Austin, Jan. 16, 2025 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that, “The Industrial Evaporators Market size was valued at USD 20.4 billion in 2023, and is expected to reach USD 32.6 billion by 2032, and grow at a CAGR of 5.4% over the forecast period 2024-2032.”
Energy Efficiency and Technological Innovations Driving Growth in the Industrial Evaporators Market
The Industrial Evaporators market is driven by rising demands for energy-efficient solutions across industries like food and beverages, chemicals, and pharmaceuticals, driven by concerns over water conservation and waste management. Technological advancements, particularly in multi-effect evaporators (MEEs), are pushing the market forward, providing more energy-efficient options for energy-intensive sectors. In May 2023, a global provider launched an advanced evaporator designed to improve energy efficiency and reduce operational costs, particularly for the food and beverage industry. These innovations are aligned with sustainability goals, bolstering the market's growth and meeting regulatory demands while enhancing heat recovery and minimizing environmental impact.
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Major Players:
- Belmar Technologies Ltd. (Evaporator System, Heat Exchanger)
- Colmac Coil Manufacturing, Inc. (Colmac Evaporator, Stainless Steel Evaporators)
- Coilmaster Corporation (Coilmaster Evaporator, Direct Expansion Evaporators)
- De Dietrich Process Systems (Thin Film Evaporator, Forced Circulation Evaporator)
- GEA Group AG (GEA Evaporator, GEA Rotatube Evaporator)
- JEOL Ltd. (Rotary Evaporator, Thin Film Evaporator)
- Saltworks Technologies Inc. (Saltworks Evaporator, Advanced Evaporation System)
- SPX Flow Inc. (APV Evaporators, SPX Flow Falling Film Evaporator)
- Sumitomo Heavy Industries, Ltd. (Falling Film Evaporator, Forced Circulation Evaporator)
- SUEZ Water Technologies & Solutions (EcoClear Evaporator, Evaporator System)
- Veolia Water Technologies (VSEP Evaporator, Vacuum Evaporator)
- Alfa Laval (Alfa Laval Plate Evaporator, Alfa Laval Evaporation Systems)
- Andritz AG (Andritz Evaporator, Evaporator System)
- Krones AG (Krones Evaporator, Krones Forced Circulation Evaporator)
- Mitsubishi Heavy Industries, Ltd. (MHI Falling Film Evaporator, MHI Forced Circulation Evaporator)
- Pentair PLC (Pentair Evaporator, Evaporator System)
- The Dow Chemical Company (Dow FilmTec Evaporator, Dow Industrial Evaporators)
- Scherzer GmbH (Scherzer Evaporator, Thin Film Evaporator)
- ThermoEnergy Corporation (ThermoEnergy Evaporator, Evaporation Technology)
- Xylem Inc. (Xylem Evaporator, Xylem Industrial Evaporators)
Industrial Evaporators Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 20.4 Billion |
| Market Size by 2032 | USD 32.6 Billion |
| CAGR | CAGR of 5.4% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | •By Type (Falling Film Evaporators, Rising Film Evaporators, Forced Circulation Evaporators, Agitated Thin Film Evaporators, Mechanical Vapor Recompression, Others) •By Construction Type (Shell & Tube Evaporators, Plate Evaporators) •By Capacity (Small Capacity Evaporators, Medium Capacity Evaporators, Large Capacity Evaporators) •By End-Use Industry (Pharmaceutical, Chemical & Petrochemical, Electronics & Semiconductor, Pulp & Paper, Food & beverage, Automotive, Others) |
| Key Drivers | •Environmental Regulations and Sustainability Initiatives Are Encouraging the Use of Green Evaporation Systems •Rising Demand for Wastewater Treatment Solutions is Driving the Growth of Industrial Evaporators in Environmental Applications |
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By Type: Falling Film Evaporators Lead the Market with High Efficiency and Energy Conservation
In 2023, Falling Film Evaporators held a 40% market share, favored for their efficiency with heat-sensitive fluids and ability to operate at lower temperatures. Used in food, beverage, pharmaceutical, and chemical industries, they offer high evaporation efficiency and energy conservation, making them a preferred choice for continuous processes.
