Pune, May 15, 2023 (GLOBE NEWSWIRE) -- A global research and business-consulting firm, Maximize Market Research, has published a market intelligence report on the “Industrial Evaporators Market”. The report is a combination of primary data and secondary data and domain experts have analyzed the Industrial Evaporators Market from a local as well as a global point of view. Over the forecast period, Maximize Market Research expects the market to grow from USD 19.6 Bn in 2022 to USD 28.9 Bn in 2029 at a CAGR of 6.8 percent.
Industrial Evaporators Market Report Scope and Research Methodology
| Market Size in 2022 | USD 19.6 Bn. |
| Market Size in 2029 | USD 28.9 Bn. |
| CAGR | 6.8 percent (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 276 |
| No. of Tables | 116 |
| No. of Charts and Figures | 114 |
| Segment Covered | Type, Construction Type, Product Form, and End-User |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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The report offers a quantitative analysis of the current drivers, restraints, trends, estimations, and opportunities in the Industrial Evaporators Market, providing insights into prevailing opportunities during the forecast period. PORTER's five forces analysis evaluates the profit-oriented strategic decisions and supplier-buyer networks of market participants. In-depth analysis, market size, and segmentation aid in determining the current market potential. The report provides a comprehensive analysis to stakeholders interested in investing in the global industrial evaporators market, encompassing past and current market scenarios with forecasted size. It includes strategic profiling of key players, analyzing their core competencies, growth strategies, and market presence to guide investors. Mergers and acquisitions are among the strategies employed by players to expand market share and seize growth opportunities.
Industrial Evaporators Market Overview
Industrial evaporation is a widely employed technique in various industries to extract the liquid component from a solution or mixture. It involves the utilization of specialized equipment known as evaporators, which employ heating, pressure, or a combination of both to achieve the separation of liquid from the solution. Industrial evaporators find extensive application in sectors such as food and beverage, pharmaceuticals, chemicals, and wastewater treatment. These devices are specifically designed to handle substantial liquid volumes and can operate continuously or in batch processes, depending on the particular requirements of the application. Industrial evaporators play a vital role in minimizing waste generation, reducing energy consumption, and enhancing overall process efficiency by concentrating and separating liquids.
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Industrial Evaporators Market Dynamics
The industrial evaporators market is experiencing significant growth primarily driven by the rising demand for water and wastewater treatment solutions. These evaporators play a crucial role in treating wastewater by eliminating contaminants and impurities, ensuring its safety for reuse or discharge into the environment. By reducing the volume of water and wastewater, industrial evaporators facilitate easier and more cost-effective transportation and treatment processes. The market's expansion is pivotal in meeting the escalating water and wastewater treatment requirements, which are vital for public health and strongly advocated by the World Health Organization (WHO). Safe water and sanitation are essential for maintaining public health and preventing the transmission of waterborne diseases. The WHO acknowledges the significance of effective water and wastewater treatment and has established guidelines to promote the adoption of suitable practices. Insufficient water and sanitation services contribute to approximately 4% of global deaths, with around 2 million annual deaths attributed to diarrheal diseases resulting from poor water quality and inadequate sanitation.
Industrial evaporators are extensively employed in water and wastewater treatment to remove pollutants and contaminants from water sources. These systems play a critical role in reducing the propagation of waterborne diseases and ensuring the safety of drinking water. Additionally, they are utilized in treating industrial wastewater to mitigate environmental impact and comply with regulatory standards. The WHO's recognition of the importance of efficient water and wastewater treatment further emphasizes the significance of industrial evaporators. The organization has established guidelines and standards that advocate for the use of these evaporators as a key technology for eliminating contaminants from water sources. As the demand for high-quality water and wastewater treatment continues to rise, the industrial evaporators market is witnessing ongoing growth. Companies are actively developing advanced technologies and solutions to meet this demand. Particularly in developing countries with limited access to safe water and sanitation, the adoption of these solutions is expected to increase significantly.
