Filtration And Drying Equipment Market Size, Share & Trends Analysis Report By Technology, By End-use (Food & Beverage, Chemical, Pharmaceutical), By Region, And Segment Forecasts, 2023 - 2030

Filtration And Drying Equipment Market Size, Share & Trends Analysis Report By Technology, By End-use (Food & Beverage, Chemical, Pharmaceutical), By Region, And Segment Forecasts, 2023 - 2030

Filtration And Drying Equipment Market Growth & Trends

The global filtration and drying equipment market size is anticipated to reach USD 2.48 billion by 2030, growing at a CAGR of 8.4% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market is expected to witness growth due to the increasing adoption of various business strategies, pharmaceutical spending on R&D and advanced technology, and the benefits offered by filtration & drying equipment for pharmaceutical applications, such as high standard & sophisticated with varying temperature ranges of either continuous or batch type, that are increasingly being adopted in the pharmaceutical industry.

In the pharmaceuticals industry, filtration & drying equipment are critical for maintaining the quality of products manufactured. Due to the presence of stringent hygiene standards and the surge in the production of large molecules, pharmaceutical corporations such as Johnson & Johnson, Roche, and Merck are investing in the installation of filtration & drying equipment in their manufacturing plant. The surged demand for complex drugs for the treatment of chronic illnesses such as cancer and diabetes is predicted to fuel the global demand for filtration & drying equipment in the coming years, thereby leading to the growth of the market.

Filtration & drying equipment are witnessing the highest demand from the urban population of India due to rising investments by the major players in the food & beverage industry and the increase in government initiatives. Moreover, improved system performance and decreased downtime, and increased application in corrosive and hazardous settings are further anticipated to drive the market expansion in the food & beverage industry.

Innovations in filtration & drying equipment open new markets by improving existing ones. For example, developments in energy-efficient equipment, automation, and smart filtration systems attract increased interest from end users. Moreover, companies are increasingly adopting sustainable practices, and the demand for eco-friendly filtration and drying equipment is expected to increase over the forecast period. For instance, filtration and drying equipment includes automatic cleaning mechanisms to extend the lifespan of filter media, reducing the frequency of replacement and waste generation.

Manufacturers of filtration & drying equipment are looking for partnerships, mergers, and acquisitions to diversify their product offerings and boost output. To meet the growing demand from application sectors such as pharmaceutical, chemicals, water and wastewater treatment, food & beverages, and others, manufacturers are also concentrating on expanding their manufacturing facilities.

Filtration And Drying Equipment Market Report Highlights

• Agitated Nutsche Filter-dyers (ANFD) and others. The ANFD segment dominated the market and accounted for revenue share of over 50.0% in 2022 and is expected to grow at the fastest CAGR of 8.9% over the forecast period.
• The chemical segment dominated the market and accounted for a revenue share of 40.8% in 2022. The chemicals industry is witnessing increased adoption of filtration & drying equipment owing to their high chemical resistance and adherence to the relevant filtration parameters to achieve the highest possible quality of end products.
• Asia Pacific dominated the global filtration and drying equipment market and accounted for a revenue share of 40.7% in 2022 and is expected to grow at the fastest CAGR of 9.4% over the forecast period.

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