Dec 17, 2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Refrigerated Air Dryer Market.
It was estimated prior to this unanticipated outbreak that the Refrigerated Air Dryer Market is likely to witness an impressive CAGR of 6.3% during the forecast period. The considerable factors responsible for the significant growth in the market are growing number of manufacturing units in developing countries including India, China, Brazil, and Taiwan, growing usage of pneumatic conveying systems in the food processing industry, and also increasing number of hospitals with the need for advanced medical tools during the forecast period.
Refrigerated air dryers are one of the most famous and widespread air dryer types which usually generate air with pressure dew points between 35 and 40° F, and employ a cooling process that causes prevention of moisture. These dryers are not designed for circuits that see sub-freezing temperatures, and they may not be suitable for more critical processes where extreme dry air is required.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the product type, the market is segmented as cycling, non-cycling, and others. The cycling segment is estimated to account for the largest share of the market. The growth of the segment is attributed to its low energy consumption and maintaining dew point features during the entire process, which causes low maintenance cost. These products can be found in two energy-saving modes, the load/unload mode and the thermal bank mode. Basically, the integration of temperature and humidity sensors are used by these products which automate the refrigeration process.
Based on the application type, the market is segmented as chemical, paper, food & beverages, pharmaceutical, healthcare, and others. Food & beverage is estimated to be the dominant application type in the market owing to its growing usage in food processing and packaging plants. There are various applications such as filling, processing, and closing gable-top cartons in the food & beverage industry fueling the market growth. Further, chemical industry is estimated to witness considerable growth rate in the market during the forecast period, the growth being attributed to its ability to offer a clean medium for pneumatic conveying which transfers chemicals in granular, powdered, and pellet forms.
In terms of regions, North America is estimated to be the dominant region of the market owing to the growing number of food & beverage industries in the U.S. These products are utilized to enhance the quality of food by preventing any kind of contamination caused by moisture content. Further, Europe is expected to witness a significant growth rate during the forecast period, attributed to an increased demand across the medical sector, and various regulations on compressed air quality used in manufacturing processes, resulting in fueling the growth of the regional market. Asia-Pacific is also expected to offer substantial growth opportunities during the forecast period.
Key Players:
Key players operating in the global Refrigerated Air Dryer market are-
- Anest Iwata Corporation
- Atlas Copco Group
- BEKO Technologies GmbH
- Donaldson Company, Inc.
- Eaton Compressor
- Gardner Denver, Inc.
- Ingersoll Rand, Inc.
- Kaesec Compressors Private Limited
- Parker Hannifin Corporation
- SPX Corporation (Deltech).
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Refrigerated Air Dryer analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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