NEWARK, Del, Dec. 18, 2023 (GLOBE NEWSWIRE) -- The conveyor dryer market is on the cusp of a significant valuation surge, with projections pointing towards an impressive US$ 966.9 million by 2024. Growing interest and a deepening understanding of the conveyor dryer’s capabilities drive this remarkable ascent. The market is poised to unlock new avenues, exhibiting a CAGR of 3.1% from 2024 to 2034. As the journey continues, the market is anticipated to achieve an estimated total valuation of approximately US$ 1,350.7 million by 2034.
The conveyor dryer market is experiencing a notable surge, fueled by technological advancements and increasing applications across various industries. This market, characterized by integrating artificial intelligence (AI) technologies, is poised for substantial growth. AI-driven innovations in conveyor dryers are transforming traditional processes, enhancing efficiency, and optimizing performance across manufacturing and processing sectors.
One of the key factors driving the market's growth is the rising demand for automation and smart solutions in industrial processes. Conveyor dryers equipped with AI algorithms enable real-time monitoring and control, ensuring precise temperature and moisture regulation during drying. This improves product quality and contributes to energy efficiency, reducing operational costs for businesses.
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The versatility of conveyor dryers is another driving force behind the market's expansion. These systems have extensive applications in food processing, textiles, and pharmaceuticals. With AI integration, conveyor dryers can adapt to varying production needs, making them indispensable for industries with diverse product lines. The ability to handle different materials and adjust drying parameters on the fly enhances manufacturing processes overall flexibility and responsiveness.
AI-driven conveyor dryers contribute to sustainability goals by optimizing resource utilization. The intelligent algorithms can analyze and predict optimal drying conditions, minimizing energy consumption and waste generation. This aligns with the global push for eco-friendly and resource-efficient industrial practices.
As the conveyor dryer market continues to evolve, manufacturers are focusing on developing user-friendly interfaces and seamless integration with existing production systems. This ensures businesses can easily adopt and leverage AI-powered conveyor dryers without significant disruptions.
Key Takeaways from the Market Study
- The market valuation in 2019 was US$ 819.4 million.
- Based on product type, roller conveyors are expected to dominate at a market share of 33% in 2024.
- The United States is estimated to register at a CAGR of 2.7% by 2034.
- Australia experiences significant growth, projected at a CAGR of 2.8% by 2034.
“Integrating AI in conveyor dryers contributes to energy efficiency and resource optimization is expected to drive industry growth in the conveyor dryer market,” opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Competitive Landscape
The market demonstrates a propensity for mergers and acquisitions as a strategic growth and expansion avenue. Companies engage in strategic mergers and acquisitions to acquire new technologies, expand their product portfolios, and strengthen their market presence. This consolidation strategy enables them to leverage synergies and create a more robust customer offering.
Key Players in the Conveyor Dryer Market
- BBC Industries
- Ryonet
- ROQ International
- Anatol
- Adelco
- Ranar
- Vastex
- MHM Company
- Brown Manufacturing
- Buhler
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Key Segments of Conveyor Dryer Market Survey
By Type:
- Roller Conveyor Dryers
- Conveyor Belt Dryers
- Infrared Conveyor Dryer
- UV Conveyor Dryer
- Radio Frequency Conveyor Dryer
By Application:
- Paper and Pulp
- Textile and Fashion
- Printing
- Food Processing
- Pharmaceuticals
- Electronics
- Other Applications
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East & Africa
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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