Rockville, March 16, 2023 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the Europe thermal dryer market is estimated at US$ 298 million in 2023 and is expected to expand at an impressive CAGR of 3.3% during the forecast years of 2023-2033.
Europe is renowned for its commitment to sustainability and effective trash disposal. Recycling plastic plays a significant role in the shift towards a green, circular European economy. Recycling enables Europe to break its dependence on natural resources and move the continent closer to a self-sufficient, sustainable economy. Increasing use of thermal dryer in this product recycling businesses with support from regional government is positively impacting its market growth.
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During the forecast period, the target market's expansion is also anticipated to be fuelled by the increased demand from the food and pharmaceutical industries. Expansion of end use industries is expected to underpin the growth of thermal dryers’ market in the coming years. Further, the demand is anticipated to increase as more advanced machinery is used in a number of end-use sectors. Customised accessories to enhance the function of thermal dryers in each field has thrusted the market notably. This deployment of better technology in the processing sectors, is expected to mount its utilisation, consequently expanding the market during the forecast period.
The diversifying applications of thermal dryer are expected to create huge demand of the product in the near future, peaking its cost in the mid of the forecast period.
Key Takeaways from Market Study
- The Europe thermal dryer market is projected to expand at an impressive CAGR of 3.3% and be valued at US$ 412 million by 2033.
- The market witnessed 3% CAGR for the period of 2018-2022.
- Under operation, the semi-automatic thermal dryer segment is estimated to grow with a CAGR of 3.3% during the period 2023 to 2033.
- Germany is expected to dominate the market with absolute dollar growth of US$ 32.6 million.
- Based on country, the demand for thermal dryer is expected to increase at CAGRs of 2.1% and 2.9%, respectively, in UK and Nordics in forecast period.
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Competitive Landscape
In order to establish their position in the industry, the market participants are using both organic and inorganic growth tactics. The number of consolidations in the thermal dryer manufacturing industry has increased during the last five years. This is mainly attributable to efforts made by businesses to accommodate the growing demand for thermal dryers.
Many businesses are also concentrating on organic growth tactics, including product launches, product approval, and many more. Acquisition, partnership, and collaboration are examples of inorganic growth strategies used by major players in the market. The aforementioned actions are opening doors for market players to expand their clientele and operations.
• In Sep 2021, By acquiring AEP, a compressor distributor and service provider with headquarters in Paris, Atlas Copco expanded its market presence in France. This would boost the business's visibility and ensure steady demand.
Key Companies
- Dutch Dryers BV
- Alprime
- Huber SE
- Bachiller
- INNOTECH Ingenieursgesellschaft mbH
- ANDRITZ SEPARATION
- The Witte Company
- Santex Rimar Group
- Bühler Group
- ASI, Division of Thermal Technologies Inc.
- Thyssenkrupp
- GEA Group AG
Market Development
In order to streamline the supply chain, market participants have established long-term partnerships with end use industries. Additionally, major players get government agency contracts that include product installation, maintenance, and replacement tenders. By acquiring local and regional distributors throughout prospective layouts, dominant players are continuously expanding their geographic reach.
Also, manufacturers are expanding their R&D resources to broaden their product offerings and implementing manufacturing techniques that guarantee better products and higher quality. Additionally, by giving customers access to more products and increasing price competitiveness, emerging manufacturers are attempting to increase consumer penetration.
Segmentation of Thermal Dryer Industry Research
- By Operation:
- Automatic
- Semi-Automatic
- Manual
- By Use Case:
- WTE Plans
- Plastic Production and Processing
- Plastic Recycling
- Resin Processing
- By Country:
- Germany
- France
- UK
- BENELUX
- Nordics
- Italy
- Spain
- Rest of Europe
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the Europe thermal dryer market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of operation (automatic, semi-automatic, manual), use case (WTE plans, plastic production and processing, plastic recycling, resin processing), across major countries of Europe (Germany, France, UK, BENELUX, Nordics, Italy, Spain, rest of Europe).
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Key Questions Covered in the Europe Thermal Dryer Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Europe Thermal Dryer sales grow until 2033?
- Which are the factors hampering the Europe Thermal Dryer demand?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the Europe Thermal Dryer Market during the forecast period?
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