Contact and Convective Dryers Market is reaching a valuation of US$ 252.4 Million by 2029 - Comprehensive Research Report by FMI
The global contact & convective dryers market is estimated to top US$ 199.1 Million by 2022. Growing emphasis on drying across industries as an imperative process for the sustenance of product quality is favoring the growth in the market.
Future Market Insights (FMI), in its latest research study,
examines the growth trail of Contact and Convective Dryers Market for the
assessment timeframe of 2022-2029. According to the research study, sales of
contact and convective dryers reached ~ 2,649 units in 2021, with an estimated
Y-o-Y increase of 2.8% to be witnessed in 2022.
Increasing focus on industrial drying as an imperative for
sustenance of product quality is emerging as a bedrock for growth of contact
and convective dryers market, finds the FMI study. Industrial drying remains
one among the most-demanding unit operations, and this demand continues to firm
up as end user industries navigate toward achieving ‘operational efficiency’.
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According to the report, the role of contact and convective
dryers in form of intermittent drying equipment is likely to be prominent in
2022 and beyond, as they address the fundamental drying requirements before the
products go upstream for complex drying processes. However, limited
installation rate coupled with low replacement ratio are two of the key factors
expected to pose significant challenges for manufacturers of contact and
convective dryers.
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
signalling 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 2022. 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.
Competitive Landscape
Leading players operating in the global contact &
convective dryers market are focusing on providing customized products as per
the end use requirements. Some of the other companies are aiming at entering
into strategic collaboration, partnership, acquisition, and mergers with
players to strengthen their market footprint.
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