DUBAI, United Arab Emirates, April 20, 2022 (GLOBE NEWSWIRE) -- The global desiccant wheel market is projected to rise at a CAGR of 5.1% through the forecast period of 2022 to 2032, rising from an initial valuation of US$ 431.5 Mn in 2022 to US$ 708.4 Mn in 2032.
Desiccant dehumidifiers have demonstrated their ability to be significantly more effective and faster than compressor-based dehumidifiers, boosting the desiccant wheel market share. Furthermore, growing electricity costs and the portability of desiccant dehumidifiers are expected to boost global demand for desiccant wheels.
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A list of Key Players Covered in the Desiccant Wheel Market are:
- Munters
- NovelAire Technologies
- DRI
- Trane
- Rotor Source Inc.
- Airxchange Inc.
- FlaktGroup
- Proflute AB
The rapid expansion rate in infrastructure displayed by a large number of industry verticals around the world is the primary driver of the global desiccant wheel market. Several companies in the electronics, pharmaceuticals, chemicals, food and beverage, and other sectors are exclusively presenting a tremendous increase in demand and infrastructure development.
In the anticipated period, the rise of these industries resulted in a significant demand for desiccant wheels. Desiccant wheels can also absorb atmospheric moisture in considerably shorter periods, which has boosted the global desiccant wheel market.
As per the desiccant wheel market study, because of growing carbon dioxide levels and rising atmospheric temperatures, the general humidity content of the atmosphere has altered dramatically during the last few decades.
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Chemicals, pharmaceuticals, food, and beverage industries, for example, require carefully controlled atmospheric conditions in their manufacturing areas. Because many of the items made in these verticals are hygroscopic, they can quickly collect moisture from the air. This increased moisture or humidity could hurt the manufacturing process or the finished product.
To avert this catastrophe, enterprises use dehumidification techniques nearby. The usage of desiccant wheels to control humidity levels in the aforementioned industries is one of the most successful and cost-effective approaches, which is the key driver of the desiccant wheel market.
For sustaining regulatory criteria connected with relative humidity (RH) levels in production infrastructures, desiccant wheels are in high demand from a variety of industry verticals such as food & drinks, chemicals, and pharmaceuticals.
The desiccant wheel market adoption trends are projected to gain global appeal in the next years due to lower electricity costs and the portability of desiccant dehumidifiers. Furthermore, when it comes to extracting moisture in short periods, desiccant dehumidifiers have proven to be far more successful than compressor-based dehumidifiers.
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Food and beverage, pharmaceutical, chemical, and electronics industries, among others, have had promising expansion in recent years. All of the aforementioned industries are subject to stringent government controls.
These businesses make considerable use of desiccant wheels for moisture control to attain the allowable humidity level. Other dehumidification technologies, such as thermal wheels and compressor-driven dehumidifiers, have several advantages over desiccant wheels.
In addition, after the moisture from the desiccant has been removed, the desiccant wheel can be reused. As a result, the overall operating cost is reduced, making this technology suitable for a variety of businesses. The desiccant wheel market is predicted to grow in lockstep with the rest of the industry in the coming years
Key Takeaways
- In recent years, the pharmaceutical and chemical industries have used desiccant wheels for dehumidification, helping the North American desiccant wheels market to stay ahead of other regional markets.
- Silica Gel, one of the report's sectors, is expected to rise at a CAGR of 4.8 per cent over the forecast period.
- The US desiccant wheel market size is expected to reach a valuation of US$ 177.3 Mn by 2032.
- The top application for the desiccant wheel market is pharmaceutical, which is anticipated to rise at a growth rate of 4.5% over the analysis period.
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The desiccant wheel market is highly fragmented, with numerous desiccant wheel manufacturers. These businesses endure the fierce competition and must keep up with current market events to maintain their market position. One of the principal techniques used by market leaders to maintain their dominance is to form strategic alliances with end-use industries for supply.
Table of Content
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Desiccant Wheel Market
4. Market Overview
4.1. Introduction
4.1.1. Product Definition
4.1.2. Industry Evolution / Developments
4.2. Key Market Indicators
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunity
4.4. Global Desiccant Wheel Market Analysis and Forecasts, 2015 – 2032
4.4.1. Market Revenue Projections (US$ Mn)
4.4.2. Market Volume Projections (Million Units)
4.4.3. Price Trend Analysis
4.5. Desiccant Wheel Market - Global Supply Demand Scenario
4.6. Porter’s Five Force Analysis
4.7. Value Chain Analysis
4.7.1. List of active market participants (suppliers/distributors/manufacturers/vendors)
4.7.1.1. Manufacturers
4.7.1.2. Distributors and Service Providers
4.7.1.3. Inspection and Maintenance Service Providers
4.7.2. Forward – Backward Integration Scenario
4.8. Market Outlook
5. Global Desiccant Wheel Market Analysis and Forecasts, By Type of Desiccant
5.1. Introduction & Definition
5.2. Key Findings / Developments
5.3. Key Trends
5.4. Market Size (US$ Mn) and Volume (Million Units) Forecast By Type of Desiccant
5.4.1. Silica Gel
5.4.2. Molecular Sieve
5.4.3. Activated Alumina
5.4.4. Others
5.5. Comparison Matrix
5.6. Market Attractiveness By Type of Desiccant
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