Drying Curing Equipment Market Report

Market Insights

The Drying Curing Equipment market is projected to grow from USD 546.9 Million in 2020 to USD 637.0 Million by 2026 at a CAGR of over 2.6% during the forecast period.

Figure: Drying Curing Equipment Market Size, 2020-2026 (USD Million)

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What is Drying Curing Equipment?

Drying curing equipment is a mechanical device that utilizes thermal energy to reduce the moisture content of a material, for drying an object. Dryer by heating the material in the wet, usually refers to moisture or other volatile liquid components, vaporized to escape, to obtain a specified moisture content of solid materials. It has a strong application base primarily in the printing and manufacturing industry.

Key Players

Key players operating in the drying curing equipment market are-

• IST METZ GmbH (Germany),
• Heraeus (Germany),
• GEW (The U.S),
• Phoseon (The U.S),
• Lumen Dynamics (Canada),
• Miltec (The U.S),
• Nordson (The U.S),
• AMS (The U.S),
• Kyocera (Japan),
• Panasonic (Japan), among others.

Market Dynamics

The growing demand for drying curing equipment mainly attributed to its flourishing demand from manufacturing, printing, and building materials industry.

• The increasing requirement for dryers for drying materials involved in these industries is setting a healthy demand for drying curing equipment.
• The increasing investments in the research and development activities and the rising technological advancements in the drying curing equipment market, rising the market growth.

Segment's Analysis

Type Trends

By type, the drying curing equipment market has been bifurcated into UV drying curing equipment, IR drying curing equipment, and others.

• Under this segment, UV, and IR both segments are witnessing a healthy growth rate in the overall drying curing equipment market.
• Growing technology advancement and increased adoption of the latest drying tools are observed as the most significant factors building strong demand for drying curing equipment across the world.

Regional Trends

Based on geography, the market is categorized across North America, Europe, Asia Pacific, Middle East & Africa, and South America.

• The North American and European market has witnessed the highest market share in fiscal 2020 and is projected to grow at a high CAGR during the review period.
• This is mainly attributed to the growing customer demand for drying curing equipment across the regions.
• Technology advancement and rise in corporate spending are some of the factors setting a high demand for drying curing equipment across these regions.
• Moreover, the growing economies in developing countries are propelling the demand for drying curing equipment.
• This factor further ensuring the growth of the drying curing equipment market during the forecast period.

COVID-19 Impact on Drying Curing Equipment Market

The ongoing COVID-19 pandemic has negatively influenced the drying curing equipment market. This is mainly due to soaring coronavirus cases, implementation of stringent lockdown measures, and limited movement of people to curb the spread of the virus. Owing to the worsening pandemic situation, the market dynamics have changed to a great extent. The nation’s lockdown and other government restrictions are affecting the economies over the globe.

A declining capital base of nations has affected the buying power of consumers across the world. Growing restrictions on construction and manufacturing activities across nations largely hampering the customer demand for dryers, thereby affecting the global drying curing equipment market growth.

Critical Questions Answered in the Report

• What are the key trends in the drying curing equipment market?
• how the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
• What is the impact of COVID-19 on the drying curing equipment market?
• What are the key strategies adopted by the major vendors to lead in the drying curing equipment market?
• What is the market share of the top vendors?

Target Audience

Here is the list of the group of customers that the Drying Curing Equipment market hopes to have the greatest opportunity to convert-

• Manufacturing Organizations
• Distributors & Suppliers
• Government as well as Independent Regulatory Authorities
• Research Institute / Education Institute
• Potential Investors

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