Future Market Insights (FMI) examines the growth trajectory of the contact and convective dryers market for the assessment timeframe of 2022-2029 in its latest research study. According to the research study, sales in the global contact & convective dryers market are expected to rise at a CAGR of 3.4% between 2022 and 2029, according to Future Market Insights (FMI). The growing use of contact and convective dryers in the food and beverage industries is propelling the market forward.
According to FMI, East Asia will continue to be the dominant market, followed by South Asia, accounting for approximately 32.8% of sales in 2022. The top four market players are expected to account for nearly 30%-32% of the market through 2029.
According to the FMI study, the growing emphasis on industrial drying as a necessity for maintaining product quality is emerging as a foundation for the growth of the contact and convective dryers market. Industrial drying remains one among the most-demanding unit operations, and this demand continues to firm up as end user industries navigate towards achieving ‘operational efficiency’.
Over the last three decades, industrial drying has seen proactive efforts to boost research and development (R&D) in order to adapt to changing product requirements. Growing investments in research and development activities are ushering in new beginnings for the market in the form of new product developments and innovations.
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The role of contact and convective dryers in the form of intermittent drying equipment is expected to be prominent in 2019 and beyond, according to the report, because they address the fundamental drying requirements before the products go upstream for complex drying processes. However, manufacturers of contact and convective dryers will face significant challenges due to the limited installation rate and low replacement ratio.
Fast-Paced Growth of Processing Verticals Unlocking Gains in Developing Economies
The FMI study opines that sky-rocketing growth of processing industries in fast-growing economies, such as South Asia and East Asia, are signaling the emergence of new opportunities for the market players to leverage. High adoption of contact and convective dryers to effectively meet the drying requirements, especially for powders, remains one of the key factors pushing their demand in industrial processing streams. Leading market players are redesigning their expansion strategies with a stronger orientation toward these regions, so that they firmly establish themselves in this ‘already-opportunistic’ markets and reap large profits.
According to the study, sales of contact dryers will continue to outpace the sales of convective dryers, with global sales estimated to reach ~ 1,768 units in 2019. While higher energy efficiency continues to be the biggest selling point of contact dryers, reduced environmental footprint and low costs are two more factors underpinning their visibility. In addition, contact dryers possess unmatched ability in terms of accumulation and retention of heat, which further warrants its viability amidst the end-user marketplace.
As suggested by FMI’s analysis, the contact and convective dryers market showcases higher degree of consolidation at the bottom, with mid-level and emerging players commanding for a major chunk of the global market share. The market participants will continue to invest in service and supply contracts with end-users as a key cornerstone of their sales strategy. Market players are capitalizing on the trend of ‘digitalization’ to support customers in terms of optimized designs and operating costs.
Customized contact and convective dryers will remain a prime focus for manufacturers to revive their business models, unveils the FMI research study. As product customization is one of the best tools businesses can use to comprehend the end user needs, manufacturers are focusing on product personalization to diversify their offerings and reach new markets with minimum tweaks to their business models. Manufacturers active in the contact and convective dryers market will continue placing their bets on strategic mergers and acquisitions, with new possibilities as a result of combined-expertise and shared resources pool.
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Contact & Convective Dryers Market by Category
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, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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