Report ID: UCMIG20I2229
Report ID:
UCMIG20I2229 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
In 2022, the global spray dryer market had a total worth of approximately USD 5.59 billion. It is anticipated that this market will experience steady growth, with projections estimating it to reach USD 8.95 billion by 2030, indicating a compound annual growth rate (CAGR) of 6.1% over the forecast period starting from USD 5.90 billion in 2023. Spray drying, a technique that transforms liquids or slurries into dry powders through the application of hot air, is widely employed for drying heat-sensitive products like pharmaceuticals and food items. Furthermore, industries such as food, chemicals, and pharmaceuticals are bolstering the global spray drying equipment market due to their continual expansion and demand for these drying solutions.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Industrial Machinery by segment aggregation, the contribution of the Industrial Machinery in Capital Goods and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG20I2229