Heat Recovery Dryer Market
Heat Recovery Dryer Market Forecasts to 2030 - Global Analysis By Type (Heat Pump, Belt, Refrigerant, Rotary, Plate, Thermal Fluid and Other Types), End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $815.2 MN |
|
Projected Year Value (2030) |
US $1,072.8 MN |
|
CAGR (2023 - 2030) |
4.0% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Heat Recovery Dryer Market is accounted for $815.2 million in 2023 and is expected to reach $1,072.8 million by 2030 growing at a CAGR of 4.0% during the forecast period. Heat Recovery Dryers are a sort of drying equipment that is often used in industrial settings to remove moisture from various commodities such as grains, food goods, or chemicals. It works by repurposing and recycling the heat produced during the drying process, which increases energy economy. The material is dried by being passed through a hot air circulation system. The material is saturated with moisture as a result of the hot air passing through, making the air humid.
Market Dynamics:
Driver:
Energy efficiency concerns
Businesses are putting more and more emphasis on cutting expenses and conserving energy. Heat recovery dryers provide an effective way to reduce energy usage by recycling waste heat. Reduced energy use results in a reduced carbon footprint and a decrease in greenhouse gas emissions, both of which support environmental sustainability. Heat recovery dryers can reduce utility costs over time by using less energy, which makes them more economical overall. This is the factor driving up demand for market expansion.
Restraint:
Performance variability
Factors like humidity levels, outside temperature, and the kind of material being dried can all affect how effective heat recovery dryers are. The recovery process may be less successful under some circumstances, which might affect the drying efficiency as a whole. Not every kind of textile is suited for these dryers. Heat recovery is not always beneficial for all materials, hence the additional cost is not always justified. This is the factor impeding the market's expansion.
Opportunity:
Technological advancements
Heat exchangers are now more efficient due to advancements in material science and design. Improved capacity to transport heat and increased surface area enable more efficient heat recovery during the drying phase. More attractive and practical heat recovery systems are now a reality for a wider range of sectors due to continuous technical breakthroughs. The demand for market expansion is being driven by this aspect.
Threat:
Complexity and cost of installation
Installing heat recovery dryers might be more complicated than typical dryer installations. Heat exchangers are among the extra parts they need, which raises the initial installation price. Heat recovery dryers may need a larger upfront investment than standard dryers, despite the fact that they provide long-term savings through energy efficiency. For companies with tight budgets, this upfront expense might be a negative aspect.
Covid-19 Impact:
Heat recovery dryer demand have changed. Due to closures or reduced operations, certain industries may have seen a fall in demand, while others—particularly those related to the production of critical products or healthcare—may have seen an increase in demand. The epidemic forced several sectors to concentrate on efficiency and innovation. This could have prompted R&D initiatives to improve the effectiveness, affordability, or flexibility of heat recovery dryers in response to shifting conditions.
The heat pump segment is expected to be the largest during the forecast period
The heat pump segment is expected to be the largest during the forecast period. Heat pump dryers use a lot less energy than conventional vented dryers. Generally speaking, these dryers run at lower temperatures than vented dryers, which are kinder on clothing. Delicate clothes won't be overdried or harmed by lower heat. Heat pump dryers lower the humidity in the laundry room by drawing moisture from the air and storing it in a tank or draining it out. This is especially useful in moist settings.
The pharmaceutical segment is expected to have the highest CAGR during the forecast period
The pharmaceutical segment is expected to have the highest CAGR during the forecast period. These dryers obtain the energy required for drying from a variety of waste heat sources, including solar heat, exhaust gases from engines, and industrial activities. The agricultural products are arranged in a room with circulating hot air. By helping to evaporate the moisture from the crops, the heat from the recovered source efficiently dries them out.
Region with largest share:
North America is projected to hold the largest market share during the forecast period. Heat recovery dryers are becoming more and more common because of their energy-saving construction. These dryers reduce the energy needed to heat the air and dry the clothes by recovering waste heat from the exhaust air and using it to pre-heat incoming air through the use of a heat exchanger. Heat recovery dryers are available from a number of manufacturers to meet the demands of both home and business customers.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period. The market for heat recovery dryers has been fueled by the region's increased emphasis on sustainability and energy efficiency. They assist businesses in cutting operating expenses by lowering energy usage and greenhouse gas emissions. Furthermore, a lot of the nations in the area have strict environmental laws, which forces businesses to invest in environmentally friendly technology like heat recovery dryers in order to meet these requirements.