By Construction Type: Shell & Tube Evaporators Dominate in High-Pressure, High-Temperature Environments
Shell & Tube Evaporators led with 60% market share in 2023, excelling in industries like petrochemicals, power generation, and refrigeration. Their robust design allows them to handle large flow rates, high temperatures, and pressures, making them ideal for large-scale operations with reliable heat transfer.
By Capacity: Medium Capacity Evaporators Offer Balance of Cost and Performance
Medium Capacity Evaporators captured 45% of the market in 2023, providing an optimal balance for mid-sized industries. Used in food, beverage, chemical, and pharmaceutical sectors, they offer flexibility, lower costs, and efficient performance for continuous or batch processes, making them a cost-effective solution.
By End-Use Industry: Chemical & Petrochemical Sector Drives Market with High Demand for Efficiency
The Chemical & Petrochemical industry led the industrial evaporators market in 2023 with a 30% share. The sector requires high-efficiency evaporators for processes like chemical concentration and solvent recovery. The focus on energy efficiency and sustainability is boosting demand, ensuring long-term growth for this segment.
Regional Analysis
North America Dominates the Industrial Evaporators Market with a 35% Share in 2023
In 2023, North America dominated with a 35% share of the industrial evaporators market, driven by a robust industrial base and high demand across sectors like food, pharmaceuticals, and chemicals. The U.S., benefiting from advanced infrastructure and energy-efficient technologies, is a key player, while Canada’s food processing industry further strengthens the region's position.
Asia-Pacific Emerges as the Fastest-Growing Region with 7.5% CAGR in 2023
Asia-Pacific emerged as the fastest growing region in 2023, with a 7.5% CAGR, fueled by rapid industrialization in China and India. China’s expanding chemical and energy sectors and India’s booming food & beverage industry are major contributors, with Southeast Asian nations like Thailand and Vietnam benefiting from government incentives and growing food exports.
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Recent Developments
- March 2023: Colmac Coil Manufacturing, based in the U.S., unveiled three new customizable configurations for its A+P Insulated Penthouse Air Coolers (evaporators), offering options like an insulated base, pitched base, and dual coil design to improve installation flexibility.
- April 2023: Artisan Industries Inc. launched the ROTOTHERM MINI, a lab-scale continuous evaporator/dryer. Featuring thin-film separation technology used in their larger models, it is designed for continuous evaporation and the drying of heat-sensitive liquids into powder.
The industrial evaporators market is driven by the increasing demand for energy-efficient and sustainable evaporation technologies across sectors such as food and beverage, chemicals, pharmaceuticals, and petrochemicals. Key factors fueling growth include innovations in evaporator technologies like multi-effect and forced circulation systems and rising concerns about water conservation and waste management. Manufacturers are focused on enhancing efficiency while ensuring cost-effectiveness, making industrial evaporators critical for industries requiring high-performance solutions for concentration, solvent recovery, and drying processes. The market is expected to continue expanding, especially in emerging regions like Asia-Pacific.
Table of Contents – Major Key Points
1. Introduction
- Market Definition
- Scope (Inclusion and Exclusions)
- Research Assumptions
2. Executive Summary
- Market Overview
- Regional Synopsis
- Competitive Summary
3. Research Methodology
- Top-Down Approach
- Bottom-up Approach
- Data Validation
- Primary Interviews
4. Market Dynamics Impact Analysis
- Market Driving Factors Analysis
- PESTLE Analysis
- Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
- Market Adoption Rates, 2023
- Impact of Industrialization, 2023
- Regulatory Impact, by Country, 2023
- Energy Consumption Patterns, 2023
- Innovation and R&D, 2023
- Price Sensitivity and Cost Factors, 2023
6. Competitive Landscape
- List of Major Companies, By Region
- Market Share Analysis, By Region
- By Product Benchmarking
- Strategic Initiatives
- Technological Advancements
- Market Positioning and Branding
7. Industrial Evaporators Market Segmentation, by Type
8. Industrial Evaporators Market Segmentation, by Construction Type
9. Industrial Evaporators Market Segmentation, by Capacity
10. Industrial Evaporators Market Segmentation, by End-Use Industry
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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