New York, United States , March 07, 2023 (GLOBE NEWSWIRE) -- The Global Filtration & Drying Equipment Market Size to grow from USD 2.2 billion in 2021 to USD 3.6 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 9.1% during the forecast period.
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Over the forecast period, market growth is anticipated to be fueled by the adoption of various business strategies, advanced technology, and rising R&D expenditures in the pharmaceutical industry, as well as the advantages of filtration and drying equipment like high standards and a variety of temperature ranges and types. The rising older population in the United States is causing the pharmaceutical industry to grow. The U.S. pharmaceutical industry is growing due to improved purchasing power and access to high-quality healthcare and drugs for families in the worldwide lower and middle classes, in addition to the ageing and expanding population. Another factor contributing to this growth is pharmaceutical companies' growing focus on rare and specialised disorders. Innovations in the fields of nucleic acid therapeutics, sophisticated biologics, cell therapies, bioelectronics, and implantable technologies are also contributing to the growth of the American pharmaceutical industry and have drawn non-pharma companies like Facebook, Qualcomm, and others to make investments in the field. The aforementioned factors are driving the market for filtration and drying equipment. Rapid industrial expansion and technological advancements in the industrial sector are the primary drivers of the US market for speciality chemicals. Additionally, due to the increasing demand for cutting-edge speciality products, enterprises in the US chemical sector are centering their efforts on the development of unique and cutting-edge speciality chemicals. Large agglomeration formation is undesirable since it requires additional size-reduction techniques for processing in the future. It is projected that as a result, the market for filtration and drying equipment would expand more slowly.
Browse key industry insights spread across 200 pages with 113 market data tables and figures & charts from the report “Global Filtration & Drying Equipment Market Size, Share, and COVID-19 Impact Analysis, By Technology (Centrifuges, Agitated Nutsche Filter-Dyers (ANFD), Others), By End Use (Food & Beverage, Chemical, Pharmaceutical), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030“. in detail along with the table of contents.
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The Centrifuges segment is dominating the market with the largest market share.
On the basis of technology, the global filtration & drying equipment market is segmented into Centrifuges, Agitated Nutsche Filter-Dyers (ANFD), Others. Among these, the Centrifuges segment is dominating the market with the largest market share. The fact that centrifuges produce fewer offensive odours during the dewatering process than do conventional systems is just one of their numerous advantages. This significantly reduces odor-related annoyances and the cost of heavily deodorising the environment. Centrifuges are used to separate fluids, gases, or liquids based on their densities. The separation is accomplished by quickly spinning the material's container. The resulting forces cause the heavier components to descend to the bottom of the container. The speed regulation range, setting resolutions, centrifuge weight, nominal operating voltage, and power consumption are a few factors to consider while choosing a centrifuge.
The Chemical segment is dominating the market with the largest market share.
Based on the end use, the global filtration & drying equipment market is segmented into Food & Beverage, Chemical, Pharmaceutical. Among these, the chemical segment is dominating the market with the largest market share. Filtration and drying equipment are being used more frequently in the chemicals sector because to their excellent chemical resistance and adherence to the necessary filtration standards to get the best quality end products.
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Asia Pacific is dominating the market with the largest market share over the forecast period.
Among all other regions, Asia Pacific is dominating the market with the largest market share over the forecast period. The market is expected to grow as a result of rising demand for filtering and drying equipment in these and other end-use industries, such as pharmaceutical, chemical, food and beverage, and water and wastewater treatment.
Central & South America is expected to register a CAGR of 9.1% over the forecast period owing to an increase in power, food & beverage, and energy setups that necessitates high-quality water for use in product processing, The region's manufacturing activity in the electronics, automotive, chemical, and pharmaceutical industries is expanding significantly due to coordinated government measures. Followed by North America, Europe holds the second-largest share in the filtration and drying market growth.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Filtration & Drying Equipment Market include GMM Pfaudler, Tsukishima Kikai Co., Ltd., HEINKEL Process Technology GmbH, Jaygo Incorporated, Amar Equipment Pvt. Ltd., Shree Bhagwati Machtech (India) Pvt. Ltd., Powder Systems Limited, HLE Glascoat. And Others.
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