Refrigerated Dryers Market Size, Share, Growth, And Industry Analysis, By Type (Intermittent Type, and Continuous Type), By Application (Bioengineering, Pharmaceutical Industry, Food Industry, and Other), Regional Forecast From 2023 to 2031

Updated On: 22 April 2024

Refrigerated Dryers Market Report Overview

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The global refrigerated dryers market size is expanded rapidly in 2022 and market is expected to generate substantial revenue by 2031, exhibiting a high compound annual growth rate (CAGR) from 2022 to 2031.

Refrigerated dryers used to remove moisture from compressed air systems are called refrigerator dryers. The wet, warm air is inhaled by them. These dryers typically produce air with pressure dew points of 35 to 40 degrees Fahrenheit and use a cooling technique to assist keep moisture at bay.

The basic idea behind refrigerated dryers is to quickly cool, condense, and drain moisture from air in a controlled setting to dehumidify it. When the warm, moist air enters the dryer, it is cooled to a temperature of roughly 3°C. Due to their minimal maintenance costs and energy-saving features, these dryers are economical.

The market for air dryers is anticipated to be driven by the rising need for refrigerated dryer equipment in sectors like food packaging, pharmaceuticals for oxidation processes, and cleaning and transporting pills, tablets, and capsules. Also, numerous additional restrictions established by the National Fire Protection Agency for the healthcare sector as well as laws implemented by the FDA (Food and Drug Association) would favorably affect the refrigerated dryer market during the course of the projected year. Furthermore, manufacturers are working to create customized, autonomous, and energy-efficient refrigerated dryer systems.

COVID-19 Impact: adversely affected the market due to the disrupted supply chain

The COVID-19 pandemic had a negative impact on several of the key manufacturing and processing sectors, including the automotive, oil & gas, chemicals, pharmaceuticals, and electricity industries since activities had to be suspended for months. As a result, supply chains in the industrial sector were disrupted because it took some time for businesses to get back to work after the COVID-19-related limitations were lifted. The market for refrigerated dryers suffered as a result in 2020.

Latest Trends

"Implementing modern technologies to augment growth in the market"

One of the most recent trends that will take off in the refrigerated dryer industry over the next four years is the integration of loT with refrigerated dryers. IoT enables device communication without the involvement of humans or computers. It also aids management teams in improving building and equipment control, which lowers operating expenses. Businesses have begun attempting to connect various gadgets to loTs. "Voice of Machine," a plan by Parker Hannifin to guarantee standardization across all IoT-enabled products throughout its refrigerated dryers and other products, is now in place. This will support the business's monitoring and preventative maintenance schedules for the compressed air piping systems in factories.

Refrigerated Dryers Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into intermittent type, continuous type

• By Application Analysis

Based on application, the market can be divided into bioengineering, pharmaceutical industry, food industry, and others.

Driving Factors

"Application in food and health care to drive the market growth"

Dry and clean air is necessary for the regular and efficient operation of end use sectors such as food and beverage production, general manufacturing, and healthcare. Impurities could damage the delivery system or block it up. One of the major priorities of these end use industries is outstanding air quality. Thus, it is anticipated that growing industrial demand for compressed air will fuel the worldwide refrigerated dryers market during the course of the forecast period.

"Rapid development boosts the market growth"

Rapid development in developing nations is anticipated to propel the market for air dryers forward. Throughout the projected period, it is anticipated that increased sensor technology integration will fuel the market. The demand for air dryers is rising as a result of improvements in industrial processes, energy conservation, noise reduction, and overall system reliability.

Restraining Factors

"Cost of electricity and machinery may hinder the growth"

Throughout the projection period, increasing power costs while utilizing refrigerator dryers is anticipated to restrain market growth. Also, growing capital expenditure on machinery is another issue. As a result, customers frequently rent equipment, which saves them money on initial investment and upkeep. These elements could limit the market's expansion.

Refrigerated Dryers Market Regional Insights

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"North America dominant the market due to the growing food and beverage in the region"

Due to the expanding food and beverage industries in the U.S., North America is predicted to dominate the market in terms of regions. These items are used to improve food quality by preventing any contamination brought on by moisture levels. Also, Europe is anticipated to experience a substantial growth rate during the forecast period, which can be attributable to rising medical sector demand and different laws on compressed air quality used in manufacturing processes, which will fuel the regional market's expansion. During the forecast period, Asia-Pacific is also anticipated to present significant growth prospects.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Sumake (Taiwan)
• Pneumatic Products (Australia)
• OMI Italy (Italy)
• Mikropor (Turkey)
• Ingersoll Rand (U.S)
• Airpol (U.S)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.