The global industrial dryers market was valued at USD 4.00 billion in 2015 and is projected to reach USD 6.37 billion by 2026, at a CAGR of 4.3% from 2016 to 2026. This growth can be attributed to the increasing demand for industrial dryers from the end-use industries such as food, pharmaceutical, chemicals, fertilizer, cement, minerals, and paper & pulp. ThyssenKrupp AG (Germany), Andritz AG (Austria), GEA Group (Germany), Metso Corporation (Finland), FLSmidth & Co. A/S (Denmark), Buhler Holding AG (Switzerland), ANIVI Ingeniería SA (Spain), Carrier Vibrating Equipment, Inc. (U.S.), COMESSA (France), and Mitchell Dryers Ltd. (U.K.) are some of the leading players in this market.
The Asia-Pacific region was the largest industrial dryers market in 2015 owing to the rise in demand for industrial dryers in this region from the end-use industries such as food, pharmaceutical, chemicals, fertilizer, cement, minerals, and paper & pulp in the region. China, India, and Japan are the leading countries in terms of consumption of industrial dryers in the Asia-Pacific region. The easy availability of raw material and labor and the increase in demand from end-use industries is projected to drive the growth of the industrial dryers market in these countries.
The key players operational in the industrial dryers market are focusing on acquisitions, agreements, expansion, and new product developments to cater to the increasing demands across various industry verticals. Metso Corporation (Finland) and GEA Group (Germany) reported the highest number of developments in the global industrial dryers market between 2011 and 2016.