Key players in the market
Some of the key players in Heat Recovery Dryer market include Jenn Sheng Precision Industry, Quanyang Machinery, Guangdong Wensui, Hitachi, Beko Technologies, Katsuragi, Takubo, Andritz Group, Shincci Global, Airex Industries, Tornum, Stela, Rudnick & Enners GmbH, Kumera, Lode Star and Zanin.
Key Developments:
In October 2021, ANDRITZ has announced started-up a heat recovery chain of the tissue machine PM3 at ICT at its mill in Piano di Coreglia, Italy. The heat recovery chain, supplied by ANDRITZ Novimpianti, includes a PrimeDry YES Yankee Ecosteam System that produces approximately one third of the steam required for the Yankee by utilizing exhaust air from the Yankee hood.
Types Covered:
• Heat Pump
• Belt
• Refrigerant
• Rotary
• Plate
• Thermal Fluid
• Other Types
Applications Covered:
• Energy
• Chemical
• Pharmaceutical
• Agriculture
• Textile
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Heat Recovery Dryer Market, By Type
5.1 Introduction
5.2 Heat Pump
5.3 Belt
5.4 Refrigerant
5.5 Rotary
5.6 Plate
5.7 Thermal Fluid
5.8 Other Types
6 Global Heat Recovery Dryer Market, By Application
6.1 Introduction
6.2 Energy
6.3 Chemical
6.4 Pharmaceutical
6.5 Agriculture
6.6 Textile
6.7 Other Applications
7 Global Heat Recovery Dryer Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Jenn Sheng Precision Industry
9.2 Quanyang Machinery
9.3 Guangdong Wensui
9.4 Hitachi
9.5 Beko Technologies
9.6 Katsuragi
9.7 Takubo
9.8 Andritz Group
9.9 Shincci Global
9.10 Airex Industries
9.11 Tornum
9.12 Stela
9.13 Rudnick & Enners GmbH
9.14 Kumera
9.15 Lode Star
9.16 Zanin
List of Tables
1 Global Heat Recovery Dryer Market Outlook, By Region (2021-2030) ($MN)
2 Global Heat Recovery Dryer Market Outlook, By Type (2021-2030) ($MN)
3 Global Heat Recovery Dryer Market Outlook, By Heat Pump (2021-2030) ($MN)
4 Global Heat Recovery Dryer Market Outlook, By Belt (2021-2030) ($MN)
5 Global Heat Recovery Dryer Market Outlook, By Refrigerant (2021-2030) ($MN)
6 Global Heat Recovery Dryer Market Outlook, By Rotary (2021-2030) ($MN)
7 Global Heat Recovery Dryer Market Outlook, By Plate (2021-2030) ($MN)
8 Global Heat Recovery Dryer Market Outlook, By Thermal Fluid (2021-2030) ($MN)
9 Global Heat Recovery Dryer Market Outlook, By Other Types (2021-2030) ($MN)
10 Global Heat Recovery Dryer Market Outlook, By Application (2021-2030) ($MN)
11 Global Heat Recovery Dryer Market Outlook, By Energy (2021-2030) ($MN)
12 Global Heat Recovery Dryer Market Outlook, By Chemical (2021-2030) ($MN)
13 Global Heat Recovery Dryer Market Outlook, By Pharmaceutical (2021-2030) ($MN)
14 Global Heat Recovery Dryer Market Outlook, By Agriculture (2021-2030) ($MN)
15 Global Heat Recovery Dryer Market Outlook, By Textile (2021-2030) ($MN)
16 Global Heat Recovery Dryer Market Outlook, By Other Applications (2021-2030) ($MN)
17 North America Heat Recovery Dryer Market Outlook, By Country (2021-2030) ($MN)
18 North America Heat Recovery Dryer Market Outlook, By Type (2021-2030) ($MN)
19 North America Heat Recovery Dryer Market Outlook, By Heat Pump (2021-2030) ($MN)
20 North America Heat Recovery Dryer Market Outlook, By Belt (2021-2030) ($MN)
