Refrigerated Air Dryer Market Size, Share & Trends Analysis By Product (Cycling, Non-Cycling), By Application (Chemical, Paper, Food & Beverages, Pharmaceutical), By Region, And Segment Forecasts, 2024 - 2030

Refrigerated Air Dryer Market Size, Share & Trends Analysis By Product (Cycling, Non-Cycling), By Application (Chemical, Paper, Food & Beverages, Pharmaceutical), By Region, And Segment Forecasts, 2024 - 2030

Refrigerated Air Dryer Market Growth & Trends

The global refrigerated air dryer market size is expected to reach USD 2.63 billion by 2030, registering a CAGR of 6.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. It is primarily accredited to several benefits offered, such as the low operating & maintenance cost as well low initial capital investment. The capability to provide variation, high-energy efficiency, portability, low maintenance cost, and eco-friendly operations are other key factors projected to fuel the industrial demand for refrigerated air dryers over the next seven years.

Furthermore, the escalating need for purified air in applications such as food packaging is projected to expedite the demand for air compression gears, thereby complementing the Refrigerated Air Dryer Market growth. The growing need for refrigerated air drying equipment in pharmaceutical industries for oxidation processes, packaging, cleaning & conveying pills, as well as tablets & capsules is also expected to fuel market demand over the next seven years. Furthermore, several regulations imposed and standards set by the government & concerned authorities, such as The NFPA 99 (National Fire Protection Agency) Standard for Healthcare Facilities, is also expected to propel the adoption of refrigerated air dryers. In addition, Food and Drug Association (FDA) enforced regulations for eradicating polluted air containing indirect additives under 12CFR 11.40, which is anticipated to impact the Refrigerated Air Dryer Market growth favorably over the forecast period.

Refrigerated Air Dryer Market Report Highlights

• The food and beverages industry secured 33.3% of the global market share in 2023. The food and beverage industry heavily relies on compressed air for various processes, including packaging, bottling, and quality control.
• The pharmaceutical industry has emerged as the fastest-growing segment at a CAGR of 7.0% in 2023. The industry’s growing emphasis on quality, energy efficiency, and expanding production drives the adoption of refrigerated air dryers.
• The Asia Pacific market accounted for over 34.4% of the overall share in 2023 and is estimated to exhibit healthy growth over the forecast period due to the growing industrialization in this region, particularly in China and India
• The evolving consumer lifestyle in North America is expected to drive a healthy demand for processed food, thereby driving the product demand. Furthermore, the establishment of new food processing industries in the U.S. may open avenues for product manufacturers.

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