Press release
Filtration & Drying Equipment Market Outlook 2024: Exclusive Report By The Business Research Company
Filtration & Drying Equipment Market
The Business Research Company offers in-depth market insights through Filtration & Drying Equipment Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The filtration & drying equipment market size has grown strongly in recent years. It will grow from $1.81 billion in 2023 to $1.95 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to environmental regulations, industrial growth, quality and safety standards, globalization of industries, health and safety concerns, cost efficiency.
The filtration & drying equipment market size is expected to see strong growth in the next few years. It will grow to $2.64 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to increasing industrialization, evolving environmental standards, rising demand in emerging markets, focus on sustainable practices, pharmaceutical and biotechnology advancements. Major trends in the forecast period include technological advancements, increased focus on sustainability, stringent regulatory standards, customized filtration solutions, globalization of supply chains, hybrid drying technologies.
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Market Segmentation:
The filtration & drying equipment market covered in this report is segmented -
1) By Equipment Type: Full Automatic Equipment, Semi-Automatic Equipment
2) By Technology: Centrifuges, Agitated Nutsche Filter-Dyers (ANFD), Other Technologies
3) By End Use: Pharmaceutical, Chemicals, Water and Wastewater Treatment, Food and Beverage, Other End Users
Major Driver - Rising Pharmaceutical R&D Expenditure Boosts Filtration And Drying Equipment Market
The increasing pharmaceutical spending on research and development is expected to propel the growth of the filtration and drying equipment market going forward. Research and development refer to the process by which businesses gather information in order to develop new products or find innovative ways to enhance their current goods and services. Filtration and drying equipment is used in research and development to test and refine products or processes before commercial use and to determine material properties through microstructural characterization. For instance, in November 2022, according to the National Statistics Institute (INE), a Spain-based government agency, in 2021, the amount spent on internal research and development was 17,249 million USD. In addition, compared to 2020, this spending equaled 1.43 percent of GDP, an increase from 1.41 %. Spending on research and development climbed by 9.2% over the previous year. Therefore, increasing pharmaceutical spending on research and development is driving the growth of the filtration and drying equipment market.
Competitive Landscape:
Major companies operating in the filtration & drying equipment market report are GMM Pfaudler Ltd., Tsukishima Kikai Co. Ltd., Heinkel Process Technology GmbH, Jaygo Incorporated, Amar Equipment Pvt. Ltd., Shree Bhagwati Machtech Pvt. Ltd., Powder Systems Ltd., HLE Glascoat Limited, Charles Thompson Limited., Little Men Roaring LLC, Pope Scientific Inc., Promas Engineers Private Limited., Comi Polaris Systems Inc., 3V Tech S.p.A, Bachiller, Chem Flowtronics Inc., BHS-Sonthofen GmbH, Komline-Sanderson Engineering Corporation, ANDRITZ AG, SPX FLOW Inc., Carrier Vibrating Equipment Inc., FLSmidth & Co. A/S, GEA Group AG, Hosokawa Micron Corporation, Metso Outotec Corporation, Nara Machinery Co. Ltd., Pneumatic Scale Angelus, Rosenmund AG, Swenson Technology Inc., TEMA Process B.V. .
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Top Trend - Product Advancements In The Filtration And Drying Equipment Market
Product innovation is a key trend gaining popularity in the filtration and drying equipment market. Major companies operating in filtration and drying equipment are focused on developing innovative solutions to strengthen their position in the market. For instance, in March 2021, Donaldson Company Inc., a US-based manufacturer of innovative filtration products and solutions, launched its new product, Ultrapac. It is a smart dryer for compressed air process filtration applications. The unique features of this product include its modular design for flexible orientations. Smart communication and ultrasilencers reduce noise pollution and help provide safe working conditions, as well as easy handling of maintenance and service.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Filtration & Drying Equipment Market Characteristics
3. Filtration & Drying Equipment Market Trends And Strategies
4. Filtration & Drying Equipment Market - Macro Economic Scenario
5. Filtration & Drying Equipment Market Size And Growth
…..
27. Filtration & Drying Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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