Dec 24th, 2022. 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 Drying Curing Equipment Market
The Drying Curing Equipment market is projected to grow from USD 546.9 Million in 2020 to USD 637.0 Million by 2026 at a CAGR of over 2.6% during the forecast period.
Drying curing equipment is a mechanical device that utilizes thermal energy to reduce the moisture content of a material, for drying an object. Dryer by heating the material in the wet, usually refers to moisture or other volatile liquid components, vaporized to escape, to obtain a specified moisture content of solid materials. It has a strong application base primarily in the printing and manufacturing industry.
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Drying Curing Equipment Market Share: By Type Trends
By type, the drying curing equipment market has been bifurcated into UV drying curing equipment, IR drying curing equipment, and others.
- Under this segment, UV, and IR both segments are witnessing a healthy growth rate in the overall drying curing equipment market.
- Growing technology advancement and increased adoption of the latest drying tools are observed as the most significant factors building strong demand for drying curing equipment across the world.
Drying Curing Equipment Market Share: By Region
Based on geography, the market is categorized across North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- The North American and European market has witnessed the highest market share in fiscal 2020 and is projected to grow at a high CAGR during the review period.
- This is mainly attributed to the growing customer demand for drying curing equipment across the regions.
- Technology advancement and rise in corporate spending are some of the factors setting a high demand for drying curing equipment across these regions.
- Moreover, the growing economies in developing countries are propelling the demand for drying curing equipment.
- This factor further ensuring the growth of the drying curing equipment market during the forecast period.
COVID-19 Impact on Global Drying Curing Equipment Market
Covid-19 outbreak impacted the growth of the bearing for steel market negatively. The spread of coronavirus led to enforcement of lockdown to curb the spread of virus. This led to travel restrictions and supply chain disruptions, which in turn affected the product availability on time.
Key players operating in the Drying Curing Equipment market are-
- IST METZ GmbH (Germany),
- Heraeus (Germany),
- GEW (The U.S),
- Phoseon (The U.S),
- Lumen Dynamics (Canada),
- Miltec (The U.S),
- Nordson (The U.S),
- AMS (The U.S),
- Kyocera (Japan),
- Panasonic (Japan), among others.
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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 Drying Curing Equipment Market 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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