21 North America Heat Recovery Dryer Market Outlook, By Refrigerant (2021-2030) ($MN)
22 North America Heat Recovery Dryer Market Outlook, By Rotary (2021-2030) ($MN)
23 North America Heat Recovery Dryer Market Outlook, By Plate (2021-2030) ($MN)
24 North America Heat Recovery Dryer Market Outlook, By Thermal Fluid (2021-2030) ($MN)
25 North America Heat Recovery Dryer Market Outlook, By Other Types (2021-2030) ($MN)
26 North America Heat Recovery Dryer Market Outlook, By Application (2021-2030) ($MN)
27 North America Heat Recovery Dryer Market Outlook, By Energy (2021-2030) ($MN)
28 North America Heat Recovery Dryer Market Outlook, By Chemical (2021-2030) ($MN)
29 North America Heat Recovery Dryer Market Outlook, By Pharmaceutical (2021-2030) ($MN)
30 North America Heat Recovery Dryer Market Outlook, By Agriculture (2021-2030) ($MN)
31 North America Heat Recovery Dryer Market Outlook, By Textile (2021-2030) ($MN)
32 North America Heat Recovery Dryer Market Outlook, By Other Applications (2021-2030) ($MN)
33 Europe Heat Recovery Dryer Market Outlook, By Country (2021-2030) ($MN)
34 Europe Heat Recovery Dryer Market Outlook, By Type (2021-2030) ($MN)
35 Europe Heat Recovery Dryer Market Outlook, By Heat Pump (2021-2030) ($MN)
36 Europe Heat Recovery Dryer Market Outlook, By Belt (2021-2030) ($MN)
37 Europe Heat Recovery Dryer Market Outlook, By Refrigerant (2021-2030) ($MN)
38 Europe Heat Recovery Dryer Market Outlook, By Rotary (2021-2030) ($MN)
39 Europe Heat Recovery Dryer Market Outlook, By Plate (2021-2030) ($MN)
40 Europe Heat Recovery Dryer Market Outlook, By Thermal Fluid (2021-2030) ($MN)
41 Europe Heat Recovery Dryer Market Outlook, By Other Types (2021-2030) ($MN)
42 Europe Heat Recovery Dryer Market Outlook, By Application (2021-2030) ($MN)
43 Europe Heat Recovery Dryer Market Outlook, By Energy (2021-2030) ($MN)
44 Europe Heat Recovery Dryer Market Outlook, By Chemical (2021-2030) ($MN)
45 Europe Heat Recovery Dryer Market Outlook, By Pharmaceutical (2021-2030) ($MN)
46 Europe Heat Recovery Dryer Market Outlook, By Agriculture (2021-2030) ($MN)
47 Europe Heat Recovery Dryer Market Outlook, By Textile (2021-2030) ($MN)
48 Europe Heat Recovery Dryer Market Outlook, By Other Applications (2021-2030) ($MN)
49 Asia Pacific Heat Recovery Dryer Market Outlook, By Country (2021-2030) ($MN)
50 Asia Pacific Heat Recovery Dryer Market Outlook, By Type (2021-2030) ($MN)
51 Asia Pacific Heat Recovery Dryer Market Outlook, By Heat Pump (2021-2030) ($MN)
52 Asia Pacific Heat Recovery Dryer Market Outlook, By Belt (2021-2030) ($MN)
53 Asia Pacific Heat Recovery Dryer Market Outlook, By Refrigerant (2021-2030) ($MN)
54 Asia Pacific Heat Recovery Dryer Market Outlook, By Rotary (2021-2030) ($MN)
55 Asia Pacific Heat Recovery Dryer Market Outlook, By Plate (2021-2030) ($MN)
56 Asia Pacific Heat Recovery Dryer Market Outlook, By Thermal Fluid (2021-2030) ($MN)
57 Asia Pacific Heat Recovery Dryer Market Outlook, By Other Types (2021-2030) ($MN)
58 Asia Pacific Heat Recovery Dryer Market Outlook, By Application (2021-2030) ($MN)
59 Asia Pacific Heat Recovery Dryer Market Outlook, By Energy (2021-2030) ($MN)
60 Asia Pacific Heat Recovery Dryer Market Outlook, By Chemical (2021-2030) ($MN)
