During the projected timeline, the global Desiccant Wheel Market is poised to exhibit a steady growth trajectory, with an estimated Compound Annual Growth Rate (CAGR) of 4.3%. Valued at US$ 448.4 million in 2023, the market is forecasted to escalate to US$ 683.2 million by the year 2033.
A surge in demand for desiccant wheels is observed across various sectors including electronics, pharmaceuticals, chemicals, food and beverage, among others. This surge is attributed to the heightened emphasis on infrastructure development and the increased adoption of desiccant wheels by companies within these industries.
The appeal of desiccant wheels lies in their reusability feature, which allows for the extraction of moisture from the desiccant, thereby reducing operational costs. This cost-effective solution has garnered significant interest across diverse industries, driving the anticipated growth of the desiccant wheel market throughout the forecast period.
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Growth Factors
The surging demand for desiccant wheels is reverberating across diverse industries, driven by their adeptness in capturing water vapor or moisture through specialized desiccant materials. This rise in demand is particularly notable due to the efficacy of desiccant wheels in regulating humidity levels at sub-zero temperatures without generating excess water.
Industries spanning from the food and beverage sector to medical facilities, commercial establishments, hotels, and manufacturing facilities are increasingly recognizing the value proposition offered by desiccant wheels. This widespread adoption is poised to catalyze the expansion of both sales and the global market for desiccant wheels, owing to several key factors:
Key Players
- Munters
- NovelAire Technologies
- DRI
- Trane
- Rotor Source Inc.
Key Segments
By Type:
- Silica Gel
- Molecular Sieve
- Activated Alumina
- Others
By Application:
- Pharmaceutical
- Food Industries
- Chemical
- Electronics
- Warehousing
- Others
By Region:
- North America
- Europe
- Asia Pacific
- The Middle East and Africa
- South America
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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