Global Filtration & Drying Equipment Market Overview 2024: Size, Drivers, And Trends
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033
The Business Research Company’s Filtration & Drying Equipment Global Market Report 2024 offers crucial insights into the filtration & drying equipment market help businesses analyse and build stronger strategies.
The filtration & drying equipment market has experienced robust growth in recent years, fueled by various factors including technological advancements and rising demand in key industries. Understanding the market dynamics and emerging trends is crucial for stakeholders looking to capitalize on its growth potential.
Current Market Landscape and Projections
- The market size surged from $1.81 billion in 2023 to $1.95 billion in 2024, boasting a compound annual growth rate (CAGR) of 8.0%.
- Forecasted to reach $2.64 billion by 2028, with a CAGR of 7.8%, the market presents significant opportunities for expansion and innovation.
Factors Fueling Growth
Rising Pharmaceutical R&D Expenditure
- The increasing spending on pharmaceutical research and development (R&D) is a key driver propelling the growth of the filtration and drying equipment market.
- Filtration and drying equipment play a crucial role in pharmaceutical R&D, facilitating product testing and refinement processes.
- Statistics from the National Statistics Institute (INE) indicate a significant rise in pharmaceutical R&D spending, underscoring the market’s growth potential.
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Product Advancements Driving Innovation
- Product innovation emerges as a prominent trend shaping the filtration and drying equipment market.
- Major companies are focusing on developing innovative solutions to enhance operational efficiency and safety.
- For example, Donaldson Company Inc. introduced Ultrapac, a smart dryer for compressed air process filtration applications, featuring modular design and smart communication capabilities.
Major Players Driving Market Growth
- GMM Pfaudler Ltd.
- Tsukishima Kikai Co. Ltd.
- Heinkel Process Technology GmbH
- Jaygo Incorporated
- Amar Equipment Pvt. Ltd.
- And many more…
Strategic Acquisitions Expanding Global Presence
Komline-Sanderson Corporation’s Expansion
- In June 2022, Komline-Sanderson Corporation acquired Wyssmont Company, a move aimed at expanding its global presence and specialty drying capabilities.
- This strategic acquisition strengthens Komline-Sanderson’s position in key product categories and enhances its offerings in the global market.
Segmentation of the Market
By Equipment Type
- Full Automatic Equipment
- Semi-Automatic Equipment
By Technology
- Centrifuges
- Agitated Nutsche Filter-Dyers (ANFD)
- Other Technologies
By End Use
- Pharmaceutical
- Chemicals
- Water and Wastewater Treatment
- Food and Beverage
- Other End Users
Regional Insights
- Asia-Pacific emerged as the largest region in the filtration and drying equipment market in 2023, showcasing its dominance in the industry.
Conclusion
The filtration & drying equipment market continues to witness robust growth, driven by factors such as rising pharmaceutical R&D expenditure and product innovation. Strategic acquisitions further contribute to market expansion, enabling companies to strengthen their global presence and diversify their offerings. With promising projections and emerging trends such as technological advancements and sustainability initiatives, the market presents abundant opportunities for growth and innovation in the years ahead.
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The Filtration & Drying Equipment Global Market Report 2024 provides a comprehensive outlook of the filtration & drying equipment market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The filtration & drying equipment market forecast offers a thorough analysis on filtration & drying equipment market size, filtration & drying equipment market share, prominent players and their strategies.
The Table Of Content For The Filtration & Drying Equipment Market Include:
1. Filtration & Drying Equipment Market Executive Summary
2. Filtration & Drying Equipment Market Segments
3. Filtration & Drying Equipment Market Size And Filtration & Drying Equipment Market Growth Rate
4. Key Filtration & Drying Equipment Market Trends
5. Major Filtration & Drying Equipment Market Drivers
……
25. Key Mergers And Acquisitions In The Filtration & Drying Equipment Market
26. Top Filtration & Drying Equipment Companies
27. Filtration & Drying Equipment Market Opportunities And Strategies
28. Filtration & Drying Equipment Market, Conclusions And Recommendations
29. Appendix
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