Global Spray Drying Equipment Market is expected to reach USD 5.91 Billion by 2028 in value terms, growing at a CAGR of over 7% during 2023-2028. The growth of the market is driven by the growing pharmaceutical, food & chemical industry, changing lifestyles, increasing population, growing urbanization, and increasing domestic income.
Moreover, the growing trend for high investment in technological advancements to develop the equipment will further drive the spray drying equipment market. Based on geography, North America dominates the Global Spray Drying Equipment market due to growing health awareness among consumers, and the APAC region is expected to hold a significant market share during 2024-2028.
Some of the leading players in the Global Spray Drying Equipment market are GEA Group AG, Dedert Corporation, SPX Flow Technology Denmark A/S, Acmefil Engineering Systems Pvt. Ltd., Buchi Labortechnik AG, European Spraydry Technologies Llp, Changzhou Lemar Drying Engineering Co. Ltd., Shandong Shungeng Drying Equipment Co. Ltd., C.E. Rogers Company, etc.
The objective of the Study is Global Spray Drying Equipment Market
- To analyze and forecast the market size of the Global Spray Drying Equipment market, in terms of value and volume.
- To classify and forecast the Global Spray Drying Equipment market based on type, drying stage, flow type, application, and regional distribution.
- To identify drivers and challenges for the Global Spray Drying Equipment market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Spray Drying Equipment market.
- To conduct the pricing analysis for the Global Spray Drying Equipment market.
- To identify and analyze the profile of leading players involved in the manufacturing of the Global Spray Drying Equipment market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies.
While interviewing, the respondents also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service offerings, distribution channels, and presence of all major collaboration manufacturers across the globe.
The TechSci Research calculated the market size of the Global Spray Drying Equipment market using a bottom-up approach, where data for various end-user industries and their application across various product types were recorded and forecasted for the future years.
TechSci Research sourced these values from industry experts and company representatives and externally validated them by analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations, and financial reports were also used by TechSci Research.
Key Target Audience for Global Spray Drying Equipment Market
- Spray Drying Equipment Manufacturers
- Raw material, manufacturers, and suppliers
- Technology providers
- Artificial sweeteners manufacturers
- Research organizations and consulting companies.
- Research Institutes
- Industry associations
- Market research and consulting firm.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.