industrial dryers are available in different sizes depending upon the amount of material needing to be dried. Generally, dryers function on two principles namely direct drying and indirect drying whereas various types of dryers are available in the market including a flash dryer, rotary dryer, spray dryer, and fluidized dryer. Industrial dryers find applications in various sectors including pharmaceutical, food, chemical, mining & minerals, constructions, etc. Other types of dryers are also available such as paddle dryers that are used where maximum heat transfer is required.

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Key players operating in the global LED services market are Thorlux Lighting, Bright Special Lighting S.A., Cree Inc., LEDVANCE GmbH, KKDC Co., Ltd., Philips Lighting Holding B.V., Global Light LLC, OPPLE Lighting Co., Ltd., Endo Lighting Corp., Ideal Industries, and Reggiani SPA.

Market Dynamics- Restraints

1. High initial costs related to LED devices, installation, and services are expected to hamper the global LED services market growth over the forecast period

The major restricting factor for adoption of LED lightings is its relatively high initial installation costs as compared to substitute technologies such as CFL. This is due to the fact that LED performance majorly depends upon installation type and fixture. The fixtures need to be installed in such a way that minimum heat is generated by the LED.  Any harm to the LED chip by heat can lead to device failure.