61 Asia Pacific Heat Recovery Dryer Market Outlook, By Pharmaceutical (2021-2030) ($MN)
62 Asia Pacific Heat Recovery Dryer Market Outlook, By Agriculture (2021-2030) ($MN)
63 Asia Pacific Heat Recovery Dryer Market Outlook, By Textile (2021-2030) ($MN)
64 Asia Pacific Heat Recovery Dryer Market Outlook, By Other Applications (2021-2030) ($MN)
65 South America Heat Recovery Dryer Market Outlook, By Country (2021-2030) ($MN)
66 South America Heat Recovery Dryer Market Outlook, By Type (2021-2030) ($MN)
67 South America Heat Recovery Dryer Market Outlook, By Heat Pump (2021-2030) ($MN)
68 South America Heat Recovery Dryer Market Outlook, By Belt (2021-2030) ($MN)
69 South America Heat Recovery Dryer Market Outlook, By Refrigerant (2021-2030) ($MN)
70 South America Heat Recovery Dryer Market Outlook, By Rotary (2021-2030) ($MN)
71 South America Heat Recovery Dryer Market Outlook, By Plate (2021-2030) ($MN)
72 South America Heat Recovery Dryer Market Outlook, By Thermal Fluid (2021-2030) ($MN)
73 South America Heat Recovery Dryer Market Outlook, By Other Types (2021-2030) ($MN)
74 South America Heat Recovery Dryer Market Outlook, By Application (2021-2030) ($MN)
75 South America Heat Recovery Dryer Market Outlook, By Energy (2021-2030) ($MN)
76 South America Heat Recovery Dryer Market Outlook, By Chemical (2021-2030) ($MN)
77 South America Heat Recovery Dryer Market Outlook, By Pharmaceutical (2021-2030) ($MN)
78 South America Heat Recovery Dryer Market Outlook, By Agriculture (2021-2030) ($MN)
79 South America Heat Recovery Dryer Market Outlook, By Textile (2021-2030) ($MN)
80 South America Heat Recovery Dryer Market Outlook, By Other Applications (2021-2030) ($MN)
81 Middle East & Africa Heat Recovery Dryer Market Outlook, By Country (2021-2030) ($MN)
82 Middle East & Africa Heat Recovery Dryer Market Outlook, By Type (2021-2030) ($MN)
83 Middle East & Africa Heat Recovery Dryer Market Outlook, By Heat Pump (2021-2030) ($MN)
84 Middle East & Africa Heat Recovery Dryer Market Outlook, By Belt (2021-2030) ($MN)
85 Middle East & Africa Heat Recovery Dryer Market Outlook, By Refrigerant (2021-2030) ($MN)
86 Middle East & Africa Heat Recovery Dryer Market Outlook, By Rotary (2021-2030) ($MN)
87 Middle East & Africa Heat Recovery Dryer Market Outlook, By Plate (2021-2030) ($MN)
88 Middle East & Africa Heat Recovery Dryer Market Outlook, By Thermal Fluid (2021-2030) ($MN)
89 Middle East & Africa Heat Recovery Dryer Market Outlook, By Other Types (2021-2030) ($MN)
90 Middle East & Africa Heat Recovery Dryer Market Outlook, By Application (2021-2030) ($MN)
91 Middle East & Africa Heat Recovery Dryer Market Outlook, By Energy (2021-2030) ($MN)
92 Middle East & Africa Heat Recovery Dryer Market Outlook, By Chemical (2021-2030) ($MN)
93 Middle East & Africa Heat Recovery Dryer Market Outlook, By Pharmaceutical (2021-2030) ($MN)
94 Middle East & Africa Heat Recovery Dryer Market Outlook, By Agriculture (2021-2030) ($MN)
95 Middle East & Africa Heat Recovery Dryer Market Outlook, By Textile (2021-2030) ($MN)
96 Middle East & Africa Heat Recovery Dryer Market Outlook, By Other Applications (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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