Centrifugal Industrial Dryer Market Size Expected to Hit US$ 426.8 Million by 2034, Exhibiting 4.8% CAGR | Fact.MR Analysis
Rockville, MD , Sept. 18, 2024 (GLOBE NEWSWIRE) -- According to a new industry research report published by Fact.MR, a market research and competitive intelligence provider, the global Centrifugal Industrial Dryer Market is estimated to reach a value of US$ 267.1 million in 2024 and further increase at a 4.8% CAGR throughout the projection period (2024 to 2034).
Continuous technological innovation is driving the market growth of centrifugal industrial dryers. Complex control systems and automation are two examples of these technical advancements that are enhancing the precision and dependability of centrifugal industrial dryers and assisting companies in improving their operations.
The North American region is currently holding a leading position. In the coming ten years, East Asia is projected to surpass the revenue of North America due to the growing demand for centrifugal industrial dryers from well-established industries such as textile, chemicals, and food processing. The region's manufacturing sectors are growing because of increasing production capacity, which is driving up demand for efficient drying solutions.
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Key Takeaways from Market Study:
- The global centrifugal industrial dryer market is projected to reach US$ 426.8 million by 2034-end.
- East Asia is forecasted to account for 31.8% of the global market share by 2034-end.
- The North American market is analyzed to reach a valuation of US$ 89.2 million in 2024.
- China is approximated to account for 56.4% of the East Asian market share in 2024.
- Global sales of centrifugal industrial dryers in food processing are evaluated to rise at 7% CAGR between 2024 and 2034.
- Sales of centrifugal industrial dryers in Japan are forecasted to touch US$ 32.7 million by 2034.
- Based on operation principle, the direct segment is estimated to hold 67.4% revenue share in 2024.
“To provide more effective products with improved performance, lower energy consumption, and automation features, prominent players in the centrifugal industrial dryer market are investing in research and development operations,” says a Fact.MR analyst
Leading Players Driving Innovation in the Centrifugal Industrial Dryer Market:
Key players in the centrifugal industrial dryer industry are Sukup Manufacturing Co., Gala Industries, Inc., Genox Recycling Tech Co., Ltd., BelAir Finishing Supply Corp., Gostol TST d.d., Auto Technology Company, ZIRBUS Technology, Wave Power Equipment, Firex, BEC Midlands, Greco Brothers.
Application of Centrifugal Industrial Dryers Increasing in Metal Finishing:
Centrifugal industrial dryers are being widely used in metal finishing because they effectively remove moisture and impurities from parts. Centrifugal industrial dryers are essential for metal finishing processes such as painting and plating because they ensure the longevity and caliber of the finishing. By providing strong and reliable drying, centrifugal industrial dryers assist in achieving consistent outcomes and lowering the risk associated with flaws.
With superior moisture removal and high-speed operations, centrifugal dryers are becoming more common in metal finishing procedures. This is because they reduce processing times and improve surfacing quality.
Centrifugal Industrial Dryer Industry News:
- Major competitors in the centrifugal industrial dryer market are spending money on research and development to provide cutting-edge products with automated features, better performance, and lower energy consumption. Many manufacturers are focusing on streamlining their supply chains and production processes in order to cut costs. Enhanced material sourcing tactics, optimized production procedures, and lean manufacturing approaches are a few instances of waste reduction.
- To improve customer satisfaction and create new revenue streams, a number of businesses are expanding their offerings to include maintenance, training, and technical support.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the centrifugal industrial dryer market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on operating principle (direct, indirect) and application (metal finishing, food processing, plastic recycling, chemicals, pharmaceuticals), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
Segmentation of Centrifugal Industrial Dryer Market Research:
By Operating Principle :
- Direct
- Indirect
By Application :
- Metal Finishing
- Food Processing
- Plastic Recycling
- Chemicals
- Pharmaceuticals
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