Industrial Evaporators Market Regional Insights
During the forecast period, the Asia Pacific region is anticipated to witness the highest growth rate in the industrial evaporators market. This is primarily attributed to the region's rapid industrialization, urbanization, and expanding population, which drive the demand for advanced and efficient industrial evaporators. The substantial population and growing middle class in the region are fueling the demand for processed foods, pharmaceuticals, and chemicals, further propelling the market growth. China and India serve as key markets within the Asia Pacific region, attracting numerous major players who are establishing manufacturing plants to capitalize on the escalating demand. The region's dominance in the industrial evaporators market is expected to persist due to favorable government policies, competitive labor costs, and increasing investments in industrial infrastructure. Furthermore, the Asia Pacific region benefits from favorable government policies and rising investments in the food processing industry, which bolster the demand for industrial evaporators. Market leaders are offering tailored solutions that cater to the specific needs of the food and beverage sector, such as handling high-viscosity fluids, minimizing fouling, and facilitating easy cleaning. The ongoing growth of the food and beverage industry in the Asia Pacific region is projected to sustain the demand for industrial evaporators, contributing significantly to the region's leading position in the global market.
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Industrial Evaporators Market Segmentation
By Type:
- Climbing Film Evaporator.
- Short-tube Vertical Evaporator.
- Basket-type Evaporator.
- Long-tube Vertical Evaporator.
- Plate Evaporators.
- Horizontal Tube Shell-Side Evaporator.
A new mechanical vapor compression concept incorporating plate heat exchanger as evaporator/condenser. The industrial evaporator market is segmented into the plate evaporators segment and emerged as the largest contributor to revenue in 2022. Plate evaporators are highly efficient in terms of energy savings, offer expandable capacity, exhibit the highest heat transfer coefficients, enable higher product concentration, and are easier to clean compared to shell and tube evaporators. Both types of evaporators find widespread application across various industries. However, plate evaporators are expected to dominate the market thanks to their compact size, high thermal efficiency, and versatility. The increasing demand for energy-efficient and cost-effective evaporators is a significant driver of growth in the plate-type market, particularly in industries such as food and beverage, and chemicals. These industries place a premium on compact equipment with high thermal efficiency to optimize their processes and reduce energy consumption. The plate-type evaporators fulfill these requirements and offer several advantages over traditional shell and tube evaporators, leading to their increasing adoption in the market.
By Construction Type:
- Plate Type Evaporators
- Shell and Tube Evaporators
By Product Form
- Falling Film
- Rising Film
- Forced Circulation
- Agitated Film
- Mechanical Vapour Recompression
- Others
By End-User
- Pharmaceutical
- Chemical& petrochemical
- Electronics
- Food and beverage
- Automotive
- others
Industrial Evaporators Key Competitors include:
- Alfa Laval
- Belmar Technologies Ltd.
- Coilmaster Corporation
- ADF system Humboldt,Lowa
- Colmac Coil Manufacturing, Inc.
- De Dietrich Process System
- GEA Group AG, JEOL Ltd.
- Praj Industries Ltd
- RELCO LLC
- ENCON Evaporators
- Environmental Dynamics International(EDI)
- KMU LOFT Cleanwater GmbH
- Mech chem associates, lnc.
- Technoforce solution B.V
- Buchi Labortechnik A
- Saltwalk Technologies Inc.
- SMI Evaporative Solutions
- SPX Flow Inc.
- SUEZ Water Technologies and Solution
- Sumitomo Heavy Industries Ltd
- Veolia Water Technologies.
- Rufouz Hitek Engineers Pvt. Ltd
Veolia Water Technologies Inc., was awarded a contract by Smurfit Kappa to increase liquor treatment capacity and optimize the efficiency of recovery boiler operation by installation of an HPD concentration and evaporation system. In addition, recently in 2022, Lone Star completed its acquisition with SPX Flow.
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Key questions answered in the Industrial Evaporators Market are:
- What is Industrial Evaporators Market?
- What was the Industrial Evaporators Market size in 2021?
- What is the expected Industrial Evaporators Market size during the forecast period?
- What are the global trends in the Industrial Evaporators Market?
- What are the major restraints for the Industrial Evaporators Market?
- Which segment dominated the Industrial Evaporators Market growth?
- What is the demand pattern for the Industrial Evaporators Market?
- What growth strategies are the players considering to increase their presence in Industrial Evaporators Market?
- What are the upcoming industry applications and trends for the Industrial Evaporators Market?
- Who are the leading companies and what are their portfolios in Industrial Evaporators Market?
- Which region dominates the largest market share in Industrial Evaporators Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, Organization Size, Application and Industry Vertical
- Market Segmentation – A detailed analysis by Type, Application and Distribution Channel
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
